Mar 10, 2021

Nigel Walsh becomes Google’s new MD of insurance

Google
NigelWalsh
MunichRe
Allianz
William Girling
2 min
Nigel Walsh becomes Google’s new MD of insurance
Former Deloitte Partner Nigel Walsh has been hired by Google to act as the Managing Director (MD) for its insurance department...

Walsh, who was also previously the VP of UK Insurance at Capgemini, is a staunch advocate of insurtech and has even co-authored a book on the subject (The InsurTECH Book).

“There has never been a better time to enable an industry drive change, making Google the number one destination for insurance transformation over the next decade,” he stated in a LinkedIn post. “In an industry where we manufacture nothing but data, no point being anywhere but the undisputed industry leader.”

Google Cloud partners with Munich Re and Allianz

Google’s developments in the insurance space were made visible prior to Walsh’s appointment; a new partnership between Google Cloud, Munich Re and Allianz was announced in the first week of March.

Centring specifically on cyber insurance, the collaboration is designed to combine Munich Re’s and Allianz’s market knowledge with Google’s expertise in security, theoretically producing a brand new and exclusive solution for Google Cloud’s customers.

In addition, this new solution (Cloud Protection +) would enable a more data-driven approach and greater efficiencies in the underwriting process. Stefan Golling. Member of the Board of Management, Munich Re, said:

“By combining the expertise of three industry leaders we address the specific risk management needs of organisations that are moving their business to the cloud. Embedded in an efficient underwriting process, our solution Cloud Protection + provides a holistic response to cyber risk. 

“Above and beyond the immediate benefit for Google Cloud customers, the cooperation will contribute to the further enhancement of Munich Re’s cyber risk modelling.”

The importance of digital partnerships

As previously observed, incumbent insurers forging partnerships with leading tech firms can result in much-needed innovation.

The ‘war on talent’ discussed in our article COVID-19 and technology are changing risk management rages on. Insurance needs to keep attracting the best tech talent it can in order to capitalise on the sector’s digital transformation, or else it risks being made redundant by evolving partner ecosystems.

Munich Re and Allianz’s work with Google is a prime example of this thinking in action. With Walsh, a bona fide insurtech expert, now taking a leadership position at one of the world’s biggest tech companies, the sector could be about to witness even greater change.

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Jun 11, 2021

SLK Software: Optimising performance in the digital economy

SLKSoftware
AI
Automation
CNAInsurance
2 min
Recently featured in our profile of CNA Insurance, we take a closer look at how SLK Software is powering disruption in the digital era

Established in 2000 in Bengaluru, India, SLK Software recognises that fast-paced digital transformation is creating an unprecedentedly fertile period of opportunity for global businesses.

As such, with a firm belief in the power of simplification and automation to yield new and exciting experiences, the company has been challenging the status quo for over 20 years through an approach that is:

  • Relationship oriented
  • Strategically focused on a desired outcome
  • Reliant on automation tech

Believing in purposeful automation

SLK’s specialisation in automation tech is full spectrum: artificial intelligence (AI) and machine learning (ML), Computer Vision, Natural Language Processing (NLP), Robotic Process Automation (RPA), and more, are all part of its core competencies. 

Citing 90% productivity improvements, 30% business growth through better customer experiences, and up to 20x faster go-to-market capabilities, the reasons for its focus are clear.

The company currently serves the banking, financial services, insurance, retirement services, M&A, manufacturing, and supply chain sectors. Solutions offered include:

Accelerating workflow processes

In addition to these services, SLK offers three products/platforms: Avo Assist - RPA, Avo Assure - Test Automation, and Avo Discover - Process Discovery.

 

 

The latter is a tool specifically calibrated to enable business users an easy method for capturing document processes. This can occur across any application, with these individual tasks then seamlessly combined for both improved compliance and governance. 

Carol Castelloni, VP of Transformation at CNA Insurance, highlighted this as providing critical support in helping the company meet its business objectives:

“SLK’s Avo Discover tool accelerates how we can document workflow processes, measure impacts on enhancements, and identifies future automation opportunities.” Liberated from having to focus on these process-driven aspects of business, CNA Insurance has been able to refocus its attention on creative problem-solving instead.

Ultimately, this is the most important benefit that SLK brings: it optimises the back end so that clients can channel their energy towards what matters the most, customers.

Read more about SLK Software and CNA Insurance in the June 2021 edition of FinTech Magazine.

Pictured: SLK Software team (source)

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