Webinar for March 2020 - Artificial intelligence & Machine Learning – Case studies & implementation approaches

1. ARTIFICIAL INTELLIGENCE & MACHINE
LEARNING - CASE STUDIES &
IMPLEMENTATION APPROACHES
18TH MARCH 2020

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Today’s Panellists
Working together to accelerate the digital transformation of insurance

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Discussion Agenda
1. Introductory Remarks from Selina Lau, CEO, HKFI
2. Intro to AI – What is it and where are we?
3. TDI Academy Case Studies:
• AI in management of chronic disease - Wellthy Therapeutics
• AI in claims and customer service - Lemonade
• AI in Life Underwriting – AIA
4. Implementation of AI in Insurance
5. HKFI Updates
6. Q&A / Panel Discussion
7. TDI updates
TDI Academy – learning for the digital age

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Introductory Remarks
Selina Lau
Chief Executive, HKFI
TDI Academy – learning for the digital age

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How to participate
How to participate:
If you have a question please type into the Q&A area
If you have a comment please type into the chat area
Session format:
The moderator will use a combination of their own questions and those
from the audience
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Intro to AI – what is it and where are we?
Hugh Terry
Founder, The Digital Insurer
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What is Artificial Intelligence?
“Artificial Intelligence is a computer programme that
allows machines to replicate human behaviour”
“The theory and development of computer systems able to perform
tasks normally requiring human intelligence, such as visual
perception, speech recognition, decision-making, and translation
between languages” Wikipedia
TDI Academy – learning for the digital age

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What Makes up AI?
Source: Deloitte - Part 1: Artificial Intelligence Defined
“ Machine learning (ML) is the scientific study
of algorithms and statistical models that computer
systems use to perform a specific task without using
explicit instructions, relying on patterns and
inference instead.” Wikipedia
ML is “dumb” it is not AI on its own
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AI is in our everyday lives
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Where are we now?
Turing Test of Artiificial intelligence
One of the two partners in conversation is a machine,
and both participants would be separated from one
another. The conversation would be limited to a text-
only channel such as a computer
keyboard and screen so the result would not depend
on the machine's ability to render words as speech.
If the evaluator cannot reliably tell the machine from
the human, the machine is said to have passed the
test.
We are beyond the Turing Test …
TDI Academy – learning for the digital age

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Google Duplex video
3.5 billion views!
TDI Academy – learning for the digital age
https://www.youtube.com/watch?v=D5VN5
6jQMWM

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AI in Management of Chronic Disease:
Wellthy Therapeutics
TDI Academy – learning for the digital age
Andrew Dart
Tech Specialist, The Digital Insurer

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Wellthy’s DTx Solution
Working together to accelerate the digital transformation of insurance

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Addressing a range of Chronic Disease
Working together to accelerate the digital transformation of insurance

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AI provides individualized real time insights
Working together to accelerate the digital transformation of insurance
e.g. tracking diet with AI-driven insights

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AI enables holistic individual advice at scale
Working together to accelerate the digital transformation of insurance

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AI enables early intervention
Working together to accelerate the digital transformation of insurance

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Snap Poll 1 – tell us what you think!
Q. How exciting do you find the possible use of AI to detect disease
early and help people to modify their behaviours?
Response options:
1. It is a game changer – very exciting
2. Enormous potential – but I want to see more results and proof
3. I am a bit sceptical
4. Not convinced
TDI Academy – learning for the digital age

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AI in claims and customer service
TDI Academy Case Study (Recorded)
TDI Academy – learning for the digital age

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Login to the TDI Academy
TDI Academy – learning for the digital age

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AI in Life underwriting:
AIA Fusion
TDI Academy – learning for the digital age
Nora Li
Innovation Actuary, AIA

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AIA Fusion
Review AIA Fusion submission : https://www.the-digital-insurer.com/tdi-talks/aia-pitch-
livefest-2019-global-insurer-innovation-award-winner/ TDI Academy – learning for the digital age

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AIA Implementation Experience

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AIA Implementation Experience

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AIA Implementation Experience

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Stages of maturity
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Q. How well advanced do you think your company is in the use of AI?
Response options:
1. Awareness
2. Active
3. Operational
4. Systemic
5. Transformational
TDI Academy – learning for the digital age
Snap Poll 2 – tell us what you think!

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HKFI Updates
TDI Academy – learning for the digital age
Celine Chiu
Communications & Committee Manager, HKFI

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Insurance Fraud Prevention Claims Database
 Circulation of abridged claim cases
amongst Member Insurers through:

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 To-date, our Members still fill
out a form and provide abridged
information for the HKFI
Secretariat to circulate and ask
for any similar/common claim
cases
@

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•Implementation
•Onboarding
•Feasibility study • Stakeholders
Engagement
• Proof of Concept
• Privacy by Design
January
2016
2016 - 2017
2017-
2018
2018
A F O
O F A

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In 2019: Travel
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In 2018:
Motor Medical Personal
Accident

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the Brains & the Functions -
Fraud Alerts
Multi-dimensional Data Analysis of claim data
Trend Reports for the Industry, for the Participating Insurer
Deep-learning
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For the good of Hong Kong

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Panel Q&A
TDI Academy – learning for the digital age

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Snap Poll 3 – tell us what you think!
Q. What do you think is the most important use case for AI in
Insurance?
Response options:
1. Recommendations and advice using AI algorithms
2. AI-enabled Chat bots for better customer service
3. AI for lead quality scoring
4. AI for Underwriting
5. AI for Claims
TDI Academy – learning for the digital age

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Panel Q&A
TDI Academy – learning for the digital age

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TDI Corporate Members
Contact us if you would like further information on our Corporate Membership Plans
TDI Academy – learning for the digital age

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TDI Knowledge Pyramid
Certificate in Digital Insurance (CDI)
Online certificate
Associate Digital Insurer (ADI)
“mini-MBA” and business qualification
Essentials - Knowledge Portal & Community
Opportunities for all to participate in digital insurance
Executive Digital
Insurer (EDI)
Learning & coaching for
leadership teams
“Ensuring the right level of digital
insurance learning is provided to
the right people at the right time,
at the right cost and in the right
way”

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ADI overview
https://www.the-digital-insurer.com/tdi-academy/adi
TDI Academy – learning for the digital age

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ADI Programme – course lessons
1.1 The 4th Industrial Revolution
1.2 Our connected world
1.3 The power of Social
1.4 Changing consumer behaviour
1.5 More change coming
1.6 Why data is King
1.7 Cloud crushes costs
1.8 Insurance Re-Booted
2.1 Cloud
2.2 RPA, Machine Learning & AI
2.3 Blockchain
2.4 IoT
2.5 Chat & Voice
2.6 Immersive Technologies
2.7 APIs & Microservices
2.8 Tech Architecture best practices
4.1 Sales tools for agents
4.2 Underwriting – Life & Health
4.3 Underwriting – P&C
4.4 Product Development
4.5 Service & Administration
4.6 Claims – Life & Health
4.7 Claims – P&C
4.8 implementing value chain
innovations
5.1 Platforms & Ecosystems
5.2 Microinsurance
5.3 On-demand & connected
insurance
5.4 Comparison Sites
5.5 Peer-to-Peer
5.6 Health & Wellness
5.7 Commercial
5.8 Building new digital business
models
6.1 Data led marketing
6.2 Direct digital marketing
6.3 digital marketing for advisors
(o2O)
6.4 Power of content
6.5 Omni sales & servicing
6.6 Customer lifetime value &
customer advocacy
6.7 UX & CX
6.8 Out-of-industry use cases
7.1 Why Strategy beats execution
7.2 Regulations and ethics in a digital world
7.3 Transforming the old vs building the new
7.4. Partnership, Investing and Acquisition strategies in a digital world
7.5 AGILE & LEAN basics
7.6 Change Management as a discipline
7.7 Cultural change for a digital world - Digital as DNA
7.8 How to succeed when most transformations fail
3.1 The Power of Data
3.2 Python basics
3.3 Python intermediate
3.4 Data visualization & example
tools
3.5 Machine learning (+ a little bit of
deep learning)
3.6 D&A use cases in P&C
3.7 D&A use cases in Life & Health
3.8 Predictive Modelling
TDI Academy – learning for the digital age

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Participant Feedback on ADI
- what they like & learn
“Good introduction and overview to
the topic, very precise with
materials and quotes from various
sources”
“Lessons are broken into bite-sized
chunks”
“Was easy to understand even for
non- native English speaker like
me”
“Data and videos are mind blowing”
“The materials are easily
understandable and could quite match
with our daily work in the insurance
company”“This was nicely paced. Speaker
was very knowledgeable and was
able to explain the lessons clearly”
“I find all reference materials
(articles and videos) very helpful
and relevant”
“Love the real-life examples”
“This course allows me to build the
fundamental knowledge. I am glad to
have this opportunity”
Average Lesson
Rating (out of 10)
Net Promoter
Score (NPS)
% who learnt a lot or a
significant amount
% who consolidated
8.6 +53% 73% 24%
TDI Academy – learning for the digital age
ADI Differentiators
1. Digital First not digital
only nor face-to-face only
2. Insurance relevant
3. Outward looking
4. Constantly refreshed
5. More than knowledge and
learning

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Snap Poll 4 – tell us what you think!
Q. How important do you think accelerating remote learning
on digital insurance is for you / your company?
Response options:
1. Important for my company
2. Important for me personally
3. Important for both me and my company
4. Not important at the moment
TDI Academy – learning for the digital age

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TDI Updates
TDI Academy – learning for the digital age
https://www.the-digital-insurer.com/event/the-digital-insurer-webinar-coronavirus-in-a-
connected-and-digital-world-exploring-the-implications-for-the-insurance-industry/

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Feedback please!
Three ways
 At end of webinar using survey
 When you receive the recording link
 To TDI / HKFI individually

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Contact Details
simon.phipps@the-digital-insurer.com
hugh.terry@the-digital-insurer.com
andrew.dart@the-digital-insurer.com
nora.li@aia.com
selina.lau@hkfi.org.hk
celine.chiu@hkfi.org.hk
TDI Academy – learning for the digital age

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ARTIFICIAL INTELLIGENCE &
MACHINE LEARNING - CASE
STUDIES & IMPLEMENTATION
APPROACHES
Thanks for your time!
(feedback please)