Part 2- “Key Takeaways from ITC Vegas : My Journey Through the Lens of Insurance Innovation”

January 30, 2024

AI and ML

My Reflections and Realizations:

Leaving Vegas in 2022, I felt a renewed confidence in Turnkey’s value proposition. With over 60 clients across Africa and a significant presence in various insurance sectors, it was evident that strategic agility would be crucial for future growth and adaptation.

Fast forward to ITC Vegas 2023, the buzz was unmistakably around the impact of the AI and ML ‘tsunami’. My focus this time was to gauge how global entities were embracing these technologies, especially in an industry as data-centric as insurance. The preparation was smoother, with a clearer intent to explore AI and ML advancements and their implications.

Attending various AI and ML sessions, I was reassured to find that the advancements discussed were not beyond our grasp in Nairobi. Microsoft’s recent launch of Co-pilot(tag) and discussions around Generative AI highlighted potential immediate applications in the insurance industry, particularly in enhancing user experiences and operational efficiency. These sessions underscored a pivotal shift: what’s happening in global tech hubs like Silicon Valley is now paralleled in Nairobi, bringing us to an equal footing in the technological arena.

Reflecting on the technological evolution and the myriad of interactions at the conference, from casual chats to more formal networking, I realized the integral role of personal connections in navigating this ever-changing industry landscape.

As I left Las Vegas, my thoughts were centered on the profound changes poised to reshape the insurance industry. The convergence of AI and ML, coupled with the influx of advanced technology and skilled engineers, signals a transformative era ahead. The next 5-10 years in insurance promise to be not just about adapting to change but leading it, especially considering the unique dynamics of markets like Africa.

Embracing Change in African Insurance:

As we embark on 2024, I’m inspired to work alongside like-minded innovators and thought leaders.   My goal as the chairperson in the different companies in the insurance landscape is to explore and harness these emerging technologies to enhance insurance accessibility and efficiency across Africa. The journey ahead is exciting, filled with opportunities to redefine insurance for a new era.

I invite you to join me in this exploration of technology’s potential in insurance. Whether through discussions, seminars, or collaborations, let’s chart a course for a future where technology empowers and transforms insurance, not just in Africa but globally.

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