The Power of Community in the Nordics Insurance Market: Innovate, Impact, and Insure Together

Last month Guidewire hosted the Insurance Summit Nordics in Stockholm, bringing together industry leaders, experts, and professionals to discuss and explore the latest trends, technologies, and strategies shaping the future of insurance in the Nordics region. The event featured insightful sessions on the latest trends and innovations in the insurance industry with speakers from Guidewire, customers, partners, and technology providers within the broader community.

The summit was not just about sessions and speeches but also a prime networking opportunity that leveraged and underlined the Power of Community, a spirit essential to solving the insurance industry's interconnected and increasingly complex challenges.

Setting the Stage: Welcome and Keynote Address

Christina Colby, Chief Customer Officer, and Brian Wahl Olsen, Customer Success Director, set the tone for the day by exploring the industry's current challenges like climate change, inflation, and talent shortage. Lasse Frimann, Solution Consultant at Guidewire, followed with some real-life examples of the art of the possible with the Guidewire Platform, and an insightful analysis of how Guidewire's solutions are driving innovation in the insurance sector. Lasse highlighted the importance of adaptability and continuous improvement, emphasising how embracing new technologies can lead to better customer experiences and operational efficiencies, and explored the opportunities offered by AI in general, and GenAI in particular.

Exploring the Frontiers of AI: Proper Operationalisation and Improving Insurance Outcomes

Talha Chattha, ML Specialist SA at Amazon Web Services, took to the stage to present how to best operationalise GenAI and large language models at scale within the organisation by efficiently combining people, processes, and technology. Andreas Martin, CEO of Upptec, a Guidewire Solution Partner, explained how AI and technology will help tackle the next level of claims automation, especially focusing on large claims. In addition, Mikael Kärrsten, CTO of Tryg, and Oskar Cervin, Data scientist at Trygg-Hansa, Guidewire customers in Sweden, showcased how AI improves claims outcomes by detecting fraud within the claims process.

Sustainability in Focus: Reducing Carbon Emissions from Building Claims

During one of the standout sessions of the day, Anders Melkersson from CAB addressed the pressing issue of sustainability in the insurance industry. His session explored innovative ways insurers can contribute to environmental sustainability. Anders highlighted the role of technology in assessing and mitigating the environmental impact of building repairs and claims. He emphasised that insurers can reduce their carbon footprint and promote sustainability within the industry by adopting greener practices and leveraging data analytics.

The Power of Community: Solving the Industry’s Challenges Together

In the last session of the day, I was pleased to offer a perspective on how important it is to address the future challenges of the insurance industry as a connected and collaborative community involving Guidewire customers, partners, and the wider insurance ecosystem. Insurance is vital in offering certainty and predictability to society, especially during progressively unpredictable and uncertain times.

Final Thoughts: A Resounding Success

The Guidewire Insurance Summit Nordics 2024 was a resounding success. It provided attendees with knowledge, new perspectives, practical use cases, and valuable connections. The event highlighted the critical role of technology in driving innovation and efficiency in the insurance industry and solving the challenges of today and tomorrow as a strong community.

Guidewire is committed to driving insurance innovation in the Nordics with our leading platform and powerful community of customers and partners. We look forward to the next opportunity to strengthen the Power of Community in the region.