Innovation Across Industries

But what if insurance worked more like Netflix? Netflix tracks your viewing behavior and adapts recommendations instantly. If insurance products adapting the same way, premiums adjusting dynamically to fitness levels, coverage expanding with life stages, benefits rebalancing as goals evolve. McKinsey estimates AI-led personalization could lift insurer revenues by 10–15%, while lowering claims costs through early risk detection. And The technology already exists. Wearables generate 250+ daily data points per user around heart rate, sleep, activity. PwC reports 63% of consumers are willing to share health data if it results in cheaper or more personalized premiums. And Personlaized premiums is not a distant reality. It can be achieved by: 𝟏. 𝐈𝐧𝐭𝐞𝐫𝐨𝐩𝐞𝐫𝐚𝐛𝐥𝐞 𝐝𝐚𝐭𝐚 𝐩𝐢𝐩𝐞𝐥𝐢𝐧𝐞𝐬 that allow secure ingestion of health and behavioral data at scale. 𝟐. 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐬𝐚𝐧𝐝𝐛𝐨𝐱𝐞𝐬 that encourage innovation while protecting privacy. 𝟑. 𝐀𝐈 𝐞𝐱𝐩𝐥𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐟𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤𝐬 to ensure transparent pricing and avoid hidden bias. 𝟒. 𝐄𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦 𝐩𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩𝐬 with health-tech, fintech, and wellness players to broaden value delivery. Insurance is likely evolve from a once-in-a-decade purchase to a living product. #DigitalIndia #Fintech #AI #technology #Fintech #AI #technology

Are we approaching the end of insurance innovation? The numbers suggest otherwise. I recently went through a 54-page report by FT Partners, and three key KPIs stood out to me. 1/ The Mixed dynamics of investment (see page 9) In the first half of this year, $2.1 billion was invested in InsurTech startups worldwide, marking a 10% drop from the same period last year. However, the number of announced rounds tells a different story, with 147 deals disclosed—a 17% increase from last year. This suggests that while more deals are happening, the average size of each round has decreased. A chart on page 14 reinforces this, showing that 40% of rounds announced in H1 2024 were below $5 million. This signals that the future of insurance innovation is still very much in development! 2/ Declining corporate activity (see page 28) Corporate participation in InsurTech deals has hit a new low. Corporates were involved in only 32% of all rounds announced in the first half of the year, marking the lowest level since 2015. This trend is intriguing, especially as bridge rounds, which have become more common due to decreased funding, could have been prime opportunities for corporates to enter deals at attractive conditions. It seems some corporates have lost faith in InsurTech, viewing it as less successful than anticipated. The corporate VC wave has receded, but given the evolving InsurTech landscape and the emergence of new challenges like emerging risks, we might see a resurgence sooner than expected. 3/ The slow emergence of M&A activity (see page 33) Only 59 M&A deals were announced in the InsurTech sector during the first half of the year, a 20% decline from the same period last year. This seems counterintuitive, considering the funding drop has pressured startups to secure their future through cost reductions, bridge rounds, or M&A. While the M&A wave has been slow to materialize, it's likely that mounting pressure on startups will eventually lead to more deals. We could see M&A activity pick up among startups looking to expand portfolios or between startups and corporates eager to acquire tech assets at fair prices, as has already happened with some distressed companies. #insurance #insurtech #venturecapital 

The surge in electric vehicle (EV) adoption in the UAE is a testament to our collective drive towards sustainability. However, as we embrace this shift, we must also address the evolving landscape of insurance that comes with it. Recent events, such as the April rains, have highlighted a significant challenge: the spike in EV insurance premiums and the reluctance of some firms to provide coverage. This trend signals a pressing need for a more dynamic and resilient approach to insuring these vehicles. But what exactly is driving the faster rise in insurance premiums for EVs compared to fuel-operated cars? Several factors come into play, including the higher cost of EV repairs, the scarcity of specialized repair centers, and the advanced technology embedded in these vehicles. These complexities translate into higher claims costs for insurers, pushing premiums up. Looking ahead, as EVs become more mainstream and the infrastructure to support them grows, we may see a stabilization of these premiums. However, the pace of this shift will largely depend on advancements in EV technology, the availability of skilled technicians, and the evolution of the regulatory landscape. As someone deeply rooted in the UAE’s insurance sector, I see this as both a challenge and an opportunity. We must ask ourselves: How can we innovate to protect our customers better? How can we collaborate to ensure that our insurance offerings keep pace with the technological advancements and environmental realities of today? In my recent contribution to Khaleej Times, I delve into this issue, discussing the implications for insurers, EV owners, and the broader market. But more importantly, I offer solutions and insights on how we can turn these challenges into opportunities for growth and improvement. The way forward is clear: we must be proactive, not reactive. Insurers need to adapt their models, embrace new technologies, and work closely with regulators and EV manufacturers to create products that meet the needs of today’s consumers while anticipating the demands of tomorrow. I invite you to read more about this pressing issue and explore the solutions I’ve outlined in the article here: [UAE EV insurance premiums spike after April rains; some firms reluctant to give coverage] https://lnkd.in/d5Um5u_h. But beyond just reading, I encourage you to share your thoughts: How do you see the future of EV insurance evolving? What steps should we take to ensure that both consumers and insurers are well-prepared for the road ahead? Let’s start a conversation. Your insights could be the key to unlocking the next big innovation in our industry. #UAE #Insurance #EV #Sustainability #Innovation

The rise of electric and autonomous vehicles will profoundly influence the future of the auto insurance industry. They promise to revolutionize mobility, offering enhanced connectivity and efficiency. However, the path to this future is not without challenges. The possibility of shifting Green policies under new governments adds a layer of uncertainty, potentially affecting the pace and direction of electric vehicle adoption. Regulatory resistance and technical hurdles also pose significant barriers to the widespread adoption of these technologies. Despite these obstacles, the potential benefits of reduced accidents and more efficient mobility systems make pursuing these innovations worthwhile. On the other hand, the traditional auto insurance model is on the brink of a major overhaul. As safety technologies become more sophisticated and vehicles increasingly rely on telematics and advanced analytics, insurance premiums will likely decline. This evolution requires regulators to play a critical role in ensuring that new frameworks maintain financial stability and public safety. Original Equipment Manufacturers (OEMs) involvement in insurance distribution marks a significant shift since they could offer more tailored and competitive insurance products by leveraging vehicle data and partnering with insurers. #insurance #ElectricVehicles #AutonomousVehicles

The Insurance Industry Is at an Inflection Point – and AI Is Leading the Charge From outdated systems and unstructured data to rising customer expectations and talent shortages — insurers are under immense pressure. But with Generative AI, there’s finally a real way out. What’s Changing? 1. 60% of operational costs are still manual – AI can slash that. 2. 80% of data is untapped – GenAI reads, learns, and leverages it. 3. Only 18% of insurers currently use AI – but that’s about to change. Key Impact Areas: ✅ Underwriting: 90% data accuracy + new product models. ✅ Claims: 70% of simple claims can be auto-resolved + up to 50% faster processing ✅ Customer Experience: 48% higher NPS, 85% faster resolutions ✅ Fraud Detection: AI flags 75% of fraudulent claims in real time ✅ Sales & Distribution: AI agents, personalized funnels, smarter upsells ✅ Policy Admin: Real-time compliance, automated changes, predictive lapse alerts ✅ New Products: From behavior-based insurance to once “uninsurable” tech like drones & autonomy It’s not just about automating workflows. It’s about rethinking the very DNA of insurance using AI-first foundations. And those who don’t adapt — risk becoming obsolete. Whether you're transforming an incumbent or building the next vertical AI unicorn — the time is now.

SVB's "The Future of Climate Tech" report emphasizes the growing focus on decarbonizing heavy industries like steelmaking. Government incentives are key to driving #innovation and #investment in cleaner technologies, creating opportunities for a more sustainable future. This trend is expected to fuel #VC growth in areas like #greensteel, sustainable fuels, and clean energy. As a player in the industries, I highlighted key points related to innovation in the #steelindustry which include: 💲𝗚𝗿𝗲𝗲𝗻 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴: Access to green financing is essential for transitioning to cleaner technologies, such as electric arc furnaces and hydrogen-based steelmaking. 🍃𝗛𝘆𝗱𝗿𝗼𝗴𝗲𝗻 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆: Investments in hydrogen technology are rising, allowing for the replacement of coal with green hydrogen, which can drastically lower carbon emissions. 🏭 𝗖𝗮𝗿𝗯𝗼𝗻 𝗖𝗮𝗽𝘁𝘂𝗿𝗲, 𝗨𝘁𝗶𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻, 𝗮𝗻𝗱 𝗦𝘁𝗼𝗿𝗮𝗴𝗲 (𝗖𝗖𝗨𝗦): CCUS technologies are critical for reducing emissions from steel plants by capturing and either utilizing or safely storing CO2. Overall, the report indicates a maturing #climatetech sector. Despite funding challenges, the focus on hard-to-abate sectors like steel, along with innovative technologies, fosters optimism for a green revolution in the industry, crucial for combating #climatechange. Reference: https://lnkd.in/gEHcqa55

Did you hear about the announcement just over 2 weeks ago?    SAP announced SAP Business Data Cloud—a fully managed SaaS solution designed to unify and govern all SAP and third-party data, delivering transformative insights across all business lines. Data is the cornerstone of modern enterprise success, powering digital transformation and AI innovation. The customer feedback has been astounding!    This creates significant impacts on businesses today: 1. Enhanced Revenue Metrics: By leveraging real-time insights into financial health (e.g., cash flow and profitability), customers can drive smarter strategies to optimize revenue streams. 2. Cost Efficiency: Fully managed data products strongly reduce hidden costs of time-consuming data preparation. 3. AI-Driven Innovation: With Joule, SAP’s generative AI copilot, organizations can solve complex tasks and unlock new opportunities for growth – based on a fully consistent data foundation.   SAP Business Data Cloud redefines enterprise data management by bridging the gap between trusted data and actionable insights. This solution empowers organizations to innovate faster, reduce operational complexity, and maximize ROI from AI investments—all while ensuring long-term adaptability in a rapidly evolving digital landscape.   Let’s embrace this new era of data-driven transformation together!

SAP 50 Years of Reinventing Enterprise IT 5️⃣ DECADE —- Still at TOP When I look back at SAP’s journey — and my own 15 years as a consultant — one thing is clear: SAP has stayed relevant not by being “static ERP,” but by constantly transforming ahead of industry shifts. Timeline Since Start till 2025 🔰1972 → SAP founded in Germany, delivering mainframe-based financial accounting. 🔰1992 → SAP R/3 launched → true client–server ERP, revolutionized integration across Finance, Manufacturing, and Logistics. 🔰2004 → SAP NetWeaver era → middleware + integration hub (XI/PI), laying foundation for connected enterprises. 🔰2010–2015 → SAP HANA → real-time in-memory database, breaking batch-processing mindset. 🔰2015 → SAP S/4HANA → digital core, simplified data model, Fiori UX. 🔰2021 onwards → RISE with SAP → Business Transformation as a Service. 🔰2023–2025 → AI & Sustainability-driven ERP → embedding AI copilots, sustainability reporting, and industry cloud. 🚀 Major Transformations That Kept SAP Ahead 1. Integration First → While many ERPs solved silos, SAP mastered end-to-end integration across Finance, Supply Chain, and Maintenance. 2. Technology Shifts → From mainframe → client-server → cloud → AI — SAP adapted earlier than competitors. 3. Industry Focus → Unlike generic ERPs, SAP doubled down on industry solutions (oil & gas, automotive, pharma, utilities). 4. Business Model → RISE with SAP changed ERP from a license game to transformation-as-a-service. 5. Sustainability & AI → Embedding ESG, predictive maintenance, and generative AI directly into ERP workflows. 💡 Takeaway for IT Enthusiasts SAP’s story is not just about ERP. It’s about reinvention every decade. And that’s why, even in 2025, SAP is still the “iPhone of Enterprise IT” — continuously upgrading, continuously relevant. 👉 What do you think will define SAP’s next 10 years — AI-first ERP, or something we can’t even predict yet?

In an industry often defined by caution, transformation of insurance claims is a bold leap toward becoming a true competitive differentiator. Traditionally, claims departments were isolated, focused on technical expertise rather than strategic impact. But I think, in today’s customer-first world, this approach is limiting, especially as claims are a “moment of truth” where an insurer’s promise is tested. Unlocking this function’s potential means moving beyond processing efficiency. It’s about aligning the entire claims process with the organization’s mission, customer needs, and advanced technology. We might very well be headed to a future where claims function would not only be powered by AI and data analytics but would be designed to predict and meet client expectations even before claims occur. This might be achievable, but not without tackling the enduring challenge of legacy systems, where fragmented data and siloed departments hinder progress. For real transformation, insurers must adopt an integrated, data driven architecture that connects claims with underwriting, actuarial insights, and finance. This would unlock vast possibilities: precise risk profiling, personalized coverage, and even proactive risk mitigation. Insurers worldwide are beginning to see claims not as an endpoint but as a foundational element of customer relationships and loyalty. Embracing open insurance principles,where data sharing across platforms empowers seamless, personalized customer experiences is vital . It’s not just about technology but about rethinking values: Do we aim to simply pay claims, or to stand by clients in their most vulnerable moments? Regulators, too, are watching closely, pushing insurers to create transparent, customer-aligned processes. This transformation must go beyond adopting AI or automating processes; it’s about reimagining claims from the ground up. Those who embrace this journey will redefine industry standards and reshape what customers expect from their insurers. Refer attached report for detailed insights.⬇️ #InsuranceInnovation #ClaimsTransformation #InsurTech #CustomerExperience #Insurance #OpenInsurance #InsuranceEvolution #LinkedIn

I’ve seen many insurers experimenting with AI - but only a few are realizing transformational value. In our latest report, which I had the pleasure of co-authoring, we examine what truly separates AI leaders from the rest. The results were striking: 📈 Over the past five years, insurers leading in AI achieved 6.1x the total shareholder returns of AI laggards. This is more than a technology advantage, it’s a strategic imperative. So, what sets the AI leaders apart? ✅ They take an enterprise-wide approach to AI—not isolated pilots. ✅ They rewire their core processes: underwriting, claims, distribution, and customer service. ✅ They build a modern capabilities stack—scalable infrastructure, high-quality data, and reusable components. ✅ They invest just as much in change management and workforce enablement as they do in technology. ✅ They view gen AI and agentic AI not just as tools, but as differentiators capable of reasoning, empathy, and creativity. AI is becoming the defining force of competitive advantage in insurance, and the gap between leaders and laggards is widening fast. 📘 Explore our perspective here: https://lnkd.in/ekaV_Jyy #Insurance #AILeadership #GenAI #DigitalTransformation #FutureOfInsurance #AgenticAI #InsureTech #McKinseyInsight #FinancialServices