Introduction

Architecting for Modern Data: Challenges and Opportunities

Join us on 2nd May at The Ivy City Garden Private Dining Room, for the next gathering of the LMF Data & Analytics Practice Group Breakfast. If you work in the London Insurance Market and have an interest in or responsibility for data - be that in a central function or within a front line business unit, this Market event is for you.

The volume and speed of data in the modern era poses significant challenges for the insurance market. Professionals within Market firms face the dual challenge of managing disorganised and inaccessible historical data, whilst simultaneously integrating new data from a variety of rich internal and external sources. The plethora of data encompasses areas such as sensor-derived data, risk data, geospatial data, third-party data, video data, and more.

We are delighted to welcome Hexaware Technologies, a valued Corporate Member of LMF, and their guest contributors, to this thought provoking roundtable breakfast, who will share some of their domain expertise in this fast moving area.

There are some data challenges for our Market, particularly the legacy vs new data dilemma, cloud vs local, talent availability and the reliability of existing data tools and IT infrastructure. The new data explosion is for some, a real concern. Global spending on the IoT in 2023 surpassed $1 trillion and with 30 billion connected devices in place expected by 2025, the data streams relating to insured and insurable risks will be massive. According to research undertaken by Dell, 43% of IT leaders don't feel their existing IT infrastructure will be able to handle future data demands of the business.

This roundtable is designed to address these challenges head-on, focusing on pivotal issues like:

1. How can the insurance market efficiently manage and integrate large, diverse sets of modern data using new technologies in order to foster collaboration across various product lines and the entire enterprise?
2. How can the Market incorporate these systems into cloud or hybrid ecosystems and develop modern AI applications?
3. We will examine common challenges like data observability, accessibility, security, and risk, to cater to modern customer expectations.

Key Takeaways:

• Gain insights on managing and integrating large, diverse datasets using cloud technologies.
• Acquire strategies to address the challenges posed by outdated legacy systems and enhance enterprise agility.
• Learn how to leverage enterprise data and build state-of-the-art AI applications.
• Engage in discussions on prevalent challenges related to data observability, accessibility, security, and risk.
• Discover methods to meet the evolving expectations of customers in the digital age by establishing seamless internal employee experiences across workflows using AI solutions.
• Understand how to achieve measurable ROI through effective data and AI operations.

Spaces are limited to 20 at all LMF Practice Groups, so do reserve your place today. As always, all LMF events are free of charge and open to employees of insurers, brokers, MGA/U's, Lloyd's or Market Trade Association staff. A delicious hot cooked breakfast will be served.

Come and be part of this roundtable interactive Market event. LMF - putting you at the heart of the insurance discussion