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Technology and innovation, talent, commercial opportunities and the current situation in the insurance market were the main topics discussed during the session of the Banking Marketing Association of Argentina. An event that integrates the insurance and banking business.
User experience and artificial intelligence (AI) took center stage during the first one Insurance and Banking Day, 2023in which he participated Mauricio Bustoscommercial manager of BBVA Insurance.
“The AI will provide us with advice in the market. New generations seek, investigate and take this information with them, allowing you to learn more about coverage, insurance, forecasting, risk. I think it will give us the opportunity to increase insurance levels in the Argentine market and in general. It will improve knowledge of insurance”, said Bustos.
The Conferences organized the Banking Marketing Association of Argentina (AMBA) on the Buenos Aires Stock Exchange. Specifically, the table where Mauricio Bustos intervened was called The Commercial Rudyard, and the participation of the commercial director i life insurance, Sergio Carusoof the corporate commercial manager i San Cristobal Group, Alexis Tagliaferreither and the CEO i 911 insurance, Paul Sutton, moderately. In it, the debate focused on current measurement and management tools, as well as those that will be used in the future.
Regarding the latter, the executive revealed that the AI “It will allow solving situations that today require much more agility in the response” on the company’s communication channels with both customers and intermediaries. “While there are deeper things in insurance that require a strong involvement of intermediary channels, AI will facilitate a greater number of clients in the market,” he said.
Mauricio Bustos, head of Commercial Channels at BBVA Seguros, at the Argentina Banking Marketing Association conference.
Insurance industry KPIs in times of inflation
It is one of the biggest concerns for the insurance industry the tools to be used to measure management and user experience. Talking about KPIs, Bustos pointed out which ones are relevant for BBVA Seguros.
“I think we will have to put a lot focus on KPIs related to portfolio retention. With all this evolution of tools we will have to look at how we reach the client in a different way to keep the portfolio and make it profitable”, he explained.
This search is related to the socio-economic context in which the country is suffering: “at the moment, we have more than significant inflation, with which we maintain a portfolio, increase costs and see where we have deviations, I think that focus is the most important.”
Innovation
Chips are reaching nanometer sizes unimaginable just a few years ago, and the ability of artificial intelligence models to process data is growing every day. Given this panorama of almost limitless possibilities, can innovation continue? And in what direction? For Jon Ander Beracoechea, reducing the time it takes to bring the benefits of technology to society would be one of the keys. The Global Leader of the Advanced Analytics discipline at BBVA shared his vision during the last day of the Data Festival, an internal event organized by the bank’s Advanced Analytics discipline, where its data professionals presented the biggest issues in the sector at the moment.
When asked about indicators that can include new technologies and self-management, Bustos pointed out that the NPS will continue to be present in times of less face-to-face attendance, although there will be twists and turns with him. “We will have to focus more on NPS on more and more channels, on each new channel that is created”he demanded.
“We need to open up a bit by area or make it wider, look a bit at the new types of customers, the ‘centenarians’, the ‘millennials’, start to understand how they think and, from there, the NPS generate this new targeting. , as I said before, in the channel type”, he swore.
Finally, he talked about how the artificial intelligence could also add to the measurement: “They are another form of measurement that we are going to start discovering with the ‘guides’. You will have volumes of leads that you need to see how you will treat them, how they came, analyze the way they come, what they expect from the company or the intermediary and at what times. Start measuring management times too and not just the result”.