Operations Boost over 3V Challenges

Just like data, business processes too are facing the triple challenges of Volume of Applications, Variety of Technologies, and Velocity of Processes, ie, the 3Vs. In this scenario, every BFSI company is searching for new ways to revamp operations to overcome these challenges and achieve superior results. COOs now have to judiciously choose a mix of automation, analytics, AI, ML, APIs, etc. that lift their business processes. What will that holistic approach look like? What factors must COOs be cautious about? What results can they expect? What competitive advantage will emerge from this? To explore answers to such vital questions, Banking Frontiers organized a panel discussion among 5 COOs of India’s progressive insurance companies.