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Building the future of insurance and exploring the impact of AI on the sector with the ROAM Academy

Written by Doors3 | Nov 27, 2024 2:43:23 PM

The insurance industry is undergoing a major transformation, driven by unprecedented technological acceleration. Among the most promising innovations, artificial intelligence (AI) has emerged as a strategic lever, capable of redefining business models and revolutionizing customer interactions. Yet, for many companies, AI and its subsets—such as generative AI—remain complex concepts, underutilized in their potential applications.

In this context, the ROAM (Meeting of Mutual Insurance Organizations) launched the ROAM Academy in collaboration with Doors3 in 2024, an ambitious and innovative project. Designed as a knowledge-sharing and cultural initiative, the ROAM Academy aims to make AI accessible to all its members and unlock the opportunities it offers for the insurance industry of tomorrow.

1. ROAM Academy : A Vision for Innovation

The fundamental concept of the ROAM Academy revolves around a simple yet powerful objective: demystifying AI technologies to enable their full potential in the insurance sector. Through its collaboration with Doors3, ROAM structured a program to address several strategic challenges: 

- Making AI understandable for all: the ROAM Academy is designed to be educational, equipping its members with tools and knowledge to grasp the complex concepts of AI and its integration into business processes.

- Sharing knowledge and best practices: by pooling expertise and actively monitoring innovations, ROAM strengthens its commitment to supporting its members with guidance and shared insights.

- Identifying and prioritizing use cases: by simplifying the understanding of AI's practical applications, the ROAM Academy enables the definition of high-value projects to address future challenges (risk management, hyper-personalization...).

- Imagining innovative and engaging experiences: combining the technological expertise of Doors3 and ROAM's forward-thinking approach, the Academy creates a dynamic program that opens up new horizons.

A Future-Focused Approach : The ROAM Academy is not just a training program; it represents a proactive and structured approach to anticipating the emerging challenges of the industry. By raising awareness of AI and equipping members with the necessary tools, the Academy empowers them to move faster and further, seizing opportunities for innovation. Building on its previous experience in the metaverse, ROAM solidifies its role as a transformative force for its members.

Through this program, ROAM reaffirms its ambition to envision the insurance of tomorrow, leveraging AI technologies to create enriching new experiences and define a forward-looking strategic vision.


2. Approach and Methodology

Interactive Webinars on Artificial Intelligence

To ensure gradual and engaging learning, Doors3 conducted a series of three webinars specifically designed for ROAM members. These sessions covered:

  • AI Fundamentals: understanding how it works, its potential, and its limitations.
  • Practical use cases for insurance: process automation, predictive analysis, claims/risk management, and improving customer experience. 
  • AI implementation strategies: aligning technological innovations with business objectives and regulatory challenges
Use Case Presentations and Strategic Methodology

During the webinars, priority use cases for the insurance sector were highlighted, focusing on their feasibility, potential impact, and strategic relevance. These discussions showcased how AI could transform key processes, such as claims management and offer personalization.

The sessions also introduced the macro principles of a strategic roadmap, emphasizing the importance of setting a clear direction to steer innovation. The goal was to underline why a comprehensive strategy is essential for the success of AI projects.

This approach highlighted the benefits of an adapted roadmap and raised awareness among members about the risks of lacking a solid strategy. It emphasized prioritizing technological initiatives and aligning projects with business needs.

Conclusion 

The ROAM Academy illustrates how the partnership between Doors3 and ROAM enables a traditional sector to meet the technological challenges of tomorrow. By combining an educational approach, practical use cases, and a clear strategy, this collaboration not only familiarizes members with AI but also provides a framework for understanding and deploying it effectively.
As AI continues to reshape the insurance industry, the ROAM Academy stands as an inspiring model for guiding change and leveraging the potential of emerging technologies.

 

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