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2024 GenAI Insurance Trends

Kartik Sakthivel, Ph.D., MS-IT/MS-CS, MBA, PGC-IQ; Rima Safari; Logan Richter 4/30/2024

The generative AI (GenAI) wave has arrived in the financial services industry.

Summary

Learn about five key GenAI trends influencing the financial services industry:

  • Business stakeholders, working with centralized AI “factories” and centers of excellence (CoEs) will be the engines for AI delivery.
  • GenAI investment will expand from enabling and supporting existing functions to completely reimagining the entire insurance value chain.
  • GenAI will broaden the horizons of digital transformation.
  • New GenAI-driven products and services will start offering carriers go-to-market opportunities via nontraditional channels, outside the traditional benefits sales cycle.
  • Strengthening the foundations of sustainable, responsible AI use is increasingly important to all stakeholders.

View the complete white paper.

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Meet the Project Director

Kartik Sakthivel, Ph.D., MS-IT/MS-CS, MBA, PGC-IQ

As chief information officer for LIMRA and LOMA, Kartik Sakthivel is responsible for developing the information technology strategic direction for the enterprise. In this capacity, he directs and manages computing and information technology policies, programs and schedules for business and enterprise systems, and manages information services to meet LIMRA and LOMA’s corporate goals and objectives.

An industry thought leader, he champions the use of technology to improve the revenue, profitability, and efficiency of the organization. Joining LIMRA and LOMA in 2017, Sakthivel has broad industry experience, most recently as director of technology at Liberty Mutual Insurance.

He holds a doctorate in Computer and Information Sciences with a focus on AI and Information Quality from University of Arkansas at Little Rock, and a Master of Science in Computer Information Systems/Information Technology, as well as a Master of Business Administration from Southern New Hampshire University.

Vice President & Chief Information Officer and Regional Chief Executive Officer – Asia West
LIMRA and LOMA
ksakthivel@limra.com


For more information, please contact ksakthivel@limra.com.

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