Transformation in Action: Success Stories and Use Cases

2019 SMA Summit Report

Deborah M. Smallwood, Senior Partner
Karen Furtado, Partner
Mark A. Breading, Senior Partner
Karen Pauli, Principal
Publication Date:
December 18, 2019
Number of Pages:
$995.00 USD

SMA has released a new report on the 2019 SMA Summit: Transformation in Action which was held in New York City on December 4, 2019. For eight straight years, the SMA Summit has been the only insurance conference focused on sharing and showcasing insurer success stories, lessons learned, and insurer use cases that reflect their transformation in action.

The themes for this year’s event were Adopt, Actualize, and Accelerate. There were 18 sessions and many speakers. And throughout an action-packed day, the speakers related many examples of insurers and tech companies putting transformation into action and accelerating their journeys. This follow-up report presents the transformation success stories and use cases shared by all of the day’s speakers.

In the report, the sessions are organized into six categories: 1) 25 Years Out, 2) Innovation, 3) Customer and Digital, 4) Claims, 5) Underwriting, and 6) Transformational Tech, along with the opening and closing sessions. All of the SMA Transformation in Action Award winners also shared their success stories. The report makes a strong case for real transformation in the insurance industry.

2019 12 18 Summit Recap Report


Table of Contents

  • Introduction: Bringing a New Lens to the Transformation Journey 3
  • 25 Years Out 4
  • The Next 25 Years (AM Best)
  • Breaking Down the Silos for Acceleration: The C-Suite Perspective (Amynta Group, Everest Insurance, The Institutes)
  • Innovation 7
  • Accelerating the Transformation Journey (Nationwide)
  • Creating Everyday Innovation (The Cincinnati Insurance Company)
  • Transformation in Action Award Winner (RLI)
  • Customer and Digital 10
  • Transformation in Action Award Winner: Distribution (TARMIKA, INC.)
  • Transformation in Action Award Winner: Customer Engagement (Clearcover)
  • Embracing Digital Engagement with Your Customer (Digital Transformation Strategies LLC)
  • Accelerate Time to Market with Digital Transformation (Insurity)
  • Rethinking Customer Conversations: Where Digital Experience Is Going (Smart Communications/Intelledox)
  • Claims 15
  • Actualizing Transformation in Claims – Panel Discussion (Amica Mutual Insurance Company, CLM, Sedgwick)
  • Transformation in Action Award Winners: Claims (Amica Mutual Insurance Company,IBM)
  • Underwriting 17
  • Transformation in Action Award Winners: Underwriting (Praedicat, Inc., Sompo International Insurance)
  • Transformational Technologies 18
  • Enabling Transformation Throughout the Ecosystem – Panel Discussion (Duck Creek Technologies, Guidewire, IVANS, ValueMomentum)
  • Transformation in Action Award Winner: Vendor Solution (Expert System)
  • Driving Transformation With AI, IoT, and Blockchain – Panel Discussion (Chesapeake Employers’ Insurance Company, EMC Insurance Companies, Eos Venture Partners, The Institutes’ RiskStream Collaborative)
  • A Call to Action and Closing Remarks 22
  • About Strategy Meets Action 24