In this episode, Michael Waitze talked to Shefali Sonpar, Head of Insurance Practice at UST Global, a leading provider of end-to-end IT services and solutions. Shefali spent 20 years in the global insurance industry, mostly on the IT side and is a global Thought Leader in digitization of the insurance industry. Originally from India, she has worked all over the globe including Europe, US and Canada.
Shefali believes that 2020 is a new area for digital transformation due to the use of AI, machine learning and blockchain. She predicts that leveraging new technologies will significantly improve customer service as well as other parts of the insurance value chain including fraud detection.
Michael and Shefali talk about insurance penetration in Asia and the role of education and the insurance regulator as well as Michael’s favorite topic, alternative distribution in the context of digital transformation. Shefali also shares her view on women working in insurance. She explains that organizations do not care about gender as long as the job gets done. Therefore, in her opinion, women can achieve the same as men in the insurance industry.