Speaking at an insurance industry professional panel, Dr. Kurdbacheh, Head of IRC, referred to the concept and purpose of digital transformation as a vital strategy for the survival of the insurance companies, and said: “The insurance industry as a human-based industry is at the center of the digital transformation and it is expected that digital disruption lead to transformation in the company’s efficiency in underwriting and claim settlements. Increasing customer satisfaction, personalization of insurance solutions based on customer’s needs, optimal pricing based on the insureds’ characteristics, scaling of the insurance companies and underwriting procedures, and agility are some of the other digital transformation achievements."

Referring to various explanations about the concept of digital transformation, Dr. Kurdbacheh, added: “Digital transformation does not connote a change in insurance company business model (individual risk pooling), but it focuses on the multiplatform activities (i.e. maintaining the physical platforms and creating virtual ones) and the modern techniques based on the digital tools in order to offer better services and increase customer satisfaction.

It must be noted that the 4th National Conference on Advances in Enterprise Architecture 2020 was virtually held by Tehran University with IRC’s sponsorship on November 11, 2020. Two of the relevant workshops of the conference included Workshop on Enterprise Architecture and Smart Contracts and Workshop on Implementation Experience of Enterprise Architecture in an Insurance Company. A professional forum was also held as a side event in the conference.   

The Insurance Industry Professional Panel with the main theme of digital transformation was commenced with the keynote speech of Dr. Kurdbacheh, Head of IRC and followed by speeches given by Dr. Niakan, IRC Research Deputy, Dr. Manteghipour, Head of Data Mining Taskforce, and Dr. Payer Gajan.