Carlos Ordóñez
NTT DATA
Vice-president, Global Insurance Innovation & Marketing
After delivering a standout presentation at the Qorus Reinvent Forum Warsaw – Insurance last June, Carlos Ordóñez, Vice President of Global Insurance Innovation & Marketing at NTT DATA, explains why innovation and transformation are urgent priorities for insurers—and shares practical advice on how to make them happen.
The insurance sector seems to be in a moment of deep change. How would you describe its current state?
The sector is boiling, no doubt about it. It's facing a massive transformation. Either insurers adapt, or they risk becoming irrelevant, especially in this uncertain environment where AI is advancing so rapidly.
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What is the biggest challenge insurers face in remaining connected with their clients?
The main challenge is exactly that: the risk of losing relevance. If you're not using data well, integrating AI where it truly adds value, or showing up in the digital ecosystems where people live their daily lives, you disappear. And you're not just competing with other insurers anymore, you're competing with tech giants who own those platforms.
So digital ecosystems are key to staying visible?
Absolutely. If you're not present in online platforms, apps, and services that people use every day, you're invisible. And with that comes the real threat: falling behind.
Where should insurers focus their efforts, then?
We see three interconnected pillars. First is the customer. One-size-fits-all products are gone. Customers want hyper-personalized, seamless services, often embedded into other experiences like buying a phone or booking a trip. AI plays a crucial role here, but always ethically and transparently.
Second is talent. It's not just about hiring digital profiles, but transforming existing teams into co-creators of innovation. Embracing automation and developing a collaborative, tech-driven culture is a major challenge.
Third is operations. Many insurers still run on outdated core systems. These must be modernized. Automation of processes like claims, pricing, and underwriting is essential. Again, AI and new data sources are key enablers.
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Sounds like a full-scale digital transformation.
It is. And it must be strategic. We outline six main focus areas for insurance leaders:
1 - Ecosystem Integration – Be where the customer is. Offer personalized services embedded in their digital lives. Tools like CDPs and predictive AI help enhance customer experience and even prevent claims before they happen.
2 - AI at the Core – AI shouldn't be peripheral. It must power the heart of insurance, subscription, claims, and risk analysis. Often this means partnering with AI leaders rather than building from scratch.
3 - Data-Driven Culture – Beyond having technology, companies must make real-time, actionable decisions based on quality data. Open Insurance initiatives are critical here, allowing secure data sharing with customer consent.
4 - Core Modernization – Modernizing the insurance core is critical. The goal is to accelerate legacy systems, making them more modular, agile, and secure. Cloud and AI are enablers that allow insurers to evolve toward flexible architectures that can scale and adapt quickly. It's a CEO-level discussion.
5 - Smart Simplification – Before you automate, simplify. Eliminate the unnecessary. Streamline providers and explore autonomous AI that can execute complex tasks independently.
6 - Emerging Segments – Tap into new niches like cybersecurity or climate risk. Innovate with preventive products and partner with specialists to serve these growing areas.
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So it’s not about isolated actions, but a comprehensive roadmap.
Exactly. It's about weaving together ecosystems, AI, data, cloud, simplification, and new markets. If you don't, you risk being left behind.
Any final thoughts?
The core message is clear: adapt by putting the customer and their digital world at the center. It's no longer optional; it's the only way to stay relevant. And with greater dependence on data sharing and ecosystems, insurers carry a growing responsibility: to ensure ethical and secure use of our information in these complex networks. Especially as AI becomes deeply embedded in every process. This debate is only just beginning.