Insurance reimagined: The power of insurtech
Qorus and NTT DATA explore how AI and collaboration are shaping the future of insurance.
Richard Calvo, Head of Insurtech at NTT DATA explores how AI and collaboration are shaping the future of insurance — a topic also addressed by NTT DATA in its Insurtech Global Outlook 2025 report.
On 21 October 2025, Qorus and NTT DATA co-hosted Insurance Reimagined: The Power of Insurtech, a virtual event that brought together leading figures from across the global insurance landscape. The session featured Fay Hazaveh Costa, Partner at NTTVC, Antony Elliott, Global Head of Innovation & R&D at Zurich Insurance Group, and Dr. Klaus Driever, Managing Executive at Allianz Deutschland and Chairman of InsurTech Hub Munich. The discussion focused on the rapid evolution of artificial intelligence (AI) and the growing role of startup collaboration in driving digital transformation across the sector.
AI maturity in insurance
The conversation revealed how AI has progressed from early experimentation to real, scalable impact across the insurance value chain. From claims automation and underwriting optimization to customer support and regulatory compliance, AI is delivering tangible results in efficiency, accuracy, and personalization.
Yet, achieving scale remains a challenge. The speakers emphasized that successful deployment requires a combination of strong data infrastructure, well-defined processes, and cultural readiness for change. Insurers that approach AI as a long-term strategic capability, rather than a series of isolated pilots, are seeing the most significant business outcomes.
Collaboration as a catalyst for innovation
A central theme of the discussion was the vital role of collaboration between insurers, technology partners, and startups. The panelists highlighted that innovation thrives when diverse expertise converges: established organizations bring scale, data, and industry knowledge, while startups contribute agility, experimentation, and cutting-edge technology.
Platforms and ecosystems that enable these partnerships are becoming powerful accelerators of responsible AI adoption. By fostering open collaboration, the insurance industry is building an environment where innovation can move from concept to implementation faster than ever before.
The road ahead for insurtech
Looking forward, AI-driven customer engagement, intelligent automation, and regulatory technology (RegTech) are expected to become standard across the industry in the coming year. However, participants agreed that technology should enhance, not replace, the human element. In a trust-based business like insurance, empathy, ethics, and transparency remain fundamental to lasting customer relationships.
Insurance Reimagined: The Power of Insurtech reaffirmed that the future of insurance will be built on intelligent collaboration, purposeful innovation, and responsible AI adoption. Through continued partnership, Qorus and NTT Data are committed to empowering the global insurance community to unlock the full potential of AI, driving transformation that is not only smarter, but more human.
Missed it live? Watch the webinar replay now!
Insurance & Embedded Insurance community
With Qorus memberships, you gain access to exclusive innovation best practices and tailored matchmaking opportunities with executives who share your challenges.