Vikas Gujral
Chief Operating Officer,
Max Bupa Health
Insurance

During 2016, enterprises across all industry verticals stepped up their investments in IT and telecom infrastructure in order to enhance operational efficiencies and meet customer demands. Internet of things (IoT) and machine-to-machine (M2M) technologies gained significant traction during the year, while enterprises continued leveraging social media, analytics and cloud (SMAC) technologies to get real-time insights into market trends and convert them into actionable strategies. Going forward, the role of new technologies such as artificial intelligence, fog computing, blockchain, machine learning, robotics and 3D printing is expected to increase considerably. Enterprise customers comment on the key technology trends during 2016, the challenges in adopting new applications, and the technology roadmap for 2017…

What were the key technology trends in the enterprise space during 2016? What was the level of adoption of new technologies like IoT, M2M and the cloud?

Enterprises today are putting a strong focus on utilising technology to deliver best-in-class service and an overwhelming experience to their customers, partners and em­ployees. Max Bupa has strengthened its position as an IT leader in the industry. It has recently launched SARAL – a device and operating software-agnostic application that automates the policy issuance process for banks and non-bank partners, speeding up the process significantly. We have recently developed a specialised over-the-counter application for agents termed InstaInsure that offers one of the fastest policy issuances in the industry.

Which technology trends are likely to dominate the enterprise space in 2017?

The future will be either creating your own ecosystems or riding on others’ ecosystems to have an integrated end-to-end offering for consumers. This will encompass the buzzwords that all of us are hearing around us like IoT and other intelligent applications. In the insurance sector, IoT will not only help in improved conversion and enhanced customer stickiness, but will also help insurers in risk prevention and portfolio management. The use case for AI is an area that some insurers are currently working on actively. Hybrid cloud is another trend that will be very strategic for enterprises as it provides the most desirable elasticity and reach across a wider ecosystem. In order to leverage this capability, seamless “plumbing”, using application programming interfaces through a service integration layer (which can integrate across premises as well as the cloud) will be a key component of all strategic IT initiatives. Lastly, I feel some innovative and breakthrough technology-enablers such as blockchain and software defined networking will provide immense benefits for health insurance and the overall insurance sector, as they allow for significant scalability of business