Patrick Druley, Senior Solution Engineer, Confluent
Insurance companies have always been data centric businesses. Disruption is the new normal as digital native insurance companies gain traction in the market. One challenge facing all property and casualty insurers is the many forms of fraud that raise premium prices. The FBI estimates that around $40 Billion is lost annually* to fraud related to property and casualty insurance. Capturing events in real time and looking through an event driven lens can dramatically impact one's ability to detect and remediate fraud.
Apache Kafka® is recognized as the world’s leading real-time, fault-tolerant, highly-scalable event streaming platform. It is adopted across thousands of companies worldwide to collect different types of events - member profile updates, claim submissions, etc. - into Kafka in real-time. This architecture enables applications, data platforms and organizations to react to events in real-time. This can improve customer experience, drive revenue and reduce costs across the business.
In this talk, we’ll discuss the power of events to reimagine your data and how to achieve digital transformation with Apache Kafka and Confluent, in either a self-managed or fully-managed cloud offering. We’ll also look at different types of insurance fraud and how real time event streaming can enable different approaches to reducing them.