It’s about your people: Zurich’s Luz Grande Vega on AI’s enhancing or eroding institutional know-how.
A busy conference on digital insurance in Hong Kong had the usual blah blah AI’s great blah from CEOs, as DigFin reported.
But buried at one of the dead o’clock side sessions, Luz Grande Vega of Zurich International gave a short presentation about how to use artificial intelligence that should have been the keynote.
Grande Vega’s perspective as a techie in the insurance industry should find its way to top-level strategy sessions about how to utilize this technology for the sustainability of the industry. She spoke about the future – the real future, not the techbro vision of dancing bots and shredding headcount, but of how to embed best practices in teams so that insurance companies remain durably competitive.
As the group’s chief sustainability officer and head of operational excellence for Asia-Pacific, Grande Vega is at the front line of a digital transformation sweeping across insurers: a transformation that, in her view, risks failure not from a lack of investment, but from a fundamental misunderstanding of what truly sustains competitive advantage in a world of artificial intelligence.
“In 2025, the insurance sector will pour an estimated $148 billion into digital transformation; double that by 2030,” Grande Vega said at her presentation, referencing recent industry forecasts. “But if over seventy percent of companies are struggling to scale these efforts, we’re not just spinning our wheels, we’re losing money.
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