Quotes from Q2 2017 earnings calls related to innovation, future strategy, or capital allocation.
Marsh & McLennan Cos.
We are in a more for less business. Our job is to deliver more value to our clients every year at fundamentally better levels of efficiency within our own organization. So that search for a smarter way, that search for additional operational efficiency, that never ends. And when I look into the future, whether it’s robotics, whether it’s deep learning, AI, et cetera, I think there’ll be all kinds of avenues for us to become a more efficient organization as we go forward. So, I don’t think the margin story is different.
There’s many others of how we’re adding new skills to the organization and we’re hiring more data scientists, more developers and this is going to be an ongoing process. But I just wanted to highlight that for us, the battle has been joined.
Hartford Financial Services
we are going to continue to be a leader in this space as things continue to change. So, a lot of our investment dollars are targeted towards a more of a digital business model…Maxim was specifically targeted to a small commercial end of the market, so with our technology, with E&S capabilities with enhancing digital experiences, I feel good about the path that we are on.
We, like a lot of people, are starting to look at the Insurtech space. And the State National, I think they are ideally situated to sort of be the go between the Insurtech folks and sort of your standard insurance carrier types. It’s a clash of cultures there, I would say. The Insurtech folks are used to things happening lightening fast and with minimal regulatory issues and all that and that’s not insurance. So there almost needs to be a translator between Insurtech folks and standard insurance folks. And that is a role that State National plays wonderfully. And we see them helping us with our Insurtech initiatives sort of being that translator between us and those folks, and we think a lot of other people do that as well.
So, we’ve talked about integrated digital enterprise and emerging technologies, one of those areas that we are deploying it initially and in quite some force is the claims area. We believe it’s an area of primed for it because there it is some inefficiency in the way the model operated. In the past, there was a lot of windshield time, there was a lot of dead time, unproductive time as adjusters drove around, driving to cars, driving to body shops for both initial estimates and supplements, and we looked at that and realized that emerging technologies, data and analytics could rectify that and take some of the inefficiency out of the system.
I’m here to grow the Company profitably. In addition to targeted organic growth opportunities, we will consider acquisitions that are strategically complimentary. I have a track record of building value to acquisitions and you could expect that bring that experience and philosophy to AIG.
So that’s what we do, I mean we got the capital as management in this company. We’ve been given that responsibility in charge, to do the best with it, to create long-term shareholders value. And as I said, my priority is to take this capital and find ways where we can increase its franchised value of this company. If we can’t, obviously, we would return it. But that would be something I would prefer not to do, if I can find something better to use it with.
Having said that we just don’t want to see disruption happen and we react to it so, we have actively sent our strategy team out to Silicon Valley to the various incubators we actually have one here in Cincinnati we’ve been up to Detroit to talk to those that are actually making the automated cars. So we’re keeping our thumb on the polls and really what I see us doing is to take away the things that we learn, try to find opportunities in the claims area or whatever area it is that we could execute our personal touch business model better by better using technology.
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