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Lloyd's of London CIO Jennifer Rigby says technology innovation and IT at the core of business transformation

Hannah Williams | Oct. 20, 2017
Lloyd's of London CIO Jennifer Rigby discusses the impact of data analytics, AI, innovation, and putting IT at the heart of the organisation's strategy and transformation agenda.

 

Emerging technologies

Rigby said that IoT, robotics and artificial intelligence were some of the emerging technologies Lloyd's of London was investigating, and that the organisation was encouraging other financial services companies to do the same.

"We're looking at robotics; automation is a real push for us," she said. "We're also looking at redesigning some of our systems where things like semantic analysis and disambiguation could really help with the core format of that data. It's helped us from a strategic perspective as well.

"The other one I see as being important across the board of citizens, customers and for us in Lloyd's and financial services is the Internet of Things. I just think that's such as game changer, in terms of whether we're talking smart cities, or whether we're talking different and new services that we can offer.

"The idea of so much more machine to machine type of intelligence that can happen, I think will really bring us a lot of new services that we haven't yet imagined and from our perspective, gives us a lot more real time information. Again, to look at risk, to look at what's happening in the world, to enable us to then evaluate that and support our customers in a much better way."

Lloyd's of London has also embraced data analytics and as an early adopter of a chief data officer role, Rigby unveiled that it has been focused on adopting Big Data technologies.

"We're very data focused; we hired a Chief Data Officer about three years ago. That's really led to this emphasis on the value of data in the organisation and a great collaboration with technology between the two areas, to get more value out through some of these initiatives," she said.

 

Startups and incubators

Rigby said that it was importat to also look outside of the big IT vendors for the latest disruptive technology innovations, and explained how working with startups could benefit CIOs.

"We're working with incubators as well as startups. Actually incubators can help us find some of the best new technologies, rather than us having to do some of that ourselves," she said.

"We're finding that's a really valuable way to come across those new and interesting technologies and organisations."

Rigby also offered some advice to organisations as to how businesses could embrace innovation as a culture across an organisation rather than just a something which sat in a silo.

"Finding the people who welcome change, the people who understand the startup mentality, the people who understand user need and also the people that are going to bring benefit and that you want to work with in bringing those along," she said.

 

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