Dr Vivien is Chief Technology Officer at Shenton Insurance Brokers, where she is spearheading digital transformation of the direct insurance and reinsurance business. She is also actively involved in insurance/reinsurance placements and risk management consulting for corporate clients across the region.
Before working in insurance, Dr Vivien was an assistant professor at the National University of Singapore. She is a leading technology expert in computational modeling, simulation and data analytics. She is an author of over 30 peer-reviewed journal and conference papers, and a regular invited speaker at conferences, industry events and news media.
Dr Vivien received her Ph.D. and M.S. degrees in Engineering from Stanford University (USA), and her B.S. degree in Engineering from Georgia Institute of Technology (USA). She was a recipient of the MIT Technology Review Innovators Under 35 (Asia Pacific) award and the Singapore National Research Foundation PhD scholarship. Outside of work, she serves as the President of the Stanford Club of Singapore.
Rise of the Digital Broker: Shaping a New Era in Insurance
The era of in-person interaction between brokers and clients is becoming obsolete. The expectations of today’s customers are changing rapidly, driven by the digital interactions they are enjoying in ecommerce and financial services. The insurance industry has been transformed by digital technology and mobile evolution, and it is up to progressive brokers to respond by integrating technology into their day-to-day business.
While technology is not radically changing the way insurance products are created, it is changing how brokers work and giving them the opportunity to focus on their core sales and service attributes. I will highlight 4 main characteristics of digital brokers using Shenton Brokers as an example, namely the digital distribution of products, digital connectivity to policyholders, digital connectivity to insurers and digital automation of operations.
This is not a matter of digital technology replacing brokers, but those who succeed in adopting it will certainly replace those who don’t.