Rapid, revolutionary change powered by artificial intelligence is changing the world of banking, financial services, and insurance. Being at the cutting edge of this change requires a deep understanding of today’s tech and a vision of where these advances will take the industry in the future.
Indian-born, South African-based Milan Dutta, an industry expert with more than two decades of experience, has consistently demonstrated his ability to drive transformation and growth through strategic IT innovations and a customer-centric mindset. As the Associate Vice President at Zensar Technologies, Milan’s insights and leadership are shaping the future of insurance.
Dutta’s journey in the BFSI sector is marked by his extensive experience and proven track record. His tenure at Zensar Technologies has been characterized by consistent year-on-year growth, with a notable 19 per cent increase in revenue in the last fiscal year.
Milan’s ability to manage a multi-million-dollar portfolio for key insurance clients and his recognition as a top performer highlight his expertise and dedication.
Speaking about his career journey’s origins, he recalls: “I was born and brought up in India. I studied in India, and I come from a family that is very focused on education. In our culture, two things are considered very important for our growth: food and the education we get in our life.
“From the beginning, my passion was to have a rewarding and sustainable career where I can make an impact.
“My focus has always been on understanding each client’s unique needs and providing tailored solutions that drive real business outcomes.
“My goal is to solve problems in a way that creates significant positive changes. My education and experiences have instilled in me the principles of making a real difference in people’s lives,” says Milan.
He added: “I want my clients to see me as a doctor. When we go to a doctor, we trust that person to diagnose and treat us correctly. I want my clients to trust that I will diagnose their problem, provide the right solution, and solve it effectively. I want to be seen as a trusted, knowledgeable, honest, and transparent professional who can be relied upon.
“In the insurance sector, this means leveraging technology to enhance operational efficiency, improve customer experiences, and drive profitability.”
One of Milan’s core strengths is his ability to harness the power of technology to drive innovation. His expertise spans many areas, including IT consulting, technology strategy, business transformation, and digital experience.
By integrating technologies like artificial intelligence and machine learning, Milan has provided his clients with cutting-edge solutions that address their most pressing challenges.
“AI and machine learning are transforming the insurance industry by enabling us to analyze vast amounts of data and make informed decisions in real-time,” explains Milan.
“These technologies not only help identify and mitigate risks but also allow us to offer more personalized and efficient services to our customers.”
Milan significantly impacted HCL Technologies by leading a team to develop the ‘Instant Money’ product for Standard Bank, aimed at inclusive banking. This AI-powered system streamlined claims processing and improved fraud detection.
“We created a system that analyzed claims data in real-time, quickly flagging suspicious activities to secure transactions,” Milan shares. “This prevented fraud and sped up claims processing, boosting customer satisfaction and efficiency.”
Customer experience is at the heart of Milan’s consulting philosophy. His role at Zensar Technologies involves overseeing the delivery of application, digital, experience, engineering, data, and infrastructure services, ensuring that every touchpoint contributes to a positive customer journey.
By leveraging AI and ML, Milan has created personalized experiences that meet the evolving needs of insurance customers.
“In today’s digital age, customers expect seamless and personalized experiences,” says Milan. “By analyzing customer behavior and preferences using AI and ML, we can offer tailored solutions that enhance engagement and loyalty.”
Abhi Guha is a Business Development and Insurance Investment Solution Partner in Zensar, Southern Africa.
Citing Milan’s passion and ability as “top-notch,” he revealed Milan always encourages those he works with to push beyond their capabilities: “He has brought in many millions of dollars of business which have come from long-standing relationships Milan has fostered over the years.
“He has managed to increase the regional revenue for our organization twice over. There is no doubt Milan can set up new businesses, generate employment, and bring inclusion and diversification into any organization, improving its global outlook.”
Milan’s approach to business transformation is holistic, encompassing both technological advancements and a deep understanding of business objectives.
His educational background, which includes a Senior Executive Program from Harvard Business School and a Bachelor of Technology in Computer Science and Engineering from the University of Kalyani, India, equips him with the knowledge and skills to drive strategic initiatives.
“Innovation is not just about adopting the latest technology but about understanding its impact on the business and its customers,” says Milan. “At Zensar, we work closely with our clients to develop IT strategies that align with their business goals and create sustainable value.”
Milan identifies several key trends that will shape the insurance industry’s future. One of the most significant is the rise of generative AI – AI that can analyze data – and its potential to revolutionize various aspects of insurance, from underwriting and claims processing to customer service and risk management.
“Generative AI is set to be a game-changer for the insurance sector,” says Milan.
“It can help insurers enhance their decision-making processes, improve risk management, and offer more personalized services to their customers. However, it’s important to approach AI implementation strategically, ensuring that it aligns with the overall business objectives and addresses the organization’s specific needs.”
Milan also highlights the growing importance of cybersecurity in an increasingly digital world. With the rise of digital insurance platforms and online transactions, protecting sensitive customer data has become a top priority for insurers. Milan advocates for a proactive approach to cybersecurity, leveraging advanced technologies and best practices to safeguard against emerging threats.
“Cybersecurity is a critical aspect of digital transformation,” says Milan. “Insurers must invest in robust security measures to protect their customers and maintain trust. This includes implementing multi-factor authentication, encryption, and continuous monitoring to detect and respond to potential threats in real-time.”
For Milan, building client trust is just as important as leveraging technology. He believes in solving customer problems compassionately and maintaining long-term relationships based on transparency and integrity.
“In the insurance sector, trust is paramount,” explains Milan. “By being transparent and honest in our dealings and delivering on our promises, we can build strong, long-term relationships with our clients. This trust is essential for successfully implementing AI and ML initiatives.”
He adds: “I am passionate about helping my clients succeed by leveraging AI and ML to solve their most pressing challenges.
“By staying ahead of technological trends and focusing on the needs of our customers, we can create a future where insurance services are more efficient, secure, and customer-centric.”
Assessing his impact on his profession, he said: “There are quite a few things I’m proud of. I have solved customer problems from both technology and business outcome perspectives.
“I’m proud of how I have grown my portfolio and helped my current organization with my experience over the last 20 years. “I’m also proud of the way I have created new leadership levels within my teams, ensuring that if I leave tomorrow, there are leaders ready to take over and continue the work.”
Now Milan is now making even more of an impact by setting up his own company INTELLIAI SOLUTIONS LLC: “Our mission is to pinpoint customer pain points, creating smart tech solutions, and making sure they fit seamlessly into existing systems, and giving back to US society and economy” says Milan.
“The goal? To boost efficiency, cut costs, and enhance customer experiences in a fast-changing world. We offer IT and business transformation consulting, AI-powered omnichannel solutions, cloud services, and data analytics.”
With his long track record in IT and business consulting, especially in BFSI, Milan’s expertise in tech strategy, payments, and compliance, combined with a passion for generative AI, has consistently delivered growth and success for his clients.
He adds: “I want to be remembered as someone who made a significant difference in organizations, a trusted, reliable, and honest professional who always delivered on commitments with strong ethical values. I want to be known for my professionalism and contributions to the industry.”
