THE INSURANCE TRANSFORMATION

The insurance industry, no stranger to gauging risk, is facing its most profound disruptions in decades. Artificial intelligence, machine learning, Internet of Things, blockchain, data analytics and other emerging technologies are enabling many startups to nip at parts of their businesses. Are you ready to transform your business?

The below sessions will take place across our three different stages.

ARTIFICIAL INTELLIGENCE AND INSURTECH

How does Internet of Things and AI impact the insurance industry as we know it?

1

INSURANCE AND CUSTOMER ENGAGEMENT

Learn why customer engagement needs to be one of the top focuses in insurance

2

INSURANCE TECHNOLOGY AND CLAIMS

How can we utilize emerging technologies to reduce claims and improve customer care

3

WHERE ARE WE GOING?

A CEO Discussion: Is the new insurance firm a tech firm or a firm of financial services?

4

THE TECH TRANSITION

The CxO Discussion: Manage the integration between new tech and legacy systems

5

INDUSTRY PARTNERSHIPS

How can the startup-carrier relationship develop as a symbiotic partnership?

6

Day 1

Networking break
Welcome to The Global Insurtech Leaders’ Summit 2021, World’s Most Exclusive Insurtech Summit.

Panel Discussion
Another year has come and gone and insurance is still struggling to attract young talent to the industry and studies into graduate intentions reveal that this isn’t changing all that rapidly. Most people don’t aspire to work in insurance through their teens so the industry has to learn how to get the brightest and best into the workforce. Work spaces will also have to change to accomodate new expectations around remote working so insurers are really going to have to consider how they will approach this tricky area. In this session, you’ll learn what insurers can do to get young, bright talents to apply for insurance employment, how to keep those sparks when they’re in the office, and how you can fit them into new workspaces.

Keynote
It’s very easy to get carried away when discussing something as exciting as Artificial Intelligence. And why not? It’s new, it’s shiny and the potential is boundless. But while we’re thinking about how AI could govern our lives in future, we can forget about what it’s actually useful for today. Businesses that have adopted AI are doing 11.5% better than businesses that haven’t but mistakes in AI strategy can be costly indeed. Here we’ll be exploring what you can do with AI today and how using it right can yield benefits for your business.

Panel Discussion
Getting your message heard clearly with so much noise around is a tricky affair (unless you’re at a conference, of course) and despite many insurers’ best efforts, it’s still proving difficult to change the perception of the industry as a whole. People still have a negative perception of the sector and young people seem disinterested in engaging with (and working in) it. Plenty of marketing commentators have impressed the importance of backing up words with action or even just rolling up one’s sleeves and getting down to business. But where do you start? In this session, we’ll look at how insurers can go above an beyond expectations to create a brand that customers will love to buy from, engage with and, dare we mention it, work for.

Panel Discussion
It doesn’t matter where you look — health insurance, life insurance, auto insurance — there are plenty of uninsured people knocking around in the system. There are vast swathes of people who don’t feel like they should or can be insured for varying reasons but tapping into this market is a real opportunity to provide value to the market and to gain access to more customers. Let’s find out who this persona is and what you can do to get them insured and better set up.

Panel Discussion

Insurance is a highly regulated industry. Sometimes, this can hamper innovation efforts and stop carriers from taking advantage of the low hanging fruit in front of them. But is there a way around it without deliberately contravening regulations? These innovation gurus will teach you how to marry the two concepts of innovation and regulation to make the process as rapid as possible.

Panel Discussion

Exponential technological innovation has meant increased and evolving cyber risk for many companies around the world. Data breaches can be costly for any business and cyber insurance is on the rise. As cyber risks evolve, so must underwriters evolve to ensure that they can keep customers onside during what always proves to be a stressful and damaging period.

Networking Break
Network with over 800 top industry leaders.

Panel Discussion

Consumers now expect products that can fit around their changing lifestyles. As consumers’ lives change at increasing speeds, insurers will have to offer these varied products at scale to account for demand. With Covid-19 having accelerated the trend towards the digital in all walks of life, now is the time to take advantage of a massive opportunity to deliver innovative, digital, flexible products that bring about value to customers’ lives. This session will show you what these products are and how to get them into the hands of your customers.

Panel Discussion
Partnerships are still a crucial way for insurers to acquire new innovations and insurtechs to grow their businesses. But what has worked well so far might not be the best way forward. Let’s listen to the incumbents and the insurtechs as they discuss what they’ve been doing to maximise their partnership potential and how they’re looking to evolve their plans.

Panel Discussion
Autonomous vehicles are steadily trundling into view along the horizon. But while they’re not overwhelming our roads just yet, there’s plenty to suggest that we should start to prepare for that day. There are a couple of things we should really be considering: 1. What are the Risks and 2. Who is responsible for covering them? With software capable of being hacked (and malfunctioning) as well as hardware and any potential human error that might come into play there are quite a few factors that insurers need to consider so that they can be well-placed to succeed in the AV market.

Fireside Chat
AI has become a very common theme in the insurtech space but some reach dizzying new heights while others struggle. We’ll be taking a look at the investors’ perspective as they highlight which insurtechs that use AI have been successful, where that success has come from and what they look out for in an AI insurtech that has real potential.

Networking Break
Network with over 800 top industry leaders.

Panel Discussion
It’s been over a year since Covid-19 took hold and lockdowns began. Coming at a time of constant digital disruption and low interest rates, this led to huge implications across the insurance value chain. In this session, we’ll be taking a look at those changes and taking a deep dive into how to adapt to the fallout in the “new normal” and what opportunities there are to add value to affected consumers.

Panel Discussion
After an initial, and frankly very much expected, dip in insurtech investment at the start of 2020, things have been moving back towards pre-pandemic levels. As the insurance industry gets increasingly global and investments, exits and partnerships become borderless, there is even more intrigue surrounding who’s going to come out on top. In this session, investors will share insights into the types of insurtechs that are taking the insurance industry by storm and how they’re impacting the global insurance scene.

Panel Discussion

Distribution has taken an interesting turn over the last year. Face-to-face meetings took a real hit and the market had to adapt quickly to ensure that business could keep trucking along. But how have consumers reacted to these changes? In this session, we’ll explore the changing buying needs of customers while taking a look at how insurers can keep getting their products into the hands of customers in a way that suits them.

Keynote
The problem of data has been fairly constant for a while now. In 2013, the amount of data worldwide reached 4.4 zettabytes (4.4 trillion GB) and 44 ZB in 2020. The IDC expects that number to reach 175 ZB by 2025 so the data issue is only getting bigger. Now is the time to make sure that you get data into your business strategy, or else be left floundering by the insurers that do.

Panel Discussion
IoT devices are becoming all the rage at the moment. And no wonder, they have so much potential! They have the capacity to provide insurers with so much varied data that can really give the claims process a shot in the arm. This session will dive into how IoT devices can help insurers speed up claims processes so that they can be filed at speeds that until now had only been dreamed up by insurance science fiction writers (we’re pretty sure there must be one out there!)

Networking Break
Finish the day whilst networking with over 800 top industry executives, entrepreneurs and investors from all over the world.

Day 2

Networking break
Welcome to The Global Insurtech Leaders’ Summit 2021, World’s Most Exclusive Insurtech Summit.

Panel Discussion
Customers can be fickle. Their expectations can change at the drop of a hat and while we’re always taking a look at the data to figure out what these trends are, it’s good to have a chat about it once in a while. Let’s take a look at who those customers of tomorrow will be within the APAC region and how insurers can look to make sure they feel secure.

Keynote
Operational excellence is what all businesses strive for and technology can give insurers a big helping hand in working towards that goal. Automating internal processes is one of the key use cases of AI and can allow your talented workforce to focus on more difficult, human-reliant tasks. But which processes can you automate and how will this affect the culture in your office?

Fireside Chat
Carriers sometimes find it difficult to appeal to younger generations while the technology provided by B2C insurtechs can be confusing for older generations meaning a currently unfilled gap between the two. Not many insurers have found the key blend of market share and consumers from across the generations and with the population ageing and Generation Z entering the market, it’s a great time to find out what binds them all together and how insurers can develop products that provide value to all.

Panel Discussion

You don’t have many chances to impress when it comes to claims. And many customers aren’t impressed. Already going through a frustrating period, they are often met with a process lacking in clarity which only compounds the frustration and highlights particular pain points. It’s not all doom and gloom though. PwC research has suggested that while 62% of customers share bad experiences, over 70% will share positive experiences with their friends, family and colleagues. So, while getting is obviously a nightmare, getting it right is one of the better dreams you’ll have all year. This session will isolate how insurers can eliminate pain points within claims and deliver customer-centric process that fits with their needs – and so 70% of your customers start shouting about how great it was!

Panel Discussion
Life insurance has dwindled behind other areas of the industry so far. Let’s face it, it could do with complete overhaul. Customer engagement still remains low, it’s hard to find organic ways of integrating life insurance products into other customer journeys and the policies can be so long and conveluted that people don’t always feel at ease with their policy. So let’s turn this thing around! This session will have our life insurance gurus taking you on a journey to find out how to completely reimagine life insurance so that it can catch up with it’s siblings, health and P&C.

Panel Discussion
Climate change is starting to drastically affect the global population. Forest fires, floods and droughts are ravaging vast areas of the world and insurers need to find a way of being there for the local populace if, or more likely when, they are hit with a devastating event. This panel will cover the areas that are most at risk and how insurers can look to sufficiently cover customers within those areas to give them peace of mind if the worst should happen.

Networking Break
Network with over 800 top industry leaders.

Panel Discussion
Another year, another policy. Most customers are still looking for the cheapest deal when it comes to renewing their insurance and with policies that are full of jargon they don’t always fully grasp what they’re covered for. It’s commonly accepted that it’s cheaper and more profitable to retain a customer than find a new one so now more than ever, insurers have to find a way of creating loyalty among their customer base.

Panel Discussion
Reinsurers have been hit pretty hard recently. The top 20 global reinsurers reported $12 billion in losses as a result of Covid-19 and overall the outlook for the future is pretty bleak despite the sector being fairly well-capitalised. Even pre-Covid, the trends didn’t make for positive reading so it’s vital that reinsurance leaders put their heads together to drive towards the future. In this session, we’ll look at how the reinsurance world reacted to the pandemic and how they can create innovative strategies to shoot forward into the next decade.

Fireside Chat
Innovations are coming thick and fast in the African insurance landscape and we may be seeing new challengers emerging in the continent in years to come. Here we’ll examine Africa’s emerging insurance digital innovations and how insurers can tap into the market to gain traction within it.

Panel Discussion
Innovations are coming thick and fast in the African and LatAm insurance landscapes and we may be seeing new challengers emerging in the regions in years to come. Here we’ll examine emerging insurance digital innovations and how insurers can tap into the market to gain traction within it.

Panel Discussion
Digital changes have taken hold across the insurance value chain and sales is no different. Covid-19 accelerated a move towards digital for most insurers but has it been all that successful? This session will provide you with the steps to adapt to a new distribution model and how you can take advantage of this accelerated change to build one that gets you ahead of your competition.

Networking Break
Network with over 800 top industry leaders.

Panel Discussion
Many tools and technologies can be integrated into the underwriting process to improve efficiency and accuracy. A key difficulty is transforming underwriting functions while keeping business as usual and you may need to upskill your workers to adapt to the new way of life. This session will take you on a journey as you find out how to keep things going as you undertake your digital transformation process and how to get the best out of it when you’re on the other side of it.

Panel Discussion
We all want to use the latest tech. Not only is it fun and shiny, it can provide tremendous value to your business. The issue is, what tech should you be going for? A great place to start is by thinking about what tools your customers are using (and would like to use). Here’s where we’ll be taking a look at the intersection of tech innovation and customer satisfaction. We’ll show you what tools you should be investing in and developing so that your customers can have as seamless an interaction with your company as possible.

Panel Discussion
Covid-19 highlighted some stark problems among the general population across the globe. Suffice to say that there were plenty of consumers who didn’t have a positive experience. But how has health insurance adapted? And how can health insurers make sure that their consumers have a positive experience in future?

Keynote
The ability to innovate is vital for insurers’ success and financial strength and the pace is showing no signs of slowing down any time soon. But how do you measure innovation? With no clear metrics to go on it can be difficult to judge just how fruitful new projects are. But there is a solution! AM Best has spent a great deal of time evaluating the levels of innovation within insurance companies while developing a clearly defined rating criteria to boot. This keynote address will show you exactly how this criteria functions, what lines of business are innovating the most, what companies are pushing boundaries and what trends AM Best expects for the coming year.

Panel Discussion
The global population is ageing. At the moment, around a billion people are aged 60 or over (13% of the world’s populace) but the UN predicts that this will double in the next 30 years meaning that people over 60 will make up a quarter of the population in almost every corner of the world. As the silver economy emerges and retirement ages increase around the world, it’s up to insurers to figure out how best to keep people safe, insured and even healthier. In this session, our experts will give you a deeper understanding of the silver economy and the impact that insurers can have on this emerging portion of the global population.

Panel Discussion
Only 5% of businesses were covered under their interruption policies as a result of Covid-19. Even some that were covered haven’t received payments which has hugely affected how businesses perceive the insurance industry — the industry they thought was there to protect them in exactly that situation. Laying the blame at the feet of all insurers is unfair but rebuilding that trust is vital. In this session, you’ll learn how carriers can rebuild trust between businesses and insurers to make sure that relationships can continue into the future and what policies will start having to be offered to make sure that history doesn’t repeat itself.

Networking Break
Finish the day whilst networking with over 800 top industry executives, entrepreneurs and investors from all over the world.