The insurance industry has experienced a technology revolution over the past decade. Emerging capabilities such as telematics, artificial intelligence, big data, aerial imaging, and claims automation have become more prevalent as insurers have doubled down on using technology for optimization of both cost and processes.
Despite the market uncertainty created by COVID-19, insurtech startups have continued to focus on helping move the insurance industry forward. Various trends have been shaping the industry, such as mortality awareness, customers demand for digital services, new insurance categories, shifting of workforce paradigms and many others.
Global InsurTech funding reaches an emphatic record; the first half of 2021 already exceeds the full year of 2020 funding, with InsurTechs raising $7.4 billion.
Geographic diversity among global InsurTechs continues to grow, with InsurTechs from 35 distinct countries securing investments, compared with 26 countries in Q1 2021.
A 7% increase from the prior quarter, InsurTechs driving efficiency in insurance distribution continues to be a major priority for investors. This quarter, 55% of deals involved start-ups focused on distribution (i.e., digital brokers, MGAs and lead generation). In addition, 10 of the 15 InsurTechs that raised mega-rounds recently focused on improving insurance distribution, with varying approaches.
These are only several indicators to the transition the market is taking in adopting technology for insurance purposes. From digital onboarding, AI based claims, data extrapolation and legacy systems. The insurance landscape is gaining traction where it comes to the opportunities for better, accurate, tailored insurance.
BENEFITS OF ATTENDING
- Review how InsurTechs responded to COVID-19, what opportunities were ripe, and which were diminished.
- Learn what the InsurTech landscape looks like, who are the main participants
- Explore various novel solutions which have shifted customer relationship and insurance concept.
- Discuss the tectonic movement of the traditional insurers, how relevant will they become in the future, and which are taking an active approach towards InsurTech adoption;
- Review how InsurTech can improve processes in a post-pandemic era;
- Face insurance challenges and acquire tools to locate solutions for them;
- Where does insurance starts and ends, how can non-insurers draw benefit from adopting InsurTech.
WHO SHOULD ATTEND
This is an essential course for all individuals responsible for innovation and insurance value proposition, or those interested to stay current and improve their understanding of the opportunities and trends in the insurance industry.
Insurance value proposition can be bundled to many other customer facing engagements, and shouldn’t be focused only for the traditional insurance industry. If your firm has a strong client base, this course will unveil the opportunities for insurance engagement with them. Creation of novel value proposition and revenue steam, while increasing loyalty and innovative positioning.
An Introduction to InsurTech Sector
- Key emerging technologies are being leveraged by the insurance industry. A deeper understanding of how artificial intelligence and machine learning technologies are utilized in InsurTech.
- Review of the InsurTech segment growth and evolution in recent years and the corespondance between enablers, distributers and full carriers.
- Market size and industry statistics.
Redefining the Insurance Industry
- Where does insurance based innovation meet the financial institutions and how they are harnessing the new capabilities.
- The evolving risk landscape, business dynamics and consumer preferences
- Business model and key commercial drivers.
Insurance for Non Insurers
- Bundling InsurTech capabilities to increase client interest and range of financial services.
- Analyzing sectors which utilize InsurTech benefit, providing a novel the paradigm of managing industry challenges while allowing smooth engagement for internal and external customers.
- The rise of Big-Techs providing insurance and their impact on the market and institutional insurers.
- The rise for innovation capabilities in the evolving digital only engagement.
- Trends and innovation tackling the new challenges of Insurance, from underwriting to claim management and customer visibility.
- Leading companies providing quality solutions to tackle new insurance requirements, including real time response, Insurance as a Utility, pier to pier insurance and others.
The Future of InsurTech
- Utilizing data as a business enabler. Outlining the restructuring of traditional insurance into ongoing, dynamic and responsive industry.
- Wearables as entry point for novel insurance value proposition.
Opened courses and exams
For more information, contact our education organizer
phone: +36 20 391 7668