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Insurance X Tech = "A Happily Ever After" Union?

6 July

APAC

Synopsis

Is Tech a Game Changer or Merely an Efficiency Facilitator for the Insurance Industry?

Insurtech via Distributed Ledger Technology is delivering the promise of efficiency, accuracy, speed, cost reductions and financial inclusion. Has the pandemic, the ensuing global recession and the harder reinsurance market, created the “perfect storm” encouraging an unbias adoption of insurtech or will insurance always be a “relationship business” at its core? Join us to discuss the possible future of insurance and risk management.

Speakers / Moderators

Farah Jaafar-Crossby

Farah Jaafar-Crosby

Chief Executive Officer
Labuan IBFC

Steve Tunstall

Steve Tunstall

General Secretary 
PARIMA

Jack Xia

Chief Actuary
  Igloo

George Kesselman

President
  InsurTech Asia Association

Event Summary

The panel explored why the Insuretech space hasn’t gained much traction to date with large corporates and other big buyers of insurance, despite technology revolutionising some elements of personal insurance and many other industries.

The panel talked about the traditional ways of working in the industry, which are heavily dependent on relationships and the high level of bespoke solutions required. Another challenge is the diversity & accessibility of data pools which could potentially serves as the fuel for technological change.

Drawing parallel from other industries – the platforms that are coming in to automate marketing are not necessarily going to displace the intermediaries but more likely to change their role to be more service-related.

With COVID-19 exacerbating already hardening markets, it seems likely that pressure on corporate bottom lines will drive change and lead to digitalisation in the industry? But how soon remains unclear.

More About This Event​​

Presentation Deck

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