After years of Covid restrictions, live in-person events are truly back with a passion. This week, The Fintech Times attends Insurtech Week in London, beelining for Insurtech Insights.
Insurtech Insights is a global ecosystem aiming to connect industry leaders and decision-makers with innovative startups who are challenging the insurance market, in order to create mutual business opportunities and accelerate growth. With attendees from established Insurtech companies to C-level Executives from leading Insurance Carriers, Reinsurers, Investors and innovating Start-up businesses, the event promises to be one of great opportunities.
After a fantastic first day with a full agenda of panels, keynotes and fireside chats, we tuned in to a few of the day’s sessions to hear more about what’s going on in insurtech.
Panel: Meet the bionic underwriter of the future
Artifical Intelligence (AI) offers unprecedented opportunities to improve the way underwriters select, target and price risk. Insurers that integrate emerging technologies and new sources of data will gain a competitive edge by way of improved loss ratios, innovative products ad a more efficient workforce.
Moderated by Gil Arazi, Founder and General Partner, FinTLV Ventures, this panel discussed what practical steps insurers can take to prepare for the age of bionic underwriting, with Silvi Wompa Sinclair, Group Head of Portfolio Underwriting, Swiss Re, Rafal Modzewski, Co-founder and CEO, ICEYE and Antton Peña, Founder and Chief Product Officer, Flock.
Silvi said: “Life & health insurance is one of the areas that has been sadly the least touched by insurtech. My hope is that using this data would mean better accessibility…and I would also hope that means more transparent pricing of it.”
Panel: Embedding Insurtech into Online Communities
Charles Clegg, Co-Founder and CEO, Custodian, Nathalia Rus, Co-Founder and Founding Engineer, Custodian, and Will Thorne, Head of P&C Ventures, SCOR, sat down to discuss embedding insurance into online communities.
On this, Clegg said: “For us, you’re acquiring the data and actually doing it in a way which users are happy to input as opposed to sending them a form which no one enjoys…it’s about streamlining the process and removing excessive volumes of detail.”