CEO Perspectives: The Road Ahead In this age of the app economy, insurance CEOs understand the need for change and are concerned about keeping pace with industry innovations, especially regarding technology. But, balancing budgets and IT priorities between maintenance and innovation has never been easy, and now more than ever it’s a team effort. The transformation that thought-leading CEOs envision requires commitment from the board, senior management and influencers throughout the organization. And the future must be defined in a way that a multi-generational workforce, partner ecosystem and customers can understand and rally behind. This session offers a CEO’s thoughts and suggestions on leading change in a time of deep uncertainty yet extreme opportunity, and what it takes to translate vision into results.
SPEAKER: Martin Welch, CEO, Hawaii Employers Mutual
Accelerating Innovation for Incumbent Insurers AND InsurTech Entrepreneurs
, Managing Director at the Global Insurance Accelerator (GIA) will lead a discussion on how today’s insurance technology (insurtech)
revolution is changing up business models, product definition and delivery, underwriting, pricing, and the regulatory landscape. How should emerging insurtech business models affect technology decisions of incumbent insurers? What lessons can be learned from executives and entrepreneurs engaged in this space? Can participation in an insurance specific accelerator give incumbent insurers a “safe place” to explore new technologies? Balancing existing budgets and IT priorities between maintenance and innovation is just getting harder. Insurance IT executives need resources and strategies for working with insurtech entrepreneurs to move the needle forward, safely, effectively, responsibly, and rapidly as well.
KEYNOTE: The End of Business as Usual Brian Solis
, Digital Analyst, Speaker and Author
In this presentation, Brian depicts how leadership can survive Digital Darwinism by understanding customer and employee behavior and expectations, disruptive technology, innovative business models, and new opportunities. He also demonstrates best practices and methodologies to align the organization around a common and meaningful vision, strategy, and objectives.
TECHNOLOGY SHOWCASE BREAKOUTS
The Connected Home & Real Applications for Insurers Today:
Smart homes are just one example of ways IoT is pushing into the industry. Insurers must find ways to develop new flexible products around our connected world and provide real applications for consumers today. From analyzing home risks and trends to developing more accurate assessment, pricing, and underwriting to using connected home devices such as Amazon’s Echo to provide a deeper, on-demand level of customer service, the connected home is one area where a competitive advantage
can be built and where many insurtechs are outshining their legacy counterparts.
Artificial intelligence and machine learning are no longer futuristic; they’re now. From chat bots to cognitive search technology, machine learning is here, and insurers need to understand and envision the business cases for adoption. It is now possible to use elements of machine learning to build more intelligent insurance software solutions which actually get better over time, and BI is the place to start. Topics covered will include: identifying where machine learning can be applied in the enterprise, how the CIOs can champion machine learning as a key step into innovation, and discerning how machine learning can enhance insights provided by BI solutions.
The Blockchain Invasion:
Blockchain is best known as the foundational database underpinning cryptocurrencies like Bitcoin. Beyond that, blockchain also has everyday applications for the insurance industry. Since blockchain is publicly recorded and managed, perhaps its most unique feature is an ability to establish immutable provenance, which is especially useful to insurers for irrefutably identifying high-value items for underwriting, claims or in potential fraud cases. Further, blockchain is being used today to enable smart insurance contracts. Leading carriers are exploring those and many other potential uses. What are the implications for insurance IT systems, resources, skills, and budgets? In this session you will learn more about blockchain, how it is impacting the insurance industry, what it is specifically, and how it may best be used to achieve your company’s strategic initiatives.