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InsurTech: What’s in it for you?
February 23, 2017 @ 3:00 pm - 4:00 pm
InsurTech refers to the digital innovations and devices transforming the insurance industry. It is a combination of two words: Insurance and Technology. ‘The insurtech space has emerged as one of the largest innovation ecosystems globally in 2016, with $4.74bn (470 deals) invested in the space since 2011’, according to CB Insights.
In this online Expert Forum we will speak with Jody Delichte of Inclusivity Solutions, M.K. Balachandran of HDFCErgo and Andrea Silvello of DigitalTech International. They will share their experience about inclusive digital insurance markets: What is the potential impact of InsurTech? What will the future hold for clients and their inclusive insurance organisations alike?
As with all financial service lines of business, insurance providers are leveraging sophisticated data and insights to provide highly personalised products to meet consumers’ increasingly specific expectations. The sharing economy demands niche products, and only those products that are relevant to users’ usage and behaviour patterns will remain successful.
Digital financial services open up new opportunities for improving overall levels of inclusive insurance by providing a first entry point into the formal financial system for the unbanked, poor, and financially excluded populations.
By lowering costs, overcoming physical infrastructure barriers, extending reach, and offering more convenient and faster transactions, the digitisation of financial and insurance services is also seen as a key contributing factor to the economic empowerment of women, farmers, and to overall inclusive and sustainable growth.
This Expert Forum is about exploring opportunities and will be a starting point for those thinking of developing and adopting new InsurTech solutions.