In this session, speakers give an overview on Insurtech. Over recent years, the insurance industry has seen the application of new technology such as automation, artificial intelligence, Blockchain, big data and chatbots.
As InsurTech proliferates into all corners of the insurance market, an increasingly diverse set of skills and backgrounds is required. Individuals with extensive market experience but limited tech knowledge are asked to support implementation, and newcomers to the market are keen to drive innovation.
Whilst some insurers already have established digital strategies, others are still in the early stages of ideation. There are also a number of influencing factors, including legacy systems, GDPR and cyber risks which must be negotiated in order to build a robust digital strategy. Furthermore, InsurTech innovations are typically driven by customer or business requirements, rather than the traditional IT model.
This research offers a timely overview of the key topics to those involved in the development of digital strategies who may not have prior experience of InsurTech or IT. This book builds on existing publications which explore GI and Life InsurTech by focusing on the London Market. The research encompasses all aspects of the London Market, including Broking, Underwriting, Claims and Reinsurance.