There were dozens of insurtech companies in the exposition hall at Las Vegas’s MGM Grand Hotel, the locale for the Insuretech Connect 2018 conference sponsored by Oliver Wyman. Many of these new companies had great ideas that could potentially disrupt and transform the insurance industry.
The future is closer than ever.Innovation in insurance has more often come from the property & casualty side (for example, telematics in auto insurance). Partly because of the nature of the products, and perhaps also because of the age of company systems, life insurance has been slower to change. But change is definitely afoot.
An ongoing theme at InsureTech Connect 2018 (ITC18) was finding a customer need and delivering a customer-based solution. ITC18 went beyond mere discussion from the outset as attendees of Credit Karma founder and CEO Kenneth Lin’s keynote “Karma in Insurance” discovered.
Recent years have seen a major rise in InsurTech investments across the world, and France is no exception. In fact, a large share of these investments comes from insurance and reinsurance players, underlining their belief in an inevitable and necessary transformation of the industry as we know it.
The Mayor of Hartford, CT on fostering insurance innovationHartford, Connecticut has a big insurance industry and its mayor Luke Bronin wants to keep it that way. That’s why he is attending Insurtech Connect 2018. “We’ve been home to many insurance companies for over a hundred years,” he said. Bronin is looking to connect with executives from big insurance companies, of course.
InsureTech Connect 2018 Presented by Oliver Wyman brought together over 5,500 leaders from startups, incumbents, investors, regulators and more. With participants representing 55 countries ITC has quickly become the world’s largest insurance industry gathering and the most efficient way to connect with the people who are changing the industry.
Join Oliver Wyman’s Paul Ricard at ITC 2018 as he catches up with Max Drucker, CEO of Carpe Data, an emerging alternative data company serving only insurers.
In the second content discussion at ITC 2018 to feature contributions from Marsh, John Drzik, President Global Risk and Digital, presented the broker point of view in a lively discussion of where legacy processes and systems fit into the fast-changing world of insurtech.
