finnCap Group presents Inside the Deal: Ensuring its future – technology and the insurance sector

We’ve partnered with finnCap Group for this edition of Inside the Deal. In this special event, we discussed the challenge of disruptive innovation affecting the insurance industry.

We’ve partnered with finnCap Group for this edition of Inside the Deal. In this special event, we discussed the challenge of disruptive innovation affecting the insurance industry.

Inside the deal Finncap Group banner

The sector has experienced a long period of stability, with many years of consecutive growth. This stability has been built on a digital foundation, which has allowed insurers to scale their businesses and support traditional distribution channels such as agents and brokers, while enabling them to distribute their products efficiently through new channels such as websites and mobile devices.

For many insurers, innovation has become the key to improving their business and staying competitive. The rise of FinTech is one of the biggest disruptions to have taken place in the insurance industry in years, with a number of factors driving this change – from technology to customer expectations.


Host

Contributing speakers


Here’s a breakdown of what we covered:

  • Introductions (2:23)
  • Sophie Winwood, Tom Wynne, Derek Henry & Aldo Monteforte: If you could only say one thing about insurtech, what would it be? (7:24)
  • Ben Goldring & Sophie Winwood: What’s going on in insurtech and why is it so interesting? (10:37)
  • Tom Wynne, Derek Henry, Sophie Winwood, Tom Wynne & Ben Goldring: Why is insurtech important for the customer? (16:39)
  • Derek Henry, Aldo Monteforte & Tom Wynne: Is the future of insurance AI-based? (29:02)
  • Sophie Winwood: Is insurtech the natural progression of the insurance industry or is there a role for both? (35:42)
  • Aldo Monteforte, Derek Henry, Tom Wynne & Sophie Winwood: The more we know about our customer’s data, the better our relationships and the more bespoke our products. What are the pitfalls and what do we need to watch out for here? (37:24)
  • Tom Wynne & Ben Goldring: Is there a risk of big players like Amazon taking over the market? (48:44)
  • Sophie Winwood & Derek Henry: Would an ‘open banking’ model be a potential goldmine for insurtech? (51:03)
  • Aldo Monteforte: What was the biggest lesson learned from being acquired? (53:31)
  • Tom Wynne: To what extent can insurers encourage entrepreneurs to take on risk? (54:46)
  • Sophie Winwood, Derek Henry, Tom Wynne & Aldo Monteforte: What’s next for insurtech? (56:41)
  • Ben Goldring: Final thoughts (59:54)

Watch the other editions of Inside the Deal here.

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