As many of our readers may be aware, The FR is a regular on the industry conference circuit. We travel to and fro, always seeking out innovative folks to meet and mingle with and the latest tech poised to change the world.
We recently attended an FR partner’s event, InsureTech Connect, in beautiful Las Vegas.
As you know, insurtech is hot these days, and ITC was the place to be to get the lowdown on the cutting-edge developments in this sector:
Automate. Automate. Repeat. We heard a lot about how technology — and specifically data analytics tools — can help create back-office efficiencies and reduce costs. Insurance is paper-intensive, and many operational functions involving paper and manual processes can be automated to save insurers time and money.
Changing customer expectations. Another big theme was how digital is changing not just the customer experience, but the customer expectation. Robust digital services are no longer a “nice-to-have,” but a must-have. Technologies like AI and robust data mining tools are changing the way insurers interact with their customers.
Start-up valuations — too high, too low, or just right? We especially enjoyed a panel of VCs that discussed whether the soaring start-up valuations for insurtechs are headed for a possible hangover.
Until next year . . . #ITC2020orBust!