The 2nd Annual FT Insurance Innovation Summit will bring together leading executives and industry experts to discuss the best strategies to adapt and innovate in this rapidly evolving industry.
FT Insurance Innovation Summit
Driving Growth Now and Positioning for Future Success
QBE Insurance Group
C.V. Starr & Co
HEAR FROM PAST ATTENDEES:
“Very uncommon to attract such a high level of expertise to an inaugural event. FT pulled it off.” Tim Nowak, Johnson Lambert
“An outstanding opportunity to learn the best practices from industry leaders that are timely and relevant to my business.” Frankie Rowland, North-western Mutual, Park Avenue
“Excellent conference highlighting innovative insurance industry trends.” Peter Miscovich, JLL
Insurers are acutely aware of the disruption and change facing their industry. Many have taken great strides to proactively explore emerging technologies, rethink organizational structures and internal processes, and develop (or acquire) new capabilities. But industry-wide transformation and wide scale adoption do not happen overnight, and keeping pace in today’s competitive landscape isn’t just a matter of positioning for future success. Executives must also keep one foot on the pedals driving growth and customer satisfaction in the present.
As companies look to assess the return on their investments in technology, people and products, insurers have the challenging task of determining where and how to continue investing their time and resources. The industry is beginning to see that innovation is an iterative process, and savvy leaders will ensure their organizations are agile enough to respond to shifting trends, while still moving the needle forward in areas that will show immediate improvement to the bottom line.
Manish Agarwal is the General Partner of AXA Strategic Ventures (ASV), based in New York City. His primary focus is on making early stage investments in the US and helping young companies grow and scale. He sits on the boards of a number of ASV portfolio companies including, among others, Neura, Bee Financial, Limelight Health and PriceMethod. Prior to joining ASV, he held a number of investing, operational and strategic roles. Most recently, he was the Head of Financial Protection for AXA US, responsible for the company’s life insurance business. He also led AXA’s investment in Planmember and the disposal of the MONY closed block. Mr Agarwal started his career at McKinsey & Company, where he led client teams in engagements across strategy, corporate finance, and operations and technology. He earned his MS and PhD at Carnegie Mellon University and BTech at the Indian Institute of Technology.
Yaron Ben-Zvi loves building things that make a difference. That’s how he came to be the Co-Founder and CEO of Haven Life, MassMutual’s in-house startup that’s setting the pace for innovation in life insurance. Mr Ben-Zvi worked with several other startups before launching Haven Life in industries as varied as asset management and media, yet the complexity and opportunity in life insurance kept calling him to the cause. Part entrepreneur, part executive, and part family man, he sometimes struggles to make all these parts work together. A graduate of Wesleyan University and the Wharton School of Business, he believes strongly in the value of a liberal arts education.
Lisa Henderson serves as Chief Strategist, Casualty Products and InsurTech Consulting for Milliman’s Property & Casualty practice. She is responsible for the group’s product marketing strategy, sales growth, and brand development. She specializes in strategy as it relates to property & casualty InsurTech solutions and consulting services. Ms Henderson has over 20 years of executive management experience with technology companies, with a focus on implementing market-driven strategies and solutions. Prior to Milliman, she served as Executive Vice President of Sales and Marketing for DFA Capital Management (acquired by Conning Asset Management) where she created and built product marketing and business development functions, and grew strategic partnerships with global brands. Prior to DFA, she served as CEO of Princeton Softech (acquired by IBM), pioneering a new category and market for data archiving and information life cycle management (ILM). At Princeton Softech, and in her role as Executive Vice President of Operations for LivePerson, she implemented strategic and operating planning processes based on market research and assessments, in order to achieve business objectives.
Richard Hartley is Co-Founder and CEO of Cytora, an artificial intelligence company powering a new way for commercial insurers to target, select and price risk. Prior to Cytora, he worked in product strategy at eBaoTech Shanghai, a cloud technology vendor to the insurance industry. Mr Hartley holds a BA from the University of Manchester and a Master’s in Political Science from the University College London.
Robert Mozeika is Innovation Executive at Munich Reinsurance America, Inc, where he works with the Reinsurance Division to investigate clients’ strategic business needs in order to identify potential technology startup solutions. Based in Princeton, he is a member of the Reinsurance Division Leadership Team. Mr Mozeika is instrumental in helping clients develop plans to integrate this technology into their organizations. For the past two years he served as an Innoscout in Silicon Valley. In that position he was responsible for partnering with technology companies that could enhance Munich Re’s business processes, developing new emerging products, and exploring new business models. While in Silicon Valley, he established a leadership position in the InsurTech space, acquired vast knowledge of technology trends and established an extensive network of technology partners. Mr Mozeika will continue to play a key role in Munich Re’s relationship with Plug N Play and bring to market trends in the InsurTech space.
Sean Ringsted is Executive Vice President, Chief Digital Officer and Chief Risk Officer for Chubb Group. Mr Ringsted leads Chubb’s digital efforts aimed at transforming the company into a digitally integrated organization. He is also responsible for the continued development and implementation of Chubb’s risk management strategy, risk management framework and related processes across the company. Mr Ringsted has 25 years of experience in the insurance industry and was appointed Chief Digital Officer in 2017. He has served as the company’s Chief Risk Officer since 2008, prior to ACE’s acquisition of Chubb in 2016. Mr Ringsted was named Executive Vice President, ACE Group, in March 2014. Mr Ringsted’s previous leadership roles at the company include serving as Chief Actuary, Executive Vice President and Chief Risk Officer for ACE Tempest Re, and Senior Vice President and Chief Actuary for ACE Tempest Re. Prior to ACE, he was a Consultant at Tillinghast-Towers Perrin. Mr Ringsted holds a B.S. degree in Biochemistry from Bristol University and a Doctorate in Biochemistry from Oxford University. He is a Fellow of the Institute of Actuaries (FIA).
Satadru Sengupta has been a practicing data scientist for more than ten years. Before DataRobot, he led the Global Distribution Analytics at the AIG Science Team and previously worked with Liberty Mutual Insurance and Deloitte Consulting. In his current role as the General Manager of Insurance he runs the insurance practice at DataRobot, where he spends half his time on strategy, thought leadership and client advisory, and the other half doing hands-on work on the front line.
Chair and Moderators (2)
Oliver Ralph is the Insurance Correspondent at the Financial Times. Prior to this Mr Ralph was Deputy Head of Lex since 2014, specialising in banking, finance and consumer. He has also been a Lex writer and, prior to this, the FT UK Companies Editor. He joined the Financial Times in 2009, having worked at Investors Chronicle from 2000 to 2009 and Euromoney from 1998 to 2000. He graduated from the University of Edinburgh in 1996.
Alistair Gray is US Financial Correspondent at the Financial Times (FT) in New York. Previously, he served as Insurance Correspondent based in London. He joined the financial services team after three years as a reporter on the companies desk. Before that he covered markets in London and New York. Mr Gray joined the FT as a graduate trainee in 2007.
Agenda - 11th Apr
8:00amBreakfast and Registration
Oliver Ralph, Insurance Correspondent, Financial Times
8:50amKeynote: Getting from Market Disruption to Market Adoption
This opening keynote provides context for the day, discussing the major trends impacting today’s insurers and highlighting the progress made thus far. What areas are beginning to see widespread market adoption of disruptive technology, and where is the industry headed?
Edward Chanda, Partner, KPMG
9:20amPanel Discussion: Reviewing the Digital Scorecard
The pace of digital transformation is accelerating all along the value chain, from marketing and customer acquisition to underwriting and claims. This panel of CTOs and CDOs will share their experience utilizing digital tools and technologies to lower costs, drive stronger customer loyalty and engagement, and enhance profitability throughout the organization.
Greg Baxter, Chief Digital Officer, MetLife
Deno Fischer, Principle, Customer Solutions Advisory Practice, KPMG
Sean Ringstead, Executive Vice President, Chief Digital Officer and Chief Risk Officer, Chubb Group
10:40amKeynote Interview: Connecting the Dots Between Traditional and New Digital Economies
We know that trends in robotics, AI, fintech and insurtech will ultimately transform the insurance industry, but how will this directly translate to improved customer experience? How can insurers harness new technologies to better understand consumers and meet their expectations?
Naveen Agarwal, Senior Vice President and Chief Customer Officer, Prudential
11:10amPanel Discussion: Driving Growth through Distribution
Distribution strategies continue to evolve as insurers devise ways to better utilize technology to support traditional distribution networks, as well as ways to reach customers through new channels. This panel of experts will discuss technology-led shifts in the overall distribution landscape: What key capabilities do so-called “bionic agents” need in order to increase cost efficiency and revenue growth? Will online-only and mobile-first channels become more prevalent as customers demand greater transparency and speed in the purchasing process? What new market opportunities are developing as insurers experiment with partnerships that extend beyond financial services and into the tech industry?
Ben Bengtson, Global Leader Insurance Industry Markets, Cognizant Technology Systems
Yaron Ben-Zvi, Co-Founder and CEO, Haven Life
1:00pmKeynote: Putting a Stake in the Ground
This keynote examines the decision-making process executives are using to determine what is and is not working in their pursuit of innovation and change.
Maurice Greenberg, Chairman and CEO, C.V. Starr & Co
1:20pmPanel Discussion: Deepening the InsurTech Relationship
The insurance industry continues to court insurance technology solutions through strategic investments, acquisitions and in-house efforts. What does the next stage in the relationship look like as the insurtech landscape matures and firms begin to demand more from their investments? Which insights and applications are delivering immediate gains, and what capabilities are insurers willing to wait for?
Manish Agarwal, General Partner, AXA Strategic Ventures
Lisa Henderson, Chief Strategist, Casualty Products and InsurTech Consulting, Milliman
Robert Mozeika, Innovation Executive, Munich Reinsurance
Martha Notaras, Partner, XL Innovate
2:00pmPanel Discussion: Automation, Artificial Intelligence and Machine Learning
For those who do not have a deep understanding of data science, it can be difficult to discern the value of, and distinguish between, technologies that promise gains through automation, artificial intelligence, and AI’s newer cousin machine learning. This panel of experts will provide examples of each and discuss how the insurance industry will be impacted both immediately and in the future.
Richard Hartley, Chief Executive Officer, Cytora
Cindy Forbes, Chief Analytics Officer, Manulife
Gina Papush, Chief Data and Analytics Officer, QBE Insurance Group
Satadru Sengupta, General Manager and Data Scientist, DataRobot
2:40pmPanel Discussion: Accountability, Liability and the Changing Nature of Risk
As with any industry facing rapid change, the insurance industry’s new focus on innovation brings with it an increasing need to reevaluate new risks and liabilities and ensure processes are in place to account for increased responsibilities. As firms rely more on technology, who becomes accountable for decisions made by said technology, and what recourse will be demanded by those affected by miscalculations or erroneous assumptions?
Mariel Devesa, Head of Product Innovation, Farmers Insurance
- Understand applications for new and innovative technologies coming down the pipeline that will impact the way insurers do business in the future.
- Gain insights from experts on how to better identify and capitalize on future technology and consumer trends.
- Learn from the leading innovators in the industry what areas for investment currently offer the most compelling new business opportunities.
- Hear from regulatory authorities about their views on innovation and guidance for the road ahead.
- Network with senior executives from leading regional and nationwide insurance companies, as well as technology and industry experts.
The FT Insurance Innovation Summit will bring together CEOs, CFOs, CIOs, Chief Customer Officers, Chief Technology Officers, Heads of Business Strategy, Heads of Research & Development, VP Marketing & Sales, Heads & VP Business Development, CMOs, etc. and other senior-level executives in the following sectors:
- Property & Casualty Insurance
- Life Insurance
- Non- Life Reinsurance
- Credit Rating Companies
- Technology Consultants
- Technology and Research Providers
Lead Sponsor (1)
DataRobot provides the fastest path to the AI competence for organizations of all sizes through its Automated Machine Learning platform. For any 21st-century insurance company - large, medium, or small, AI & machine learning has to be a core capability. From Distribution, Marketing, Underwriting to Claims & Operations - AI applications are driving profitable growth for companies through better and faster decisions and making their customers highly satisfied. With DataRobot platform, organizations develop, integrate, and operationalize AI applications across all core functions. Moreover, DataRobot offers on-demand strategic advisory and AI courses for executives and analysts. This moves them significantly in the AI-competence maturity curve. Founded in 2012, and built by insurance veterans with more than 100+ years of combined experience from several F100 companies, DataRobot raised $125 million in funding, grew to a 300+ organization, and has a global customer base that covers a large number of global F500 companies from a variety of industries. Please visit www.datarobot.com/insurance for more information, a product demo, or simply chat with one of our industry experts.
Associate Sponsors (4)
BOLT® Solutions, Inc., the leading provider of digital distribution solutions to the P&C insurance industry, is helping insurers transform the way they sell and market products to consumers and small business owners. Designed to support direct-to-consumer distribution, as well as agents and underwriters, the innovative BOLT PlatformTM easily appends to existing technology and seamlessly connects with back office systems, putting customer data, the power of analytics, and a vast selection of products in one accessible location.
Empowered with a digital distribution platform that offers a universal market network of products, the BOLT Platform enables carriers to boost premiums by offering consumers product choice and anytime, anywhere purchasing power. Insurers gain the ability to meet all of the customer's needs through their channel of choice without underwriting all of the risk. With the channels, tools, and products necessary to engage customers, insurers watch acquisition and retention rates rise and revenues soar.
BOLT has led the InsurTech charge toward innovative and powerful answers to the contemporary challenges insurers face. The BOLT Platform is the only digital distribution solution offering both personal and commercial product lines through a universal market network.
Cognizant (NASDAQ-100: CTSH) is one of the world’s leading professional services companies, transforming clients’ business, operating and technology models for the digital era. Our unique, industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. We serve 7 of top 10 global insurers and 33 of the top 50 US carriers.
Headquartered in the U.S., Cognizant is ranked 205 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.
Cytora is an artificial intelligence company powering a new way for commercial insurers to target, select and price risk. With the Cytora Risk Engine, insurers can measurably grow premium and reduce loss ratios while delivering more accurate prices to customers. Cytora is backed by leading venture capital, global insurance companies and builders of some of the world's most successful technology companies including Funding Circle, Risk Management Solutions, Indeed.com, and Swiftkey.
Milliman is among the world's largest providers of actuarial, risk management and technology solutions. Our data, consulting and advanced analytics capabilities encompass healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. We serve the full spectrum of business, financial, government, union, education, and nonprofit organizations.
Supporting Partner (1)
In addition to being a global credit rating agency, A.M. Best is a publisher of (re)insurance industry references and resources, online and in print. A.M. Best's flagship publication, Best's Insurance Reports, is made up of detailed analytical reports on thousands of insurers in the U.S., Canada, U.K., Continental Europe, Asia-Pacific and across the rest of the world. A.M. Best's Financial Suite presents value-added data from insurers' financial statements. A respected source of original news reporting on the insurance industry, Best's Insurance News & Analysis is a comprehensive service that provides access to special reports, statistical studies, the BestWeek news wrap-up, Best's Review monthly magazine, and the BestDay daily news digest from the A.M. Best Company.
Super Early Bird Rate (applied till Feb 10)
Early Bird Rate (applied from Feb 11 - March 10 2018)
Standard Rate (applied after March 11, 2018)