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Insurance, Innovation

FT Insurance Innovation Summit

Combating Inertia and Cutting Through the Noise

New York |
Speakers include:
Lex Baugh

Lex Baugh

AIG

Suzie Elliott

Suzie Elliott

Farmers Insurance

Stephen Pelletier

Stephen Pelletier

Prudential

Overview

Today’s insurance executives face a host of complex demands, from developing an integrated firm-wide strategy for the digital age and adopting emerging technologies to improving operational efficiencies, dealing with disrupted distribution channels, and needing to forge whole new market segments and product solutions to keep pace with competitors and new entrants alike. 

On the digital front, incumbent insurers must move quickly and decisively to retain customers and win new business. Insurtech investments and other efforts to embrace innovation are likewise seen as critical at this juncture. But there is a lot of noise to contend with, and insurers are learning that transformation requires “heavy lifting” from not only a technological standpoint, but also a cultural one. 

Many carriers are beginning to play a larger role in risk prevention and avoidance, leveraging their expertise to create value through services and advice rather than simply bearing the risk. This takes focus off of traditional underwriting and suggests business models will continue to evolve as the Internet of Things, artificial intelligence, the sharing economy and the future of mobility all converge. 

The 3rd 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 changing ecosystem.

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fallback Add to my Calendar 04/11/2019 08:00:0004/11/2019 17:00:00trueFT Insurance Innovation SummitToday’s insurance executives face a host of complex demands, from developing an integrated firm-wide strategy for the digital age and adopting emerging technologies to improving operational efficiencies, dealing with disrupted distribution channels, and needing to forge whole new market segments and product solutions to keep pace with competitors and new entrants alike. On the digital front, incumbent insurers must move quickly and decisively to retain customers and win new business. Insurtech investments and other efforts to embrace innovation are likewise seen as critical at this juncture. But there is a lot of noise to contend with, and insurers are learning that transformation requires “heavy lifting” from not only a technological standpoint, but also a cultural one. Many carriers are beginning to play a larger role in risk prevention and avoidance, leveraging their expertise to create value through services and advice rather than simply bearing the risk. This takes focus off of traditional underwriting and suggests business models will continue to evolve as the Internet of Things, artificial intelligence, the sharing economy and the future of mobility all converge. The 3rd 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 changing ecosystem.FT-Insurance-Innovation-Summit85d38df5497a3a351d2a0ab54d6808cfMM/DD/YYYY

Photos from 2018 Summit

See photos from 2018 event here

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Testimonials

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, Northwestern Mutual

“Excellent conference highlighting innovative insurance industry trends.” - Peter Miscovich, JLL

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Speakers (10)

Lex Baugh

Lex Baugh

CEO, North America General Insurance
AIG
Suzie Elliott

Suzie Elliott

Chief Human Resources Officer
Farmers Insurance
Stephen Pelletier

Stephen Pelletier

EVP and COO, US Businesses
Prudential

Stephen Pelletier is Executive Vice President and Chief Operating Officer of Prudential’s US-based businesses, comprising PGIM (the Global Investment Businesses of Prudential Financial), Prudential Retirement, Prudential Annuities, Individual Life Insurance and Group Insurance, which together had more than $1.3 trillion in assets under management as of September 30, 2018. Before he assumed his current role, Mr Pelletier was CEO of Group Insurance. Previously, he served as President of Prudential Annuities and Chairman and CEO of Prudential International Investments. He joined Prudential in 1992. Mr Pelletier received a Bachelor’s degree from Northwestern University and a Master’s degree from Yale University. He serves on the American Council of Life Insurers board of directors, National Organization on Disability board of directors, Business Executive Cabinet for the Rutgers Institute for Ethical Leadership, and on the board of trustees of Perkins School for the Blind.

Joel Albarella

Joel Albarella

SVP and Head of New York Life Ventures
New York Life
Souheil  Badran

Souheil Badran

EVP, Chief Innovation Officer
Northwestern Mutual

Souheil Badran is Executive Vice President and Chief Innovation Officer at Northwestern Mutual. He is responsible for identifying opportunities in innovation communities and overseeing Northwestern Mutual Future Ventures, Cream City Venture Capital, and the Wisconn Valley Venture Fund. Before beginning at Northwestern Mutual, he served as President of Alipay Americas, the world’s largest third-party payment platform, where he was responsible for enhancing the buying experience of millions of Chinese consumers who shop annually by bringing mobile and online payments to merchants in North and South America. Prior to his beginning at Alipay, Mr Badran served as President and Chief Executive Officer of Edo Interactive, Senior Vice President and General Manager of Digital River, and Senior Vice President and General Manager for First Data Corporation’s E-Commerce Solutions Group. He began his career in Milwaukee at M&I Data Services. Throughout his career, he has had experience with organizations that ranged from venture capital-funded, private equity-owned to various public companies. His career has led him to gain global experience across the e-commerce, big data, security, and payment industries. Mr Badran, born in Lebanon, graduated from Cardinal Stritch University with a Bachelor’s degree in Computer Science in 1988, and went on to receive a Master’s degree in Business Administration from Cardinal Stritch in 1997. He currently serves as a board member for the Children’s Cancer Research Fund.

Mike Hudzik

Mike Hudzik

Managing Director, Head of Casualty Underwriting, US & Canada
Swiss Re
Jonathan Larsen

Jonathan Larsen

Chief Innovation Officer
Ping An Group

Jonathan Larsen is Chief Innovation Officer, Ping An Group, and Chairman and Chief Executive Officer, Ping An Global Voyager Fund. He has been at the leading edge of the financial-services industry for the past 29 years across the Asia-Pacific and globally. Mr Larsen previously spent 18 years at Citigroup, where he was most recently Global Head of the firm’s Retail Banking and Mortgage businesses. Prior to Citi, he was a Principal in the Financial Services Practice of Booz Allen & Hamilton, a global management consulting firm, where he spent eight years advising large banks and other financial institutions in Asia, Australia and New Zealand, as well as in the US and Europe. Mr Larsen is a Distinguished Fellow of the Institute of Banking and Finance, Singapore, and was named Retail Banker of the Year in 2011 by Asian Banker magazine. He has been widely quoted in major media outlets, including the Financial Times, Bloomberg, Reuters, The New York Times, The Wall Street Journal and The Economist, as well as in local media throughout the Asia-Pacific. Mr Larsen holds a Bachelor of Arts (Hons) degree from the University of Melbourne.

Marilyn Lion

Marilyn Lion

Partner
Debevoise & Plimpton

Marilyn Lion, a Partner based in the New York office of Debevoise & Plimpton LLP, is a member of the firm’s Corporate Department and the Financial Institutions Group. She focuses on corporate transactions in the insurance industry, including mergers and acquisitions and financing transactions, as well as insurance and reinsurance regulatory matters. Ms Lion is also a member of the Board of Governors of the Association of Life Insurance Counsel. Ms Lion is recognized as an Up and Coming lawyer for Insurance: Transactional & Regulatory in New York in Chambers USA (2018), in which clients call her “one of the smartest lawyers I have ever had the pleasure of working with.” She is also recognized as a Next Generation Lawyer for insurance in The Legal 500 US (2018), which notes that she has “very deep insurance industry expertise.” She was named a “2016 Rising Star” in insurance by Law360 and by Super Lawyers. Ms Lion received a JD from Harvard Law School in 2005 and a BA summa cum laude from the University of Pennsylvania in 2001. Prior to law school, Ms Lion worked as an actuarial associate at AXA Equitable Life Insurance Company. Ms Lion is a member of the Bars of New York and New Jersey.

Robert Lonergan

Robert Lonergan

EVP, Chief Strategy Officer
Assurant

Robert Lonergan is Executive Vice President, Chief Strategy Officer of Assurant, Inc and a member of the company’s Management Committee. In this role, he is responsible for shaping the company’s enterprise strategy with a focus on driving long-term profitable growth. During his tenure at Assurant, Mr Lonergan has helped lead 17 mergers and acquisitions transactions and growth investments that have helped the company refocus its business strategy on the global housing and lifestyle markets. Prior to his appointment as Chief Strategy Officer, he served as Senior Vice President, Growth and Innovation and led a team responsible for driving growth initiatives across the enterprise with a buy, build, invest and partner strategy. In that role, he also established a growth investing team to identify opportunities for investing in high-growth potential, early stage companies to generate both strategic and financial returns for Assurant. Prior to that role, he served as Vice President, Sourcing at the company, establishing an M&A sourcing function to ensure the strategic alignment of transactions with the company’s business strategy and to adopt a proactive mindset in regards to M&A deals. Before joining Assurant in 2012, Mr Lonergan worked at Bain & Company, Inc. There he helped start and grow the company’s private equity practice in Atlanta, leading due diligence activities on more than 25 potential acquisitions. He began his career working at Credit Suisse First Boston working as a mergers and acquisition analyst.
Mr. Lonergan holds a Master of Business Administration from the Wharton School of the University of Pennsylvania and a Bachelor of Arts in economics from Davidson College. 

Bill Pieroni

Bill Pieroni

President and CEO
ACORD

Bill Pieroni is President and CEO of ACORD, the standards-setting body for the global insurance industry. His career has spanned technology, operations, and senior executive roles at several top insurers, brokers, and consulting firms. His specialty is presenting the results of ACORD research on a wide variety of topics of critical interest to the insurance industry, including technology, change, and successful strategies. Prior to joining ACORD, he served as the Global Chief Operating Officer of Marsh and was responsible for the firm’s global operations. He has also served as Senior Vice President and part of the Office of the Chairman at State Farm, and as Aon’s Senior Vice President and Global Chief Information Officer, with global responsibility for operations across retail, wholesale, and reinsurance brokerage. His extensive insurance and financial services background also includes time as General Manager of IBM’s insurance business, a partner at Accenture, and consultant with McKinsey & Company. Mr Pieroni earned his BS degree in Accounting with University Honors and Distinction from the University of Illinois. He also received his MBA with Highest Distinction from Harvard University School of Business Administration, where he was named a Baker Scholar. Mr Pieroni has been published in Insurance Business America, Best’s Review, Insurance Day, and many other industry publications.

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Chairs and Moderators (2)

Robert Armstrong

Robert Armstrong

US Finance Editor
Financial Times

Robert Armstrong is US Finance Editor at the Financial Times, having previously been Chief Editorial Writer, and before that, Head of the FT’s Lex colum. Prior to this, he was a columnist at Dow Jones and an analyst at Seminole Capital, a long/short hedge equity fund. He has a PhD in Philosophy from Columbia University.

Oliver  Ralph

Oliver Ralph

Insurance Correspondent
Financial Times

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.

Agenda - 11th Apr

  • 8:00am
    Breakfast and Registration
  • 8:50am
    Opening Remarks

    Oliver Ralph, Insurance Correspondent, Financial Times

  • 9:00am
    Separating the Signal from the Noise

    This opening dialogue explores the broad trends impacting the industry and debates hype vs. reality. From demographic and societal shifts to new business models and the abundance of data, what’s changing that actually matters? 

  • 9:20am
    A Better Way of Doing Business in the Digital Age

    Insurers know building a strong and nimble digital organization can be a key differentiator in today’s competitive market, and they are moving quickly to bring their core businesses into the digital realm. Taking a “business-as-usual” approach to digital strategy, however, risks missing the bigger picture and underscores the need for firms to take a fresh look at how ways of doing business may change dramatically in the new digital age. This panel of experts shares lessons learned along the way as firms work to redefine their digital goals and push forward with the next stage of transformation.

    Souheil Badran, EVP, Chief Innovation Officer, Northwestern Mutual

  • 10:00am
    Profound Cultural Change and a New Skills Agenda

    When it comes to picking winners, the key drivers for success used to be tech channels and digitalization. Today the answer is culture and people. Especially for the large incumbents, cultural change is the basis of competition now. Many firms have invested heavily in innovation labs and insurtech startups, but are finding it challenging to incorporate acquired technologies and capabilities back into the broader organization. At the same time, the onslaught of technological disruption in the industry is significantly changing the mix of skills both current and future employees will need to attain. What steps are insurers taking to combat inertia, bring about profound cultural change, and address workforce readiness challenges?

    Suzie Elliott, Chief Human Resources Officer, Farmers Insurance

  • 10:40am
    Networking Break
  • 11:10am
    Shifting the Business Model to Prevention

    As the proliferation of telemetrics, Internet of Things, and other data-driven technologies continues, insurers are beginning to work hand-in-hand with customers to reduce risk, oftentimes utilizing technology that can enable them to take premiums down by an order of magnitude. What is the strategy underpinning the business of preventing risk, and how will business models continue to evolve in the future? 

    Mike Hudzik, Managing Director, Head Casualty Underwriting, US & Canada, Swiss Re

  • 11:50am
    Financial Wellness: What Will Motivate People to Take Action?

    Compared to previous generations, today’s workers are expected to be more engaged in planning for their own long-term financial health. At the same time, innovation and structural shifts are transforming and disrupting workforces in ways that can leave many vulnerable to financial setbacks. In response, insurers are now focused on providing resources, tools and financial products to enable and promote financial wellness within the workplace. Where are there still opportunities to better engage workers, and what insights can be gleaned from this more holistic approach? 

    Stephen Pelletier, EVP and COO, US Businesses, Prudential

  • 12:15pm
    Lunch
  • 1:15pm
    Breakout Sessions (Topics To Be Finalized)
    • Assessing Blockchain’s Future in Insurance
      This will be an important year for distributed ledger technology as consortia and others work to further cement blockchain as a key building block for future innovation. What can we learn from early trials and prototypes, and where are re/insurers making the most progress in effectively implementing blockchain along the insurance value chain?
    • Silent Cyber: What Needs To Change?
      Many warn that insurers have not adequately kept up with the pace of change, particularly in updating policies that do not explicitly include or exclude coverage related to damage or losses stemming from new and emerging cyber threats. What are some ways insurers can better identify and address their silent cyber exposures?  
  • 2:00pm
    View from the Front Lines

    This panel considers the insurtech landscape and debates the profitability and scalability of solutions coming down the pike. Which new upstarts are making meaningful inroads, and which are likely to fall prey to inertia or simply be acquired by incumbent firms down the line? What does the end game look like? Does all this activity eventually lead to industry consolidation, or will we see a truly disruptive business model or user experience emerge that will fundamentally change the industry? What can incumbents learn from those on the front lines?  

    Joel Albarella, SVP and Head of New York Life Ventures, New York Life
    Lex Baugh, CEO, North America General Insurance, AIG
    Jonathan Larsen, Chief Innovation Officer, Ping An Group, and Chairman and CEO, Ping An Global Voyager Fund

  • 2:40pm
    Riding the Wave of Artificial Intelligence

    Insurers continue to invest heavily in artificial intelligence and machine learning, from the deployment of chat bots to the use of AI in processing and paying out claims instantaneously. What’s next? Where are there opportunities for continued innovation, and what are insurers learning from these early successes? 

    Bob Lonergan, EVP, Chief Strategy Officer, Assurant

  • 3:15pm
    The Holy Grail of Big Data

    Many insurers are trying to reposition themselves as customer-focused data companies, pursuing innovations in analytics modeling, aggressively tapping new data sources and testing novel underwriting models for emerging risks. Access to and ownership of data have become thorny issues as auto manufacturers, banks, eCommerce, and technology firms all jockey for control amidst growing regulatory and societal concerns. It remains to be seen whether consumers will opt in en masse to sharing their personal data, or whether social media and other forms of alternative data will prove to be effective inputs over time. How are insurers navigating this uncertain climate? What are the challenges to becoming a data-driven organization? 

    Marilyn Lion, Partner, Debevoise & Plimpton
    Bill Pieroni, President and CEO, ACORD

  • 3:50pm
    Keynote Address
  • 4:15pm
    Closing Remarks

    Robert Armstrong, US Finance Editor, Financial Times

  • 4:20pm
    Reception

Fees

Ticket Type

Fee

Super Early Bird (until 8th Feb, 2019)

$795

Early Bird (9th Feb - 8th March, 2019)

$895

Standard Summit Ticket (After 9th March, 2019

$995

Discounts are available for Group Bookings and FT Subscribers -  click here to register

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SPONSORSHIP OPPORTUNITIES

For more information concerning sponsorship opportunities, please contact Simon Carkeek at:

email: simon.carkeek@ft.com

telephone: +1 917-551-5049

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Why Attend?

  • 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.
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Who Attends?

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
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Associate Sponsor (1)

Debevoise & Plimpton’s Global Insurance Practice has long been distinguished by insurance regulatory capabilities of the highest quality. The firm advises clients on the regulatory aspects of their most important transactions and counsels boards of directors and senior management on the regulatory developments that most significantly affect their businesses.  Debevoise was named “2017 Insurance Practice Group of the Year” by Law360 and won the Chambers USA 2016 “Award for Excellence” in Insurance. In addition, Debevoise received “2017 FinTech Law Firm of the Year” by Wealth & Finance International.

The practice’s regulatory capabilities, in conjunction with our expertise in cybersecurity and data privacy, stand our clients in good stead as they lead the charge for innovation within the insurance industry.  Debevoise specializes in the relevant regulatory constraints associated with the development and adoption of emerging technologies, and we are expert at negotiating the associated risks. Our insurance attorneys work closely with the firm’s world-class privacy specialists, providing a collaborative approach to the business-critical privacy, data protection and data security issues that are vital to the continued growth and success of the insurance industry. For more information, visit www.debevoise.com.

Nearby Accomodation

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Venue

Convene Conference Center
730 Third Avenue
NY 10017
New York

United States of America

Tel: (646) 854-7950

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Contacts

Chandni Saberwal
Media Partner & Press Inquiries
Financial Times
Simon Carkeek
Sponsorship Opportunities
Financial Times
Christina Ho
Speaking Opportunities
Financial Times