Established carriers and new entrants alike are under intense pressure to both introduce new products and services, as well as get core (increasingly commoditized) products distributed more efficiently. Those who will find success in the next decade will need to reimagine the value proposition of insurance: Is it a service? Is it an embedded product? Is it proactive? Is it preventative? The Fourth Annual FT Insurance Innovation Summit will bring together leading executives and industry experts to discuss the best strategies to adapt and innovate in a rapidly changing ecosystem.
FT Insurance Innovation Summit 2020
Delivering a Reimagined Value Proposition
Chairs 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.
Robert Armstrong is US Finance Editor at the Financial Times, having previously been the FT’s Chief Editorial Writer and prior to that, Head of the FT’s Lex column, which has been dispensing pithy, pungent and analytically informed financial commentary for nearly 80 years. Before joining the FT, Robert was a columnist at Dow Jones and an analyst at Seminole Capital, a long/short hedge equity fund. He is a Chartered Financial Analyst and has a PhD in Philosophy from Columbia University.
Agenda - 23rd Apr
8:00amBreakfast and Registration
Oliver Ralph, Insurance Correspondent, Financial Times
8:35amKeynote: Will the Winner Take All in Digital?
This opening keynote considers examples from other increasingly digital industries, where a dominant winner emerges to grab the lion’s share of the market, as well as the impact recent deal-making has on the competitive landscape.
9:00amPanel Discussion: Competing on Service – What’s the ROI on Non-Core Add-Ons?
Insurers are shifting away from a product focus to service-oriented business models that emphasize education and the customer experience. This requires an investment in technology, as well as a renewed focus on the elements needed to build on-going, trust-based relationships with new and existing customers. As core insurance products become more commoditized, what are the key capabilities that will differentiate one offering from another and provide the most value-add? Further, what is the impact to customer acquisition and retention costs as engagement increases along with customer expectations? This panel discusses the necessary tradeoffs all firms must grapple with in the never-ending quest to delight customers.
9:40amPanel Discussion: Embracing Ecosystems – What’s Working and Where Are We Headed?
Insurers are beginning to embed products in the various digital ecosystems that have developed around financial services, online marketplaces, social media, the Internet of Things, and mobility services, among others. What does this trend mean for the future of distribution, and will there be unintended consequences? What are the implications of being an ecosystem participant, versus an ecosystem owner? Does the benefit of tapping into new markets outweigh the risk of ceding control to the platform? What about the impact on the brand? This panel shares lessons learned from those already operating in a digital ecosystem – both challenges encountered and what they hope to achieve.
10:45amDialogue: The Future of Insurance is Proactive and Preventative
11:15amPanel Discussion: Removing Roadblocks and Fast-Tracking Innovation
This panel discusses techniques, processes and procedures that have helped to hasten the path to market for new technologies, with an eye to how changes in the regulatory landscape could impact current and future initiatives.
1:35pmKeynote: Tackling Trust Issues – Here’s What Consumers Really Think About Data and Privacy
2:00pmPanel Discussion: AI, Automation and the Use of Non-Traditional Data in Underwriting
As the Internet of Things, connected cars, and digital and social platforms all collect more granular data about consumers, how are both insurers and regulators deciding what data may be appropriate for use in underwriting? Research shows consumers are happier to provide access to personal data when there is a clear benefit (i.e. lower premiums), but what will the approach be for those who may be more likely to be penalized? Further, the introduction of automation and artificial intelligence in the underwriting process adds an additional layer of complexity. This panel of experts debates the current limits on data harnessing and explores where the industry is headed.
2:40pmSpotlight: The Future of Mobility
3:10pmSpotlight: Dispelling Myths on the Future of Work
3:40pmCEO Fireside Chat
Robert Armstrong, US Finance Editor, Financial Times
- 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
Associate Sponsor (1)
Cognizant 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 many of the best-known organizations in every industry and geography envision, build and run more innovative and efficient businesses.
Accelerating the shift to digital with Cognizant's offerings makes the path clear and the process systematic. We integrate digital solutions that allow enterprises to run differently. We enable operational excellence with a cohesive digital strategy. We help clients implement digital transformation by unifying business and technology architectures to enable competitive advantage and top-line growth.
Cognizant is ranked #195 on the Fortune 500 and is consistently listed among the most admired companies in the world.
PRESENTED BY (1)
The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy. The FT has a record paying readership of one million, three-quarters of which are digital subscriptions. It is part of Nikkei Inc., which provides a broad range of information, news and services for the global business community.