Just as we have seen changes to insurance, InsurTechs have made moves to embed technology into platforms, which will allow better results for insurance practitioners and consumers alike. At the same time, practitioners are targeting new approaches. This post focuses on the underpinning of insurance-technology event production and the resulting impact on those who participate.
What events used to look like…
The first insurance conference I attended (circa 1987) started with tremendous mediocrity and slowly developed even lower value. Every presenter relied on a pitiful set of slides, which repeated virtually every other presenter.
There were two surprises for me. First, most all of the recruited information providers – event organizers, a key-note speaker (or two), practitioners, analysts, and panelists – followed formulaic information packaged in moderate enthusiasm, and seasoned with long, unreadable slides.
Second, attendees provided criticism to others during the coffee breaks and receptions, but failed to offer suggestions. I am not sure why there is a lack of suggestions to the organizers and speakers. Perhaps it might be a reason to cut off the attendees involvement.
Mercifully, this has changed over the years
How? Two reasons, from my perspective.
First we’ve had the privilege of attending other producers’ offerings – in Canada and elsewhere – as well as helping develop Insurance-Canada’s events. Over the years we have established informal, but strong, relationships with other event suppliers.
Why would we work with competitors? Simply put, we are dead serious in continuously producing the best content and program logistics. From my perspective, our most recent, two-day event – ICTC2019: A New Insurance Order– was in the top five of the most topical, and best content and delivery we’ve done.
And I can say this without pride. Several colleagues – including Gerald Legrove, Doug Grant, Kathy Bertsch, Michelina D’souza, and Corcoran Conn-Grant – were the thinkers and doers for this event.
Structure and content cross lanes…
On both days, we had two session streams. On day one, Doug took control over the full day, focusing exclusively on broker issues. There were brokers, carriers, brokerage technologies, and supporters. Putting it in a nutshell, you could have anything you want… as long as it’s a broker issue.
On the other side of the day, we filled the morning with Claims, again coming from practitioners and suppliers.
The afternoon was even tighter: the target was understanding Automotive / Telematics. In the opening, we had a supplier from Mobileye followed by two insurers, CAA and RSA, and the analyst Eric Weisburg from Novarica.
The second half pulled in the fences to understand the opportunities, and the very significant challenges of telematics and self-driving vehicles. Catherine Kargas from Marcon – a great friend to Insurance-Canada – put forward the issues and opened a panel which had John Elliott from RSA, and Franck Bonny from PMG Technologies, a national testing facility which encompasses automotive vehicles.
There were no final conclusions, but we understand the challenges better than before, and the urgency coming from consumers and suppliers.
Innovation, Marketing and Customer Experience
On day two, running in parallel, data strategies, automated platforms, innovations, and the future of digital marketing were exposed. We were blessed with great analysts from Celent, SMA, Aite Group, KPMG, Novarica, and Deloitte.
Toward the end of the second day, we had two exposures. Inside, Doug managed a panel of experts focusing on Technology’s Impact on Insurance.
Did we hit a mark?
By the time we were almost over, we had a major snow-storm which was slowing motion rapidly. Interestingly, the attendees elected to go beyond the end of the day. While we were down to 35 attendees, we went overtime due to questions.
We haven’t done a pro-forma as yet, but we will do so this week. If you’ve attended, or heard from another, I’d appreciate any feedback from your perspective.