What do leading Executives at game-changing insurance companies think about the ongoing transformation in the industry? What are their top-of-mind thoughts and worries around the Insurance Liquid Ecosystems? How are they approaching innovation in their markets?
On May 19th we held the presentation of Insurtech Global Outlook 2022 and had the opportunity to hear form major insurance leaders their opinions and insights on the Four Forces of Acceleration. Their honest and revealing conversation shed light on the trends and changes that insurers are putting their eyes on, giving in highly valuable details of how experts live the transformation of Insurance.
Here the key points about the discussion:
When in doubt about whether to invest directly or to what extent in Insurtechs, insurance companies must be aware of the hype surrounding these startups while acknowledging the value they add to their proposals on a support role.
Tech Giants and new entrants need to be considered “frenemies”. Insurers still present a cautious position, considering the option of these new players to dig in their own models and leave insurance companies as mere specialists. However, collaboration with them is still a must to drive top customer experiences.
There is no longer such thing as internal versus external innovation. Nowadays innovation is mixed: internal teams are needed as interfaces and catalysts for all the solutions emerged from the outside. Insurtechs need insurers to grow and scale, and insurers need Insurtechs to get to where the consumer is and to take advantage of the best talent that new startups and unicorns are attracting.
All these perspectives and much more in the conference. Watch the debate below and don’t forget to share it with your networks. Remember, knowledge and expertise are as important as collaboration and debate; it is what makes our report holistic and helpful. Leave the door open for further conversations around the Four Forces of Acceleration.
Who participated in the event?
Carlos Ordóñez - Head of Strategy & Advisory at NTT DATA Europe & Latam
Richard Calvo - Head of Insurtech at NTT DATA Europe & Latam
Joan Cuscó - Global Head of Transformation at MAPFRE
Stefano Bison - Group Head of Business Development & Innovation at Generali
Irene Van Den Brink - Chief Communications Officer at Digital Insurance Group
Re-watch the event here: