How are you Navigating the Rapidly Changing World of Insurance?

I had the pleasure of attending the Insurtech Insights 2023 event, and it was truly a valuable experience. The event proved to be a great platform for networking and exchanging ideas that brought together insurance experts, technology providers, and startups from diverse backgrounds, all working together to drive change within an industry that has historically been resistant to transformation.  

One of the event's highlights was the keynote speaker, Dame Inga Beale, former CEO of Lloyd's, who shared her insights on the challenges of driving change within a complex and rigid industry. Her message highlighted the difficulties of those striving to innovate within such an industry. However, Inga is optimistic about the future. She passionately believes that Insurtech will be pivotal in leading change and emphasizes the need to continue improving and learning to deliver more innovative solutions using the available technologies.  

As a first-time attendee of an Insurtech conference, I enjoyed the variety of sessions, which supplied invaluable insights into the latest technological trends and the future of the industry, and the opportunity to learn about the insurance industry. It was clear that the AI-focused sessions were incredibly popular among all sessions! In fact, getting into them was sometimes even difficult as the rooms were full. This proves that AI is rapidly gaining importance in the insurance industry and will be a significant driver of change in the upcoming years.   

However, it's important to remember the implications and risks associated with AI, including potential ethical and moral biases. We live in a rapidly changing world – where it is crucial to rethink and question the facts that were once right and may now be wrong, to move forward and not be left behind. As such, we need to be vigilant in adopting innovative technologies, ensuring that they align with our values and that their implementation is ethical and responsible.  

Overall, the Insurtech Insights 2023 event proved to be a highly valuable and enlightening experience that gave me a deeper understanding of the industry and the role of technology in driving change, gaining unique perspectives on the current and future of the insurance industry. It was inspiring to see how organizations create new opportunities to embrace inclusion, embedding purpose and values and engage with customers to deliver more innovative solutions using the available technologies. I look forward to seeing how distriBind is being part of this change to redefine how insurance is delivered by applying new technology to solve the old problems.  

If you want to learn more about distriBind, contact us at contact@distribind.io and book a demo with us.