ITI Europe 2024 - The Gift of Time

The gift of time…

Time goes so fast. We’re already past the end of Q1 and ITI was already more than 2 weeks ago. It was a relentless march.

One of the things I like most about InsurTech Insights is that as such a big conference and a “hip” (as far Insurance can ever be hip) place to be, you’re sure to renew acquaintances you haven’t seen for a long time as well as making new ones. This year didn’t disappoint in either facet.

It was a busy and tiring week for me, with an event the day before that shall we say, ended up with a late finish, a by now traditional team night out after day 1 that ended up with a late finish, and more fun after day 2 which ended in another late finish… I was glad for the weekend that week, let me tell you. To return to the theme of time, 3 days can seem like a loooong time!

But it wasn’t all partying, the point of connections at these conferences is part business development, part fundraising, part intelligence gathering as well as the longer-term networking.. and whether it was planned meetings via the Brella app, chance encounters on the conference floor or visits to the stand, the event delivered in spades… lots to follow up on, when I find the time!

Time is the underlying background to many of the themes of discussion at the conference, or the matrix of time and cost that we call efficiency.

One of the key messages we drive at distriBind is regarding time savings and the resultant cost savings. We are really proud of the metric we delivered during the Lloyd’s Lab, so saving users up to 45 minutes per spreadsheet in avoiding the need to manually manipulate data… and we have a couple of MGAs now sending us data via API in real time, speeding up the availability of the data to their carriers... time, time, time. (It’s 3 years since we were in the Lloyd’s Lab… as I say, a relentless March).

We have also focused internally recently on reducing the time required to set up new contracts… I recently worked on a new prospect and when we received their first contract and bdx data we were loading data in less than 15 minutes of effort…

Many conversations I had at ITI (and have been having more generally) were obviously about Lloyd’s and the removal of the DDM mandate for LIC. With time ticking down to September, many Managing Agents are well along the way in their plans for alternative solutions and I’m delighted that distriBind is in the frame for so many. For those that haven’t spoken to us yet, well – there’s still time!