The Global InsurTech Summit – an overdue recap of our day.
Written at Jul 31, 2023 2:23:14 PM by Kathryn Ellis
It was an early start for the Global Insurtech Summit to check in with Stand Up Events, who we have recently partnered with to provide all our event stand needs. With everything up and running and the delegates starting to arrive, the venue really came alive.
There were around 800 people in attendance (and a huge focus on senior interactions) so it was a great place to network and gain valuable insurance insights.
The opening keynote was interesting with two very different opinions on the future of insurance. On one hand, we should plan ahead, remain humane, purposeful, honest and mindful. On the other hand, how can we possibly plan for the future when we don’t know what it holds? How could we have ever predicted the events of the past 5 years alone? Brexit, the great resignation, a pandemic to name but a few!
One thing is for sure, whilst we may not be able to predict the future, we can plan ahead to ensure that we don’t create unnecessary monsters (Oppenheimer started with good intentions). Especially monsters within our data. As an insurer, do you know exactly how many policies you have? How many claims have been made? What risks you hold and the value of those risks?
At the Global Insurtech Summit there were two main streams running throughout the day we had a prime spot at 11.10 on the main stage to discuss how we are curing the insurance industry of its spread sheet addiction with straight through processing for delegated authority. With a strong representation from distriBind, Ksenia Gorska (Senior Business Data Architect), Eleni Bouziou (Business Analyst) and of course our CEO and Founder, Dave Connors took to the stage to discuss how we are currently working with three different business models for Otonomi, Allianz and Liberty Specialty Markets. The presentation was received well and we had some great follow up conversations to discuss the opportunities for MGA’s, carriers and insurers. The biggest conversation starter was the no re-keying or pre-processing from distribution through to capacity – a truly revolutionary process for most and one that many wanted to explore.
A little later in the day distriBind’s Head of Product, Charlie Rock took to the demonstration stage and gave a 5 minute overview of distriBind in all its glory. This was an opportunity to not only bring the product to life but to give the attendees a real opportunity to visualise the data journey that Dave, Ksenia and Eleni had presented just a few hours before.
There were many more topics covered throughout the day including: Optimising underwriting capabilities, assessing opportunities, fraudulent claims and an evolving landscape. Fundamental to all of these topics is data and utilising the data to provide insight and opportunity.
Although the look of the insurance industry is very similar to that of 10 years ago, it is changing and evolving with the needs of its consumers and distriBind is leading the way with change. Proud to have two powerful women speaking confidently about distriBind’s successes and confident that distriBind will help many more insurers, carriers and MGA’s along the way.
Follow us on LinkedIn to keep up to date with all of our news, the events we are going to be at and how distriBind is curing the insurance industry of its spreadsheet addiction. You might even get a chance to relive (or watch for the first time) the powerful presentation Dave, Ksenia and Eleni gave.
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