This conference will bring out latest thinking on the development of insurance technology in the UK.
Discussion will focus on the impact on the insurance market, the progress and prospects for its adoption, the implications for regulation, and the way forward for realising benefits for the industry, consumers and the wider economy.
The agenda includes a keynote contribution from Stefan Claus, Technical Head of Division - General Insurance, Bank of England.
Delegates will assess emerging insurtech trends and how they are set to affect the insurance sector, with analysis of emerging disruptive technologies such as AI, big data and blockchain and the opportunities and challenges they present.
The agenda also discusses what support is needed - from government, sectors such as Higher Education and marketing, and the insurance industry itself - to put in place the enablers for development and adoption, including closing the skills gap in the sector around coding and computing.
Further sessions will consider what needs to be done to succeed in establishing the UK as the home of insurtech.
Delegates will discuss the effect of the expected ending of passporting rights and what needs to be done to build on existing advantages and continuing to establish new ‘fintech bridges’ with other financial centres to continue to attract international talent, increase domestic and inward investment and start-ups to the UK.
The conference will be an opportunity for stakeholders and policymakers to discuss next steps following the Fintech Sector Strategy, and priorities for the joint government-industry Insurtech Board and Fintech Delivery Panel which aims to identify and reduce barriers to the growth of insurtech.
The agenda includes a keynote session with Will Thorne, Innovation Leader, Channel Syndicate and Chair, Insurtech Board and Paolo Cuomo, Co-Founder, InsTech London; Principal, Boston Consulting Group and Member, Insurtech Board.
Attendees will consider how regulators can best respond to the increasing use of insurtech, and ensure that firms and consumers are protected while also providing the appropriate framework to support innovators.
We expect discussion on trust, and how to address concerns around the use of personal data to price insurance products, ensuring the quality of service of new innovative platforms, and implications for financial and digitally excluded consumers.
The seminar also comes ahead of the interim report of the FCA’s general insurance pricing practices market study, which will examine the role that insurtech can play in improving consumer outcomes and assess how the regulatory framework can continue to adapt to protect consumers whilst also providing adequate flexibility to allow firms to grow and innovate.