The Growth Tech Evenings are an opportunity for leading figures to discuss and debate, in a confidential manner, their views, expectations, issues or concerns for IT companies in the near- term.
The eighth in this series will be focused on Insurance Technology (InsurTech).
“In the same way that the banking industry was disrupted by Fintech, and the legal sector by Legaltech, the world of insurance is being shaken up by InsurTech” (Forbes July 2019).
The discussions will largely be driven from an IT perspective, led by four business leaders at the vanguard of the InsurTech revolution.
In 2015 the World Economic Forum predicted that the greatest impact of disruption would occur not in banking, but in insurance. “From blockchain to drones, data analysis to crowdfunded insurance, Internet of Things to genome technology to wearables…where there’s an exciting new technology, there’s a way it can revolutionize insurance — with huge potential benefits for the industry, startups, and society” (Startupbootcamp accelerator, London).
Insurers are facing increasing pressure to evolve and reinvent themselves before disruption, caused by emerging technology and insurance startups, hits the bottom line. They need to move quickly though because in the UK there are already hundreds of InsurTech startups with the market now at $3billion (PwC) and a global growth rate over 10% forecast.
The evening will provide an opportunity to hear the experiences of those involved, identify the key drivers which they believe will affect the growth of InsurTech and to discuss the opportunities and issues this presents for the UK and Global Insurance industry.
The guest speakers will start the evening by providing context to the topic and giving their views on the opportunities and challenges.
There will then follow an interactive debate which we expect to last around an hour. Wine and soft drinks will be provided.