What Is The Future of Insurance? | IPT
Chair: Craig Tracey MP, Chair, Insurance and Financial Services APPG
Speaker: Cécile Fresneau, Managing Director, Insurance Division, QBE Business Insurance
Speaker: James Dalton, Director of General Insurance, Association of British Insurers
Virtual Event

Date:

Tuesday 25 January 2022

Venue:

This is an online event

Start Time:

08:30

End Time:

09:30

The disruption caused by COVID-19 has accelerated digitalisation of insurance processes as organisations have adjusted to accommodating a remote workforce, expanding digital capabilities, and upgrading online channels. Artificial Intelligence (AI) is expected to radically change the insurance industry, transforming it from a task-based to capabilities-based orientation. It is anticipated that in the future internet of things enabled technology and AI will allow for customers to arrange certain types of insurance within minutes, with AI notifying insurers, arranging suppliers, and paying claims when required. There are also challenges for commercial insurance, with the potential for events that ‘stop the world’, are the right partnerships and systems in place to deal with a range of complex, emerging risks? The increasing frequency of extreme weather events globally due to climate change is also having an impact on the industry as the number of costly claims escalate. With the industry changing rapidly, what will be the impact for customers and businesses?

This event will:

  • Asses how government and insurance are positioned to support particular types of risk, including the impact of climate change and other future challenges
  • Discuss the effect of COVID-19 on changing consumer needs and the contribution of commercial insurance to the economy
  • Consider the opportunities for increased InsurTech and automation of processes