PriyaPatel
TLDR:
- The Digital Insurance Summit Europe focused on understanding the customer and providing the best experience.
- The importance of customer-centricity and balancing cost efficiency was highlighted.
- Legacy tech and cost pressures were identified as barriers to innovation in the insurance industry.
- Insurance companies were encouraged to collaborate with insurtech startups to drive efficiency gains and agility.
The Digital Insurance Summit Europe, held in Fulham, addressed key challenges in the insurance industry and emphasized the importance of understanding the customer. The event featured panel discussions and presentations that explored topics such as customer-centricity, innovation, and collaboration with insurtech startups.
In his opening keynote, David Clamp, founder of the Camelot Network, highlighted the need for a customer-centric approach in insurance and the challenges of balancing cost efficiency with providing a positive customer experience. Steven Zuanella, group chief digital and innovation officer at Generali Group, also emphasized the importance of customer-centricity and discussed the role of automation in improving customer experience and cost efficiency.
The event highlighted the barriers to innovation in the insurance industry, including legacy technology and cost pressures. Richard Boyd, head of product at Lloyds, noted that legacy tech can prevent companies from making significant changes and hinder innovation. He also highlighted the importance of finding innovative solutions that fit within existing operations.
The need for collaboration between insurance companies and insurtech startups was also discussed. Bessem Ayari, head of innovation strategy and scouting at ERGO Group, emphasized the need to balance the agility of insurtech startups with the reliability and trustworthiness of established insurance companies. Rosie Denée, head of Lloyd’s Lab Accelerator, highlighted the importance of having the right attitude when partnering with insurtech startups and looking to the future.
Overall, the Digital Insurance Summit Europe highlighted the importance of understanding the customer, overcoming barriers to innovation, and collaborating with insurtech startups to drive efficiency gains and agility in the insurance industry.
