ITC Global

To win in the “new normal” emerging from COVID-19, Insurers need to accelerate their transformation to become customer-centric and agile organizations. Futurist and Jim Carroll will speak on trends disrupting the Insurance Industry and the need for rapid innovation to meet evolving customer needs. Salesforce Financial Services GM, Rohit Manha, will introduce the new Salesforce + Vlocity solution, which is only end-to-end digital platform purpose-built for Insurance that delivers digital transformation at each step of the full lifecycle spanning front, middle, and back office. Hear from Pacific Life Insurance and Altas Insurance as they discuss changes with their business and showcase how Salesforce + Vlocity has helped them quickly adapt. 

As we all know traditional insurance is complex, lengthy and paper driven while digital insurance looks to be simple, personalized, quick and keeps people connected. Bajaj Allianz General Insurance is on a journey to be a digital first insurer for their 140 million customers. Started 19 years ago in India they regard insurance as more than just a subject matter of solicitation. They see it as a commitment to building engaged relationships through solutions that help our customers live confidently. Learn more about how they have collaborated with insurtechs and the joint venture of Bajaj Finserv and Allianz SE that resulted in Bajaj Allianz General Insurance.  

Given the pace and magnitude of technological and societal changes, innovation is becoming increasingly critical for the insurance industry and the insurance industry agrees! Who's got the most innovative lines of Business? Is innovation only key for large companies? And is innovation global? Get the answers to these questions only from one of the most respected names in insurance ... A.M. Best.

Join us for a conversation with top innovators from insurance industries as well as from tech-giants. From data analytics, embedded insurance, partnerships and ecosystems, what will the future hold? How will the industry transform as big tech enters the market?

Join regional industry experts from Equisoft, Oracle, and Insurance Inbox as they examine critical carrier strategies for accelerating digital transformation in APAC. Get exclusive insights into how to implement integrated digital tools that create superior agent and customer experiences, as well as best practices for modernizing core legacy systems. 

Join us for a fast moving 30-minute session exploring the vital importance of people in the digital transformation of insurance and learn about the TDI Academy and its plans to help organisations create a digital culture and provide L&D opportunities for the 'vital many.'

OneDegree is a fast growing insurtech company with a presence across Asia and the first virtual insurer in Hong Kong. In this session, we will share the OneDegree story, how the company is making an impact on Asia's insurance sector, the hiccups, regulatory processes and all we have learnt!

Looking at the backdrop of investment in Southeast Asia Insurtech has taken less than 10% of all capital. Why, we wondered? Hear an early stage (Seed to Series B) investor’s perspective on why this region in particular is under-invested and under-resourced and how both these factors are creating opportunities.

From catastrophic natural events, preparing for the future to living a healthier lifestyle, Insurtech and fintech startups are paving the way to a better and brighter future for humanity. Learn about the latest startups working on transforming the world we live in, making it a better place for us to co exist and thrive.

What are the recent trends of Healthtech in insurance and why insurers are increasingly searching and adopting for HealthTech solutions? How HealthTech will design a brighter future for Insurance? What investors are looking for from a healthtech startup? What does the healthtech and insurtech startup ecosystem look like in Hong Kong and Singapore? In this session, we invited 2 renowned healthtech and insurtech investors in Asia to share with you the latest trends and insights in healthtech and insurtech.

You already recognize that the Cloud is driving more intelligence and enablement across insurance processes. And in a post Covid-19 world, the pace of this digital transformation is only accelerating. Join Microsoft to see a showcase of leading insurers from around the world and learn how these innovators are employing Cloud resources, leveraging advances in AI and trusting powerful predictive analytics to delight customers while vastly improving operations. The pace of change is faster than ever. See how the technology leader in infrastructure and expertise can drive digital transformation at the speed of innovation.

Never before has there been a greater need to digitally transform the insurance distribution world. The role of intermediary in other industries is completely changing.  The events of 2020 have propelled brokers and incumbents into the future where technology across the eco-system is critical to business operations. While incumbents have strategic advantages, for example scale and technical product expertise, digital solutions are best developed by digital natives. With the latest IPO of lemonade where investors value the full stack insurer model it is a great opportunity to discuss future the role of digital brokers and enabling insurance agency model in a digital world.

Greg Murphy, EVP for INSTANDA North America, is no stranger to digital transformation. In fact, he began his journey with INSTANDA as a client and experienced the power of INSTANDA's technology - leading him to leave a high-profile strategy role to join the company. He saw that through INSTANDA’s no-code technology, there is no need to embark on multimillion dollar legacy system swap outs to transform the insurance customer experience. You can go from product idea to implementation in weeks, not months or years. Join Greg as he changes the industry by transforming the approach to core systems.  

There’s a famous quote you’ll see emblazoned on shirts worn by marathon runners: “You don’t have to run fast; you just have to go.” As he helps lead AXA’s transformation to the cloud, Ash Shah, global programs director for AXA Group Operations, would like to do both. For applications that can benefit from “lift and shift,” he’s helping the company move fast to demonstrate the economic benefits of moving to the cloud. But for where cloud matters most in AXA’s journey to become an innovative, customer-centric, technology-led insurer, Ash is quick to point out that AXA is running a marathon. That more meaningful transformation requires more than technology – it requires upskilling your organization, introducing agile methodologies and new target operating models, and focusing constantly on change management, stakeholder engagement, and team motivation to keep the journey going. In a fireside chat moderated by Tony Jacob, global business development lead for insurance at Amazon Web Services, Ash will share his tips for successful cloud transformations, drawing from his experience that targets more than 30,000 servers and 7,000 applications across 62 countries. Ash believes AXA’s experience is already pointing to the cloud becoming part of the core fabric of IT service delivery and how developers will operate in the foreseeable future.

Learn how Handdii, an Australian insurtech has partnered with both a global incumbent (Allianz) and a rising star MGA (Hippo). Hear what has made their relationships successful and how all three are thinking beyond "pain-killer partnerships" to realize real, long term value.

Join us to discuss the importance and differences of data analytics in developed and emerging markets; what specific results have been achieved by leveraging data analytics; and how COVID-19 has impacted the need for it!

See innovation in action as we showcase how DXC and our ecosystem developers have joined together to provide next-generation integrated solutions built on the DXC Assure Digital Platform that enable speed to market, better customer engagement, innovation and efficiencies. This session will: demonstrate business solutions that are already helping our customers accelerate the pace of change, highlight our DXC Invitational insurtech challenge winners and show how Ohio Mutual Insurance Group has approached their digital journey to improve claims department efficiencies.

For decades for the Health Insurance industry, it's largely been business as normal. In 2020 however, COVID, the entry of technology-led companies, and rapidly changing consumer expectations, are converging and forcing rapid change. Will the Insurers seize this pivotal moment to transform their businesses with digitally lead health tech eco-systems?  Join us for this session, as we discuss the forces at play, the challenges facing the insurance carriers as they seek to digitize the entire customer journey, and the opportunities for a digitally enabled, data-driven health insurance business. Hear from three very different perspectives, including Ping An, whose technology is enabling new insurance business models and experiences, AIA who are driving a transformation agenda across multiple markets, and DocDoc, an AI-driven doctor discovery and telehealth company, whose partnerships with leading insurers gives a unique external perspective.

To win in the “new normal” emerging from COVID-19, Insurers need to accelerate their transformation to become customer-centric and agile organizations. Futurist and Jim Carroll will speak on trends disrupting the Insurance Industry and the need for rapid innovation to meet evolving customer needs. Salesforce Financial Services GM, Rohit Manha, will introduce the new Salesforce + Vlocity solution, which is only end-to-end digital platform purpose-built for Insurance that delivers digital transformation at each step of the full lifecycle spanning front, middle, and back office. Hear from Pacific Life Insurance and Altas Insurance as they discuss changes with their business and showcase how Salesforce + Vlocity has helped them quickly adapt. 

The traditional insurance industry has historically struggled to reach low and mid income segments in emerging markets. A main challenge has been premium collection from the unbanked, when cash is the only viable payment method then products become expensive and unattractive. The landscape is now dramatically changing thanks to rapid growth of mobile money wallets across emerging markets. The new wallets combined with the also rapidly growing smartphone penetration enables innovative new business models including more effective premium collection as well as new ways of doing marketing and customer engagement through digital channels. However, in order to fully capture this digital opportunity an element of human touch will be required.

Digital innovation is disrupting the traditional way that cognitive assessment is delivered and measured. With remote, scalable access and robust data capture and analytics, technology can now detect cognitive decline well before it shows up in everyday life. This session will cover how eye-tracking technology, through a mobile device camera and an app, can measure the state of one’s cognitive health and its potential for future decline. This session will also discuss how early detection is key to a personalized and targeted brain health intervention, making  Alzheimer’s prevention possible.

In this  session, Mitch Doust, COO of the Americas at Cover Genius and Mauricio Comi, Head of Small Business Insurance at Intuit, will discuss how tech giants and insurtechs can leverage their data to overcome the traditional challenges of insurance distribution. Mitch and Mauricio will also address changes in B2B2C/B distribution and how parametric insurance can build resilient American businesses.

In the first half of 2020, over 30 Million wearables were shipped that help consumers track, monitor and improve their personal health. New deployments and studies during the COVID-19 pandemic will boost the healthcare wearables market (which includes connected blood pressure monitors, continuous glucose monitors, pulse oximeters, and electrocardiogram monitors). This session will provide though-provoking data insights on how COVID-19 is accelerating the use cases of biometric data from wearables within the insurance industry in Asia.

M&A is the last thing on the mind of many early-stage founders.  But most large companies are the product of extensive M&A, often starting with small deals early in their life and getting bigger over time.  Several well-known InsurTechs have already made acquisitions to build their customer base, technical infrastructure, and claims capabilities.  This session will explore why every Board and CEO should discuss M&A – both as acquirers or as sellers.

As a leading full-stack InsurTech company in Japan, justInCase envisions insurance to be interactive amid digital transformation and IoT advancement. Insurance premiums of Interactive insurance are pursued to be no longer static but turning to be more personalized and reasonably priced. In this presentation, justInCase's two flagship products, P2P Cancer Insurance and "Walk Your Way to Health" HealthTech Insurance, are introduced. Both products were firstly released in Japan.

Many insurance companies are looking to reduce expenses and optimize efficiency while improving customer experience. Successful carriers have begun to revolutionize the way they gather, understand and use customer data. But staying ahead of the competition is hardly the only reason to undertake a digital reinvention. The best reason for transformation is your customers. With limited touch points, the importance of gathering valuable experience data in a non-obtrusive manner and combining it with operational data is amplified. A modern digital environment with multiple access points offers convenience, efficiency, and ultimately, more satisfied customers.

The first wave of InsurTech focused on serving the consumer and providing fast and convenient services by leveraging digital tools. Forward-thinking and adaptive insurtech brands have recognized the potential to leverage rich customer behavior data, opening new possibilities to more effectively manage risk – a step change that is altering relationships between insurers and the online insurance advisors & innovators. This fireside chat focuses on the ways and means for the online insurance space to leverage data to support insurers in their underwriting strategies and improve profitability for the insurer.

Retail insurance product penetration in developing countries has been a perpetual challenge ensconced in issues like low disposable income, suboptimal literacy led low product & concept awareness. My talk describes the opportunity landscape for insurance in developing countries in general and Pakistan in specific. We at TPL insurance are transforming the insurance sector in Pakistan given the huge business opportunity using insuretech solutions for wide reaching access and ease of transaction execution, on the principle that insurance solutions are complimentary to end user lifestyles and not “boring” risk mitigation products. Retail sales of financial services via digital is the only way forward !

Innovation is a new idea or process but at the heart of its success is buy-in. If the team can’t get behind it innovation won’t take off. Explore what causes innovation functions to fail in large insurers and what innovation capabilities yield best results in an innovation mix. And especially for 2020, we can’t avoid any impact COVID-19 might have on legacy systems.

Some of the most profitable product opportunities exist in challenging markets. But roadblocks such as lack of data, market feasibility and regulatory red tape can hinder insurers, start-ups, and MGAs from launching successfully.  This conversation showcases three case studies – in flood insurance, commercial fleet management, and advanced admitted products – that demonstrate how technology solutions and creative approaches can deliver new products to market quickly, and at scale.  

With the current protection gap in the ASEAN market, insurtechs have a huge opportunity for growth, changing the saturated traditional industry. Insurtechs can build on the three pillars - providing affordable products, transparency, and compassion for the community - to gain consumers’ trust using a digital platform, and still leverage on agents to provide a hybrid distribution.

In order to remain competitive, financial services and insurance companies need to continuously innovate around customer experience and back office efficiencies. However, due to a variety of constraints, IT organizations struggle to keep pace with the demands of their business lines. Recognizing the severity of the problem, the team at Unqork came together to deliver a platform that would allow these businesses to build enterprise-grade applications quickly and easily without the burden of writing code.

Not everyone is willing to take on a digital-first approach, then again Ping An is not your average insurance company. When your primary business is insurance being able to build a successful ecosystem is no easy task. Insurance companies struggle to get frequent consumer interactions, which are so vital for an ecosystem model to thrive. Ping An has come up with a novel approach to solve this — by not talking about insurance to their consumers. Learn more about their approach from Group Co-CEO, Jessica Tan.

Join us for a conversation with Insurtech’s top VCs on the latest investment trends in the industry. From data analytics, embedded insurance to new distribution models, what will the future hold? What role does the incumbents play? How will the industry transform as big tech enters the market.

Learn how a full European digital insurer, a digitally native insurtech and one of the hottest scale-up bypassed the traditional channels of insurance to protect the GIG economy riders. The panelists will address their respective role in the value chain and explain how they were able to successfully launch the same operation in 7 European countries.

More than 95% of people in emerging countries still do not have insurance, a huge untapped 3.5bn person market. Reaching these people is a challenge of overcoming consumer apathy through the use of a frictionless customer journey and a B2B partnership approach that leverages on the trust and payment mechanism of telco’s, banks and ride hailing platforms. A leader with over 20 years’ experience, Richard Leftley shares his experience of reaching tens of millions of people with insurance for the first time and what is needed if we are going to reach the next 3.5 billion people.

Real customer impact is use case led rather than technology led. The 5-step approach we take (in that order) is as follows – (a) listen to customers (b) figure out their stated needs as well as their latent needs (c) review the current landscape of systems & processes (d) re-engineer / reconfigure them to meet customers’ needs (e) deploy the right technology stack. And in order to make the impact of digital transformation & innovation on customer experience by the usage of this methodology come alive, here’s a compendium of real examples.

China’s social network giant, Tencent is ranked number 7 among the most valuable big tech companies in 2020 by market capitalization. Alan shares his views on leveraging the unique distribution opportunity that Tencent’s ecosystem presents with its 1 billion active users. He gives his perspective on foreign insurers in  China, the recently launched health and wellness WeFit program, where WeSure plans to extend its insurtech footprint, and more.  He will be interviewed by Robert Collins, a consultant to InsureTech Connect Asia and CEO and founder of Crossbordr Insurance. 

China’s social network giant, Tencent is ranked number 7 among the most valuable big tech companies in 2020 by market capitalization. Alan shares his views on leveraging the unique distribution opportunity that Tencent’s ecosystem presents with its 1 billion active users. He gives his perspective on foreign insurers in  China, the recently launched health and wellness WeFit program, where WeSure plans to extend its insurtech footprint, and more.  He will be interviewed by Robert Collins, a consultant to InsureTech Connect Asia and CEO and founder of Crossbordr Insurance.  

Technologies such as wearables are enabling a new category of insurance that turns the traditional model on its head. By using real-time data on lifestyle behaviors like exercise, nudging and incentivizing healthier choices, and linking this to the price of insurance, a new industry paradigm that makes people healthier is possible. This is even more relevant in a post pandemic world, given the link between COVID-19-related deaths and underlying co-morbidities. Insights from Discovery’s new Resilience Index reveal the importance of incentivizing better health to build resilience against both non-communicable and communicable diseases and help individuals and systems weather shocks, protecting against current and future health impacts.

The insurance industry’s digitalisation journey has been driven by a desire to better serve customers through integrated channels. The global pandemic has accelerated this shift while bringing health needs to the top of the agenda. Through the development of its digital health concierge Emma, CEO Gordon Watson shares how AXA Asia is accelerating its evolution toward being a partner to customers by expanding access to value-added services.