Agenda Think Digital, Think Innovation

Collaborating with Insurtech-ers, Process Automation, Health Technology, Cyber Risk and Artificial Intelligence are some of the key focuses an insurance player should know before heading for the real game. Dive deep in our line-up to get a slice of insurTECH Asia 2020. 

agenda

0800 - 0900

Registration of insurTECH Asia 2020 - Conference

0900 - 0910

Welcome Address

0910 - 0930

Keynote - Insurtech : A Regional Outlook

0930 - 1000

Once You Go Tech, You Don’t Go Back

The digital insurance podium will continue as a major contributor of growth in the insurance sphere internationally. According to the Department of Statistics, Malaysia (DoSM), revenue of e-commerce transactions has been on the rise annually by 6% to almost RM 50 billion per annum. With Europe already showing almost 50% of insurances being bought via aggregator portals versus the traditional agency channels, could we see an increasing demand for aggregator portals in Malaysia? Hear from the professional on:

  • How technology is reshaping the way insurances are purchased.
  • The evolution of the agency model and its relevance.
  • Lowering distribution costs while maximizing benefits through new channels.
  • Improving turnover time for claims handling and processing via digital channels.

1000 - 1030

Underwriters – Statistical Wizards vs. Pricing Actuaries – The Last Man Standing

Data analytics seems to be the element that is pivotal in almost any industry. Having said that, is there a major battle brewing between the roles of statistical analysts and pricing actuaries? As automation is setting sail in the insurance industry, could statistical wizards push pricing actuaries out of a job? Who is the real wizard in pricing the deal? This panel will be discussing on:

  • How automation and its impact of pricing the product assist in elevating insurances credibility.
  • The importance of IoT for insurance companies in today’s modern day underwriting.

1030 - 1100

Healthtech: Pleased to Meet You, Insurtech

Having access to proper healthcare has been a global debate and insurers have been trying to provide adequate solutions to allow for that. However, with recent times, the hike in global pricing for medical insurance is making this possibility a distant dream for many as they are unable to afford these insurances. Could a healthy relationship between insurers and healthcare providers by a technological marriage be the key in bringing down global pricing for healthcare insurance? This session will discuss on:

  • Digitalization of patient records made accessible in settling protection and financial claims easily.
  • Integrating insurance health models with digitalized health technologies by utilising human centered design structures.
  • The impact of executing and implementing digital strategies to elevate the health insurances among citizens. 
  • Technology variation insurance companies to invest in for the coming years with the ability to match the Asian markets health needs.

1100 - 1130

Morning Refreshments & Tour to Exhibition Hall

1130 - 1200

Wearable Tech – The Beginning of a Revolution within Healthcare Industry

The future of wearable devices is showing no signs of slowing down. Insurtech has allowed insurers and healthcare providers to gain more access to customers’ information for an in-depth understanding of their behaviour pattern which could translate to improving care. The growing demand for this device has produced a boom in the market with insurers seeking to supply wearable health technology to their customers. According to reports from MarketsandMarkets, this technology is expected to reach $51.6 billion within the next three years. Hear from the expert on:

  • Major trends reshaping the health & life insurance market.
  • How it can provide customers to gain better insight into the status of health in the future.

1200 - 1230

Case Study : Instant Access Changes Customer Experiences

Gibraltar BSN bagging the ’Digital Insurer of the Year’ wow-ed the judges with their initiatives via their WhatsApp e-policy. WhatsApp is used every second of every day just proves the ‘checkmate’ move taken to ensure the customers will be aware of their protection from the moment it is approved - cutting off the never-ending paper work. The ability to engage with Gibraltar BSN’s chatbot, Gibraltar INtelligent Assistant (GINA) seems to be the icing on the whole digital initiative cake. This sessions elaborates on:- 

  • How Gibraltar BSN crossed the historical silos existing in most insurance companies?
  • Impact of Gibraltar BSN’s execution of digital transformation strategy to heighten the quality and relevance of their services into a truly customer concentrated ecosystem. 

1230 - 1315

Panel Discussion: What’s Next? A Glimpse into the Future

Areas of insurance needs some jazzing up to avoid hanging on to customers by a thin thread. Being the buzz word on everyone’s lip, this substantial paradigm has to move forward in order to upkeep the speedy advances and to continue in retaining satisfied customers for the next 100+ years to come. Insurance sectors require to adapt technologies behind the scene as well with the type of product design and not forgetting the pricing strategies. We are present in an industry conquered by legacy technologies and actuaries have worked with yesterday’s tools long enough. Change is now. The experts will be elaborating on:

  • How has the movement of insurance parties aligning with the insurtech startups?
  • The solid wall still exists in overcoming legacy systems.
  • The areas of insurance with the potential of being taken over by AI.

Panelist:

 

SHADHANA SEKARAN

Director of insureKU, Malaysia

1315 - 1400

Networking Luncheon & Tour to Exhibition Hall

1400 - 1430

Case Study: India’s Game On - Winning by Service

Looking out for the people is what India is best at - insurance is no exception. With a universal platform, Symbo opened doors to insurers to be on top of their game by equipping them with the relevant technology in providing a customized service to their customers. The revolution doesn’t stop there and it keeps developing by the minute. One of the latest features from their award-winning product allows customers to utilize the Optical Character Recognition (OCR) technology with immediate motor insurance quotes with just a click of the vehicle license plate. Symbo’s expert talks on:-

  • How has Symbo’s role bridged the gaps of digital interaction with the insurance ecosystem?
  • Digital onboarding of new customers and agents in a time where face-to-face meetings are not as straightforward.
  • Establishing a structured framework to operate and sustain the value for individual customers’ needs through the entire partnership cycle of insurtech.

 

LAURENS KOPPELAAR

CEO & Head of International, Symbo Insurance, Singapore

1430 - 1500

Accessing the Development of Telematics

The integration of the telematics technology is the newest revolution in the motor insurance industry. Berg Insight stated in their survey that the telematics systems installed in vehicles are to reach 238 million units by the year 2023 from 49 million in 2017. Insurtech has acknowledged the data in motor insurance as a developing trend and it has created a veritable tsunami of data through customers’ vehicles making the prerequisite hardware for insurance telematics universal. The expert will be discussing on:

  • The scope to further the telematics development in accordance to the policies in Malaysia.
  • Telematics altering the insurance model and the advantages it brings to the customers.
  • Are smartphones in Malaysia equipped to provide reliable data based on the findings of telematics?
  • With the motor insurance having been de-tariffed in Malaysia as of late, could the implementation of such technologies make for actual competition?

1500 - 1530

The Age of Superapps – Do Insurers ride The Wave or are they “The Wave”?

As financial wizards have been dictating the importance of insurances for the “daily man” and with growing awareness of the need for insurances among the people, would the use of micropayment gateways allow for insurances to be more accessible to people? As the dawn of the Superapp is happening, would the adding of insurances and related services increase the demand of these apps? With more payment options being made available with these micropayment services and as they increase in human reach, would it translate to an increase in distribution which could lower the cost for the “daily man” in obtaining adequate insurance? Could the synergy create the ultimate “must have” Superapp? Hear from the expert on:

  • Strategizing the entry of insurance companies in emerging markets with low penetration levels.
  • Is the current governance allowing for an ease of information transference between insurer and customer digitally?
  • What are the creative ways currently employed to ease the payment burden globally?
  • Can this be a mechanism to improve financial literacy in emerging countries?

1530 - 1615

Panel Discussion: Privacy vs Cybersecurity

Cybersecurity is no longer viewed as only an IT problem but it has become a major risk for various other sectors – including the insurance industry. The breaching of data is slowly becoming the biggest regulatory headache for most business sectors. The dependency of technology in insurtech is more vulnerable to hackers. Although the data migration from traditional to digital is inevitable, security measures have to be in place to ensure that no party gets compromised. This panel discusses on:

  • The high costing impacts to insurance companies incorporating insurtech. 
  • The digital stringent security measures in curbing and avoiding any data breach in the insurance industry.

Panelist:

 

ANDREW TAYLOR

Cyber Product Head Asia Pacific, Chubb Insurance Pte Ltd, Singapore

1615 - 1645

Evening Refreshments & Tour to Exhibition Hall

1645 - 1715

You Need Us. No More a Luxury Accessory.

With an evolving digital landscape and the rapid proliferation of sophisticated cyberattacks, security can no longer be relegated as an afterthought by organizations. Cyber insurance market is foreseeing a growth of 26.3% CAGR between 2020 and 2030. Insurances exploring a tryst with automation and emerging technology displayed nothing but enhancement to their network. However, with the increase in ransomware attacks, the insurance industry has got to buck up in protecting confidential data as cybercriminals will always find a way to gain access to the network remotely. The expert will elaborate on:

  • The evolving cyberthreat landscape in the insurance industry signalling the necessity of a more holistic security plan with protection against a myriad of malicious activity.
  • With the ability of technology infusion, is there a possibility of ‘silent’ cyber attacks differentiator detection amongst the thousands of digital data?
  • Fraud detection before claim payments are made powered by AI for an accurate estimation and fast track claims.

 

ANDREW TAYLOR

Cyber Product Head Asia Pacific, Chubb Insurance Pte Ltd, Singapore

1715 - 1745

Prospects towards a Partnership

Insurance companies consider collaborating with insurtech companies as this partnership can aid in fast tracking their journey to the digitalization era. McKinsey has evaluated that less than 10% of insurtech companies are looking for discrepancy in the insurance business model, while nearly two-thirds centers on particular parts of the value chain, targeting to integrate with well-known insurers. The question is no longer insurtech versus traditional insurer but on how these two can pull forces in creating tangible value for the customers. Our experts will be speak on:

  • Challenges that are holding back insurtechs and insurer collaborations
  • How insurtech is able to make insurance more efficient by decentralizing the role of a normal insurer.

 

SOURABH CHATTERJEE

President, Head-Technology, Digital Sales, Travel, Bajaj Allianz General Insurance Company Ltd, India

1745 - 1830

Panel Discussion: Virus Wildfire Hard Punches Travel Armies

Steering with insurance policies isn’t always a straightforward system depending on the various variables to consider per customer. The penetration of coronavirus (Covid-19) into the world has had an unprecedented effect on global travels with citizens quarantining themselves from any measures of travel. Foreseeing the spread would diminish a lot slower than expected, travel insurers need to step up their game as the impact they are about to be bombarded by is HUGE. Our experts will speak on:

  • How should travel restrictions be applied to be most effective during a crisis?
  • The negative effects global diseases occurrences have on travel trends.
  • How the insurance sector plans to respond to this challenge of nature; both historically and currently?

Panelist:

SOURABH CHATTERJEE

President, Head-Technology, Digital Sales, Travel, Bajaj Allianz General Insurance Company Ltd, India

1830

End of insurTECH Asia 2020 Conference

the time is now! Be The First To Get The Digital Taste

We’re the answer to your transformation.