Practice and client management

The insurance industry in the midst of major structural changes, led by those willing to take risks and go against the inertia of a venerable sector.

These carriers and others have begun to consolidate efforts under executive-level leadership, with mission statements and budgets to match.

The insurer embeds new technologies, such as AI and IoT, into its organization on an ad-hoc basis, rather than developing products separately in a lab and force-fitting them.

Carriers cite the speed of product development in these programs and the ease of access to dozens of startups in one location as major benefits of these relationships.

Priorities are notably centered around the insurance agent for growth as well as investments in AI and data analytics.

Many are using graph database technology to provide the necessary relationship mapping, combined with master data management, data federation and artificial intelligence.

The insurtechs showcased their platforms and the potential use cases for the industry, in areas such as claims, customer experience and underwriting.

Insurance companies need to adopt the new marketplace mindset of transparent comparison and seamless user experience to keep customers engaged with the products we sell.

Life & annuity carriers have had valuable opportunities to learn about new technologies, and not necessarily from their own mistakes.

Emerging technologies such as IoT, wearables and autonomous vehicles require rapt attention from insurers now, as they can fundamentally change the industry in ways never before seen.

The insurer will leverage the university's research in the Internet of Things, data science and machine learning to help improve the life underwriting process.

The platform, tailored to small business owners, is first being offered to DJs, but will soon be extended to personal trainers and health & wellness coaches.

New business models based on blockchain and cognitive intelligence are coming, which will lead to the introduction of smart contracts for greater efficiency.

Digital channels are proliferating rapidly, and carriers have to be strategic in how they reach customers.

Startups and their carrier and venture capital partners are looking to cooperate to transform the insurance industry, not simply 'disrupt,' says panel.

With mobile channels matured, the insurer looks to capitalize on other emerging technologies, including virtual reality and the Internet of Things.

It’s tough enough to grapple with sexual harassment in the workplace. It’s more complex when clients are involved.

There’s no shortage of tech solutions coming to market in the insurtech era, but it all comes back to customer wants, panel says.

Led by chief digital transformation officer Todd Fancher, AmFam's innovation strategy will lean on small teams and focus on customer experience.

Voice assistants provide carriers with another digital channel for engaging their policyholder customers, but the platforms remain somewhat limited for now.