3 Interesting Ideas Discussed at Market Minds Insurance 3.0

Last week, Ken Clanton attended the Market Minds Insurance 3.0 event and wanted to share a few ideas he picked up during the day. Below, he has written a small blog that captured some of the stand out ideas from the event.

There were speakers from a range of companies including Revolut, Slice Labs, Aquiline Capital Partners, Guy Carpenter, Hitachi and Convex Group.

1. Evolving the Workplace to Attract and Retain New Talent

Inna Grynova from Revolut shared their innovative approaches to attract and engage the next generation of talent. This includes creating meaningfulness for their employees, very fast career growth, flexible workplaces and encouraging emotional connections at work.

2. Creating Insurance Products for the Gig Economy

Philippe Lafreniere from Slice Labs shared how they are helping insurance companies grow via ecosystems and create new products geared towards the recent emergence of the gig economy.  Products for gig economy buyers must be: Frictionless, On Demand and Flexible.

3. Building the Insurance Company of the Future

This panel session on how to build the Insurance company of the future highlighted four interesting themes.

  • Data needs to be collected in a way that it can be analysed easily and blended with new sources like IoT devices.

  • Ecosystems work best when insurers and InsurTechs contribute specialised knowledge and collaborate to improve (not just disrupt) complex processes.

  • Begin with a process mindset and then apply tech. Technology can become a straitjacket and firms can waste millions when they force tech to support poorly designed business processes.

  • Customers expect and want humans in the loop. The challenge is to provide your teams with information which enables them to decide and respond quickly.

As always, I’d be delighted to answer any questions or hear your thoughts – just send me a message on LinkedIn or email ken.clanton@altviz.co.