How Insurtech impacts claims – A summary from the ANZIIF Insurtech Conference

Gallagher Bassett (GB) was the gold partner for the 2018 ANZIIF Insurtech Conference which took place in Sydney on the 3-4th of May.

Now in its 2nd year, the ANZIIF Insurtech Conference aims to showcase how the digital revolution is reshaping the insurance industry and how disruption provides the chance to inspire.

On day two of the conference, Scott Murray – Automation Process Design Lead moderated the panel discussion between Matthew Griffin, Partner - FAS Global, Nick Herford, Founder and Chief Executive - Hello Claims, Gilberto Spencer, CEO & Co-founder - ClaimSpace  on ‘How does insurtech impact claims?’

The discussion touched on several topical areas’s aligned to the broad theme of reimagining claims processes and learning about the opportunities to providing exceptional customer experiences through technology led improvements.

  • How Automation and Artificial Intelligence (Ai) will make the claims process more consistent and predictable and faster for our customers (by reducing subjectivity and inexperience)
  • The role of blockchain in claim fulfillment (reduction in fraud and the ability to certify a claimant is the true owner of an item)
  • The impact of autonomous vehicles and where will the risk reside when there is no human behind the wheel
  • The role new insurance platforms play in making claims data more transparent so the customer has a clearer view of where their claim is in the process (and the ability to avoid contact centres through improvements in digital platforms)
  • The role technology will play in reducing touchpoints and downtime across the claim cycle. For example, waiting for approvals, scheduling inefficiencies and expediting payments for claims that are deemed legitimate
  • The expectations of millennials compared (Settle it now) to baby boomers (I pay for service)

Key features of the event, included Insurtech Alley, a market-place style forum where start-ups could connect directly with insurers and tech companies, and Tech Tank, which provided 10 start-ups with the opportunity to pitch their business to a group of high-profile insurance executives.

Other notable speakers at the event included:

  • Michael McAuliffe, Founder, World Nomads Group
  • Zia Zaman, Chief Innovation Officer, MetLife
  • Nick Sokolich, Global Vice President Sales, FaceMe
  • Andy Parton, Partner, EY
  • Daniel Fogarty, CEO & Founder, Evari
  • Ralph Ronnenberg, Managing Director, Munich Re

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