IASA 86TH ANNUAL EDUCATIONAL CONFERENCE & BUSINESS SHOW

Insurance 2024: Emerging Trends and Technologies that Matter to Insurers

Session 675

What does the future hold for insurance?

Demographic shift and innovative technologies are driving massive changes in customer-driven business models

Traditional markets have become

saturated and companies must

look beyond their borders to

continue to grow

With growth slowing,

insurers must embrace

transformative technology

for cost reduction and

increased efficiency

In a low interest rate environment, insurers must

invest in operating technology to drive down

frictional costs and stay current. “Anna Khalamayzer Property and Casualty 360”

In a global marketplace intra-

company communication must

evolve to enable internal

collaboration and thought leadership

Traditional sales methods

and consumer interaction

are no longer sufficient

Insurers must adopt Omni-channel

strategies that maximize all methods

of communication, to remain

competitive in a technology driven

marketplace

The connected

consumer is no longer

just a buzz word, it has

become a reality

Companies are offered

the choice, evolve and

embrace technology or

become obsolete

Technology is

transforming business

and has become a

catalyst for growth

The Five Technology Catalysts Currently

Transforming the Insurance Industry

Internet of Everything

connects our world

through the use of

telematics and sensors

Social Media has changed

the way we interact, share

and communicate

information

Mobile has enabled consumers to be connected anytime anywhere

Analytics has allowed companies to

turn the endless streams of internal and external data into actionable insight

Cloud computing allows companies to reduce spending on technology infrastructure and make information available anytime anywhere

Innovative Technology in the

Insurance Industry

Usage Based Insurance

(UBI) is completely

revamping the way insurers

sell and consumers buy car

insurance.

Mobile Claims Management is

driving down the cost of

processing claims, and

greatly reducing claim lag

time

Companies are able to

monitor product performance

through simple unified

dashboards, to drive business

strategy and address

consumer demand

Through automation and new

process management

technology, customized niche

insurance products are very

close to a reality

These Top Ten Connected Applications are Projected to Account for 60% of Global Business Impact in 2020

http://connectedlife.gsma.com/toptenappsin2020/

A Smarter World

50+ Sensor Applications by 2020 & BeyondSource: Libelium.com

How do you

invent?

How do you operate?

How do you test

the market?

EMBRACE

TECHNOLOGY

IASA 86TH ANNUAL EDUCATIONAL CONFERENCE & BUSINESS SHOW

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