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2018: Our deusex machina
moment?Pina Albo, CEO, Hamilton Insurance Group
Sophia Lauren
“ I’d rather eat pasta and drink wine than be a size zero.”
Deus exmachina
God from a machine
Insurancenarrative
Standard model
Model with personalized support programmesERGO Hestia CPOP
Vocationalactivation
ActiveSocial rehabilitation
Medicalrehabilitation
Compensation+ annuity
HospitalAccident &emergency
Accident
PassiveSelf organizedrehabilitation
Compensation+ annuity
HospitalAccident &emergency
Accident
CPOP Report – Page 5
Standard model of claims handling
New model including personalized support programmes
Non-pecuniary loss compensation
AnnuitiesMedical costs
Non-pecuniary loss compensation
AnnuitiesPersonalized support programmes
CPOP Report – Page 8
InsuranceTechnology +Medical +
Marsh Global Risk Report – Page 5
Klaus Schwab
Globally, people are enjoying the highest standards of living in human history. And yet acceleration and interconnectedness in every field of human activity are pushing the capacities of institutions, communities and individuals to their limits.
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Klaus Schwab
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This is putting future human development at isk. When risk cascades through a complex
system, the danger is not of incremental damage but of “runaway collapse” or an abrupt transition to a new, suboptimal status quo.
Rising risksClimate change Pandemics Cyber security
Drowning in data
rance ustry
Oth Indust+
Stone ageinsurance
Lloyd’s Innovation Lab
Inga Beale
The lab is designed to bring in creative talent from around the world to work in partnership with Lloyd’s businesses and the Corporation to ensure the market continues to innovate as the world moves into an increasingly digital, data-driven future.
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Order now
QuickCustomizableHassle-free
Private Technology Investments by (Re)Insurers
Willis Towers Watson Quarterly Insurance Briefing – Page 59
1 4
29
66
105120
2012 2013
2014
2015
2016
2017
Willis Towers Watson Quarterly Insurance Briefing – Page 32
Claimsmanagement
Product & distribution
Data & analytics
Business process enhancement
Money wasted
RMS
MGA
World Economic Forum - Blockchain
Hanni Ali
There’s a lack of openness in the overall transaction.
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Lack of trust
Include brokers and agents
It’s all about value
Watch this space
Joan Lamm-Tennant
“Emerging markets have a huge protection gap.”
$30-40 billion in premiums
3-4 billion policies =
Maize farmers
Credit solutionsResilient seedsFarming education
New products that address the unique risks facing the poor
Reduction in frictional costs, particularly distribution costs
New methods for pricing and underwriting
Financial and social impact metrics
Collaboration across stakeholders (mindsetshift)
Bundling insurance to drive economic development
Collaboration across stakeholders, requiring a shift in the mindset of leaders.
Brian Duperreault
No single company has been able to crack the code [of microinsurance].
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Brian Duperreault
I think it is because we have been going about it the wrong way.
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Brian Duperreault
““For any of us to succeed, all of us must be involved.”
Ideate – fail fast – pivot
www.m3office.com/a-tour-of-avivas-digital-garage-in-toronto/
Start-up pitch
Use technology to empower the insurance industry
Attune app
“No hands touch the trade”
Fresh set of skills and steady, experienced hands
New normal =
https://commons.wikimedia.org/wiki/File:Set_design_Act1_of_Androm%C3%A8de_by_P_Corneille_1650_-_Gallica_2010_(archival).png
Is 2018 our moment?
Thomas Watson, president of IBM - 1943
I think there is a world market for maybe five computers.
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Thomas Siebel, Siebel Systems - 2003
Microsoft will roll [Salesforce] over. They get Zambonied.
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Jim Keyes, Blockbuster CEO - 2008
Neither RedBoxnor Netflix are even on the radar screen
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Jim Keyes, Blockbuster CEO - 2008
in terms of competition. It’s more Wal-Mart and Apple.
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Thank you.
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