“Nine in ten insurers fear losing part of their business to FinTechs,” a recent PwC Global FinTech Survey found. According to majority of the PwC suvey respondants, “margin pressure and loss of market share are top FinTech- related threats, while the main innovation drivers are new customer needs and deeper risk insights.”
Yet, although three in four industry players already acknowledge ongoing disruption and are dealing with FinTechs at different levels, there is still “little responsiveness to emerging innovation waves, insurers focusing most often on commonly adopted trends.”
The fast digitalization of the financial services providers’ world, in particular in the insurance field, is both creating huge opportunities and strong challenges for the industry players. Yet, no matter how important the obstacles to overcome may be, the road to the future development can’t take another path than the one of the technological modernization.
With a close look at the latest trends in the industry, IIF2017: Insurance in the DIGITAL World Conference will touch the following topics:
- Digitalisation and its impact on sales, underwriting, and claims management
- IoT – Internet of Things
- UBI – Usage-Based Insurance
- Is BigData a potential risk or an opportunity for consumers and undertakings?
- Telematics – the way forward for motor insurance?
- How much threat truly lies in the cyber world?
The event will take place on 14 November 2017, at the Bristol Hotel, Vienna (AU).