We recently wrapped up the 29th TAI User Group. Over 200 life reinsurance professionals joined us in Chicago for an exciting line up of speakers, breakout sessions and activities that Empowered Action. This included insightful discussions from two reinsurers, an engaging InsurTech panel, educational break-out sessions, networking events and numerous opportunities to stimulate both “left” and “right” brain thinkers.
Machine learning and artificial intelligence are hot topics right now – and for good reason. Machine learning (ML) and artificial intelligence (AI) are unlocking new insights, capabilities, efficiencies, and opportunities across industries and sectors. Life insurance is no exception. Getting a grasp of what it is and how it can impact life insurance is critical to rethink challenges, spot solutions, and adapt in a changing industry.
Last week I had a chance to moderate a round table on Entrepreneurship and Innovation at the 2017 SOA Annual Meeting. It was a great session with a lot of alternative view points on the future of insurance. Topics of discussion ranged from the displacement of production and distribution to Amazon and Walmart, to regulatory understanding across different jurisdictions and why this complexity is a necessary reality, and more philosophical arguments around insurance’s role in society and whether we are optimizing these duties for the “jobs that need to be done”.
True or False. Companies should be concerned if their employees are on LinkedIn. The answer – false! I recently led a session at the 2017 User Group meeting on the importance of leveraging LinkedIn for building a personal brand and developing professionally. Two things that companies should be encouraging their employees to do. One of the attendees in my session voiced concerns over what their employer or colleagues would think if they were on LinkedIn (‘aka will they think I am job hunting’). While the social media network for professionals can be used for finding new employment opportunity – this is only ONE of the many use cases. As you’ll see below, LinkedIn can be used for so much more – which is why companies should encourage their employees to be active on the network. Whether you are an employee or employer wondering if LinkedIn is the right place to be – I hope to convince you that it is indeed.
You know that feeling you get at the end of a conference? The energetic burst of inspiration and readiness to implement everything you learned into your everyday work? But then you get back to the office and unfortunately, allow other priorities to get in the way of implementing new learnings. While writing this blog and reflecting on my takeaways, I also thought about how we can make time for new learnings instead of putting them on the back burner. So in addition to the User Group highlights I shared in Part I and below, I'll also discuss how to keep the momentum going post conference. For now, let's dive back into highlights from the 2017 User Group.
Can you believe we just wrapped our 28th User Group?! More than 170 re/insurance professionals joined us in Arizona last week to connect, strategize, learn and soak up the sun. This year, we focused on providing attendees with the opportunity to fuel their strengths on an individual, team, organizational, and industry basis. The action-packed week included: Educational breakout sessions A panel of InsurTech experts And an exciting Keynote that led a finger fencing battle! (More on that later). I hope everyone left feeling energized, refreshed and ready to channel their takeaways into their daily routine. If you missed out on the action or want a quick recap from our 28th User Group meeting, check out my highlights below.
What do you get when you combine changes in customer behavior, expectations, and demographics with the rise of insurance start-ups and new insurance models? Pressure on insurers to pivot, invest, and develop new competencies to stay connected with the next generation of consumers. Connected devices, robo-advisors, P2P Insurance, and IoT are just a handful of many buzzwords and evolving business models making headlines in every industry conference and publication in the recent years. While a lot of discussion around insurance innovation is focused on the future – there are changes happening now. Which begs the question, are we already experiencing the future of insurance? To help you discover the insurance innovation eco-system, we hosted an Innovation and InsurTech Panel Discussion at the 2017 TAI User Group. Below is a sneak peek of what our panelists shared at the meeting.