Unleashing the IoT potential in insurance

The beginning of December marks the 4th edition of FinTech Connect, a full eco-system fintech trade show dedicated to major banks, insurers, capital market firms, and investors.

The event also gathers top fintech and finance professionals, who seek competitive edges for their business, as well as investors seeking the next fast growth investment opportunity and advisors who can help them grow.

Among the keynote speakers participating in the event is Matteo CARBONE, Founder & Director of the IoT Insurance Observatory, who will talk about the future of insurance in the digital world.

"The ability to innovate in the insurance sector is remarkably higher than people pretend it to be. The German Post Office first experimented with digital insurance sales in the beginning of the 1980s using 'Bildschirmtext' (data transmitted through the telephone network with the content displayed on a TV screen)," Matteo CARBONE pointed out.

"As of today, almost 60 percent of auto insurance coverage is sold online on the UK market, which is more than three times higher than the 17% incidence of e-commerce on all the retail sales in the UK. Outside Europe, the South African insurer Discovery has introduced new ways to improve policyholders' lives by using connected fitness devices to track behaviors, generate discounts, and deliver incentives for healthy activities. Discovery has been able to replicate this "Vitality" model in almost 20 different countries and different business lines", he added.

Talking about the greatest technical innovation to come out of 2018 in relation to Insurtech, Matteo CARBONE underlined: "In the insurance sector, nothing happens over-night. Many insurtech solutions are at their infancy stage. As of today, one of the most mature insurtech approaches is telematics and some best practices have started to extract concrete value from the usage of telematic data. We have even seen Root - a US insurtech carrier based on a try-before-you-buy telematics app - achieving unicorn status in the last round of financing."

About FinTech Connect

Now in its 4th year, FinTech Connect is established as the UK's largest and fastest growing financial trade show. Following a record year in 2017 with 3719 attendees from 1800 companies, this year's show promises to be bigger and better than ever, with 5,000+ attendees across 2 jam-packed days, 250+ industry leading speakers,175+ exhibitors, 50 tech demos and 6 dedicated conferences. Register for a free Visitor pass, or use our code XPRIMM10' to save on your Full Pass! Learn More.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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