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.

Share |

Related articles

Five CEE re/insurers have an "A" rating from A.M. Best

Among the re/insurance companies rated by A.M.Best there are 23 entities domiciled in the CEE, SEE and CIS regions. Out of this total, 5 companies have an "a" Issuer Credit Rating (ICR) and an "A" Financial Strength Rating (FSR)

2018-12-06

A.M. Best announces ESMA registration for new Amsterdam office

A.M. Best has announced that it has been registered as a credit rating agency (CRA) by the European Securities and Markets Authority (ESMA) to provide ratings through its new subsidiary, A.M. Best (EU) Rating Services B.V., based in Amsterdam, the Netherlands.

2018-12-06

The CEE real estate market - increasing demand for title insurance

"Fifteen years after its introduction, title insurance continues to play a growing role in the CEE real estate market," Jean-Bernard WURM, Co-Founder & Managing Director of Secure Legal Title, London said talking to Property Forum about the trends in the CEE region's real estate sector.

2018-11-29

VIG's underwritings up by 2.9% in Q3; year end targets confirmed

Vienna Insurance Group (VIG) continued its stable upward trend in 3Q 2018, achieving a further improvement in key figures. Given the positive development, VIG disclosed for the year end a GWP EUR 9.5 billion target and a result before taxed expected figure of EUR 450 - 470 million.

2018-11-28

ON THE MOVE

MetLife named its EMEA head as CEO of Japan unit

MetLife announced that Eric CLURFAIN, currently Executive Vice President and Head of EMEA, has been named Chairman, President and CEO of MetLife Japan - the company's second largest market globally and its largest retail life insurance business, effective Feb. 1, 2019, following approvals.

06.12.2018

American International Group appoints new CFO

American International Group announced that it has appointed Mark LYONS to the role of Executive Vice President & Chief Financial Officer (CFO). He succeeds Sid SANKARAN, who will remain at AIG in an advisory capacity through the year-end reporting process for fiscal year 2018.

06.12.2018

Wolfgang STOCKMEYER appointed as VIG's BTA Baltic new Board Chairman

Wolfgang STOCKMEYER (49) has been appointed, on 30 November 2018, Chairman of the VIG's subsidiary BTA Baltic Management Board, as part of a series of changes in the composition of its Management Board operated by the main player of Austrian Group in the Baltic region.

05.12.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all