Insurers must import innovations from the insurtech ecosystem

10 June 2019 — Adina TUDOR
The insurance sector has evolved during the last years, as the world and the needs of people have been changing.

Josep CELAYA, the Global Head of Transformation at MAPFRE Group, said:

"We need to create open innovation systems that allow us to import innovation from the insurtech ecosystem in order to be competitive. Being proficient at that is a new key success factor. We will compete on adopting innovation.

I am relatively new to the insurance industry, as I have been working in the industry for eight years now. One of my first impressions is that people in insurance overestimate the relevance of the product for the end customer. I would say it's not about the relevance of the product, but the awareness of the customer during the day of the product. The customers tend to forget that we exist, the same way they tend to forget whose credit card they are paying with, and so on and so on."

Talking about how important is insurtech when looking at all the new ideas and plans and concepts, Josep CELAYA explained:

"I think traditional players need a new set of skills to play digitally. But it is also pushed by the new market dynamics. I am convinced that the most sensible way to gain those skills is to partner with the insurtech ecosystem."

The full interview can be read here.

Insurtech and the relationship between them and traditional insurance companies will be just one of the key topics analyzed at DIA Amsterdam 2019, between 25 and 27 June 2019. The event, supported by XPRIMM Publications as Media Partner, brings into debate the future of insurance and gather insurance pioneers from all continents.

Tickets are still available. XPRIMM Readers get a 200 euro if they use the discount code DIA200XPRIMM. Just click here to register.

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