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Episode Synopsis "Insurance event 2020 - Go beyond digital Transformation, Say yes to Digital Flow - Keynote speaker Stephan Linnenbank "
Both Uber and Instagram (to name a few) started during the previous financial crisis. The move to digitization will march on perhaps with increased vigor as businesses and customers make the shift to remote paperless work conditions as the norm. According to the European Commission COVID-19: · Emphasizes the importance of digital financial products and services. · Shows the dependency of EU citizens on remote digital services. · Accelerates the digitalization of the industry. Observations regarding Insurtech and digitalization: · Digitalization and InsurTech is part of the vision for the future for most insurers, but the large base of small/midsize insurers has a following role. · Supervisors (ECB, EIOPA, DNB): Insurers should focus on the opportunities and risks of technological development, be able to underpin and implement strategic decisions with respect to InsurTech. · Collaboration with InsurTech is key. · Capacity for change is key to become future proof What does this mean for the insurance sector? Its business model, value chain and way of working? How do the sector become future proof?
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