An Insurtech IoT event with a difference took place recently. Concirrus held a smart but relaxed dinner discussion at Home House in the West End on 3rd November.
Being dragged kicking and screaming over to the West End was surprisingly productive as it meant there was a far broader group of people than the usual EC3 crowd. This allowed the conversation to be somewhat different to many of the ones we are having near Lloyd’s at the moment. The regional insurers, lawyers, niche consulting firms are just getting on with the implementation of #telematics #smarthome etc. There is no great existential debate as we appear to be needing to have on and around Lime Street. This is people just getting on with making the most of what technology, data and society can offer; in order to do insurance smarter. This is #insurtech the “just do it” way.
Nigel Walsh spoke about the “growing snowball” of insurtech-driven change, but also that he believes this is a series of evolutions rather than a single revolution.
Francesca Smith facilitated a discussion around the case for change and where in an organisation’s thinking it needs to start and be executed, and the challenges therein.
Concirrus CEO Andy Yeoman led the evening helping us realise what an exciting point we are in the current wave of insurance-industry change. And quipped that there will soon be two types of insurers — those who use #IoT, and those who used to exist.