On Wednesday 2nd August, we released the inaugural TAS Insurance Industry Report 2017 with a launch event that included a panel discussion with high-profile insurance industry thought leaders and influencers.
Moderated by Andrew Stabback, CEO and Publisher, AB+F, the panel discussion included the following high-profile speakers: Sally Loane, CEO, Financial Services Council; Vanessa Dobson, Head of Research and Development, Munich Re; Brenton Charnley, Founder of InsurTech Sydney; and me.
Held at the Allens offices in Sydney’s CBD, the event was attended by close to 100 esteemed guests, bringing together the brightest minds in insurance, reinsurance, InsurTech and financial services more broadly.
The panel discussion was sparked by in-depth conversations around some of the report’s key findings, such as the current opportunities and challenges facing today’s incumbent insurers; the rise of the customer and InsurTechs; and the disruptive impact of technology upon the industry, both now and in the future.
The event’s guests were also among the first to read the TAS Insurance Industry Report, which revealed how 90 per cent of leaders believe innovation is the fundamental ingredient for remaining relevant and competitive in a disrupted world.
Why did we initiate the Insurance Industry Report?
At a time of rapid change driven by technology, the insurance industry faces new and complex obstacles in the road ahead. The rise of disruptive players like InsurTechs and a push for customer-centric business models has forced insurers to adopt a more innovative mindset and drive a shift away from outdated legacy models.
It’s clear that the industry has reached the tipping point of further disruption – yet leaders are divided over which path to take to progress the industry. How can insurers compete with agile and nimble InsurTechs? Will the rise of offshoring result in the loss of local talent? How can incumbents and regulators work together to reduce the regulatory burden?
We addressed these burning questions and more in our first ever TAS Insurance Industry Report 2017. As a trusted technology partner for over 50 insurance and financial services institutions, we initiated the report to spark a much-needed conversation about the insurance industry’s current trends and future outlook.
The aim of the report is to provide a timely and relevant industry snapshot for executive leaders, customers and stakeholders alike. Drawing on interviews with over 50 executive leaders from a diverse range of insurance companies and InsurTech start-ups, we highlighted strategies for remaining competitive, relevant and customer-centric in a highly regulated and disrupted industry.
The report will have an annual release, and we very much look forward to it becoming the go-to independent assessment of the sector’s current state-of-play.
If you wish to be involved in the 2018 edition, please contact me directly to discuss.