For its 16thAnnual Technology Conference (ICTC 2018) Insurance-Canada.ca is focusing on the opportunities and challenges provided by new technology in use by Canadian insurers and brokers.
Artificial Intelligence is becoming a reality for Canadian insurance. Since the origin of electronic computing, “Artificial Intelligence” (AI) has been a goal for programmers and fodder for science fiction. These two groups are now coming together as reality emerges. AI and its counterparts – machine learning and advanced analytics – are coming into play in insurance companies and larger brokerages. Early implementations are demonstrating the use of AI in claims settlements, providing more accurate insurance product pricing and allowing customers ease of access to a variety of coverages.
From the buyers’ perspective, insurers and brokers are finding that Customer Experience is a critical success factor for attracting consumers while utilizing advanced technologies. Kanetix Ltd will discuss some of the challenges for customer-facing insurance providers as they optimize the customer experience, and techniques – including AI – to better address human behaviours.
Other sessions at ICTC 2018 will cover a larger landscape. Experts from the analyst, insurer and technology supplier communities are preparing sessions focused on Blockchain, IoT (Internet of Things) and Digital insurance technologies. These include:
- New risks and developing insurance products
- De-risking strategies through climate adaptation
- The impact of autonomous vehicles on the automotive insurance product
- Customer experience technologies on the business of insurance.
Taking a user’s angle on the insurance industry and its technologies, David Coletto, CEO at Abacus Data, will provide the keynote address. Based on more than seven years of research, Coletto’s presentation will describe the context around all the technologies, and will offer a Canadian perspective on generational change (Millennials and Gen Z) and the disruptive forces at work in both consumer and insurance markets.
The 2018 Insurance-Canada.ca Technology Conference, entitled Insurance Vectors in Play, will be held on February 27-28, 2018 at the Beanfield Centre in Toronto. Details on the location, agenda, and registration can be found here. (www.insurance-canada.ca/ictc)