Face-to-face debate on insurance innovation resumes The event will bring senior executives together to explore innovation in commercial lines

Published By Pressat [English], Fri, May 6, 2022 12:00 PM


The event will bring senior executives together to explore innovation in commercial lines

One of the insurance industry’s most prestigious conferences will resume on a face-to-face basis for the first time in three years in Chicago next week, as executives meet in person again to debate innovation within their industry.

Senior executives responsible for managing commercial lines within insurers are expected to attend Commercial Lines Innovation USA, an event that delivers a day of in-person sessions in Chicago on May 11, complemented by virtual sessions in the run-up to the event, on May 9 and 10.

Intelligent Insurer, the publication behind the event, pivoted through the COVID-19 pandemic and quickly became the leading provider of virtual events in this space. But the company has listened to the demands of the industry, to again deliver the type of networking and face-to-face debate that cannot be replicated online.

Delegates at this conference can follow events virtually for two days—and then access a global network of industry pioneers in commercial insurance innovation in person in Chicago, by taking just one day out of the office.

The stunning venue, RPM Chicago, will offer delegates splendid views of the Chicago River from a full-length outdoor terrace, while enjoying the best food and hospitality the city has to offer.

The conference will focus on some of the challenges commercial insurers face at the moment—and how they are innovating to solve them. Driven by an increase in the frequency and severity of claims, hardening rates, selective capacity and pressure from new entrants, many are seeking solutions.

For many commercial lines underwriters, the answers lie in how to embrace data, technology and innovation themselves—and find ways of staying one step ahead of the competition. They increasingly understand that, to succeed, they must transform disruptors into enablers who support and add value to their own digitisation strategy.

That context gives speakers and delegates at this event much to discuss: from how to write tougher classes of business and mastering the integration of third party data, to how to better align broker interests and helping clients navigate the hard market, this event will inspire and inform delegates, helping them make better strategic decisions. And all in a one-day fully in-person event.

Rachael Gore, head of digital content for Intelligent Insurer, said:

“In creating this event, with a live, face-to-face aspect for the first time in three years, we have listened to our partners, delegates and the industry overall. By now even the introverts among us are clamouring for good old-fashioned handshakes. No matter how slick a digital interface might be, business thrives in the context of face-to-face interaction where nuance, personality and human connection build credibility and trust.

“There is much to discuss at this event—some difficult, thorny issues better dealt with in person. This event will allow delegates to catch up with clients, identify prospective clients and partners, and connect with all parts of the insurance ecosystem. In just one day out of the office, you’ll access a global network of pioneers in commercial insurance innovation to help you reimagine traditional products and services, and gain practical strategies and tools ready for immediate implementation.”

Commercial Lines Innovation USA (May 9–11) will bring together 800+ executives managing commercial lines of business within insurers to share transformative insights on how to cultivate data enrichment for underwriting, transform inefficient operations, and adapt to changing broker and customer needs.

Featuring more than 40 speakers and delivering more than 15 hours of thought-provoking content, the event will deliver a powerful combination of in-depth case studies, interactive roundtables and lively panel debates designed to deliver the strategic insight that insurance executives need to instigate and deliver innovation in an ever-evolving landscape.

The speakers and panellists are all experienced insurance professionals able to speak from years of personal experience working on the frontline of what is a rapidly changing landscape as technology, data and all forms of innovation drive change on multiple fronts.

What is more, in the context of the disruptive effects of the COVID-19 pandemic, we’ve got all bases covered. For the first time, we’re bringing you a brand new hybrid event concept: two days of online, virtual content and a day of live sessions in Chicago.

Run by Intelligent Insurer, the leading digital hub for senior insurance executives, brokers and insurtechs, the event is free for insurers to attend and features leading industry figures including:

Day one, on May 9 (virtual), will cover distribution and the customer experience. Expert panellists will discuss how to meet changing customer needs, augment broker channels with new digital tools and expand into new distribution channels to access profitable markets. Specific sessions will cover topics including how to navigate hard market conditions, getting the best from artificial intelligence, leveraging a range of digital tools and cyber broking and risk engineering.

Day two, on May 10 (virtual), will cover underwriting & pricing. A stellar panel of experienced underwriters will focus on how to leverage emerging technologies and data-driven innovation to inform risk assessment, price accurately, improve profitability and drive growth. Individual sessions will look at cyber underwriting, rules-based automation and handling ever-growing climate exposures.

Day three, on May 11 will be a live, in-person event in Chicago, giving delegates the opportunity to meet face-to-face with peers for a day of networking and focused debate at an iconic venue RPM Chicago. A diverse and knowledgeable range of speakers will discuss topics ranging from risk transfer to prevention automation, the changing relationship between brokers and carriers, how data can enhance the art of underwriting and the use of weather data to transform property books.

This ground-breaking event is the latest in an ongoing series of events run by Intelligent Insurer with the aim of equipping industry players with the networks, insights and knowledge needed to progress their careers and drive the wider evolution of the re/insurance industry.

Here is a snapshot of what some of this year’s speakers said:

“Rules-based automation for commercial P&C is absolutely the future of business insurance underwriting, and not just for micro businesses. The historical bias in commercial P&C is that having a human review every account produces better results. I view this thinking as an ungrounded bias to be challenged at every turn. The sooner underwriting organisations drop this bias the sooner this collective industry will improve customer experience and produce better underwriting results.” John Wallace, chief insurance officer, Vouch

“Cyber broking and underwriting are facing challenges in this increasingly difficult cyber threat environment. There is value in having prepared and informed clients and alignment between underwriting and broker expectations during the cyber insurance process. I’m looking forward to discussing how we can all work together better to improve the cyber market and security for cyber policyholders.” Yosha Delong, global head of cyber, Mosaic Insurance

“Climate change is an urgent risk that is confronting Zurich’s customers and the insurance industry. We are committed to helping our customers better understand the opportunities to change and adapt to be more resilient to climate risk.” Jonathan Charak, emerging solutions director, Zurich

Press release distributed by Media Pigeon on behalf of Pressat, on May 6, 2022. For more information subscribe and follow


Alison Lancaster

Editorial
[email protected]