Hilde Vernaillen, chairwoman, International Cooperative and Mutual Insurance Federation, said many insurers are limited in their home markets by legacy technology.
Anne-Mette Toftegaard, CEO, LB Group (Denmark), said better use of technology is allowing insurers to better identify risks and prevent claims, moving them from a focus on products to a future in which services play larger roles.
Bill McKinney, vice president, strategy and long-term development, Thrivent Financial, said the same tools that are changing the insurance environment in the developed world can be deployed in developing regions.
Adam Levin, chairman and founder, CyberScout, said insurers that take on cyberrisk are increasingly concerned about accumulation risk, causing them to look to reinsurers to offset.
Alec Catsuros, senior product manager - digital experience, Thrivent Financial, said consumers have come to expect quick access to products and services, which puts slower-moving insurers at a growing disadvantage.
Copyright © 2017 A.M. Best Company, Inc. and/or its affiliates ALL RIGHTS RESERVED.
