Canadian Underwriter magazine and DMTI Spatial are offering a webinar on Feb. 25th highlighting the business impact of digital disruption driven by consumers and mobile-first start-ups.
The webinar, titled 2016 – Year of Disruption: P&C Insurance Re-imagined, will be held on Thursday, Feb. 25 at10:30 am EST and will run for approximately 45 minutes. Speakers include Mukul Ahuja (pictured left), senior manager, Insurance Strategy practice at Monitor Deloitte; Keith Walter (pictured below right), senior advisor and joint leader, actuarial, rewards, and analytics service line at Deloitte Canada; and Jamie McDougall (pictured below left), vice president, business intelligence & analytics, Gore Mutual Insurance Company.
A Q&A session will follow the presentation.
P&C insurers are finding themselves facing a perfect storm of change. Evolving digitally connected consumers, intensifying competition from mobile-first start-ups and app-based disruptive technologies are creating new business pressures. At the same time, climate change is playing havoc with insurers’ ability to predict losses from natural catastrophic events. Regulatory scrutiny and requirements are also on the rise. Taken together, these factors are forcing P&C insurers to rethink how they secure competitive advantage and long-term value. In five to ten years, the speakers predict, there will be a “radically different landscape in Canadian P&C insurance.”
With regards to digital connectedness, today’s consumers are “always-on” via connected mobile devices, well-informed – and very demanding. They spend more time online using tablets, smartphones and computers to research, shop and socialize. Connected, impatient and value-conscious, consumers are forcing P&C insurers to pay far more attention to their own brand and the customer experience they deliver. With good reason, too: 40% of current P&C customers are likely to switch to a new provider for auto and home insurance in the next 12 months. There is a thirst for digital disruption and those industry players who get there first will be able to secure a competitive advantage.
Understanding the digital lifestyle and start-up shifts, anticipating their business impact and making the necessary changes to adapt will be an absolute imperative for P&C insurers in the years to come, the speakers said.
Register for the free webinar here: http://bit.ly/insdistrupt or click the banner below: