The InsurTech Ecosystem Forum at InsurTech Live Virtual 2023
Collaboration and innovations in insurtech drive efficiency, enhance customer experiences, and mitigate risks.
At InsurTech LIVE, panellists Joel Agard, Head of Innovation, Zurich Insurance, Stefano Bison, Group Head of Business Development & Innovation, Generali, and Gil Arazi, Founder & Managing Partner, FinTLV Ventures, came together for The InsurTech Ecosystem Forum to discuss partner ecosystems.
The panellists covered investment strategies, giving insight into ways disruptive technologies are revolutionising the insurance landscape, giving a comprehensive understanding of the invaluable contributions insurtech companies are making to the future of insurance.
Collaboration driving successful partnerships
“At Zurich, we do not follow a classic corporate venture capital approach,” Agard shared, discussing strategy.
“We mainly search for start-ups that help us solve business problems, finding strategic collaborations with start-ups.”
“Collaboration is a significant part of the power of our ecosystem,” said Arazi when asked about great partnerships.
“The insurance industry has a unique ecosystem, a global ecosystem, which includes all the partners that are on the value chain of the insurance industry, from the reinsurance companies to the international insurance companies like Zurich and Generali to all the way to carriers, NGOs, brokers, captives, etc..
“We are trying to have a wider discussion with all of the partners in this industry in order to utilise the power of the ecosystem for successful new initiatives and successful investments and of course, successful business models.”
In discussions around the future, including ESG, Bison believes that insurance is moving slowly towards further personalisation:
“If there is a big moment of change to come, it will be around personalisation,” he says.
“Being able to provide a personalised set up rather than a standard tariffication I think is the solution. The world is changing continually quicker, so it's really necessary, but we need to evolve the legacy systems we call today.We all know how difficult it is to adjust — it's a long process.”
The panel shared the red flags of collaboration too, as well as the future big ideas for the industry, how to enact customer-centric business and of course answers to questions from the virtual event audience of international insurtech leaders.
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