Reinsurance 101 - An Introduction to Reinsurance

For independent agents, choosing the right insurer for each risk can be difficult and time-consuming. Automating the market search process can help your business increase efficiency and drive growth by finding more markets for commercial risks in less time. Watch this on-demand webinar to discover how you can leverage innovative technology to instantly search insurer appetite and access new markets for new and renewal business with ease.

Changing customer expectations and behaviors are forcing a shift to a multi-channel world, which is challenging insurers to provide channel options and choice across the entire value chain. Within this rapidly shifting business landscape, insurers must rethink their distribution strategy and execution, because improving distribution is critical to growth. Agents and advisors remain critical to the way insurers engage customers and sell their products and services, but how they do this needs to look much different than it did five years ago, or even one year ago. Insurers must set up multi-channel distribution options to enhance customer interactions on the cus­tomer’s terms … not the insurer’s. As a result, distribution channel strategies, including how to support the traditional agent/broker channel, are a focus for transformation in the age of Digital Insurance 2.0, and are foundational to an insurer’s ability to realize their growth and innovation strategies.

The Financial Conduct Authority’s proposed introduction of a new Consumer Duty has the potential to shift the balance further in the direction of consumers’ rights, setting new standards for insurers, intermediaries and for the wider financial services industry that will go further than the existing mantra of treating customers fairly. Firms will have to put themselves in their customers’ shoes, with an emphasis on outcomes, in what could amount to a legally enforceable duty of care.

The goal of this session is to share the key takeaways from Ninety Consulting's recent workshop “Mastering Insurance Innovation Part 1: Ideation”. What delegates have said about it: "A fascinating session on ideation in insurance - but with definite applicability cross-sector as to how we can innovate effectively to solve customer (and stakeholder) pain points." - Director from Aetna. "It was a great session." - Innovation manager from Lloyd's Lab. "Timing is perfect. Excellent facilitation. Relevant. Group task runs for the right amount of time." - CTO from gig economy insurtech startup.