INSURTECH / INSURANCE 2.0: COMPETING & COLLABORATING IN A DIGITALLY CONNECTED INDUSTRY

Bill payments for property and casualty insurance are among the most critical that consumers make. Continuous coverage depends on current policyholder accounts that are fueled by on-time payments.How do policyholders typically fund their P&C Insurance payments? Do they prefer repeating transactions like AutoPay or single One Time payments? What are the payment channels they gravitate toward? And when are they most like to pay their P&C Insurance bills?

One way to manage the cost of environmental claims associated with historical operations is to pursue coverage under historical (and often pre-pollution exclusion) occurrence-based commercial general liability insurance policies. Our panelists will discuss the nuances and pitfalls that can arise in environmental insurance litigation and creative strategies to maximize recovery. In addition, companies facing environmental risks in their current operations or transactions can also manage environmental risk through a variety of current insurance products. Our panelists will identify current options available to manage environmental risks going forward and provide insight into the costs and benefits of those insurance products.

As cyber threats evolve the way insurers evaluate risks and the coverages offered are also developing. In this session, Steve Whelan of Verisk, along with guest speakers Danny Arnett of AIR and Annamaria Landaverde of Munich Re, will address emerging cyber threats, trends in cyber insurance coverage, and solutions for evaluating cyber risks.

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.