An Agenda Built Around Four Core Pillars Of
Commercial Insurance Innovation
Day 01
Wednesday, June 3, 2020
Adapt to Changing Customer Needs: Support Clients to Achieve Resilience in an Evolving Risk Landscape
How can insurers support customers to achieve business resilience and continuity amidst changes to our climate, society, economy and industries?
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Assess the global risk landscape for businesses in 2020 onwards, and evaluate trends in the world of commerce that are impacting insurance e.g. globally distributed business models, new workplace technologies such as autonomous vehicles, industrial robotics, and sensor-based monitoring, and growing markets such as renewable energy and precision medicine
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Explore the new and evolving risks that are rising up the executive agenda e.g. supply chain, cyber, climate, technology, and reputation, and develop a roadmap for supporting customers to identify, quantify, and mitigate those risks to achieve business resilience and continuity
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Overcome price sensitivity and improve retention with new risk prevention services such as real-time monitoring, scenario planning, stress testing and simulations to drive higher levels of sophistication in risk management, and establish stronger, more elastic, and longer-lasting customer relationships by helping customers to better predict, rapidly contain, and reduce the overall impact of risk events
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Re–segment customers to develop more targeted, tailored, and personalised propositions, drive product innovation to meet requirements to cover intangible assets and/or temporary risks, and incorporate customer feedback and data to highlight areas of product development that will benefit the market