2018 ITA LIVE
- Welcome and Keynote Address
- 2018 ITA Bridge Awards
- The Independent Agent Model in the Age of Millennials
- Start Small & Be Fearless: Realizing Insurance Transformation
- Building Connection with Digital Customers
- InsurTech to the Rescue? Miracle Cure or Plain Old Placebo?
- The Business of Transformation
- Business and IT Collaborate on Digital First Enterprise Vision
- AI and Machine Learning, A Brave New World For Insurers
- Creating and profiting from a culture of technological innovation: Others have done it, why not Insurers?
- The True Cost Distracted Driving Behavior is Costing Your Business – Leveraging Telematics Data for Most Accurate Pricing
- The Experience is the Product, and the Product is the Technology: Emerging Tech and Customer Experience in Insurance.
- Rethink Culture: Using Emotional Intelligence, Authenticity, and Transparency to Create Your Tribe
Welcome and Keynote Address
As the 8th person in the world to complete the “Adventure Grand Slam,” which consists of climbing to the highest peak on each of the seven continents, and reaching the North and South Poles, it seems safe to say that Dr. Randall Peeters knows a thing or two about “Setting a Personal Vision.”
At ITA LIVE this year, Peeters will talk about the importance of developing and sustaining a personal vision during the event’s kick-off keynote on April 22 at the Marriott Harbor Beach in Ft. Lauderdale, Florida. His experience with personal vision and achieving goals comes from earning his Ph.D. and M.S. degrees from the University of Washington in Aeronautics and Astronautics, and his B.S. degree in Aerospace Engineering from the California State Polytechnic University, while simultaneously becoming a competent skydiver, BASE jumper, skier, climber, scuba diver, free diver, whitewater rafter, kayaker and surfer.
Peeters is the author of the bestseller “Journeys to the Edge,” in which he shares his successes and failures and gives readers some directly applicable guidelines on how to create a vision for living life to the fullest. He has held the positions of chief scientist and vice president of engineering for a wide range of companies from major aerospace corporations to start-ups, including managing groups as large as 1050 technical employees. And, he has a blend of technical expertise and outdoor achievements which have led to great demand for his inspirational speaking engagements throughout the USA and Canada.
Peeters’ ability to help individuals identify and articulate vision statements will have a positive impact on the way this year’s ITA LIVE audience approaches work and insurance, as well as personal lives and relationships.
2018 ITA Bridge Awards
The recipient of this year’s ITA Bridge Award will explain how their company has been able to improve connectivity between the business side and the IT operation to propel them into new and better business processes.Back to top
The Independent Agent Model in the Age of Millennials
- Speakers:Alex Farrell, Union Mutual of Vermont Companies
The rapid changes in InsurTech have created a new set of challenges for companies that rely on the Independent Agent model. In particular, the ability to compete with direct writers to sell to Millennials will make or break the Independent Agent model. The value-add proposition of Independent Agents needs to be reframed to attract this new generation, while simultaneously leveraging advances in InsurTech. In order to achieve that, it isn’t enough for carriers invest in their own management systems, they must supply agents with resources that will enable them to compete in this new marketplace. These resources will include data, technological guidance, capital to invest in improvements to the agency’s management systems, and much more. This renewed focus on technology brings with it a necessary shift in the culture of all parts of the distribution channel upon which the survival of the Independent Agent model hinges.Back to top
Start Small & Be Fearless: Realizing Insurance Transformation
- Speakers:Sean Kennedy, Globant
A leading driver of Digital Transformation in the Insurance industry is a focus on Customer Experience. Working from the Outside-In makes CX is a great place to start, but to complete a successful transformation you must develop a fearless commitment to transforming the processes, systems, and organizational culture through which that experience is delivered. Learn how Globant has been helping insurers begin and execute digital transformations, and develop cultures of repeated innovation on the way.Back to top
Building Connection with Digital Customers
- Speakers:Judy DeLaRosa, Strategy Meets ActionKaren Furtado, Strategy Meets Action
Thanks to today’s digital capabilities, insurers have new ways to connect with prospects and service their policyholders. Significant improvement is possible in how insurers handle customers and the relationship – if they can avoid paving the cowpath of the pre-digital customer journey. This session will focus on the customer journey in the digital world and how insurers are capitalizing on digital engagement to provide superior buying and service experiences.Back to top
InsurTech to the Rescue? Miracle Cure or Plain Old Placebo?
- Speakers:Jennifer Overhulse, St. Nick Media ServicesBill Hartnett, Hartnett Advisors
The Business of Transformation
- Speakers:Donn Vucovich, MVP Advisory Group, LLCBertrand Spunberg, Hiscox Inc
The session will provide real-world insights on the up-front effort required to define the core transformation effort from the business viewpoint. This discussion will focus on the importance of understanding the impacts and challenges that a multi-year program will face. The speakers will share how they marshalled the support necessary to drive various value-streams across the entire enterprise and the lessons learned from the organization, as well as the risks that are being constantly reviewed and mitigated.Back to top
Business and IT Collaborate on Digital First Enterprise Vision
- Speakers:Kyle Swearingen, Funeral Directors LifeCharles Hanna, Hyland Software
This session focuses on how business and IT leaders at Funeral Directors Life Insurance Company executed on their digital first enterprise vision. With support from C-level executives within the organization, IT leaders and LOB owners worked in tandem to transform the business, reduce IT costs and eliminate the need to hire additional Operations and IT personnel by automating claims, new business, customer service, marketing and mailroom processes.Back to top
AI and Machine Learning, A Brave New World For Insurers
- Speakers:Andre Nieuwendam, Nieuwendam and Company
Millennials and Social Media platforms, coupled with an onslaught of smart devices, telematics and mobile apps to control them have caused Artificial intelligence to disrupt existing analytical models and methods within the insurance industry, especially pertaining to underwriting, customer service, claims, and actuarial science. Big & Unstructured Data is being consumed in large quantities by companies that lack a strategy and a vision of where or how to start using it in a fashion that is meaningful for actuaries, claims professionals and even more importantly, in guiding underwriting decisions.
In this session, we will:
- Demystify all of the underlying terminology and what it means
- Discuss How AI is being used in the Auto, P&C and Life and Annuities Space to Gain Market Share
- Discuss Methods & Tools for Collecting and Storing the Vast Amounts of Unstructured Data That Are Proving To Be Increasingly Valuable in Identifying Consumer Behavior and Insurance Trends
- Provide Strategic Insights for Insurance Leaders on Making The Most Of AI to Create Effective Underwriting, Claims, Marketing and Actuarial Decisions
- Leveraging the Growing Service Oriented Applications to Gain Valuable Insights From Third Party Interactions with Their Consumers
- Underwriting and Actuarial Trends in AI
Creating and profiting from a culture of technological innovation: Others have done it, why not Insurers?
- Speakers:Chandran Iyer, Goldberg Segalla
Insurers have traditionally been resistant to adopting and implementing the latest technologies, especially those technologies that would impact core insurance operations. While this internal resistance continues, three market realities have emerged:
1.Current and prospective insurance customers have steadily adopted these new technologies and evolved their business models accordingly.
2.These tech savvy customers are increasingly requiring that their carriers not only service their unique technological risk needs, but also transact with them digitally.
3. New entrants (e.g. insuretechs and other technology organizations) are more aggressively addressing these unmet market demands and competing for the customer’s “share of wallet.”
As this technology divide between carriers and customers continues to widen, innovative carriers, in general, and innovative IT leaders, in particular, are uniquely positioned to drive positive change. Addressing this opportunity will require IT leaders to take on non-traditional roles including, but not limited to:
• Marketing / Business Development: Identify and vet technology prospects; provide value added technology services to current and prospective customers; Decide how to protect and monetize the investment in technology;
• Underwriting / Product Development: Assess technology risks; identify and develop tech specific coverages; explain to the company’s management the profitability that can be achieved by adopting new technologies;
• Claims: Clarify liability based on actual technical capabilities; champion internal technologies that reduce the frequency and severity of tech-enabled claims;
• Operations: build and/or evolve digital ecosystems between customers, agent/brokers and other service providers.
Our presentation will discuss:
• Emerging technologies (all types) from an IP leader's perspective (Where are investments going? What's happening on the patent front? What's being litigated?)
• Actual and emerging examples of these new roles and services in the industry;
• Practical steps to transition to these new roles and service offerings;
• Non-insurance examples of organizations that have successfully transformed and bridged this technology divide between themselves and their customers.Back to top
The True Cost Distracted Driving Behavior is Costing Your Business – Leveraging Telematics Data for Most Accurate Pricing
- Speakers:Gina Minick, Arity
Still relying on traditional rating variables such as credit variables and general demographic data? You can do better – you need to do better. The insurance industry is on the brink of disruption and to succeed, insurers must find new ways to measure risk and engage drivers. How? Start measuring driving behavior data.
This session will share the latest findings on the impact phone use has on distracted driving, risk and how nudging self-awareness can be utilized to improve engagement and safety – and your bottom line. After this session you will understand:
- What true risk a driver presents on the road
- How to use driving insights to provide more accurate insurance pricing
The Experience is the Product, and the Product is the Technology: Emerging Tech and Customer Experience in Insurance.
- Speakers:Chuck Gomez, Novarica
Insurers focus heavily on pricing and risk management, but for most insureds, the product is really the experience: the process of buying, the feeling of being covered, the care shown during the claims process. Truly Customer-Centric insurers are focusing their enterprise and emerging technology strategies on creating customer experiences that support retention and reduce price-based churn.Back to top
Rethink Culture: Using Emotional Intelligence, Authenticity, and Transparency to Create Your Tribe
- Speakers:Marissa Buckley, Security First InsuranceBenjamin Bomhoff, Security First Insurance
Technology continues to move faster than we can keep up. That's been the experience (and challenge) for everyone over the last few years and especially true for our industry as disruption continues to emerge in every area of our business. We've all made changes to evolve and keep moving forward, but has your organization stopped to re-connect with the corporate DNA that's undoubtedly evolved as a result of operating in an industry that looks far different than it did just six months ago? Technology and user expectations are not only driving our business, it's changing who we are. Hear a story of how a company with the invaluable direction and support from its strategic partners transitioned from one-off innovations to redefining the lifeblood of the organization.Back to top
what is ita
ITA Mission Statement
The goal of the Insurance Technology Association is to provide members with opportunities to collaborate, educate, network, share, and use knowledge related to insurance technology. The ITA serves the insurance technology community as a resource and is dedicated to serving this specialized sector of the industry. Publications and educational programs created by the ITA are geared to professionals interested in or charged with evaluating, implementing, and marketing insurance-specific technology systems or services.
The current issue of ITA Pro Magazine is October, 2017. The cover story, “Cross the Line,” features John Kessler, chief strategy officer for Motorists Insurance Group, as he explains how Motorists has shifted much of its attention to the commercial lines side of the market. Another feature, “The Spiraling of Insurtech,” looks at how investor groups have led the charge in bringing carriers and insurtechs together. The third feature, Think Differently,” examines how claims centers have become laboratories for insurance carriers and new technology In addition you will find features such as:
- George Grieve's column on the implementation of third-party software, and how carriers need to know their job and not expect others to pick up the slack.
- Karen Furtado’s Innovation Corner column is on SMA’s 10th anniversary and how they will pass along some predictions for the next decade in insurance and technology
- In Newsmakers, Rod Travers tells why he left the consulting world for the top spot in the insurance industry’s largest association.
online ita buyers' guide
Information on the ITA Pro Buyers' Guide, and how vendors can be a part of it
For more information, contact Jim Daggett at firstname.lastname@example.org