27 – 30 October 2019, Toronto
I am pleased and excited that Toronto is hosting the 2019 SOA Annual Meeting – the largest annual actuarial conference in the world. Please stop by the RiskDX booth in the main exhibit area, and the session on “Innovation in Life and Health Insurance” with presenters Nathalie Gray (Cover), Blake Hill (Dacadoo), André Piché (PartnerRe) and Kevin Pledge (Acceptiv).
Session 167: Innovation in Life and Health Insurance (30 October)
Innovation has become a buzz word for insurers in recent years, with boards demanding more innovation and a trend to establish innovation teams and chief innovation officers. But what have they achieved? In life and health insurance, innovation is occurring in four main areas:
- Customer acquisition (finding and educating customers)
- Pricing (making products cheaper, different risk models)
- Distribution (making it easier to buy)
- Engagement (retaining and building a relationship with customers)
Some companies are now emerging as innovation leaders, some are seeing some success in isolated areas, and some others are still concerned about upsetting the status quo. The presenters will discuss developments in this area and how innovation can be integrated into an overall strategy.
