In this episode of AM BestTV from the Insurance Society of Philadelphia’s annual Philly I-Day conference, industry leaders discuss the fear of missing out on the next Apple or Amazon when it comes to investments in technology. Click on http://www.ambest.com/v.asp?v=phillywrap419 to view the entire program.
There is a big fear of missing out. That is a large reason why companies are investing in insurtech right now, said Mark Purowitz, senior partner, Deloitte Consulting.
Echoing Purowitz, Jonathan Kalman, founding general partner, Eos Venture Partners said, Definitely, there should be concern that if insurers are not being attentive to innovation and the use of technology to transform the business, they will be missing out. They should have a fear and a general level of anxiety. The fact of the matter is there is an incredible opportunity for savvy insurers to harness technology to grow premium and to reduce expenses.
Other executives that appear in this episode:
- Inaki Berenguer, chief executive officer and founder, Cover Wallet;
- Christopher Hampshire, vice president, Gallagher Bassett Services; and
- Michael Elliott, senior director of knowledge resources, The Institutes.
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