How innovation can empower more profitable underwriting

More than 250 senior executives and underwriters responsible for making strategic decisions within underwriting departments including investments in technology and innovation are set to attend  Underwriting Innovation Europe 2023, a two-day event, which will take place on June 6–7 in London.

New technologies and methods of distribution are disrupting the way underwriters operate in almost every line of business at an unprecedented rate. The many innovations taking place are helping underwriters make better decisions, but they are also going way beyond that, changing and evolving the very business model that carriers operate and, thus, what they expect of their underwriters.

As such, driving efficiency, reducing costs and meeting customer expectations through automation, analytics and data are top-of-mind for today’s underwriters. It goes beyond technology: underwriters need to adapt to the evolving distribution landscape and a world of emerging, intangible risks. That requires a new skillset, and a new mindset—a different type of underwriter.

The solution for underwriters is to embrace data, technology and innovation—and find ways to stay one step ahead of the competition. They increasingly understand that, to succeed, they must transform disruptors into enablers who support and add value to their own digitisation strategy. Those who fail will lose market share to insurtechs, managing general agents and those incumbents with the foresight to innovate with them.

That context gives speakers and delegates at this event much to discuss, from how to write tougher classes of business and mastering the integration of third-party data to how better to align broker interests and helping clients navigate the hard market. This event will inspire and inform underwriters, helping them make better strategic decisions.

To be held at the American Square Conference Centre, London, the event will explore the challenges re/insurers face in grappling with the challenges of the macroeconomic climate, increasing premiums yet reduced capacity, changing distribution models and fast-moving technology.

Attend Underwriting Innovation Europe as 40+ senior executives from RSA, Zurich, AXA, Generali, Aon, ERGO and Descartes examine the unique risks and opportunities underwriters must grapple with when making strategic decisions around underwriting, portfolio management, and how to best leverage technology and innovation.

Delegates will hear directly from 40+ CEOs and CUOs from some of the biggest European insurers, who will help map a pathway to how to innovate, underwrite risks profitability and achieve growth. The event will also explore new ways of understanding and managing different risks, and discuss how carriers can adjust and realign their underwriting appetite, as capacity is constrained, and price expectations continue to adjust in different lines of business.

Helen Raff, director–event portfolio, Intelligent Insurer, said: “It’s not a secret that the underwriting market is changing at a rapid pace. Technological advances are moving the space forward and underwriting executives are starting to recognise the necessary tools to avoid being left behind in a previously manual space.

“But despite these moves forward, significant and new challenges remain: new and complex risks are emerging throughout different lines, data issues continue to permeate the space, and macroeconomic factors are having a drastic impact on risk assessments and claims. Although technology is slowly being embraced, it’s difficult to keep up with the ever-changing technological landscape.

“How can underwriters harness the power of new technologies, adapt to emerging risks and implement new processes and solutions to keep pace with this changing landscape, stay competitive and become more efficient and profitable? These are just some of the questions our stellar line-up of speakers will answer at this event.”

Featuring more than 40 senior speakers and delivering two days of networking and thought-provoking content, the event will deliver a powerful combination of in-depth case studies, interactive roundtables and lively panel debates designed to deliver the strategic insight that insurance executives need to instigate and deliver innovation in this fast-evolving and complex space.

The speakers and panellists are all experienced insurance professionals with specific knowledge and hands-on expertise working on the front line of what is a rapidly changing landscape for underwriting departments grappling with many pressures but also looking to invest in technology and innovation to solve them.

Run by Intelligent Insurer, the leading digital hub for senior insurance executives, brokers and insurtechs, the event is free for insurers to attend and features leading industry figures as speakers including:

Delegates will benefit from:

The ground-breaking event is the latest in an ongoing series of events run by Intelligent Insurer with the aim of equipping industry players with the networks, insights and knowledge needed to progress their careers and drive the wider evolution of the re/insurance industry.

Insurers can sign up for the event free at:  Underwriting Innovation Europe 2023 

For further details, contact Helen Raff at  hraff@newtonmedia.co.uk

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