InsurTechNZ June Meetup: Customers and Data

Georgia Taylor
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FinTech, InsurTech

FinTechNZ’s InsurTech Working Group is pleased to report we are now formally called InsurTechNZ, and are a founding member of the Global InsurTech Alliance (GITA).

Jason Roberts, FinTech and InsurTech Specialist, discusses the June InsurTechNZ Meetup:

It was tremendous to have over 70 attendees at the June InsurTechNZ Meetup, kindly hosted by Bell Gully.

This month’s topic was Customers and Data, with a focus on how insurance companies need to, and will be, approaching customer engagement; particularly timely given the spotlight on data privacy both here and overseas.

Ian Cormack from IAG set the foundation for the meeting, in particular focusing on ensuring that customer data being is used responsibly, that insurers are transparent, are trustworthy and always relevant to their customers.

It was tremendous to have Daniel O’Grady, Principal Policy Advisor at MBIE, give us his perspective on Contract Law review, outline MBEI’s engagement with the sector, and explore updates to insurance law, noting consumer expectations and the implications for future government policy and regulation.

Milutin Rmandic from Solnet Solutions spoke about Hyper-Personalisation and the importance of targeted, meaningful use of data for customer communications. This also ties in to service anticipation and provisioning, with the importance of using data to demonstrate to your customer that you understand them and will share value at each engagement.

The final presentation was by Josh Comrie from Ambit, who discussed the fascinating implications for the future of customer engagement, with the increasing use of AI and robotics in business. In particular, the benefits of digital engagement through the likes of chat bots and digital assistants who are ‘always on, always ‘on brand’, can deal with volume, be personalised and offer an excellent experience for day-to-day transactional engagements across multiple communication mediums.

I make a prediction. In five years, we will see at least 50% fewer human-to-human call centre engagements than now! (and that’s being really conservative)

The main presentations were followed by great discussions during the interactive break-out sessions, which were facilitated by the FinTechNZ and InsurTechNZ teams.

Put a note in your diary on July 4th for our next event on Cyber Insurance, to be hosted by Marsh in association with Delta Insurance Group.

For InsurTechNZ member and organisation inquiries, please contact InsurTechNZ or FinTechNZ.

Jason Roberts, Chair, InsurTechNZ