Description: In today’s marketplace, consumers are driven by research, reviews and ease-of-use more than before. They want to be empowered in their buying decisions and are turning their backs on insurance agents as the source of information for their buying decisions. The direct-to-consumer (D2C) platform addresses the expectations of the modern consumer and provides an opportunity for insurers to automate and execute underwriting in real time with better results than has been seen with traditional processes—and at significantly lower costs. D2C not only helps insurers by improving processes, reducing costs and maximize sales; it can also be used to provide a range of services through an online platform to increase customer engagement. Driven by the need to remain competitive and against the threat of new entrants, insurers foresee extensive use of direct-to-consumer channels as an alternative distribution method. However, to remain competitive they must throw away their outdated thinking and become future-oriented in the acquisition of customers. This starts with understanding D2C models in the insurance industry.

Description: "The presenters will discuss the impact of innovation and insurtech to insurance through the use of case studies and practical examples. At the conclusion of the session, attendees will be able to develop insights into practical ways to leverage innovation to transform insurance, and the threats and hurdles that innovators face. "