In just a few months, we will be delighted to welcome you to the 44th Annual Insurance Conference themed DISRUPT – DEBATE - DELIVER hosted by FIA, IISA and SAIA in Sun City from the 23 – 26 July 2017.
At the 2016 conference a plethora of ideas were discussed and presentations initiated meaningful conversations with regard to providing important leadership in companies, the importance of genuine partnerships between government and the financial services industry, and the ever important exhibitors providing opportunities to display new products to assist in enhancing service delivery.
The 3-day conference fosters collaboration through networking whether it is attending the Welcome cocktail party, Theme dinner or Gala Dinner or a game of golf. We will ensure like-minded people will be in attendance to allow for marketing of products and services and sharing ideas.
We have persevered through a heightened disruption period in the past with regard to natural and environmental disasters, change in human behaviour as well as a massive shift in the way we now conduct business. The insurance industry needs to assess the inefficiencies of their footprint, draw on their resources, debate and solve problems and, most importantly, deliver something of value.
Digital technology is disrupting the industry, remaining flexible and connected makes all the difference. Is your company ready to meet the changes digital transformation is causing? Many insurers are feeling the threat of the digital revolution and assessing the potential of effecting general insurance in the years ahead.
Everything from self-driving cars, big data, and sharing economy platforms have tremendous potential to disrupt the industry, and we're seeing the growing pains manifest already. New technologies such as Uber and Airbnb leave many buyers and sellers in the unknown without much precedence regarding insurance coverage. Users of these services are often left in dangerous territory when it comes to possible coverage gaps. Further, alongside the sharing economy platforms comes a new wave of technologies that need to be integrated into insurance policies like who is to blame for an accident involving self-driving cars? Furthermore, with the rising costs of insurance, average consumers are increasingly demanding change or an alternative to the current system. Shortly, we will see new players come in to fill insurance coverage gaps, help consumers gain power, and provide innovative insurance products driven by technology.
The millennial generation appreciates the do-it-yourself approach to dealing with insurance companies and thus, mobile technology continues to grow in dominance in all arenas, including personal finance and insurance.
It has been reported that total global economic losses from disaster events during the first six months of 2016 rose 38 percent to $71 billion, as compared with the same period in 2015. What will the future cost of reinsurance be?