This morning I attended a TechUK seminar “Insurance and the Internet of Things”.
There were some good speakers who raised quite a few points which I hadn’t heard or thought of until today. Clearly there are some leaders in the space, who are not insurers and are gearing up for a battle for new types of insurance products.
Earlier this week I was on a panel at the ITC (Insurance Technology Congress) 2015 event. My panel was dealing specifically with Internet of Things in the insurance industry.
The event was aimed at CIOs of large, mainly commercial insurance companies. The CTO and CIOs in the room spend their time and budget keeping the lights on – i.e. keeping their systems in tip-top shape.
These CIOs and CTOs are rightly proud of their systems’ stability and availability, and until now innovation is a distant second priority. However, new technologies and technology companies are entering the market, and this conference was a joining of minds to create a plan for the future.
In October I’m giving a keynote speech at an insurance event and I’ve been asked to speak about new technologies and trends. Separately, one of the readers of this site, Doug, recently emailed me asking whether I had “any insight into the insurance sector, and company’s use of Internet of Things technologies?”
Here are some thoughts which I’ve been thinking about for a while.