Instec held its inaugural client event for senior executives last week, featuring speakers on emerging trends and technologies driving change in the insurance market.
Karen Furtado, Partner at Strategy Meets Action, discusses the external forces that are reshaping the insurance
industry at Instec's inaugural Client Forum
Naperville, IL – June 27, 2018 – Instec, the market leader in insurance software for commercial program and specialty writers, held its inaugural Client Forum in Chicago last week. The event featured topics ranging from capital markets to the mindset of the entrepreneur.
The sessions opened with a discussion of alternative capital and its effects on the reinsurance market. Tom Collett, Managing Director at Guy Carpenter, explained how non-traditional capital sources have evolved from their beginnings in catastrophe bonds.
David Koscheski, Director of Industry Solutions at Microsoft, described the influence of emerging technologies in insurance. The discussion featured case studies highlighting artificial intelligence and chatbots, among others.
“At Instec we track developments in the capital and technology markets, because these twin forces dominate our industry,” said Kevin Mason, Executive Vice President at Instec. “As our opening, these two topics set the foundation for our event.”
The sessions continued with Karen Furtado, partner at Strategy Meets Action, describing seven fundamental forces reshaping insurance. Tom Caprel, founder of Breakthrough Results, and Tomer Yogev, founder of TandemSpring, followed with a session on start-ups and the mindset of the entrepreneur. Rounding out the event, Jason Pamplin, product manager for Instec Underwriting, described the changing role of the underwriter.
“We received glowing reviews for the event,” said Mason. “Our clients appreciated the opportunity to meet their peers from other companies, and hear from the market experts. We plan to build on our success with an even bigger and better event next year.”
Instec’s unique approach to systems for the insurance industry enables P&C carriers, MGAs and MGUs to launch programs and specialty offerings from start to first quote in as little as four weeks. With built-in bureau content and reusable business rules, Instec systems provide a platform for innovation with reduced risk. In addition, cloud-based deployment and subscription-based pricing enable insurers to test new programs at a low cost of entry and scale up affordably as the business grows. To learn more, visit www.instec-corp.com.
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