The crème de la crème of insurance and insurtech industry gathered today for the Insurance Innovators Summit 2019 – a two day event which gathers the very best of the insurance industry from across the globe to challenge the traditional world of insurance. With 4 stages of content, over 120 speakers and 800+ attendees the potential to learn, boost business and make meaningful contacts is huge.

We were delighted to see our very own CEO Janthana Kaenprakhamroy take the stage at Leaders’ Forum alongside Simon Burtwell, UK Insurance Advisory Leader at EY, Hassan El Shabrawishi, Chief Executive Officer of Africa Holding, AXA and Yannis Korgialos, European Commercial Director at Munich Re Digital Partners. And yes, you guessed it right – she was the only female on the panel.

The session covered areas such as the importance of change, value of partnerships, trends for 2020, current insurtech landscape but most importantly innovation and how this is closely related and depends on the internal culture of an organisation and how fast it can change. As Janthana stated “Innovation depends on an organisational culture. A change needs to happen before it [an organisation] can move forward with innovation.”

Although the industry indeed is transforming, albeit at a slow pace, the majority of traditional insurers are still struggling to recognise the value that insurtechs can add to their businesses. However, it was encouraging to hear from Simon Burtwell, UK Insurance Advisory Leader at EY that “the value of partnerships is in what you [traditional insurers] can learn from insurtechs”, while Hassan El Shabrawishi, Chief Executive Officer of Africa Holding, AXA, rightly pointed out that “it is not about who is going to survive and exist…traditional insurers and insurtechs can co-exist for the benefit of the customer.”

Partnerships and collaborations sit at the heart of how we work here at Tapoly. While we welcome competition, we believe the industry could benefit and achieve so much more from working together towards a common goal and this is where the importance of building an ecosystem comes in. As Simon Burtwell highlighted “the end goal is to help our customers live a less risky life.”  We agree that this is something that ties in well with our commitment – to make insurance more accessible and affordable to everyone, so that more of us can live a less risky life.

To find out how we can help you live a less risky life, grow your business and prosper see our full list of products and give us a try.