IDC Financial Insights Insurance Roundtable 2011

The IDC Financial Insights Insurance Roundtable series is organized as a high-level peer discussion for senior insurance practitioners and is designed to disseminate evolving regional and global best practices relevant to local insurers.

2011 and Beyond: Impact of Disruptive Trends on Insurance

The 2011 Series seeks to impart our views on rapidly emerging “disruptive trends” generated from maturing technologies, changing consumer behavior and volatile economic conditions. Indeed, the financial services revolution after the global financial crisis has set the institutions on a course to re-think their business models, transform their operations and ultimately, revolutionize their industries as they know it.

Discussions at the Insurance Roundtable will focus on key disruptive trends identified by IDC Financial Insights as relevant to the regional insurance sector in 2011 and beyond, and the ramifications these have on insurers. Suggested topics for discussion include:

• Analytics in the Era of Big Data - The data that an organization is able to capture have expanded in both form and quantity. At the same time, insurers' capabilities to collect, store, manage and analyze data have improved dramatically. How does one make sense of all the "data noise"? How are insurers identifying business opportunities through analytical applications?
• The Reemergence of Customer Centricity - To achieve greater customer centricity, insurers are seeking "true" relationship management. Progressive insurers are investing to deliver on that customer experience, leveraging on CRM applications to enhance customer loyalty, stickiness, and capture a fatter share of policyholders’ wallet. How successful have insurers been in their drive towards customer centricity?
• The Embrace of a Multi-channel Delivery Model - As policyholders increasingly demand interaction via several customer touch points, insurers have had to look beyond traditional distribution channels like agents and bancassurance. What inroads have insurers achieved in online and mobile insurance? Some have begun introducing insurance Apps on mobile phones - will this result in an AppWar? Meanwhile, banks are already exploring the viability of Web 2.0 (online communities, blogs, wikis, social networking) - are such initiatives catching on with progressive insurers?
• Cloud Computing and other Alternative IT Consumption Models - Cloud computing presents an opportunity for institutions to acquire and pay for technology capabilities on a pay-as-you-use, use-as-you-please basis. Is this just for our cousins - the bankers, or is cloud catching on in the new era of insurance? How would cloud and other such alternative IT consumption modeals impact traditional technology procurement practices?
• End of Risk Management-as-Usual - Will the new liquidity and capital frameworks be a disruption to business? How will the implementation of regulations like Solvency II impact insurers in Asian markets?

• User-driven Technology Shop - Gone are the days when the IT department dictates technology decision-making. Senior executives are more aware of technology, and ever more vocal of their concerns and requirements. How should technology and operation leaders increase their visibility, while at the same time ensuring technology innovation and operational efficiencies?

Like in the previous years, the Insurance Roundtable will provide essential guidance to insurance practitioners on the strategic imperatives that their peers are prioritizing moving forward. This year’s focus will be on the best practices in optimizing technology and operational efficiencies to capitalize on the above-mentioned “disruptive trends.”

Highlights

• Complimentary and exclusively by invitation for senior insurance practitioners only
• Closed door sessions covering high level issues faced by business and technology decision-makers
• Number of attendees limited to 15 for optimum interaction and exchange of views
• The discussion agenda is set in consultation with you, the delegate, prior to the event so as to engender a strong sense of ownership and interest by all attendees
• An informal setting to encourage candid discussions and facilitate business opportunities
• Research-based findings and discussions from senior analysts of IDC Financial Insights
• A Proceedings Report containing the summary of the discussions will be sent to all participants following the Roundtable