The insurance sector is experiencing transformative change. The CIO Africa InsureTech Forum is at the forefront, bringing together the brightest minds in insurance and technology to pave the way for the future of the industry in Africa. This event is a critical convergence for professionals, leaders, and innovators in the insurance sector, offering an unparalleled opportunity to be at the leading edge of digital transformation trends and innovations.
Insuretech Reformation: Reimagining Insurance for a Secure Tomorrow
Topics & Themes
Digital insurance is the computerization of traditional insurance services. Digital insurance means digitizing all the insurance operations and replacing the insurance’s physical presence with an online presence, abolishing a consumer’s need to visit a branch. This year's forum will cover a broad spectrum of pertinent topics, including but not limited to:
Priorities for Insurance Leaders
Leveraging Technology for Risk Reduction
Developing Personalised Services for Customers
Insurance Fraud and Security
Rethinking Health and Life Insurance
The Rise of Embedded Insurance
Target Audience
The forum is tailored for a diverse audience, including:
- Chief Executive Officers (CEOs)Chief Executive Officers (CEOs)
- Chief Information Officers (CIOs)Chief Information Officers (CIOs)
- Chief Financial Officers (CFOs)Chief Financial Officers (CFOs)
- Chief Operations Officers (COOs)Chief Operations Officers (COOs)
- Chief Risk Officers (CROs)Chief Risk Officers (CROs)
- Chief Compliance Officers (CCOs)Chief Compliance Officers (CCOs)
- Chief Underwriting Officers (CUOs)Chief Underwriting Officers (CUOs)
Agenda
8:00 AM - 9:00 AM
Registration and Networking Breakfast
9:00 AM - 9:10 AM
Welcome Address and Keynote Introduction
9:10 AM - 9:40 AM
Keynote
From Risk to Resilience: Shaping a New Era of African Insurance
Mobile money, big data, and AI are transforming how insurance is accessed and delivered. This, along with innovative products like microinsurance and parametric insurance, is paving the way for a more secure continent by bringing financial security and risk mitigation to millions. However, challenges like low awareness and limited infrastructure remain.
9:40 AM - 10:00 AM
Static to Strategic: Weighing Customer Data for Personalised Experiences
There is a new reality to contend with: customers are tech-savvy and expect a personalised experience. Gone are the days of static, one-size-fits-all policies. The key to staying competitive lies in data. By using analytics, insurers can gain a deep understanding of customer preferences and behaviours, allowing them to create a seamless omnichannel experience across mobile apps, social media, and other touchpoints. Personalised content, targeted offers, and even gamified experiences become possible, all for fostering customer engagement and loyalty.
10:00 AM - 10:30 AM
Panel Discussion
Beyond the Crystal Ball: How Big Data Is Predicting and Preventing Risk
The future of insurance is being written in data. By analysing vast sets of information, insurers can identify patterns, assess vulnerabilities, and develop targeted risk mitigation strategies. This newfound foresight allows them to tailor insurance products to specific needs, offer competitive rates to low-risk customers, and even prevent accidents before they happen. Imagine a world where car insurance premiums are based on your driving habits, not just your age, or where farmers receive early warnings of potential droughts to protect their crops.
10:30 AM - 10:50 AM
Beyond Firewalls: The Expanding Role of Cybersecurity
With great opportunity comes great responsibility. As mobile apps, data analytics, and online services become the norm, a new frontier emerges - cybersecurity. Beyond firewalls, a robust cybersecurity strategy is no longer optional, it's essential. It isn't just about protecting data from hackers; it's about building trust with one’s customers, ensuring the integrity of the entire insurance ecosystem, and nurturing a secure environment for innovation. Embracing advanced cybersecurity solutions allows insurers to unlock the full potential of the digital age.
10:50 AM - 11:10 AM
From Reactive to Proactive - Can We Prevent Losses Before They Happen?
Traditionally acting as a safety net after misfortune strikes, insurers are now called upon to be proactive guardians against a growing wave of threats. Increased cybercrime, climate change, and political instability are placing a strain on this safety net. To stay ahead of the curve, insurers need to move beyond simply reacting to claims. Proactive measures like robust cybersecurity, fraud detection, and risk mitigation strategies are becoming paramount.
11:10 AM - 11:30 AM
Coffee Break
11:30 AM - 11:45 AM
Case Study Presentation 1: Implementing AI in Claims Processing - A Success Story
11:45 AM - 12:00 PM
Case Study Presentation 2: Blockchain
12:00 PM - 12:15 PM
Case Study Presentation 3: Robotics
12:15 PM - 12:45 PM
Fireside Chat
Leapfrogging the Labyrinth: Innovating Despite Regulatory Challenges
The path to success isn't always straightforward. Regulations, often designed for conventional insurance models, can create a complex maze for new ventures. However, InsureTech companies are demonstrating remarkable agility by finding creative solutions and navigating the regulatory landscape with a determined spirit. But how can one work collaboratively with regulators.
12:45 PM - 2:00 PM
Lunch Break
2:00 PM - 2:20 PM
The Revolution: From Legacy Systems to Cutting-Edge Solutions
Cumbersome legacy systems, once the norm, are being replaced by cutting-edge solutions. This shift is driven by digital transformation technologies with these advancements streamlining processes, enabling more accurate risk assessments, and even paving the way for personalised insurance products.
2:20 PM - 2:50 PM
Panel Discussion
The $45 Billion Opportunity: How Insurers Can Leverage AI
The continent’s insurance industry is poised for a massive transformation driven by Artificial Intelligence (AI). A projected $45.74 billion market size by 2031 signifies the immense potential in this sector. For insurers, this translates to a golden opportunity. By embracing AI, the industry frees up human resources from repetitive tasks, allowing them to focus on more complex issues. Additionally, AI can personalise services, optimise customer interactions, and even identify emerging risks. This not only improves efficiency but also opens doors to entirely new revenue streams.
2:50 PM - 3:50 PM
Start-Up Showcase
Pitch session featuring innovative African InsureTech start-ups
3:50 PM - 4:10 PM
Keynote
Bridging the Protection Divide: Tailoring Solutions for Uninsured Millions
Millions across Africa lack access to essential insurance products, leaving them vulnerable to financial shocks. To close this protection gap, a new approach is needed. Inclusive strategies must move beyond traditional models. This could involve products designed for low-income earners, easier premium payments, or even utilising innovative technologies like remote sensing to assess agricultural risks. Creating a wider range of accessible and affordable insurance options makes security a reality.
4:10 PM - 4:20 PM
Summary of the Day, Vote of Thanks and Future Events
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