ITIC UK: The power of data

Liam Gray, Head of Research & Partner Management at Startupbootcamp InsurTech; Hannah Jones, Head of Business Development for Claims Rated; Billy Warner, Senior Underwriter of Travel Insurance at Collinson Group; and Dan Hyde, Partner at Penningtons Manches

Following a networking lunch break, the afternoon sessions of ITIC UK were based on the theme of ‘the power of data’. Liam Gray from Startupbootcamp InsurTech kicked proceedings off with a presentation that focused on the changes that are occurring in the insurance industry thanks to the infl uence of accelerator companies. By bringing together insurers and technology fi rms, he said, a startup ecosystem is developing that will foster change and innovation. Hannah Jones from Claims Rated discussed how insurers could use data to change the perception that the general public has about the industry. Through obtaining and publishing real customer reviews, she said, potential clients could make use of this data to make informed decisions about the policy they want and be sure of the services they will receive. “Let the claimants educate the customers,” Hannah concluded. Billy Warner was next to take to the stage,

and gave attendees insights into how they can use anonymised, travel-specifi c data to create customer personas that can aid the personalisation of products. Using enhanced data, said Billy, enables insurance providers to create an ‘insurance ecosystem’, which should result in benefi ts for customers, providers and clients. To round off the afternoon, Dan Hyde, Partner at Penningtons Manches and author of Cyber Security: Law and Practice, discussed the (then) upcoming General Data Protection Regulation, giving details of what it means for insurers holding customer data, and what the repercussions could be for those found to be contravening the new regulation. There was a discussion afterwards that centred on how the regulation would be enforced for international fi rms, with Dan concluding that there will undoubtedly be test cases brought before courts that will determine more clearly how the regulation will be applied.

NETWORKING

ITIC provides unrivalled networking for those in the global travel and health insurance marketplace, and ITIC UK in Bristol was no exception. From the very start of the event, at pre-conference registration – where drinks were provided by New Frontier Group; through the much-welcomed coffee breaks during the conference – brought to attendees by Aquarium; to the Farewell Dinner – the likes of which no ITIC conference has ever seen before, new business connections were forged and existing relations cemented.

The ITIC UK Farewell Dinner took place in the beautiful Bristol Harbour Hotel and was thoroughly enjoyed by all who attended. The evening was punctuated by ongoing entertainment provided by the Faulty Towers Dining Experience, which involved a great deal of audience interaction – thanks should go in particular to Julie Remmington and Chris Price for their contributions – and concluded in a standing ovation from attendees, who were in agreement that it was the best ITIC UK Farewell Dinner ever!