Digital insurance forum kicks off in Nairobi

The Digital Insurance Forum (DIF) will kick off in Nairobi beginning Thursday with the forum expected to attract speakers and delegates from leading insurance companies and intermediaries from East Africa, U.S.A, South Africa, Netherlands and other parts of Africa.

Themed Fostering Insurance Innovations through Available Data and Technologies, the two day  Regional Digital Insurance conference touted to be Africa’s largest insurance, tech and digital innovation conference that brings together digital innovators and insurance leaders from across the globe.

Following last year’s success, the 2019 conference promises to share deep insights on how insurance industry can expand its outreach in Kenya and the region using innovative techniques.

The conference will tackle topics that are critical to the growth of Kenya’s insurance industry such as: Emerging Technologies, Internet of things, Block-chain, Predictive Analytics, Telematics Innovation; Telemedicine Innovations in Kenya; Digital Intelligence in Micro-Insurance; Insurance Regulations that Support Innovations; and state of adaptation of technologies by  Kenya Insurance companies

The forum will also seek to target ares in, namely;

• Insurance companies and intermediaries looking at embracing digital technology and changing their business models to adopt to the new disruptions around data, technology and innovation
• Insuretech and Insurance intermediaries offering digital insurance platforms and solutions
• Chief Executive Officers,  Chief Operating Officers, Actuaries, Product Development Managers and Partnership Managers
• Providers and Suppliers of insurance companies who are now in the digital space and would wish to see transformation in the insurance space for their advancement
• Associations and regulatory bodies for insurance companies and insurance intermediaries to help fast track innovation in the insurance sector
• Technology companies, Innovators and Fintech enthusiasts.

As technology innovation, higher customer expectations and disruptive newcomers redefine the marketplace, insurers remain focused on growing top-line sales, bottom-line profitability, addressing challenges, and competing in a dynamic industry.

An industry report by Deloitte 2018 Insurance Industry Outlook pinpointed key opportunities and threats that should demand attention from insurers over the coming years.

“Insurance company leaders have a lot on their plates. Political and regulatory upheavals around the world are changing some of the ground rules about how carriers may operate.

An accelerating evolution in the way business is conducted is being driven by innovation and higher customer expectations, while disruptive newcomers are looking to take market share from incumbent insurers. In particular, carriers have been racing to keep up with insurance technology development, as we recently documented in Fintech by the numbers, which analyzes startup financing activity and trends,” reads the report in part.