A Brief Interview With Christopher Frankland (Christopher will be participating in the 2019 Internet of Insurance Conference in Austin, TX: 9/17-18)

This is the third in a series of brief interviews with speakers, presenters, moderators or panelists at the Internet of Insurance Conference to be held The Line Hotel, in Austin, TX on September 17th & 18th, 2019. You can register for the event here: https://ioi-usa.internetofbusiness.com/

What is your name and what do you do?

Is the cyber threat for devices a major impediment to the implementation of this technology into insurance?

Is it a challenge? Absolutely. It will require a sound corporate cyber strategy that looks at all of the touchpoints across the insurance life-cycle where customer data is touched.

Ironically, we are in the risk-taking business but are afraid to take risk. How can companies in the insurance ecosystem get comfortable with internet-ready devices?

The reluctance to take on risk is often indicative of a larger cultural challenge. Dedicate energy to creating an environment where people can focus on innovation, creativity and Design Thinking strategies. Flip the question. What happens if you do not take on risk?

Risk will always be a factor, but a carefully aligned strategy around People, Process, Technology, Data & Culture will go a long way to alleviating some of that risk and instead promote internal growth & exploration.

 

What is a good first step for companies deciding whether or not to integrate Internet devices into their business model?

Take a look at your existing products, services and processes. Is there an opportunity to provide a richer Customer Experience?

What was the last time you had a process review through the eyes of the Customer? IoT, Intelligent Automation, Voice – there is a ton of opportunity out there to re-imagine existing workflows through the broader lens of Digital Transformation. I always encourage people to think about integration as being a delicate balance between how and where to leverage People and Technology. Think about where IoT can fit into that picture.

How do you envision the insurance market 10 years from now? Can you provide your fantastical vision of how all this technology might be used on a day-to-day basis?

Seamless. Frictionless. Integrated. I think we will see a gradual transition towards real-time, parametric driven Insurance Experience. Integration across multiple product lines (and verticals outside the traditional Insurance space) is a certainty. IoT and Blockchain will be absolutely pivotal in helping facilitate and orchestrate this shift. People will also still have a critical role to play, but the sphere of influence will be greater.

Can you describe your role in the 2019 Internet of Insurance Conference?

I will be moderating the keynote panel on the opening day – Prepare For Impact! I will also be chairing the Automotive Track over the two days and participating as one of the three judges in the Innovation Den where we will be hearing from some of the hottest and most innovative companies in the world of InsurTech.

What will attendees who attend your session learn?

All sorts! From AI to Blockchain – which technologies will have the greatest impact on insurers? Accelerating digital transformation – how can this be achieved? How can innovation be furthered in the industry? All questions critical to the evolution of the Insurance Experience.

About Nick Lamparelli

Nick Lamparelli is a 20+ year veteran of the insurance wars. He has a unique vantage point on the insurance industry. From selling home & auto insurance, helping companies with commercial insurance, to being an underwriter with an excess & surplus lines wholesaler to catastrophe modeling Nick has wide experience in the industry. Over past 10 years, Nick has been focused on the insurance analytics of natural catastrophes and big data. Nick serves as our Chief Evangelist.

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