Insurtech: The next global success story for the UK?
We had a full house at our first official Insurtech UK Breakfast Briefing and enjoyed some hugely insightful panel discussions. It is really encouraging to see so much enthusiasm about the UK insurtech market, and there is a real drive from our members and partners to use insurtech to improve the insurance industry and make it more consumer friendly and focused. There is no doubt of the determination and talent that there is to make insurtech a global success story for the UK!
We particularly want to thank Altus Consulting for sponsoring the event and giving a particularly insightful presentation. The attendees were able to gain an insight into the mapping of our members within the insurtech community as well as the structure of the community itself.
Our first panel discussed how insurtech will change the perceptions and behaviour of the insurance industry. The discussion focused on how the insurtech community is a vital disrupter within the insurance sector to allow the UK market to become the greatest innovator. Our panellists agreed that a fundamental change needs to be made to UK investment, allowing the UK market to achieve its potential.
The second panel discussed what is needed from the Government and the industry to allow the UK insurtechs to become a global player. With representatives from Insurtech UK, Government and the investment industry it was a focused and extremely interesting discussion. Panellists focused on the uncertainty of Brexit and the change in perception from Government and investors that needs to occur to allow insurtech to become a global player.