Insurtech Insights, held in June 2024 at the Javits Centre, New York, brought together leading insurers and insurance technology firms to understand key industry trends and innovations.

Of course, being the USA, everything is on an impressive scale with over 5,000 attendees, and seven different stages running non-stop for two days. On my first morning, I was listening to an Executive from State Farm explain how given regular customer churn, they need to sell over 10 million policies per month to grow the business. 

As we are also seeing in New Zealand, there are some big external trends facing the insurance industry, including new emerging technology, climate change, and the cost-of-living crisis.

It was great to hear how insurers and insurtech companies are approaching these challenges and start to understand how complex, but also interrelated, some of the solutions are. 

Generative-AI

The hype has certainly not stopped around Gen-AI and, as anticipated, it was the most popular topic across the conference. I heard from a range of technology vendors and insurers who had successfully partnered to deliver innovations. 

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