Insurance-Edge takes a look at what’s happening this week at BIBA, the biggest event for insurance brokers in the UK.
Arguably the most important feature at BIBA is the Hackathon, where some of the keenest minds within the insurance sector will be competing to come up with new insurtech ideas. The amount of investment which is pouring into the insurtech segment right now is huge, so there will be lots of interest from brokers, underwriters, claims specialists and more.
The keynote speeches from Dame Inga Beale, Martha Lane Fox and Andrew Bailey from the FCA are bound to cover topics like post-Brexit regulation, the tricky matter of curbing excessively high motor renewals, GDPR, plus the pace of consolidation within the UK broker market. Local business Pukka Insurance, based in Cheadle near Manchester, are also launching in Australia, so expect an antipodean surprise at the Pukka Party on Wednesday night!
But what can we expect from some of the companies exhibiting at BIBA 2018?
PremFina will be showcased in ITN’s video “De-Risking the Future,” played at BIBA’s opening event, and the company’s core message is offering brokers much-needed freedom of choice. Brokers can select a financing option to suit their needs or simply automate existing manual processes with PremFina’s white-labeled Software-as-a-Service (SaaS).
PremFina’s CEO Bundeep Singh Rangar will host a fringe session at BIBA on the positive potential of insurance on the BlockChain: “It will help us maintain our technological lead in the market,” he said. “Embracing BlockChain could also help brokers and insurers future-proof their business models.”
Touchstone have an afternoon reception for brokers, which runs from 1.30pm -6pm, which is taking place at the Midland Hotel, right opposite the BIBA Conference Hall.
One of the fastest growing risks to business right now is cyber attack, so brokers keen to learn more could find that it’s worth calling in to see Pool Re, who have a new cyber terror product.
DAS are also launching a new cyber insurance proposition, plus a revamped website which should make e-trading that bit easier.
IGI Make BIBA Debut
International General Insurance are first timers at BIBA, and happy to speak about their portfolio of services; commercial, construction, directors, legal and political violence.
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