Lunch & Learn: The Future of IoT in Insurance
In this free virtual Lunch & Learn webinar, we will shine a light on the status quo and the development of IoT in insurance.
The insurance industry is experiencing the biggest transformation ever, from being a passive risk taker to becoming an active risk manager. With this comes a shift from providing products to now providing services. The days where insurers are passively covering the risk of a financial loss without providing insights on how to mitigate risks are soon to be over. Customers are demanding that insurers provide insights, tools, and services to better understand their specific risk and how to reduce it.
The Internet of Things, or IoT, is taking a leading role in this transformation. Fitness trackers, smart home speakers and thermostats, connected vehicles, smartwatches, and toothbrushes are providing us with information on how healthy we eat, how many steps we are missing, or how much we are speeding when we drive.
Without detailed, and often real time, data about insured risks, insurers won’t be able to provide insights to the individual risk of customers. Although the industry is aware of the importance of IoT, 70% of insurers say IoT data is important to their company’s strategy (LexisNexis 2018), while only 5% of insurers are currently using IoT data.
In our upcoming 60 min Lunch & Learn webinar, Co-Founder Sven Roehl will share insights on the status quo and the future of IoT in insurance.
As a guest, we have invited Christoph Knapp, Executive Vice President at msg global solutions AG, to talk about the company’s IoT Analyzer (IoTA), which has been awarded by SAP and HERE as the IoT Tool of the year. IoTA was developed together with insurers and their actuaries to meet insurers’ demands to analyze, enhance and model IoT data for multiple business lines and create a 360 degree view of customers. msg global will talk about customer success stories and the latest development of IoTA in the area of claims management.
This event is part of our Virtual Calendar for the month of June. As our gift to the community during these challenging times, we have made all our virtual events this month free of charge. If you are an insurer, reinsurer, broker, insurance-related startup, or academia, this event is open and free for you.
Organizer: Cookhouse Labs
Guest Speaker: Christoph Knapp, msg global solutions AG, Switzerland
Venue: Live virtual webinar
Start Time: 11:30 AM Eastern Daylight Time
Duration: 1 hour, 15 minutes
Meet the Speakers
During his 20-years digital innovation journey in Financial Services, Sven has been responsible for numerous digital innovations in areas such as IoT, customer engagement, analytics, and platform services. He started his professional career as an M&A consultant, specializing in environmental risk management, and co-founded his first IT company to develop innovative IoT and GIS solutions in 2005 for the German insurance industry. Since then, Sven has worked with 60+ insurers around the globe to provide innovation services, always following his mission to Make Insurance Better. In 2016 Sven relocated from London, UK to Toronto, Canada.
Executive Vice President
msg global solutions AG
Christoph Knapp serves as Executive Vice President for msg global solutions AG in Switzerland. Christoph has been working for 9 years within the msg group. He is the product owner of the Insurance IoT Analytics Platform, called IoT Analyzer (IoTA), and has led some IoT implementation projects in Europe. After joining msg global solutions AG in 2010 from Aptargroup, Christoph functioned as a consultant in a variety of vertical markets within the SAP consulting business. Before his work with msg group, Chris worked as an In-House Consultant in different positions, with a focus on Business Process Management and Software Implementation.