Africa InsureTech Virtual Forum

PANEL DISCUSSION: With the need for agility paramount to modern insurance, how can removing the shackles of legacy systems allow for insurers to remain relevant and therefore competitive. How are back office limitations holding the industry back? Will technology disrupt insurance legacy systems? What is the step change in technology upon us? What options exist for insurers looking to reduce their expenditure on outdated technologies? Why has is it never been more important for insurers to address Heritage System issues such as failure to upgrade? The need for a psychological and cultural shift What are the opportunities that will come from fully integrated data?

Chatbots, artificial intelligence (AI) and machine learning -- technology is changing the landscape of the insurance industry. New facial recognition software can nowanalyse how well a candidate for life insurance will age. Facial recognition technology already promises to prevent fraud and crime at ATMs and self-checkout counters. Emotion recognition technology holds the promise of preventing insurance fraud by building upon facial recognition. These tools may help agents and insurance companies measure risk while better serving consumers but are also creating some anxiety about whether robots will soon replace insurance agents. Is the Insurance Agent as we know them out of business?