About the Event
Over the past 18 months, AI innovations and the increasing frequency of natural disasters have reshaped the insurance industry. While AI has streamlined operations, it has also contributed to a rise in customer complaints.
Combined with frequent extreme weather events, this has led to declining customer trust. Insurers are responding by improving transparency, enhancing digital engagement, and offering more tailored solutions.
At the Future of Insurance 2025, discover how the industry is adapting to these challenges, managing emerging risks, and leveraging digital tools where they matter most.
Speakers
Executive Director, General Insurance and Banking
Australian Prudential Regulation Authority (APRA)
Indicative Agenda
- Key APRA 2025 Regulatory Changes: Overview of the most significant updates and how they impact the insurance industry’s operational landscape.
- Balancing Innovation with Compliance: Strategies for embracing digital transformation while ensuring alignment with regulatory requirements.
- Mitigating Risks and Strengthening Governance: Best practices for maintaining compliance frameworks during periods of industry evolution and technological adoption.
- Data-Driven Experiences: Leveraging data and digital tools to create personalised interactions that boost customer satisfaction and loyalty.
- Streamlining Operations: Utilising technology to improve efficiency, reduce costs, and make data-driven decisions that enhance operational effectiveness.
- Staying Competitive with Emerging Technologies: Strategies for adopting AI, analytics, and other innovations to enable agile, data-informed decision-making in a rapidly evolving market.
- Enhancing Customer Experience: how AI and chatbots have changed how customers engage insurers, the impact on experience and decline in satisfaction.
- Streamlining Operations: the role data analytics and technology have in the claims process, why it was implemented and how it has changed the traditional role of claims.
- Continuous Improvement: areas for enhancement in claims processes through personalised communication and ongoing customer feedback.
- How rapid advancements in artificial intelligence and machine learning technologies are reshaping the traditional landscape of the insurance sector.
- Streamlining underwriting processes, claims management, and risk assessment, leading to quicker and more accurate decision-making with new tools and technologies.
- Challenges and opportunities arising from increased reliance on AI, including concerns related to data privacy, ethical considerations, and the need for regulatory frameworks to keep pace with technological advancements.
- Trust Through Transparency: Strategies for increasing openness and clarity in policy offerings and claims processes to rebuild customer confidence.
- Personalised Solutions for Enhanced Satisfaction: Leveraging data and AI to tailor insurance products and services to individual customer needs and preferences.
- Improving Digital Engagement: Using technology to create seamless, user-friendly experiences that boost customer loyalty and satisfaction.
- AI in Life: how AI is being applied in life insurance processes like claims processing and risk assessment, and the outcomes it’s producing for insurers and customers.
- The Human Impact: the human implications of AI, including potential biases and fairness concerns, and how these technologies impact customer trust, satisfaction and the rise of complaints.
- Regulation and Future Reform: need for regulatory frameworks and reforms to ensure ethical AI use in life insurance, addressing privacy, accountability, and compliance as the industry evolves.
- Technology Driving Innovation: how emerging technologies are enabling the development of innovative products tailored to individual needs.
- Personalised Solutions: benefits of customising products to align with individual preferences, financial situations, and long-term goals.
- Addressing Security and Regulatory Concerns: security, transparency, and regulatory implications of integrating cutting-edge technologies into existing products, services and systems, ensuring consumer protection and trust.
- Selecting the Right Tools: Identifying and implementing the most suitable tools to address specific problems or drive improvements, from claims automation to customer engagement.
- Maintaining Operability: Ensuring business continuity and minimising disruptions during technology transitions by adopting phased implementation and robust support structures.
- Preparing Your Workforce for Change: Fostering a culture of adaptability by providing training and support to ensure employees are equipped to work effectively with new tools and systems.
- Mastering Digital Disruption: Strategies for integrating new technologies with traditional insurance processes and operations.
- Driving Innovation Forward: Key factors for fostering a culture of risk-taking and innovation.
- Maximising Strategic Partnerships: Benefits of alliances with fintech, tech giants, and other sectors to enhance innovation and manage complexities.
- Modernising Health: health insurers with legacy systems can transform their operations by embracing digital tools, enhancing member experiences, boosting efficiency, and using data-driven insights to adapt to evolving healthcare needs.
- HBF’s Transformation Journey: how HBF’s adoption of digital and cloud technologies has improved customer service, streamlined operations, and enabled data-driven decisions for more personalised and proactive healthcare.
- Global Opportunities: digital and system transformations are driving global improvements in customer experience, operational efficiency, and innovation, with international case studies demonstrating success in agility, personalisation, and enhanced care delivery.
- Identifying Operational Risks: critical operational risks linked to product and technology innovations in insurance, such as integration hurdles and data security issues.
- Overcoming Challenges: effective strategies to tackle barriers to innovation, including regulatory compliance and workforce preparedness, for successful implementation.
- Leveraging Opportunities: how adopting innovation can foster growth, enhance customer experiences, and provide competitive advantages in the dynamic insurance landscape.
- Assessing Climate Risk: methods for accurately assessing climate-related risks and their potential impact on insurance underwriting and pricing strategies.
- Innovative Coverage Solutions: how insurers can develop proactive coverage options tailored to customers affected by climate change, ensuring adequate protection and support.
- Technology-Driven Strategies: the role of technology, such as data analytics and predictive modeling, in enhancing risk assessment and improving customer engagement in the face of climate challenges.
- Innovative Partnerships: how strategic collaborations between insurers and tech companies can drive breakthrough innovations that enhance customer experiences and streamline operations.
- Value Creation: real-world examples of how technology-driven initiatives are delivering tangible benefits not only to insurers but also to customers and the broader community.
- Future Trends: emerging trends in insurance technology and how global partnerships can position the industry to adapt and thrive in a rapidly changing landscape.
- Building Strategic Partnerships: Explore how insurers can collaborate effectively with superannuation funds to offer tailored retirement solutions that meet evolving customer needs.
- Innovating for Retiree-Centric Products: Discuss product innovation opportunities that cater to the unique financial needs and longevity expectations of the retiree demographic.
- Capturing Growth in a Shifting Market: Examine strategies to position insurers for growth in the expanding retirement market, focusing on customer engagement and long-term value creation.
- How is data analytics and artificial intelligence reshaping insurance operations and services?
- In what ways can insurers leverage customer data to deliver personalised services, tailored advice, and enhanced experiences?
- What ethical considerations must insurers address to ensure responsible and transparent utilisation of data in the age of digital transformation?
- AI-Driven Accessibility: how AI and digital tools are enhancing accessibility, providing new opportunities for neurodivergent individuals, people with disabilities, and ESL workers by tailoring roles to individual strengths and needs.
- Upskilling Through Technology: utilising digital platforms and AI-based training tools can support continuous learning, enabling employees to enhance their skills and stay competitive in the evolving insurance landscape.
- Creating Inclusive Workplaces: how technological advancements are helping to build more inclusive and diverse workforces by offering flexible, remote roles and tools that support employees' changing needs.
- Data for Competitive Edge: how data-driven decision-making can provide a competitive advantage, enhance customer experiences, and fuel innovation in insurance products and services.
- Managing Risks with AI: challenges in integrating AI and data technologies, including navigating regulatory compliance, ensuring cybersecurity, and maintaining system scalability to mitigate operational risks.
- Balancing Innovation with Trust: the human impact of AI-driven innovations, focusing on how customer data is used, the importance of privacy, and the need for transparent, ethical practices in data usage to maintain customer trust.
Testimonials
Hear from previous attendees
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Fantastic event, interesting spread of topics and speakers and a highly engaged audience.
Future of Insurance, Sydney 2024
Contact Us
To participate as a speaker:
Jasmine Haw Alvarez
Conference Producer
T: +61 2 8484 0918
For event and marketing enquiries:
Jessica Cozanitis
Marketing Executive
T: +61 401 422 928
