CIO East Africa set to host the premier regional insuretch forum

The Insuretech advisory board during a meeting to deliberate the agenda.

The Institute of International Finance did in September 2016, publish an article based on a study about Innovation in Insurance and How Technology is changing that Industry.

The IIF survey reported on a variety of breakthrough technologies set to fundamentally spur transformation of the industry including Cloud computing, the Internet of Things (IoT), advanced analytics, telematics, the global positioning system (GPS), mobile phones, digital platforms, drones, blockchain, smart contracts, and artificial intelligence (AI) among others.

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Three years later, the East African insurance domain remains reserved with very little or no technology interventions.

CIO East Africa, in a bid to enhance the uptake of technology into the insurance industry, shall on the 19th September 2019 at the Serena Hotel in Nairobi, host a premier InsureTech forum to Connect the Digital Future of Insurance Today.

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“Today’s insurance companies are facing a perfect storm of three converging factors: the struggle to achieve top-line revenue growth, changing customer needs and expectations, and encroaching technology giants and new players taking market share from incumbents,” says Laura Chite, CEO CIO East Africa, adding; “In light of these pressures, innovation is a business imperative to insurance firms.”

Powered by Zep-Re, the forum aligns heated discussions around technological disruptions in the said industry including the use of Blockchain for building trust in the insurance, the readiness for GMAs as insurers and offering digital services as the new insurance paradigm among others.

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Speaking at the Summit include Hope Murera, CEO Zep-Re, Peter Wanjohi, Research Officer with Association of Kenya Insurance (AKI), Michael Kaburu, Business Process Systems Analyst at Jubilee Insurance and Stanley Chege, CIO Madison Insurance among others.

“Having digitized information readily available enables insurance firms to make more informed underwriting decisions and provides policies accordingly,” says Stanley Chege, CIO Madison Insurance adding, “Leveraging data technology will transform the very nature of risk assessment and mitigation.”

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