Make no mistake about it, the world of insurance as we know it today is changing, and changing for the better. The driving force behind that change is of course technology.
Technology has hugely influenced the insurance industry, with terms and phrases such as cryptocurrency, Blockchain, machine learning, and A.I all being used more frequently than ever. With all the advancements in modern technology, it should come as no surprise to learn that AI was one of the hottest topics at this year’s InsureTech Connect (ITC) Vegas conference.
This year’s event was certainly one to remember, bringing together some of the nation’s biggest venture capitalists, investors, insurance vendors, industry visionaries, and experts in the insurance industry, for one amazing event.
Of the many topics discussed this year, AI, cyber risks, climate change, and customer satisfaction all proved especially prominent. The overall message, however, was one of great optimism.
A Conference to Remember
Mandalay Bay, Vegas, recently hosted arguably its biggest and most successful ITC conference so far.
Complete with huge booths, a beer garden, and two, yes, two puppy playpens, it’s easy to see why this year’s conference is considered by many industry leaders as the best and most progressive thus far.
Puppies and beer aside however, this year’s conference touched upon numerous pain points for those in the insurance industry and looked at how technology and AI within the insurance bubble, is both a blessing and a potential curse.
In particular, the Catastrophic Risks Panel was one of the most talked about, with topics such as how climate change is affecting home insurance proving to be especially popular, not to mention poignant.
While the conference served as a gathering for numerous industry leaders in the insurance field, ProxyPics stood out as a notable participant. Since its inception in 2016, the company has steadily progressed, contributing to the dynamic discussions at this year's event.
Overall, the takeaway message here was very positive, with many agreeing that by bringing the insurance industry hurtling into the 21st century, both customers and insurance vendors alike will benefit hugely.
ProxyPics Gets Industry Leaders Talking
Among the numerous vendors present at this year's ITC, ProxyPics distinguished itself as a standout participant. It garnered significant attention and positive discussions, highlighting its innovative approaches and solutions in the field.
Networking with industry veterans and visionaries alike, they showcased their highly effective business model while providing and gaining a valuable insight into the rapidly evolving landscape of the insurance industry.
In particular, it was their self-inspection and vast network of qualified data collectors that generated the most buzz and excitement, and rightly so. Utilizing the wealth of technology available to them, their business model of collecting images and data of virtually any property nationwide, in less than 24 hours, proved to be very appealing to the countless insurance experts and vendors at the conference in Vegas.
Whether it’s an image of a property for underwriting/claims, photos of storm damage, or anything else, the fact that insurers can gain such valuable insights and obtain such valuable data less than 24 hours after a home insurance claim has been made, is very exciting indeed and can only help take the industry to even greater heights.
