Next week, we’ll be making our yearly pilgrimage to Vegas to attend InsureTech Connect 2024, where we’ll connect with clients and colleagues and take the pulse of the industry, looking for the trends and innovations that are reshaping insurance.
This year, like everyone else, we’ll be paying close attention to AI. As it continues to shake up the insurance industry, there’s still this challenge: how do we balance the high-tech with the human touch that’s so vital to meaningful customer experiences? We’re hoping ITC offers a first-hand look at how insurers are tackling this challenge.
Over my 20 years working with this industry, I’ve seen a growing urgency to combine digital efficiency with human empathy, and today, that need has never been greater. These five sessions promise a glimpse into how the industry can move forward:
AI: When will the rubber meet the road?
When: October 15, 2024, 1:15 PM – 2:00 PM
AI has been one of the most hyped trends the insurance industry has ever seen, but the big question remains: when will AI truly transform the industry? In this session, Chris Eberly, Head of Datos Insurance Insights, will delve into the tangible impacts AI is already having on business operations, alongside exploring the emerging opportunities reshaping the insurance landscape.
At Cake & Arrow, we’ve been keeping an eye on AI’s potential with interest, but we know from experience that its success hinges on thoughtful implementation. Too often, we see AI deployed in ways that prioritize efficiency over the human touch, leading to impersonal interactions that alienate customers.
What excites me about this session is the opportunity to hear about the AI advancements that are already driving change and how insurers can navigate the balance between automation and empathy. I’m looking forward to hearing practical insights into how AI can enhance, rather than replace, the crucial human elements of customer experience—especially during those high-stakes moments when trust is everything.
Deepening client relationships through innovative tech: The benefits of empowering agents and policy owners in the moments that matter
When: October 16, 10:30 AM – 10:50 AM
Experience has shown us that trust is the center of gravity in the insurance industry. Without it, policies are just paperwork and promises lose their meaning. Trust is what transforms transactions into relationships, and it’s the key to building loyalty in an industry built on protection and peace of mind.
This session, a conversation about legacy planning with Empathy and New York Life, promises to explore how innovative technology can strengthen these relationships and, by extension, deepen trust within the insurance industry—by empowering agents and policyholders at key moments.
As insurers navigate increasingly digital environments, the ability to create personalized human experiences is critical. At Cake & Arrow, we often see insurers make the same mistake: starting with technology instead of the human need. We’ve explored elsewhere how technology can enhance relationships without diminishing the human element. Personally, I’m interested to see how this session addresses this push and pull between the human touch and the tech. I’m especially looking forward to seeing examples of how tech can improve key touchpoints without messing with the one-on-one interactions that matter most.
Customer-centric claims design: Putting policyholders at the heart of the process
When: October 16, 10:30 AM -11:05 AM
The claims process is one of the most significant moments in a customer’s insurance journey—it’s where promises made by insurers are put to the test. And while automation can help speed up claims handling, which obviously benefits both insurers and customers, if not thoughtfully executed, it risks turning what should be a human back and forth into a cold, impersonal transaction.
As we’ve noted elsewhere, maintaining empathy in claims is critical to keeping the customer relationship alive. I’m hopeful that this session, with Guidewire, Cowbell and others, will show how insurers are finding the right balance between tech and trust, and using this as an opportunity to deepen connections with their customers. Claims don’t always have to be just about resolving an issue—they can be about reaffirming the relationship, and I’m looking forward to seeing how insurers are getting it right.
The personalization revolution: The role of genetic data in unlocking value and promoting engagement
When: October 17, 11:10 AM – 11:45 AM
Data is the key to personalization, right? But using that data effectively in ways that resonate with policyholders is what sets true leaders apart. The introduction of genetic data into insurance opens up an entirely new frontier for personalized experiences, and this session, a conversation with leaders from MassMutual, Munich RE Canada, and Genomics, promises to explore how insurers can leverage genetic risk assessments to provide more tailored and relevant health insights.
This session also promises to dive into the regulatory compliance required when introducing such sensitive data into the insurance ecosystem, but I’m hoping they also touch on privacy concerns. From a human-centered design perspective, I’m particularly interested in how insurers can avoid crossing into the uncanny valley of where they know too much for the customer’s comfort.
With genetic data, there’s real potential for powerful, proactive health management, but that must be balanced with customer trust. As tech optimism meets a healthy dose of skepticism, I’d like to see the panelists explore how insurers can offer meaningful personalization while ensuring they respect the boundaries of privacy and build lasting relationships with policyholders.
Driving loyalty through exceptional experiences: Lessons from group insurance innovators
When: October 17, 2024, 2:00 PM – 2:35 PM
We’ve seen how group insurance can present a unique challenge due to the multiple intermediaries—brokers, employers, and agents—who act as go-betweens for the insurer and policyholder. With so many layers between the insurer and the policyholder, building loyalty requires mastering multiple communication and service touchpoints. In this session, leaders from Benekiva, Teambase, and Reliance Matrix will discuss strategies employed by group insurance innovators to cultivate loyalty through exceptional customer experiences.
At Cake & Arrow, we know from experience that intermediated channels can lead to a disconnect between insurers and policyholders. I’m eager to learn how these innovators are leveraging digital tools to bridge that gap—using technology to streamline processes while maintaining human-centered service. With the growing shift toward digital-first distribution models, this session is also timely in addressing the evolving role of agents and brokers. As insurers embrace these models to reach broader audiences, I’m particularly interested in how they ensure that intermediaries continue to play a critical role in cultivating trust and loyalty, even in fast-paced, digital environments. I hope to see practical examples of how insurers can support agents in delivering high-touch service while meeting the expectations of today’s digital-first customers.
And finally…
I’m anxiously anticipating my time on the Ballroom L stage 👀, where I’ll join USAA Life, Cowbell, and Fabric to talk with Marissa Buckley about what it takes to acquire customers in an increasingly competitive market. Hope to see you there!
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If you’re attending InsureTech Connect 2024, let’s connect! I’d love to discuss how we can partner to design more human-centered digital experiences. You can schedule time with me at the event here.
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by Emily Smith Cardineau
