Risk & Innovation in Data and Analytics

Grocers Hall • Princes Street, London EC2R 8AD

Agenda

09.00

KEYNOTE ADDRESS: The vision for the role of data in the modern digital world: just how far reaching are the possibilities with data?

  • How are advancements like AI, machine learning and Internet of

Things set to change our perception and use of data?

  • Using data innovations to provide better liability risk management
    • Use of social media to predict lifestyle habits and risks
    • Connected homes
    • Facial recognition technology
    • Use of genetic data to price policies.
    • Data from in car telematics as a means to avoid incidents and cut claims
    • Health tracking devices
  • What could insurers achieve with information available from other sectors and industries?

Speaker: Renzo Avesani, Chief Risk Officer and Chief Innovation Officer, Unipol

 

09.30

PANEL: How is big data actually being used in the insurance business today?, how does the insurance sector power up to match the level of analysis and potential seen in other sectors?

  • Innovative uses of big data and smart data for improved risk identification, assessment and underwriting practices
    • telematics
  • What insight are firms currently gleaning from unstructured data sets and how?
    • How is that information being analyzed and used?
  • Data sources: How are technological advancements altering the way insurers identify and procure new sources of data?
  • Opportunities on the horizon – what does the future hold for insurers who can fully embrace the potential of big data?
  • How does the insurance sector power up to match the level of analysis and potential seen in other sectors?

Panelists:

Barry Hawkins, Head of Dynamic Underwriting and Pricing, AXA Insurance
Joseph Lu, Director, Longevity Science, Legal & General Retirement
Steven Wilkins, Head of Underwriting Insight, Hiscox

Moderator: Kevin Sookhee, Director/Senior Advisor, Intrepid Tech Ventures

10.15

PANEL: Data quality and data governance frameworks in the digital economy

  • Renewed importance of sound data management in the world of evolving technologies and big data.
  • Developing a clear governance structure to ensure big data is managed responsibly and transparently
  • Ensuring big data is used in the context of a strong risk management culture
  • Ensuring data quality: Protecting against faulty or fake insights because of wrong or manipulated data.
  • Combining regular data with big unstructured data sets
  • Maintaining efficiency in data usage

Panelists:

Esko Kivisaari, Deputy Managing DirectorFinance Finland
David Lodge, Global Data Governance Manager, Allianz
Monika Samtani, Technical Expert, Authorisations, Gibraltar Financial Services Commission

Moderator: Chris Cundy, Managing Editor, InsuranceERM and Insurance Asset Risk

11.00

Coffee Break

11.30

Analytics in a post GDPR world

  • How does the wealth of opportunities presented by big data fit in with the sensitivities and requirements of GDPR?
  • How do you add value but stay within the guidelines?
  • Meshing together huge sources of public data and privacy guidelines
  • How do you procure and source data in a GDPR world?
  • Opportunities for innovation arising out of GDPR
  • Opportunities to build customer trust and drive sales
  • Privacy by design
  • Profiling
  • Data portability

Speaker: Alberto Chierici, Co-Founder, Spixii

12.00

PANEL: Taking the SFCR to the next level

  • What lessons have we learnt from the first and second years of reporting?
  • Handling data for reporting, deadlines
  • What lessons have we learned from rivals' SFCRs?
  • How is the process being improved?
  • Putting detail into context, etc.
  • Dealing with shrinking timelines for Pillar 3 reporting
  • Regulators feedback:
    • Problematic areas: In what instances have resubmissions been necessary?
    • Collaboration between regulators?

Panelists:
Richard Charlton
, Deputy CRO, Canada Life
Ross McGee
, CRO, OneRe
Pernille Jul Overby, CRO, Industriens Pensionsforsikring  
Dr. Allan Kearns, Head of Analytics, Insurance Supervision Directorate, Central Bank of Ireland
Lewis Webber, Head of Division, Insurance Data Analytics, Prudential Regulation Authority

Moderator: David Walker, Senior Staff Writer & Head of Projects, InsuranceERM 

12.45

Lunch

13.45

PANEL: Data ethics - exploring boundaries in data usage

  • When is explicit consent required and how is it obtained?
  • Boundaries as defined by GDPR
  • What usage is reputationally/socially/morally acceptable?
    • from a consumer viewpoint  - where is the cut off point when using personal data to price policies and influence and predict customer behaviour
    • from the perspective of data sources such as retailers / healthcare / affinity groups?
  • Will these boundaries change in time?

Panelists:

Dominic Rau, Head Risk Governance and Steering, Swiss Re
Justin Skinner, CRO, Vitality
Roger Dix,
CRO, Wesleyan 

Moderator: Cintia Cheong, Staff Writer, InsuranceERM

2.30

Identifying and sourcing the right data on which you can establish a competitive advantage

  • Competing with niche providers who provide niche insights
  • How do you enable the data scientists to onboard the right data
  • Implementing a strategy to
    • Identify the profile of your ideal target client.
    • Identify the right data
    • Source and collect the right data
  • Using this data to target the profile of your ideal client
  • Making that data available to the firm and the right people within the firm.
  • What makes a successful data scientist?

Speaker: Annarita Roscino, Head of Predictive Analytics, Zurich

3.00

Coffee Break

3.30

PANEL: What does the big data technology revolution and advancements in AI and IoT mean for the CRO and the risk function?

  • What impact has the prioritisation of data as an asset had on the role of the CRO?
  • What does the CRO need to do to remain relevant? 
  • Skilling up – what new skill sets and capabilities do the risk manager need to develop 
  • How does the profile of the risk team need to change? 
  • Switching of focus from risk oversight to risk taker 
  • CROs as facilitators of disruptive change and innovation 

Panelists:
Kathrin Meier, CRO, Allianz
Mark Chaplin, CRO, AVIVA 
Ross McGee, CRO, One Re

Moderator: Chris Cundy, Managing Editor, InsuranceERM & Insurance Asset  Risk

4.15

PANEL: Managing risks posed by big data and insurtech innovations

  • Medium to long-term challenges related to data-based technological innovations such as Internet of things and machine based learning
  • Managing risks from third party collaborations
  • Assessing the appropriateness of current data collection tools and processes. Where do adjustments need to be made to incorporate new data and big data from evolving technologies?
  • Addressing consumer data privacy concerns:  Using big data in the context of a strong risk management culture
  • How are regulators responding to the new risks arising from insurtech?
  • Risk of competition: How do big traditional insurers make themselves sufficiently fleet of foot to compete with disruptor start ups?

Panelists:

Anthony Brown, Director, Group Risk, Prudential Plc
José Morago, Deputy Chief Risk Officer / Head of Department, Financial Conduct Authority
Adam Seager, ERM Director, Argo Group
Katja Wuertz, Head of Consumer Protection Department, Eiopa

Moderator: Vincent Huck, Editor, Insurance Asset Risk

5.00

End of conference