ITC 2017 — Insurtech Is On The Move
Sureify is back from ITC 2017 in Las Vegas. While ITC 2016 saw many carrier representatives walking around like polite but confused patrons at an abstract art exhibition, wondering how these newfangled technologies could fit into their world, this year it seemed our carrier friends had studied up and were mainly asking How and when can we start implementing?
Superficialities were eschewed as people came to us with concrete questions about implementation and stats on our product’s performance in the marketplace. People wanted to talk nitty gritty, which is why we were glad we had our CTO and Lead Engineer come along to expertly handle tough questions about security, timeline, development and data.
The Sureify-Hannover Re pre-conference workshop was apparently the pre-game event to be at. Over 150 insurers and investors exceeded the capacity of the Caesar’s Palace conference room to hear Sureify and four other insurtechs discuss the ways they are transforming the life insurance industry.
Over the course of the week, we interacted with 300 individuals from 215 different companies. Some were looking to partner with us (120+), some were investors(80+) and some were life insurers (90+).
Sureify’s LifeTime Platform was demoed dozens of times, allowing so many people to share in our vision of the digital transformation of life insurance, from direct web and mobile sales, to automated underwriting, to effective post-sale engagement with policyholders.
It seems the Great Insurance Awakening is taking place at last, at least in the life insurance domain where Sureify resides. The neglect of the lower and middle markets is a sin insurers can no longer countenance. Too exclusively focused on the upper market, life insurers now look for an inexpensive, low friction, omni channel engagement and sales strategy to access the millions of buyers that have been neglected. This is the story we heard over and over at ITC 2017. Given Sureify’s value proposition, we felt we were at the right place at the right time attending ITC 2017.
Best wishes everyone and see you at ITC 2018!