Insurance in the Era of Disruption: The Challenge of Change with Fintech, Accelerated Risk and Hyper-connectivity


Insurance Industry

“The world of insurance is moving from an era
of looking back at past results to assessing
risk in real time! The winners will be those who
can realign to the new disruptive concepts of
risk assessment as this occurs!”


These are a few of the insurance related organizations that have booked Jim Carroll in the past. Jim has spoken at leadership meetings for senior executives of the largest insurance companies in the world; distributor and broker events; industry associations and professional groups, and many other sectors within both the life/health and property & casualty sides of the industry.


Insurance in the Era of Disruption: The Challenge of Change with Fintech, Accelerated Risk and Hyper-Connectivity

The world of insurance is being transformed at a pace that defines new opportunities, presents new challenges, and turns the established order upside down. It also challenges every assumption the industry has known.

You need a real expert – with real insight – into the trends that are underway. That’s where Futurist Jim Carroll comes in. He has been headling insurance industry events for 30+ years, including keynotes for Manulife, SunLife, New York Life, Harvard Pilgrim Healthcare, RBC Insurance, Cigna, Hartford Life, Farmers, MetLife, Lincoln Financial, Towers Perrin, RGA Reinsurance, Magellan Health, Gore Mutual, Economical Insurance, Chubb, the American Fidelity Group, Providence Health Plans, Aegeon, Blue Cross/Blue Shield US (multiple events) and CGU Insurance – and even a private event, invite-only event where he had the CIOs/CFOs/CTOs for Allianz, XL Insurance, Travellers, Zurich, Allstate, AXA, MetLife Auto & Home, Farmers, CNA, ICICI Lombard, Nationwide, American Family, Chubb, Ping An, Lloyds of London, Liberty Mutual, The Hartford, General, USAA, Geico, ACE, State Farm, Progressive, RSA in the room!

The industry is being rapidly disrupted by tech companies. Existing brokerage and distribution networks will be obliterated as more people buy insurance direct. Predictive analytics will shift the industry away from actuarial-based historical assessment to real-time coverage. Policy niches, micro-insurance, and just-in-time insurance will drive an increasing number of revenue models. The Internet of Things (IoT) and massive connectivity will provide for massive market and business model disruption. Fast-paced trends involving self-driving cars, the sharing economy, personal drones, swarm-bots, smart dust, artificial intelligence, and augmented reality will either mitigate, accelerate or challenge the very notion of risk assessment and underwriting! What happens when Amazon, Google, or some kid in a garage decides to really change the insurance business model? And then there it the element of risk itself – at a recent global insurance risk summit in Switzerland, Jim Carroll outlined the dramatic new forms of accelerated risk that the industry must now confront.

What seemed to be science fiction just a few short years ago has become a reality today, as time compresses and the future accelerates. Whichever way you look, all sectors of the insurance industry are set for an era of disruption, challenge, and change!

Is the industry ready for transformative change? Not really! A recent survey indicated that while 94% of Chief Strategy Officers at insurance companies agree that tech will “rapidly change their industry in 5 years,” fewer than 1 in 5 CSOs believe their companies are prepared. Does the insurance industry have the innovation culture necessary to deal with the potential for what comes next? Maybe not.

Jim Carroll has been assisting insurance organizations around the world to understand the tsunami of change that is underway: the rapid business emergence of new business models, accelerated risk, the emergence of new global competitors, and heightened customer expectations. In his keynotes he puts into perspective the real trends impacting the future of insurance, offering critical insight into the key innovation and leadership strategies in a time of disruptive change, as well as clear, action-oriented strategic insight that will compel you to action.


Keynote: Optima Health, Williamsburg, VA – Back to The Future in Healthcare, Today!

If you are a health care insurer, you'll probably want your leadership event to get away from the never ending topic of healthcare reform, and take a...


Trend: The End of Life (Insurance)

Through the years, I've done a tremendous number of talks within the insurance industry, both the life and P&C (property and casualty) sides...


Trend: The Future of Insurance, and the Actuarial Profession

[caption id="attachment_13194" align="alignright" width="223"] "Actuaries can expect that all of these technologies will continue to become more...


Video: “Insurance 2020: Challenge and Change!”

Here's a clip from a recent keynote for an insurance association at their annual conference in New Orleans; I'm speaking about the challenges that...


Keynote: Chubb Insurance, Phoenix, Arizona – The Disruption of the Insurance Industry

Real time insurance policies with risk underwritten based on hyper-connected data. Actuarial assumptions based on looking forward rather than looking...


Trends: What’s Next for the Insurance Industry (interview)

I'm doing a lot of insurance keynotes lately, in all sectors -- property and casualty, life, employee benefit plans.It's catching some...