Global IQX CEO, Michael de Waal rose to the top of the Instech 100 Leaderboard as a knowledge leader in insurance technology, now commonly referred to as “insurtech.”
With a growing following on multiple social media platforms, de Waal a believer in Insurtech collaberation, continues to show how new technologies apply to the group insurance space. On Friday, de Waal reached the top 10 spot, joining an exclusive group of the most influential social media users in the insurance technology space.
Social networks allow us to connect and share knowledge with likeminded, informed individuals. This helps everyone to better understand information and gain new perspectives on how we could, and should, be looking at things.
When asked about his inclusion de Waal replied, “I am delighted to be included amongst such great individuals. All of whom are contributing to transformative ideas that will help shape the future of insurance. When dealing with something you’re passionate about, something that makes a difference to your clients, you want to be on the cutting edge so you can inform people about what trends are taking hold in the industry.”
New technology is rapidly changing the way insurance worked for centuries. New business models such as P2P, IoT technologies including wearables for health and smart homes, and telematics for automotive insurance, are all changing the way people interact with their carriers.
Simultaneously, automation and artificial intelligence are creating new ways for insurers to connect with and provide services to customers by requesting personally identifiable information (PII). This data enables analytics from across technologies to predict risk, reduce losses and reward customers with lower premiums. For an industry that saw little to no change for a very long time, insurtech is quickly re-shaping the landscape.
“Insurance technologies are creating a win-win for both insurance carriers and their customers,” said de Waal. “If there was ever a capacity for insurance to become ‘cool,’ insurtech is now giving it it’s best shot. The more people talk about it and share the stories of success, the better equipped everyone will be to implement the right technologies.”