How can motor insurance brokers become future proof?

The motor insurance business model is about to  change says Steve Sammartino, a futurist, author and technologist as he declares what we have learned at school, university and business college to be severely outdated.

He went on to tell the rapt audience at an Allianz sponsored afternoon session at the 2018 NIBA Convention how to keep up with the changing world as we enter the technological age.

“Humanity, creativity and connection sit above technology. Machines are for efficiency and admin, human beings are for creativity and connection.”

The key take aways for brokers from his session were:

  • In eight years there won’t be one petrol car on the road.
  • Focus in on key three areas that will disrupt motor Insurance: Internet of Things, Autonomous Transport, Block chain.
  • The impact of the above on business systems – how they’ll change the industry.
  • There are lots of opportunities for motivated brokers to leverage on solving people’s problems.
  • General shift from industrial era economy.
  • The key point is that Artificial Intelligence will never replace humanity.
  • Invest ten minutes on yourself everyday and stay abreast with changes in technology

He said, “We are living through a mobility revolution. The way we travel will change the world around us too. We need to focus in on key three areas that will disrupt motor insurance and how this will impact and change the industry.”