After the successful editions of #InsurtechSofia in 2017 and #InsurtechSkopje in 2019, we at Fintechguardian – The European Association of Fintech Stakeholders, decided to proceed further by organizing the third edition of #InsurtechBalkans series of specialized Insurtech summit and expo events.
This time we are in Belgrade. The #InsurtechBalkans series brings insurance regulators, insurance consumers and insurance industry experts together with investors and Insurtech enthusiasts to discuss the future of the Insurance business and how it affects all stakeholders.
Our unique event is entirely dedicated to the future of the risk transfer industry being the single event in the Balkan region, focused entirely on Insurtech. We present our visitors with opportunity to interact with hand-picked speakers and top industry experts thus turning #InsurtechBalkans into a collaborative platform for opinion exchange and facilitated interaction between our guests.
The event creates also a meeting point between Insurtech Wantrepreneurs and their potential investors revealing future opportunities for growth. We strive to bring together bright minds and business experience that could evolve in numerous success stories.
Will Insurtech reshape the Insurance Industry?
“InsurTech has an impact across all of the steps of the value chain in the insurance and pension sectors, including through the emergence of start-ups, often in cooperation agreements with incumbent undertakings. The business models of undertakings and the consumer experience are being transformed as a result of the proliferation of financial innovations and technology.”
Excerpt from Insurtech Task Force Mandate by EIOPA
AI and its related technologies will have a seismic impact on all aspects of the insurance industry, from distribution to underwriting and pricing to claims. Advanced technologies and data are already affecting distribution and underwriting, with policies being priced, purchased, and bound in near real time. An in-depth examination at what insurance may look like in 2030 highlights dramatic changes across the insurance value chain.
Insurance 2030—The impact of AI on the future of insurance, McKinsey & Company
The state of insurance 2030
10:00 - 10:20 Introductory Remarks
What is Insurtech and how it works. Global Insurtech overview. Presentation of #InsurtechBalkans Hub. All this and much more will be introduced as the topic of our 2020 event by Desislav Danov – the Enthusiast-in-Chief behind the InsurtechBalkans Hub.
10:20 - 10:40 EIOPA’s activities in the area of InsurTech
EIOPA’s Julian Arevalo will reveal how insurtech developments are reflected by the work of EIOPA and what is the EU level approach towards the topic.
10:40 - 11:00 Regulatory View on Insurtech in light of N Macedonian experience
How Insurtech is regulated at state level? What are the challenges and opportunities, faced by national regulators? How North Macedonia is dealing with this issue? These questions will be answered by Klime Poposki – former head of N Macedonian Insurance Supervisory Agency.
11:00 - 11:20 Support to innovative companies in Serbia
State-of-the-art in start-up support for commercial enterprises in Republic of Serbia.
11:20 - 11:40 About Digital Finance Strategy for EU
ASF’s Calin Rangu will shed light onto the recently published Digital Finance Strategy, adopted by the European Commission, its societal and economical implications for the Insurtech and related technology and the timetable for its adoption.
11:40 - 12:00 AI and blockchain: the future financial security
How the internet security will be affected by introduction of Artificial intelligence and Block-chain solutions? Will this evolution make things better or worse? Many questions with difficult answers. Boris will try to shed light on these and many others during his presentation.
12:00 - 12:20 Why MGAs Will Never Be the Same
Plenty of commentators on insurance have pondered over MGAs in recent times. Over the past few years, they’ve been going through huge changes to their makeup and have had to change the way they operate in a number of ways. Meanwhile, distribution is becoming harder to come by for larger insurers to achieve growth and profitability so now is the perfect time for MGAs to modernise and get ahead of the game. In this session, we will be discussing the changing DNA of MGAs, looking at 3 “Ds”: Distribution, Datafication and Digitalisation to demystify the future. We’ll look at the market landscape to discover not only why these changes are happening, but how MGAs, and their partnerships with incumbents, can get a much needed boost. Doug Robare will highlight all issues above.
12:20 - 12:40 Responsible AI with black, white and glass boxes
Andreas will highlight the implications of Ethical AI and their development and deployment, falling within E-thical, L-egal, S-ocial, E-conomic, C-ultural, (or known as ESLEC ) specifications and values.
12:40 - 13:00 Insurtech education: where to enroll?
Where to learn Insurtech? This question has many different answers depending on one’s location. There are places offering multiple opportunities and there are places with scarcity of options. How to breach the digital divide, how to extract most of online opportunities if you are interested in career in Insurtech and Fintech? These questions are to be answered during the presentation of Mr Julian Pishev – in charge of educational module of InsurtechBalkans Hub.
13:00 - 13:20 Open Finance – What does it mean for Insurance and InsurTech?
13:20 - 13:40 Digital Finance Education: FinTech and E-Banking Masters Course at Sofia University
This session will introduce the latest addition in education in Bulgaria: the first-of-a-kind master’s course “FinTech and E-Banking” at the Faculty of Economics and Business Administration at Sofia University. The course is supported by the Bulgarian Fintech Association (BFA) and aside from introducing various state-of-the-art topics in financial technologies, will feature lectures by industry professionals from more than 15 members of the BFA. The topics include P2P lending, E-Banking, digital payments, blockchain, AI and machine learning, InsurTech and regulation of FinTech, to name a few. The support of the BFA goes beyond lecturing and FinTech companies will provide students with scholarships, internships, open days, conferences, workshops, mentorship and master thesis opportunities. The course is a fine example of successful cooperation between Business and Academia in the new digital era.
13:40 - 14:10 Follow the money. Presenting opportunities for investment in Insurtech
Overview of investment opportunities for Fintech and Insurtech start-ups throughout the Balkans region. In a friendly chat Pavel and Desislav will outline the financing opportunities for Fintech and Insurtech entrepreneurs from across the Balkans. The crowdfunding opportunities as alternative to directed financing will be highlighted as well as diverse financial sources for further development. The panelists will try to map potential obstacles and pitfalls for any starting small company and how they could be overcome.