Evolving Insurance Ecosystems The Focus Of SMA Summit

If there were any doubts that the insurance industry is innovating and transforming, all doubts were dispelled at the 2016 SMA Summit. Insurer after insurer described innovative new business models, products and uses of emerging technologies. Virtual reality, drones, gamification, wearables, the IoT and other emerging technologies were all discussed — not as future possibilities for insurance, but as real-life examples in the marketplace. Partnerships with grocery chains, universities, nutritionists and insurtech companies, among others were prominent in the discussions. One word in particular — ecosystems — was repeated throughout the course of the event.