In this podcast episode, we explore the dynamic intersection of technology and insurance, delving into the transformative trends that are reshaping the flexibility of insurance products. Our discussions with industry expert unveil the cutting-edge role of innovations such as AI, blockchain, and Insurtech solutions. Real-world case studies spotlight successful implementations of these technologies, showcasing how insurers are crafting adaptable products that cater to the evolving needs of policyholders. We also address the delicate balance insurers must strike between adopting new technologies for flexibility and ensuring security, compliance, and an optimal user experience. Join us to unravel the tech trends revolutionising insurance flexibility.

Points of discussion:

1. In the rapidly evolving landscape of insurance, technology plays a pivotal role. Could you highlight specific technological trends that are currently transforming the flexibility of insurance products, and how these innovations are reshaping the way insurers approach product development?

2. With the rise of Insurtech and advancements like AI and blockchain, there's a significant impact on the flexibility of insurance offerings. Can you share real-world examples or case studies where technology has been successfully harnessed to create more adaptable insurance products, meeting the diverse needs of policyholders?

3. How do insurers balance the adoption of new technologies to enhance flexibility in product development while ensuring security, compliance, and a positive user experience for both customers and industry stakeholders?

Speaker Bio: Randel Bennet is the founder and Principal Consultant of Qixent Insurance Services, a consultancy firm specializing in providing innovative insurance solutions. Prior to forming Qixent, Randel was the Vice President of Strategic Partnerships at Swiss Re, and he was also the co-founder of an insurtech focused on auto insurance, besides being a product management leader at various insurance brands.