The insurance industry is well known for its cautious approach to risk-taking in general. But that approach needs to change, and quickly, industry professionals were told on the opening day of the Entrepreneurial Insurance Symposium Sept. 6 in Dallas.
"InsurTech is the new dot-com," said Richard Kerr, chairman and CEO of MarketScout and founder of the symposium. "Like the dot-com era, we have a fear of being left behind. In my company, we're looking at technology, but carefully." He urged the audience to investigate technology and be prepared to change sooner rather than later or risk being left behind like traditional stock brokers or Blockbuster Video stores.
Be open to technology
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
