Take 5 with Daniel Turgel, CEO, SmartInsure

In just 2 days, Chicago's Radisson Blu will be teaming with 500+ insurance innovators, leaders and rising stars.

Connected Insurance USA kicks off on November 28th and has attracted the most senior level speaker line-up and audience yet - with leaders from across the insurance value-chain gathering to discuss the state of insurance and leverage the tools to make real impact-driven change.

Meet Daniel at Connected Insurance USA: Register here

One of the speakers leading this conversation is Daniel Turgel, Chief Executive Officer at SmartInsure. Recently, Daniel shared with me a little about his session at the summit and where he thinks the insurance industry is headed.

1. Tell us a little bit about your session and who it would be most valuable to?

In the panel, “Proactive, Tailored, Lower Cost: Providing The New Insurance Offering,” we’ll focus across the tiers of advancement in insurance that are on the horizon as smart home technology adoption proliferates. There’s opportunity for new home IoT devices to be used to complement insurance, to improve both customer acquisition and claims management. This panel will be most valuable to insurance marketing professionals, carriers, agents, and claims adjusters, where they’ll get an understanding of how new home technologies can be used to complement insurance to protect the home, how a new customer relationship will be formed, and how these changes will impact insurance strategies.

See Daniel's Full Presentation at Connected Insurance USA: Register here

2. In your company, how does your role fit into the product and customer engagement innovation puzzle?

I’m the CEO and co-founder of SmartInsure, where I’m focused on architecting our platform from both ends, including the product portfolio and insurance offering for customers, and partner relationships. From the beginning, SmartInsure has focused on answering: How can we deliver a modern technology experience through homeowners’ insurance? I’m leading our team in developing the platform that will create an all-in-one solution that provides homeowners with smart home product and installation as well as a cooperative insurance policy, which will strengthen both their ability to protect their home as well as their relationship with the provider.

3. What are the top three trends and challenges facing insurance carriers today?

Today, insurers face three main challenges as new trends emerge. The first is digital transformation, where consumer expectations of seamless policy administration and integration to other financial and smart technologies must be met. Next is excessive capacity and low interest rates, which is at once a cyclical and structural problem and yet also opens the potential for multiple new strategies to be tried out in the industry. Lastly, cyber security is a challenge that insurance and every other industry faces, with financial businesses being the most susceptible because of their access to capital. As we become more fully integrated with hardware in the home, the threat doubles – smart home technology has the potential to pose cyber and physical risks to the homes of our customers if not properly supported and protected.

4. What technologies are you investing in and innovation strategies are you prioritizing in 2019?

While there are many emerging technologies that will impact the insurance industry, we are currently investing across specific focused areas. Primarily, we are concentrating on home telematics and extension of the data we glean from the home environment. This laser focus concentrates on three core technologies: machine/deep learning, cyber security and blockchain modalities as applied to claims and marketing. Beyond that core focus, we are working with voice integration (specifically Alexa and Google Assistant).

Meet Daniel at Connected Insurance USA: Register here

SmartInsure are creating a new insurance customer experience for homeowners based on internet of things (IoT) and Smart Home technology that lowers risk, lowers premiums and eliminates losses by using real-time streaming customer data to monitor all risks associated with the home - all at no additional charge to the customer.