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msg life has participated in Insurance Revolution

msg life has participated in the Insurance Revolution meeting, where professionals from the insurance sector have discussed the challenges that insurers will have to face to meet the demands of leadership in digital ecosystems. The meeting took place in Madrid, with the participation of some of the most relevant insurers in the Spanish market.
In addition to the sessions on collaboration between different players in the market, how to enhance digitalization, how to use disruptive technologies in business models, etc., in this event, under the moderation of Maria Jesús Huertas —Programme Manager of Insurance Revolution— and of Maria Parrilla – Director of Strategy and Innovation of Generali -, were also presented the preliminary results of the 1st Study of Technological Trends and Innovation in Insurance. The survey, which can be filled in here, is an investigation by IKN Spain, which msg life has decided to support from the beginning, with the intent to share knowledge among the different players in the market regarding the main challenges facing this sector, and specifically the challenges and adaptations necessary in the technological ecosystem of insurers.
In the first results of the survey, we can verify that the automation of processes and the personalization of the offers, both of products and services, is fundamental for insurers focused on anticipating and satisfying the needs of their clients, with more efficiency and decreasing the risk.

Currently, it is essential to be able to analyze different factors to improve the pricing and to customize the offer. With this capacity, the insurer improves the adaptability of the products and helps to calculate the prices in a dynamic and personalized way; builds trust in consumers, who are increasingly open to new and innovative business proposals; and guarantees the maintenance and even the increase of its market share with respect to competitors that have not yet adapted their products to the new business reality.

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