Cyber and Casualty Insurance Services Broadened by Big Ticket
In the bustling city of Manchester, the Association of Insurance and Risk Managers (AIRMIC) hosted its annual conference in 2010, which unveiled some intriguing developments in the insurance and reinsurance domain. One of the most significant announcements was the launch of Big Ticket, a groundbreaking neutral digital hub designed specifically for the global commercial insurance industry.
Big Ticket, co-founded by Ken Fraser and Rob Bartlett, is the world's first digital platform of its kind. The hub aims to facilitate and maintain operations for clients in a digital space, fostering innovation and collaboration. Christian Kanu, the CEO of Generali Global Corporate & Commercial, and Paolo Mantero, the Chief Strategy Officer of Zurich Insurance Group, were among the notable industry figures present at the conference.
The launch of Big Ticket signifies a significant stride towards digital transformation in the insurance sector. The platform is envisioned to streamline renewal processes, enabling faster and smoother operations. Big Ticket provides a secure digital environment for digital exchange, innovation, and collaboration among various key players in the industry.
The likely contributors to Big Ticket include insurance technology companies (InsurTechs) like Lapetus Solutions, offering AI-powered underwriting and risk assessment tools. Insurance carriers and underwriters, adopting digital platforms for streamlined claims and payouts, are also expected to be part of the digital hub. Technology service providers, such as Twilio and MailChimp, offering communication, customer service chatbots, and payment flexibility, are also anticipated to be involved.
Industry associations and event organisers, like NAMIC, facilitate innovation showcases and discussions on technology integration, such as Tokio Marine HCC and HSB, represented by their senior leaders. Data analytics and IoT solution firms, enabling real-time risk monitoring and proactive risk mitigation, are also expected to collaborate around digital innovations like AI underwriting, smarter payouts, cross-channel communication platforms, and IoT-driven risk solutions to advance the global commercial insurance market.
Julia Graham, the CEO of AIRMIC and the Chair of the Big Ticket Advisory Board, and Franck Baron, the President of IFRIMA, a Board Member of PARIMA, and the Chief Risk Officer of International SOS, are key figures driving the development and growth of Big Ticket.
The exploration of Big Ticket's potential is based on early results from its rollout. Aon, a leading player in the industry, showed increased influence at the AIRMIC 2010 conference, indicating a promising future for Big Ticket. The conference has generated some unexpected interesting findings, and the future of the global commercial insurance industry looks set to be shaped by digital innovations, with Big Ticket at the forefront.
[1] Insurance Nexus [2] Reuters [3] Insurance Business Magazine [4] Insurance Insider
- The launch of Big Ticket, a digital platform for the global commercial insurance industry, is expected to drive innovation and collaboration, with InsurTechs like Lapetus Solutions, insurance carriers, underwriters, technology service providers, and data analytics firms contributing to its operations.
- Following the announcement of Big Ticket at the AIRMIC 2010 conference, frontrunners in the industry such as Aon have shown increased influence, signaling a promising future for the digital hub.
- Big Ticket's co-founders Ken Fraser and Rob Bartlett are pioneering the digital transformation in the insurance sector, introducing a secure digital environment for clients, AI underwriting, and IoT-driven risk solutions.
- The development and growth of Big Ticket is being driven by key figures such as Julia Graham, the CEO of AIRMIC and the Chair of the Big Ticket Advisory Board, and Franck Baron, the President of IFRIMA, a Board Member of PARIMA, and the Chief Risk Officer of International SOS.
- The future of the global commercial insurance industry is expected to be shaped by digital innovations, with Big Ticket at the forefront, as reported by insurance-related media outlets including Insurance Nexus, Reuters, Insurance Business Magazine, and Insurance Insider.
