An Insurance News technology seminar will unpick the criticism that the insurance industry has been slower and more reluctant than its peers to adopt innovative solutions and system change.

HDI Global claims manager for Asia-Pacific David Lloyd will discuss why insurance is different to and more complex than other financial services, which is partly why it has lagged in adopting technology solutions in the direct-to-consumer arena.

He will feature in a panel discussion – Does Technology Back Up Its Claims? – at the August 6 event in Sydney. Tickets are on sale here.

“Some people interact with their bank every day,” Mr Lloyd said. “With insurance, you tend to have a claim once every seven years. An insurance claim is a little bit clunkier ... so there’s no groundswell of customers.”

Also on the panel are Austbrokers Countrywide MD Tim Considine, AAMC client relationships manager Daniel Lukich and Financial Rights Legal Centre officer Drew MacRae.

The first panel session of the day – Are We Ready For Insurance 3.0? – is led by Insurtech Australia CEO Simone Dossetor, who will be joined by Marsh Pacific head of growth and digital Johannes D Veldsman, SyncTechnologies CEO Carolina Dreifuss, NTI CEO Tony Clark, and 360 Underwriting owner and director Denis Morrissey.

They will share examples of technology adoption and the actions companies are taking to catch up to other industries. They will also explore how technology could be used across the insurance value chain, sharing global examples.

The panel will consider the risk if insurers do not adopt emerging technologies as new, more agile players take market share; look at how insurers and insurtechs can collaborate better; and delve into some of the challenges stopping insurers moving forward faster – in particular the ongoing struggle with data.

Mr Veldsman will bring insights from the Marsh global practice, including how its UK business has developed a methodology for working with insurtechs, while Ms Dreifuss will share her expertise in building a data-led business.

The conference, Insurtech – Moving Forward Faster, is made possible by event partner Insurtech Australia and sponsors AAMC, SSP and JAVLN, and supporting sponsor HDI.

Other speakers include QBE Ventures head of emerging technology Alex Taylor, Cover Genius CEO Angus McDonald, Evari founder Daniel Fogarty, ZapCentral co-founder Lisa Woodley, and JAVLN CEO Dale Smith.

The event at Dockside Cockle Bay Wharf will include an insurtech pitch competition and a debate on Promise v Reality: Can Technology Really Change a People-Based Industry?

Attendees qualify for 5.5 NIBA CPD points and six ANZIIF CIP points.