INSURANCE CONFERENCE

TECHNOLOGY CHALLENGES FOR INSURERS

WEDNESDAY 14TH MARCH 2018 / 1300HRS - 1730HRS
HOTEL PHOENICIA FLORIANA, MALTA / GREEN LOUNGES B & C

PROGRAMME:
13:00 Welcome refreshments
13:30 Introduction by
Ms Catherine Calleja - President, Malta Insurance Association & Managing Director,
Atlas Healthcare Insurance Agency Ltd
13:40 InsurTech: Challenges and Opportunities for Insurers
Mr Thomas Gelin - Policy Adviser - Insurance Europe
14:10 The role of innovation and regulation in insurance for Automated Driving
Mr Ben Howarth - Senior Policy Adviser – ABI UK
14:40 Changing the Game - Disruption and Innovation in Insurance
Professor Chris Parsons - Cass Business School, City, University of London
15:10 Coffee
15:30 The rise of ‘robo-advice’ – some challenges for the retail financial advice sector
Dr Patrick J. Ring - Glasgow Caledonian University
16:00 Developments on the scope of the Motor Insurance Directive
Mr Francis Valletta - General Manager - GasanMamo Insurance
16:30 Business Cyber risk
Dr Antonio Giannino - University of Malta
17:00 Concluding remarks by
Dr Simon Grima - Head of Insurance Dept, FEMA, University of Malta & President, MACO

ORGANISED BY
TALK CONTENT:
InsurTech: Challenges and Opportunities for Insurers
Mr Thomas Gelin - Policy Adviser, Insurance Europe.
The Speaker will provide a broad overview of what
“Insurtech” covers right now and what we expect it to cover
in the future (from mainly sales or internal processes to
product innovation and claims settlement). The presentation
will also consider the challenges insurers may face (in
particular the need for the right balance between removing
regulatory obstacles to digital innovation on one hand and
safeguarding consumer protection and fair competition on
the other). Finally, the motor insurance will be used as an
example of the opportunities insurtech encompasses.
The role of innovation and regulation in insurance for
Automated Driving
Mr Ben Howarth - Senior Policy Adviser, ABI UK
• Outline the ABI’s work to develop an industry position on
insuring the first wave of automated driving
• What are the key challenges presented by anticipated
technological developments and the timescales the industry
is working to?
• How will the development of automated driving affect
consumers and claimants?
• What is the purpose the UK Government’s Automated and
Electric Vehicles Bill and what role did the UK insurance
industry have in developing this legislation?
• What needs to happen to make this legislation a success and
what will the main priorities for 2018/19 be?
• What can European and international insurance companies
learn from the ABI’s work on automated driving?
Changing the Game Disruption and innovation in insurance
and Financial Services
Professor Chris Parsons - Cass Business School, City,
University of London
The general subject of the Seminar will be potential ‘disruptors’
or game changers in insurance and financial services. The aim
is to foster discussion and debate on things that are changing,
or may soon change, the nature of insurance and financial
services, obliging insurers to rethink and re-engineer their
corporate and business strategies.
The opening presentation will provide a broad overview of a
range of such factors. This will set the scene for presentations
by individual practitioners who will highlight the potential
disruptors that could affect their own businesses and outline the
strategies that their own firms are adopting to address them.
The rise of ‘robo-advice’ – some challenges for the retail
financial advice sector
Dr Patrick J. Ring - Glasgow Caledonian University
In the UK, regulatory changes abolishing commission-based
advice and seeking greater professionalism in the advice sector
have also produced what many have identified as an ‘advice
gap’ and which has deterred many consumers from seeking
advice. At the same time, given poor financial literacy and an
increasing need for private retirement saving in the UK, the
importance of ensuring good financial consumer outcomes has
become an important issue.
As a result, there has been a greater focus on the provision
of ‘robo-advice’ – the development of low-cost automated
advice channels intended to address the ‘advice gap’. The
UK regulator is currently working with firms to try and
overcome these issues.
The presentation seeks to provide an understanding of
the nature of automated services, the regulatory issues in
relation to their delivery, and the potential implications in
terms of the development of the advice sector.
Developments on the scope of the Motor Insurance Directive
Mr Francis Valletta - General Manager, GasanMamo Insurance &
Chairperson, Motor Sector (Malta Insurance Association)
The decision of the Court of Justice of the European Union on
the “Vnuk” case in 2015 has raised many questions as to the
extent of the scope of the Motor Insurance Directive.
Subsequent other cases that came before the CJEU and the
ongoing debate that was generated as a result, prompted the
Commission to consider including some changes in the MID to
try and bring about clarity in interpretation, lately through the
REFIT review announced in 2017.
As the Commission’s Impact Assessment is expected to be
published in March 2018, we examine the many issues and the
likely impact on the cost motor third party liability insurance.
Business Cyber risk
Dr Antonio Giannino - Managing Director, Amagis Risk &
Lecturer, University of Malta
This paper will explore the elements that make up cyber risk and
the aspects that have to be known to a business or organization
to become aware of this fearsome risk – Cyber risk.
The presentation will delve into 10 considerations that
enterprises should be highly aware of to be able to address the
new wave of risk. Most particularly the speaker will address
the weakness that organisations possess and the extent of
vulnerability they are in.
The presenter will debate identifying techniques to spot risks
and control measures to react when an inevitable attack
happens. Moreover adequacy of insurance against this potential
risk will also be discussed.
BIOGRAPHIES
Thomas Gelin
Thomas has worked for
over three years as a policy
advisor for Insurance
Europe’s general insurance
team, working mainly
on motor-related issues
and new motor technologies in particular.
Prior to joining Insurance Europe, Thomas
worked as an insurance adjudicator for
the UK’s Financial Ombudsman Service.
Thomas is a French-British national. He
studied law and European affairs in France,
the UK and Belgium.
Ben Howarth
Ben Howarth joined the ABI
in June 2015 and is a Senior
Policy Adviser for Motor
and Liability. He leads
the ABI’s policy work on
automated driving. As part
of this, he is responsible for managing the
work of the ABI and Thatcham Research’s
Automated Driving Insurance Group. He
was responsible for drafting the ABI’s
response to the 2016 C-CAV consultation
that informed the approach taken by the
Government to this legislation.
He also leads the ABI’s policy work on
road safety issues, especially for young
drivers; the ABI’s work to respond to
the European Court of Justice’s ‘Vnuk’
judgement and the ABI’s work on the
forthcoming reform of the regulation of
Claims Management Companies.
Chris Parsons
Chris Parsons is Professor in
Insurance at Cass Business
School, City, University
of London. He began his
career in insurance with the
Guardian Royal Exchange
(now AXA) Group and has had a lifetime
of engagement with the insurance industry,
as a practitioner, teacher, researcher and
consultant. He is a non-executive director
of Trust International Insurance and
Reinsurance Company.
Chris is the author of three books and many
scholarly publications on insurance and
law. He is a regular speaker at national and
international conferences and seminars and
has won many awards for research and
teaching, including the Chartered Insurance
Institute (CII) Morgan Owen Medal and
Prize, the International Insurance Society/
Geneva Association Research Award and
Cass Business School prizes for excellence
in postgraduate teaching.
Chris’s specialist expertise includes
insurance management and strategy,
international insurance markets, insurance
law and regulation, accident compensation
and liability insurance.
Patrick John Ring
Dr Patrick Ring is a
qualified lawyer who
holds an LLB (with
distinction) from the
University of Edinburgh,
a BA (Hons) (First Class)
Social Sciences from the Open University,
an MSc Applied Social Research (with
Distinction) from the University of Stirling
and a PhD in Pensions Policy from
Glasgow Caledonian University, Scotland.
He is a Member of the Chartered Institute
of Securities and Investment and the
Chartered Insurance Institute, as well
as being an Associate of the Pensions
Management Institute and a Fellow of the
UK’s Higher Education Academy.
Before entering academia, Patrick was
a corporate lawyer in private practice,
then becoming legal counsel for a
large insurance company. His teaching
and research interests include financial
regulation and compliance; operational
risk management and culture in financial
services; trust in financial services; pension
policy and reform; financial education and
awareness; and retail consumers in financial
services. He is an external examiner for
the University of Malta and the Institute
of Banking, University College Dublin; an
External Subject Specialist in Pensions for
the Chartered Institute of Securities and
Investment; and a Senior Associate at the
Centre for Risk, Banking and Financial
Services, University of Nottingham.
Francis Valletta
Francis Valletta is a
Chartered Insurance
Practitioner and has been
working in Motor insurance
for the last 30 years. He
currently holds the post of
General Manager of the Motor Insurance
Division with GasanMamo Insurance Agency,
one of Malta’s largest motor insurers.
He currently chairs the Motor Sector
Committee of the Malta Insurance
Association, and is a member of the
Malta Green Card Bureau and the Motor
Insurers Bureau Councils, and a member
of the Motor Insurance Pool Management
Committee. He also represents the Malta
Insurance Association on the Motor
Working Group of Insurance Europe.
Francis is a visiting lecturer at the
University of Malta and at the MITC.
Antonio Giannino
Antonio is the Chief Risk
and Compliance Officer
of Amagis Capital and
the Managing Director of
Amagis Risk, an affiliated
company of Amagis
specialised in cyber-risk management.
Prior to joining Amagis, Antonio
was a teaching assistant at Bocconi
University in Milan in several Mathematics
and Economics classes, including
Financial Mathematics and Financial
Macroeconomics and has been a PHD
student in Zurich for one year. Moreover,
Antonio managed several research
projects for respected and acknowledged
scholars at Bocconi, coordinating other
research assistants and applying cutting-
edge statistical models. Given his passion
for technology and behavioural finance,
over the last years Antonio became a
global recognised speaker on human leaks
in cybersecurity, participating in events
such as RiskMinds Americas, RiskMinds
Asia, and RiskMinds International. Antonio
is a MSc Magna Cum Laude graduate in
Economics and Social Sciences.
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Technology Challenges for Insurers
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MAIN SPEAKERS
Mr Thomas Gelin - Policy Adviser, Insurance Europe
Mr Ben Howarth - Senior Policy Adviser, ABI UK
Professor Chris Parsons - Cass Business School, City, University of London
Dr Patrick J. Ring - Glasgow Caledonian University
Mr Francis Valletta - General Manager, GasanMamo Insurance & Chairperson, Motor Sector (Malta Insurance Association)
Dr Antonio Giannino - Managing Director, Amagis Risk & Lecturer, University of Malta

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