RIO DE JANEIRO, Sept. 26, 2023 /PRNewswire/ — The second day of FIDES Rio 2023, the largest insurance conference in the Americas and the Iberian Peninsula, organized by Brazil’s National Confederation of Insurers (CNseg), addressed crucial aspects of digital transformation in the insurance market and the search for the best customer experience. The schedule of activities featured renowned industry experts, such as Nobel Prize-winning economist Paul Krugman and Luis Alberto Moreno, a member of the World Economic Forum’s Board of Trustees, who shared their perspectives and experiences.
In his talk, Krugman noted that the increase in inflation caused by the economic repercussions of the pandemic has been reversing steadily in the United States and Europe. However, interest rates remain high in these regions, and he said this is because higher interest rates have not caused an economic recession or a significant increase in unemployment in developed countries.
A specific discussion panel focused on the digitalization of insurance and emphasized that this trend is irreversible. Companies such as eBaoTech and BB Seguros shared their strategies for digitalization and success in the insurance sector. Allianz stressed its customer focus, while Porto Seguro presented the way it has adapted to the digital age. The Brazilian Private Insurance Regulatory Agency (SUSEP) mentioned regulatory challenges in Brazil.
In another panel, Superior Court of Appeals justices Herman Benjamin and Ricardo Villas Bôas Cueva discussed the importance of legal certainty in insurance contracts, highlighting the need to establish standardized understandings on issues related to the insurance market.
The Insurance Global Trends panel discussed solutions to reduce the “protection gap” between insured and uninsured climate-related losses, which is more than 80% in Latin America. They also emphasized the need for diversity, inclusion and innovation in the insurance sector, with artificial intelligence playing a crucial role in data analysis and risk prediction.
The last day of the event also explored topics such as the challenges and prospects for the ESG agenda, and the importance of cybersecurity in mitigating risks in the insurance industry. The next edition of FIDES will be held in Costa Rica in 2025.
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SOURCE National Confederation of Insurers (CNseg)