The AFIP InsurTech workgroup
AFIP – Associação Fintech and Insurtech Portuguesa – was created in 2016, to promote the development of Fintech and Insurtech companies and technologies in Portugal. This eclectic non-profit association brings together some 100 members and stakeholders from banking, insurance, universities, technology and management consulting, and from the world of startups.
The AFIP aims to aggregate resources and national potential to promote and defend the FinTech and InsurTech sectors, improving the competitive position of their companies. It does so on four fronts:
- Knowledge: produces and disseminates information and knowledge with value for the sector
- Networking – brings together entities, national and international, participating in the sector
- Lobbying – seeks to alter favourably the legal, national and international environment of the sector
- Promotion – promotes the orientation of various private and public resources for the sector.
It develops its work structured in seven work groups. In June 2018 the workgroup InsurTech gave the kick-off of their activity by organising a conference on ‘The state of the art of InsurTech’. It was the beginning of an effort to unite wills and efforts to promote the development of the InsurTech sector in Portugal. The workgroup has three coordinators who intend to give an opportunity to all interested parties to participate and contribute with their ideas, reflections and proposals for a broad space of reflection on specific topics in this field: Manuel Leiria, Business Coordinator; Bruno Ferreira, Legal Coordinator; João Paulo Matos, Technological Coordinator. The working themes of the group are currently focused on two areas: connected insurance and the mapping of the InsurTech ecosystem in Portugal.
The workgroup organised the second InsurTech event at the end of March in Lisbon, which helped to understand how artificial intelligence can help insurers in analysing data sets and interactions in order to have a more effective role in acquiring and retaining customers*. Keynote speakers at the event were: David Cabral, COO of PeakRe and Teresa Rosas, CIO of Fidelidade. A further seven InsurTechs also presented their respective solutions, which may benefit industry players.
One year after its start, work continues, and a third event is being finalised: Insurance and InsuTech Roundup – Differences and Similarities across Regions. Based on Celent’s research and perspectives from around the world this conference will focus on the similarities and differences between EMEA, LATAM, China/Asia, and North America.
Stay tuned.
* For more view The Digital Insurer webinar recording: The AI Powered Insurer here: https://www.the-digital-insurer.com/event/ai-powered-insurer/
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