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Happy 20th Anniversary to Spain’s Insurance Week

Covering key insurance issues in Spain and beyond

The most important players in Spain’s insurance industry convened in Madrid on March 12th, 2013 for Insurance Week. Celebrating its 20th anniversary this year, La Semana del Seguro is an open forum for all businesses from the various aspects of the insurance industry to meet and discuss new trends, innovations, and most importantly, the future of the field.

Conferences, Sessions, Panels

With three days of sessions, Insurance Week covered all major areas of interest in the industry. Some of the discussions from this year’s conference included, to name a few:

  • Insurance Senior Management Forum- Building the future
  • IV forum of Blogs and Social Networks in the insurance industry: opportunities for intermediaries
  • Iberoamerican Forum: Sharing experience to face new challenges
  • GT Motive Session: Managing motor insurance claims: trends

For a brochure of the sessions, see full list here, offered both in English and in Spanish.

Octo and Telematics Innovation

This year, Octo chose to sponsor an entire session on March 12th, titled: Telematics make the change in motor insurance. Taking into account the current status of the insurance industry, trends, and new technologies, Octo’s session covered popular topics such as: opportunities for the client, marketing evolutionary tools, new efficiencies for the technical department, medical expert assessment, solutions that allow change, and the proactive management of incidents. In addition to Giulia Nasini, head of brand identity at Octo Telematics, and Davide De Sanctis, country manager at Octo Telematics Ibéria, the other moderators included Javier Rollon from AtKearneys España, Rubén Aparicio from Cesvimap, Sergio Carvalho from OK!Teleseguros – Caixa Geral, and Enrique Dorado, a medical examiner.

Telematics marks the change in automobile insurance

Not your common before-and-after session, Octo’s panel discussed telematics: before and now. The auto insurance industry has already begun to change because of this technology; it is no longer a future prediction. Telematics has indubitably added concrete and visible value to both clients and companies. The usage of this technology in automobiles will grow at a rapid, exponential pace. Even if the number of cars using telematics in Europe is now at a seemingly low percentage (about 3 million), this number will blow up, with forecasts predicting that 20% of all transportation in Europe will be using the technology by 2018. In other words, telematics will be the factor transforming the automobile insurance industry.

From just ‘a number’ to ‘a person’

Perhaps the most important concept to keep in mind is that with telematics, car insurance is starting to be viewed as a personalized service offered to drivers. Rather than being one of the many paying customers, telematics offers a client car insurance, one that is adjusted to his or her needs, including the benefits that come along with telematics technology, like reduced cases of fraud, quicker response times to accidents, and reduced costs. Moreover, the way in which agents and companies communicate with consumers is also changing with telematics technology. A more dynamic, and above all else, a more proactive rapport will be created between customer and insurance provider, with real-time assistance now being possible. And most importantly, with telematics in the insurance sector, companies and providers will finally get to know their customers.

All drivers need car insurance; there is no way around it. With telematics technology and its groundbreaking transformation of the automobile industry, the obligation to be insured will surely seem more like a luxury, tailored just for you.

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