Hosted by KMC Mag Group and Savills, the Novo Club Dinner was an exclusive, invitation-only dinner for leaders in the Australian insurance industry.
We brought together c-level representation from the insurance sector and discussed burgeoning issues within the industry. The dinner was held at the luxurious Park Hyatt Hotel in Sydney Harbour on Thursday, 20th August. Guests were given the opportunity to network with senior peers, enjoy a lavish dinner and partake in a thought-provoking and free thinking discussion.
We discussed the evolution of the insurance industry, looking specifically at how technology is changing consumer expectation.
Customer experience is evolving. Consumer satisfaction now centres on cumulative experiences, across multiple touch points and through multiple channels. Research studies have shown that a customer’s lifetime value and profitability is virtually set in stone in the first 90 days of a relationship, when on-boarding activities are at a peak – this preliminary period is therefore more vital than ever before, since it has become a point of high risk in the modern customer experience.
- Can large insurance firms compete with nimble, upstart operators who are providing niche customer experiences (that the customer of today craves) whilst still maintaining solid profits?
- What factors, other than price point, are left to Insurers to differentiate themselves and how are they taking advantage of these factors?
- Is insurance broking a relic of the 20th century whose end has finally come?
6:30 pm: Arrival and drinks reception
7:00 pm: Welcoming and opening address
7:10 pm: Dinner discussion on “The evolution of the insurance industry” initiated by the moderator and continued by the group
8:00 pm: Dinner is served as the discussion is brought to a close
9:00 pm: Change of seats before dessert
Park Hyatt Hotel, Sydney
7 Hickson Rd, The Rocks NSW 2000, Australia