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The role of innovation in the insurance sector: Alberto Minali at the Ania Annual Meeting

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The role of innovation in the insurance sector: Alberto Minali at the Ania Annual Meeting
20 February 2019
The role of innovation in the insurance sector: Alberto Minali at the Ania Annual Meeting

«The insurance sector is a net buyer of technology. We import digital and use it for our needs even if the use of data could change this paradigm.» This is what the Cattolica Managing Director said during the round table meeting organised during the second Ania Annual Innovation Meeting, speaking on the role of technology in the evolution of the insurance field. «Through big data, we create precise insurance solutions, but if we push too hard on digital, we could decrease the need for coverage of a few risks.» On the topic of innovation in the sector through the contribution of startups, Alberto Minali then pointed out that: «Innovative companies can support themselves through the venture capital they can afford to invest, but insurance companies cannot be so generous: it takes caution and selectivity, but when their service allows us to create value for our customers, we need to be there.»

«Some of the biggest challenges of the future market are certainly those connected to the healthcare business, because the national health system is definitely a boasting point of our country, but over the long run, it is economically unsustainable. Of course, innovation can help - the Cattolica MD concluded - just think of the apps that can replace diagnostics, reducing costs for the State, but this health system will not be able to hold up for long. It is also a cultural topic, because we do not have a planning mentality. In Germany, for example, long term protection policies are in the highest demand, whereas this is not the case in Italy because we do not have this cultural approach.»