Apr 28, 2021
Christopher McDaniel is the President of the RiskStream Collaborative, the first global cross-insurance sector consortium focused on innovation in the insurance space. Christopher shares his thoughts on the future, why blockchain will be an essential part of the insurance industry, and why now is the time to act on, and learn, these new technologies if you want to gain a competitive edge.
Key Takeaways
- A little bit of Christopher and how he found himself in this field.
- How does blockchain work?
- How has blockchain evolved from when it first got started to where it is today?
- GDPR and blockchain? There might be some conflicts happening.
- Fast-forward to the future, how will blockchain be used in the insurance industry?
- The insurance industry has a talent gap. Can AI and blockchain help fill some of these needs or at least upskill more people?
- AI will help more professionals shift into new roles, and it will be able to automate some tedious ones. For example, underwriting.
- Christopher shares some of the biggest challenges we’re facing in the industry right now and how they will affect our ability to perform our work in the future.
- Don’t wait to see how “things go.” Take action now or else you’ll be at a competitive disadvantage.
- This is not just about learning new technologies, it’s about keeping up-to-date with the latest in the insurance landscape.
- What does Christopher wish he’d learned sooner?
Keep Getting Better
Web.theinstitutes.org/riskstream-collaborative
Quotes
“Blockchain allows for the sharing of information in a very secured way.”
“The biggest challenge now is to just get folks comfortable with these new technologies.”
“If you sit on the sidelines and wait until everybody does this, you’re not just going to be playing catch up in four to five years, you’re going to be at a competitive disadvantage.”