A number of people have asked me how we started the Earnix Pricing & Innovation Summit so, with our 3rd annual event approaching (October 22-23), I thought now would be a perfect time to share with you how the event came to be.
As I was beginning my role at Earnix in 2012, I attended quite a few events in both the insurance and banking industries. I sensed quickly that a void existed in the market for an event around the topic of decision analytics, which could bring together both analytical and business leaders under one roof.
While the insurance industry has a number of events and seminars about pricing and underwriting for actuarial professionals, as well as other general purpose industry events, I wasn’t able to find a place where I could learn from and network with insurance business stake holders and their key analytical staff all at once.
In retail banking, I found the issues were a bit different. While there was an abundance of banking events regarding payments, regulation and general industry trends, there was very little attention paid in conferences to applied predictive analytics and data driven decisioning as vehicles for banks to achieve their goals. Today, a few years later, many conferences in the banking industry still primarily address challenges such as macro changes in the markets, regulatory affairs and trends like consumers ‘going mobile.’
I also came to realize that at these events there is very little sharing of actionable ideas happening, most likely because, in general, all attendees were from the same country. It was difficult to learn new techniques and views when the crowd was composed solely of people in head-to-head competition with one another, understandably keeping their cards close to their chest.
So here – in both the insurance and banking industries – we saw a gaps that needed to be addressed. We wanted to step in as a thought leader in the financial services industry and be a valuable part of this community by bringing the business leaders & goal setters together with the people actually applying analytics to their work. Our goal was to get people from around the world to share best practices with each other but also show them a good time by providing great entertainment year after year. This year marks our 3rd annual event and, based on the success of the Summit over the last 2 years, we can see that you’re happy we’ve filled the voids that we identified. With the feedback we’ve received on past Summits, we’ve put together an outstanding agenda and speaker lineup for this year with some of the top minds today in financial services.
I can’t wait to ring in the start of the 2014 Earnix Pricing & Innovation Summit on October 22 in London.
I hope to see you there!