Aon’s latest global M&A Risk in Review report finds reasons for optimism in 2022, but the broker cautions dealmakers that headwinds persist in the wake of the COVID-19 pandemic.

Insurtechs determined to disrupt the insurance industry have not succeeded so far, but a future wave of insurtechs could emerge to achieve a similar goal, carrier executives said recently.

The paradigm shift from traditional to digital means of carrying out operations is leading the industries through a pathway of growth and development. In the new era of technological advancements, the insurance sector is in the midst of a radical, digitally infused shake-up.

One of the key drivers of digital transformation at the origin of the success of the new economy is the customer experience. It is now becoming one of the spearheads of the digitization of the insurance industry. The journey? The product? The touch points? Which factors really improve the loyalty of these 2.0 consumers?

The personal lines segment is known for leading the charge with innovations and technologies – a reputation that only strengthened during the pandemic.

Cambridge Mobile Telematics (CMT) now offers a new way for auto insurers, automakers, rideshare, fleet, wireless, and safety companies to automatically engage with their customers through its DriveWell platform and, in the event of a crash, would automatically gather sensor information for collision repairers and insurers to reference.

Ellen Robles shares how Employee Resources Groups foster an inclusive environment and help build careers at AIG.

Insurance has always been a data-driven business, from ancient waybills recorded on papyrus under the Code of Hammurabi, to the charters of the first property insurers after the Great Fire of London.

Crypto assets and quantum computing have been flagged by analysts at Swiss Re as two of the most significant emerging risks for insurers and reinsurers, with the potential to create new risks within the global financial system.

Though insurtechs are recognized as a disruptive force in a long-established industry, less is known about the actual technologies these companies are using to differentiate themselves from traditional competitors.

Tokio Marine HCC – Cyber & Professional Lines Group (CPLG) offers hands-on assistance and a thoughtful, tech-driven approach to underwriting. Its success has landed it on IBA’s 2022 list of 5-Star Cyber Insurers.

Tokio Marine HCC – Cyber & Professional Lines Group (CPLG) offers hands-on assistance and a thoughtful, tech-driven approach to underwriting. Its success has landed it on IBA’s 2022 list of 5-Star Cyber Insurers.

The demand for embedded financial services has been seen across the industry, with the insurance sector being no exception. Embedded insurance has the potential to remove the hassle from a purchase, create tailored products, allow the insurer total control of what they want to sell, and help close the ‘protection gap’.

Since I started my career three decades ago, there’s always been this paradoxical rhetoric about the insurance industry’s risk averseness, mainly stemming from the absence of a flurry of innovative products, services and processes.

A new report from Swiss Re states that reinsurers and insurers can play a key role in the development of the hydrogen economy through risk management knowledge and transfer.

Customer satisfaction in digital offerings from insurers declined this year, according to the J.D. Power 2022 U.S. Insurance Digital Experience Study.

Differentiated products and services are key to growth among life and annuity carriers.

Tech-driven innovation is fundamentally reshaping the insurance industry. Emerging capabilities including telematics, artificial intelligence and machine learning have transformed nearly every aspect of the insurance value chain and continue to create new omnichannel experiences for customers.

Elon Musk took a moment this week to talk about something other than Twitter: his carmaker’s effort to cut out the middlemen and lower premiums.

Jamie Hale is the CEO and co-founder of Ladder. He has also served as a partner at Aldenwood Capital and Jasper Ridge/Oak Hill Investment Management.

As the InsurTech industry approaches the next wave of innovation, experts say this could mean navigating rough waters.

Some of the most important questions insurance company CEOs ask their reserving actuaries are: “How much adverse development are we experiencing?” “What is driving these results?” and “Are any parts of the business heading into trouble?”

Hanson encourages professionals to “never give up learning. There will always be someone out there who can do it better, more efficiently, or in a newer way. Your openness to new talent, new perspectives and new ideas will make you a better professional, teammate, and friend.”

Insurers have made significant investments in improving their data assets over time. Large-scale IT projects are replacing legacy systems, data lakes and warehouses are being built and new policy and claims administration systems have been installed. All with the promise of improved data quality and greater data availability.

For any life insurer, future success means resonating with demographically diverse generations of new consumers where they live—and that’s increasingly in a digital world.

In this blog series, we’ve looked at the latest entry in the only longitudinal survey of underwriters in North America. The study, which is run in partnership with Accenture and The Institutes, provides vital context for tracking the trajectory of underwriting, which is the heart of any insurance carrier’s business.

Since the onset of the pandemic, many businesses across all industries stayed afloat by fundamentally understanding the way people shop and purchase and transforming their processes to meet that need.

Challenger firms are helping to change the industry, but incumbents will take the rewards, says John Chambers.

Covington & Burling LLP attorneys suggest how the insurance industry might respond to the unique risks that are sure to arise from commerce in the metaverse.

Bolttech, an insurance technology unicorn backed by Hong Kong billionaire Richard Li, is considering raising $200 million to $300 million in fresh funds this year, according to people familiar with the matter.

Dawn Miller is to join Lloyd’s as its new commercial director in a role set to begin in Q2 2022.

The disruptions created by the pandemic, natural disasters and a shifting workforce in the past year have challenged insurers to respond to market uncertainties with speed – at scale.

It’s been a hit and miss for Usage-Based Insurance (UBI) in Canada since it was first introduced about a decade ago, but brokers believe it will survive well past the pandemic-induced uptake of the past two years.

Key trends that will drive digital transformation in the insurance market in 2022 include, trackable hybrid working, increased customer demand for digital services and more M&A activity.

Blockchain-based insurance is expected to transform claims administration, according to a new report by Juniper Research. Specifically, researchers expect blockchain-based insurance claims to exceed $10 billion in cost savings globally by 2024, up from $1.1 billion in 2021.

Change and disruption are constants in today’s world, but they continue to gain intensity and breadth across the industry.

High-tech companies like Israel-based Lemonade stormed Wall Street promising to reinvent the staid insurance industry, but their plummeting share prices tell a tale of disappointment.

The digital insurance platform conveniently connects mortgage and real estate companies’ customers with homeowners’ and term life policies suited to their specific needs.

From the rise of embedded insurance products to record-breaking InsurTech financing, 2021 was a remarkable year for the global insurance industry.

There are some negative phenomena that are foreseen for the following year, which are part of the ravages that this pandemic has left.

What should you do if a forest-based carbon offset project you have invested in burns down? This is not simply a dystopian hypothetical question. It has already happened in the U.S. and it is expected to become a more common occurrence as climate-induced wildfire risks increase in the coming decades. But could a potential answer to this problem be to simply “make an insurance claim”?

This week, we spoke with Pierangelo Campopiano, CEO of Smile Direct, about the possibilities offered up by fundamentally reimagining insurance distribution. We discuss digital ecosystems, gameification of insurance and the potential for ‘freemium’ insurance products.

Investment in technology will ramp up in the coming year, impacting every aspect of insurance companies’ operations, from internal processes to the products and solutions they deliver to customers.

Wherever you go, whatever you do, cyber risk is always following you. From phishing attacks sent via email and opened on your phone to someone gaining access to your network using a smart appliance in your home, cyber risk is a growing and ever present risk.

Insurtechs that specialize in cyber risk can take numerous paths — with their future dependent at least in part on their investors’ patience — but not all will survive, experts say.

A recent report by the International Federation of Red Cross (IFRC) found that since the 1990s, there has been a 35% increase in climate and weather-related disasters. Since March 2020, when the World Health Organisation declared a global pandemic, there have been 100 such disasters affecting 50 million people worldwide.

Imagine your banking app, based on your purchase history within it, offering pertinent insurance products. This could very well be the norm moving forward, if the results of a Cover Genius poll are anything to go by.

Insurance does not exist in isolation. More and more, it is intrinsic to the business models of partner organisations, enabling new kinds of activities and new ways of working – a reality recognised by the Connected Insurance & Ecosystems category at Accenture’s Efma-Accenture Innovation in Insurance Awards

The further we move into the 21st century, the bigger the role technology plays in the insurance industry.

Slow and steady growth has been the mantra of Zywave in the UK since its inception, and the UK-based arm of the business has steadily grown a robust customer base of around 150 clients over the last decade.

Telematics technology is a “total game changer” for the future of the auto insurance industry.

The COVID-19 pandemic is accelerating the transformational trends impacting the insurance sector and highlighting the need to take bolder actions in areas such as digital capability and effective engagement to address the customer’s needs post-pandemic. Over 90% of companies in the sector report that the changing technology and competitive landscape are directly influencing their divestment plans.

After an initial surge, the number of clients taking advantage of virtual claims processing has dipped. For insurers, now is a critical time to evaluate their processes and figure out how to properly provide a touchless experience, says a recent report.

While the full potential of blockchain is yet to be revealed, its far-reaching applications, in combination with adjacent technologies, has the potential to transform every industry—including insurance.

Ping An Life’s reform is driven by a combination of digital empowerment and a “heartwarming” value system, said Peter Ma, Chairman of Ping An Insurance. Mr. Ma spoke at the 25th Ping An Life Insurance Summit in Chongqing.

Digitisation will disrupt the traditional life insurance sector in 2021 as Millennials and GenX embrace financial protection and ‘embedded insurance’ products, according to technology investment bank ICON Corporate Finance which recently secured £5m Series A funding for innovative InsurTech start-up Anorak.

The ongoing global pandemic has brought the health insurance industry into the spotlight. Over 80% Indian population does not have any personal health insurance cover and the others are heavily dependent on their employers for insurance and other regular welfare benefits.

Traditional insurers have never faced as much competition for their customers’ attention as they do now.

In a counterintuitive twist, technology can go a long way toward humanizing the life insurance industry.

Though the insurance industry can be slow to adopt new technologies, with the past year bringing new challenges to businesses, the rest of 2021 is insurtech’s time to shine.

A new report from Accenture says Australian and global insurers should work towards building an “intelligent, data driven” operating model to elevate business performance.

AXA UK Retail Insurance has appointed Marco Distefano as Managing Director for Motor and Home and Anna Fleming as Chief Operating Officer.

Steve Jobs trained consumers too well, says Kjell Gruner, the new president and chief executive officer of Porsche Cars North America Inc. And now car companies have a lot of catching up to do to match Apple Inc.’s standards for user interface.

In our newly released webinar, The Principles of Claims Efficiency, FRISS and co-founder Christian van Leeuwen teamed up with Karen Mican, Chief Claims Officer at RSA Canada, and Ben Allen, co-founder and CTO at Laka, to answer some of your most pressing questions on claims efficiency.

Today Munich-based insurtech insureQ announces raising a €5 million seed round led by Nauta Capital, with existing investors Flash Ventures and GFC also participating.

Insurance markets are competitive (and getting more competitive with new market entrants), and insurance products are complex (and getting more complex with changing customer expectations).

Lloyd’s announced the next 11 InsurTech start-ups that are participating in the sixth cohort of its Lloyd’s Lab innovation accelerator program.

The insurtech sector has emerged as one of the most significant players in the UK’s fintech industry, continuously reaping investments, even amid a myriad of economic disruptions caused by the pandemic.

Insurance has always been a valuable option for those looking to protect themselves from potential threats, and the pandemic has even further reenforced the importance of preparing for the unexpected. However, some customers have been deterred from enrolling in insurance coverage with traditional companies, due to barriers like complicated coverage options and unclear eligibility requirements.

New UK brands include Lloyds Bank, Love To Rent, Moovshack, OpenBrix, Utilita and Movinghub, with many more to come in 2021

As technology has reshaped the world in recent years, it’s also become an integral part of the financial industry. The emergence of financial technology companies, or fintech for short, has changed the way we spend money, take out loans, and track our budgets.

Blockchain has gained a lot of attention in recent years. It has the potential to transform how insurance companies operate in this evolving digital age