Covid-19 has accelerated online shopping and customer convenience has become critical. But even before COVID, Wolt, Zoom, and current consumer habits, all the signs were there, way before the race for digitalization. In fact, shortly after the emergence of social media in 2003-2004, businesses realized its potential and started utilizing it for marketing and business purposes.

After strong growth in H2 2021, the number of deals in Europe dropped to 67 in H1 2022 from 74 in the previous six months. The UK was the most active country for M&A, followed by France, the Netherlands and Spain.

The economic viability of the insurance industry’s current business model has been under discussion for several years.

The insurance business is undergoing digitization, and that, in many ways, is fundamentally changing how the business is done.

In recent years, e-mobility has achieved a breakthrough in many markets around the world. The question is no longer if electric vehicles (EVs) are coming and will replace traditional powertrains, but rather how they are coming and when they will take over the largest share of the global powertrain mix. For details on how to differentiate between non-plug-in electric vehicles and plug-in electric vehicles, see below.

Cowbell Cyber, a provider of cyber insurance for small and medium-sized businesses, has announced the launch of its product on the Amwins Professional Lines portal.

The European electric vehicle (EV) market is experiencing unprecedented growth, with 2 million electric car sales in the first quarter of 2022, a rise of 75% compared to the same period in 2021.

Embedded insurance, a way for carriers to sell policies to customers at the point of sale of consumer goods, is quickly evolving, with “billions of dollars of potential” in areas like auto, home, and business insurance, according to an executive with Swiss Re, the world’s largest reinsurer.

The term “digital innovation” is used a lot. Within the insurance sector, it can describe everything from the digitization of a paper-based form to the digitalization of an entire workflow. It is often used interchangeably with “digital disruption” and the transformational change brought about by new entrants like insurtechs.

Insurers and insurance providers in the U.S. continue to see a number of key trends that are reshaping the way industry professionals analyze risk.

The pandemic has accelerated the digital transformation of the insurance industry. Driven by industry trends, customer expectations, and regulatory pressures, digital innovation has resulted in the creation of a new space called InsurTech that is aimed at the seamless delivery of insurance products.

“Awareness of insurance and its value has never been higher,” said Lloyd’s of London CEO John Neal, as he addressed delegates at the Marsh McLennan Rising Professionals’ Global Forum, referring to how recent events have shaped “the most uncertain landscape seen for generations.”

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.