Consumer expectations and preferences are changing in distinctive ways, although this shift varies across different types of consumers. Age, gender, location, income level and occupation all influence insurance expectations. However, the most important determinant is personality.
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When you put the ‘Customer First’, you start with anticipating what the customer will want, ensuring you provide it and then navigating the customer through it
“Specific and deep.” That is the type of service brokers need to be providing their clients in the cyber insurance spaces, says Shannan Fort, partner, financial lines, cyber at McGill and Partners. To be successful, brokers need to clearly understand their role and have a firm grasp on the remit of their responsibilities.
There have been many changes in the modern tech stack, including new automation tools. However, if insurers want to leverage data successfully, their teams need to overcome a few key obstacles.
The InsurTech ecosystem in Asia is relatively smaller as compared to that in Europe and North America. However, the InsurTech industry in Asia has witnessed a significant boom in 2020. According to Venture Scanner, Asia’s largest InsurTech hub is Singapore, followed by Indian cities Mumbai and Gurgaon.
Given the infrequency of customer contact with insurance carriers ‘being there’ becomes more important when it matters, but it means different things to different customers.
Whether it’s AI-enabled bot or self-servicing insurance portal for customers, all-digital offerings have been designed to enhance customer experience and reduce time for servicing them and facilitating new business and renewal transactions
Many recent perspectives have declared that COVID-19 is a game-changer for all industries, and insurance is no exception. Our recent research on the Payback on Digital Innovation and our Insurance Consumer Study continue to highlight the drive to cloud, the importance of sustainability and customer demands for digital, personalized experiences.
What are the main Insurtech disruption trends of 2021? In this article four of the UK’s leading insurtechs discuss the decline of traditional insurance and the rise of disruptive innovation in the sector
In Europe and across the world, there’s hope that life will start to return to normal this year. But although people may begin to work, socialise and travel as we used to, the way we purchase insurance – and indeed what we want from our insurers – will never be the same.
Ecosystems provide a win-win opportunity for incumbent insurance carriers, InsurTechs, and service providers by enabling them to operate in a coordinated fashion and devise competitive insurance offerings by opening new avenues.
Customer experience and distribution innovations appear to offer North American insurers the best return on their innovation investment dollars, according to our analysis. Since agents are largely responsible for the customer experience and expanding distribution, we recommend insurers focus their investments on innovations that will support the work agents do.
Over the past year, we’ve fielded many questions from clients about digital decoupling – in particular, what it means and the business impact such a transformation can have. Those questions stem from the seismic shifts upending insurance, a sector in which change used to be measured in decades.
Behind every new idea is a problem that needed solving. For Tahir Farooqui (pictured), founder and CEO of Canopy, a London-based insurtech providing of services the rental sector, his business concept was inspired by his experiences renting in a myriad of locations. Between living in the UK, Australia, New Zealand, Europe and the US, he said, he found that renting was tough and that the financial services sector has tended to underserve the renter – and thus Canopy was created to combat that trend.
Supercede co-founders Jerad Leigh and Ben Rose believe there is “real opportunity” for their firm to become the primary digital ecosystem in the reinsurance space, which they say has historically been overlooked by technology.
Oscar Health Inc., the digital health-insurance company well known to New Yorkers thanks to a subway advertising campaign, is going public in a deal that could value the company at up to $8 billion.
AI is a science. Customer centricity is an art. The ability to blend the science of digitization with the art of the company’s philosophy of ‘Caringly yours’ to offer human-centric digital CX is what makes a sustainable model
Ecosystems can enable insurers to become more digital, efficient and agile as they seek to achieve breakthrough growth.
As the world hopefully starts to open up again this year, organizations are going to be increasingly pressed to balance their service needs across different channels.
Global re/insurance broker Willis Towers Watson has released a report which explores how COVID-19 and the trend towards the digitisation of medicine is resulting in a rapid technological change.
The pandemic not only forced employers to drastically change the way their employees and businesses work, but also caused a “digital divide” that could negatively impact employees’ work experience, a new study has found.
As an industry, we still use too much paper. But what digital tools do we really need, and where are the real changes in insurance innovation? Is it all buzzwords?
Becoming an AI-driven business requires contributions from your entire workforce. While the transformation takes time, several tactics can begin democratizing AI now.
Whereas COVID-19 has essentially altered the longer term workforce, instruments like AI assist get it again on monitor.
Insurers have lagged other sectors in implementing AI, leaving a gap for tech-centric firms, such as insurtechs and big techs, to disrupt the space.
In the race to head off competition from InsurTechs and deliver sophisticated digital experiences, insurers must ensure they continue to meet the needs of different customer groups.
There have been very few positives that have come out of the recent epidemic that’s swept the world. But one glimmer of light has been the acceleration of digitisation in organisations, a boost caused by staff having to work from home.
The World Health Organization declared COVID-19 a global pandemic nearly a year ago. Since then, efforts to slow the spread of the virus have caused seismic shifts for insurers and their customers.
For those of you who love music like I do, you will hopefully agree that one of the best songs by the rock band Queen was “Under Pressure,” co-written by the famous David Bowie. The story is that the collaboration was creatively different as the vocal was constructed in a very novel way in one night, where they all contributed different pieces of the song musically and vocally and then put it together to create what is considered one of the greatest hits!
Digital disruption continues to change the game in the insurance industry, with Covid 19 accelerating the process – leaving the industry faced with a paradigm shift in a world powered by technology.
Many countries in Europe have in previous years experienced increased price competition for general insurance products. Especially in Southern Europe, the competition has been very fierce, fuelled by online price comparison websites. In Spain, Portugal and Greece, there has been a substantial drop in average premiums for products like motor, home and health insurance. This poses a real threat to the profitability of property and casualty insurers.
Insurers in 2021 will be doubling down on streamlining, reinforcing their core businesses and updating technology, and M&A will help them get there as it did in 2020, according to a new Bain & Company report.
Miloslavsky talks about the insurance platform as the vehicle for processing across lines of business, integrating an ecosystem of external capabilities, and delivering a customer experience on a par with top retailers.
Despite the contraction in the retrocession market in recent years due to CAT losses, the reinsurance market remains a very attractive option for capital market investors to deploy their capital, and an important strategic tool for reinsurers. Non-CAT insurance risk retrocession using AI-based risk modeling technologies can inject life back into the retrocession market.
Many insurance companies are seeking and actively developing digital technologies to streamline their processes, assess risk better, reduce cost and increase customer satisfaction.
From transport networks to utility companies, insurance for AIs could unlock huge benefits for industry and consumers alike
Incorporating external, or third-party, data is an important part of data analytics programs as companies look for strategic insight from outside their firms.
Sweden’s Insurely Raises €2.5M to make the Insurance Industry more Transparent, Accessible; Here’s How
Stockholm-based Insurely, a digital insurance platform, has raised €2.5M in a fresh round of funding. The round was led by Swedish venture capital firm Luminar Ventures.
The question is not whether the future of the insurance industry is bright. “Few industries are better positioned for outstanding growth over the next 15 years,” insists Verisk’s Mark Anquillare.
Insurance industry leaders have renewed their focus on recruiting, hiring and promoting not just to fill a crucial talent gap with quality candidates, but also to intentionally diversify their workforce.
Prior to the COVID-19 pandemic, independent insurance agents were uniquely placed within the market. Amid a surge of companies looking to disrupt the industry with a focus on technological innovation and end-to-end digital accessibility, independent agents catered to a demographic that valued a more personalized approach.
Automating processes can open up more time for quality interaction between claims professionals and policyholders.
In recent years, insurers have sought to digitalize their processes and improve their customer experience, making it more seamless and tailored to the needs of today’s consumers.
As technological innovation continues to pick up pace in the insurance industry, focus on upgrading underwriting toolkits is growing.
One of the toughest moments of a break-in or disaster is losing your stuff. The U.S. saw 1.2 million property crimes in 2018, two-thirds of which happened at homes and apartments, and 387,000 fires at homes in the same year.
Oscar Health filed preliminary paperwork for an IPO on Friday. The health insurance startup is betting that its technology can give it an edge as it fights for market share with bigger competitors.
Last year, Getsafe launched in the UK – marking the start of the company’s expansion into new markets. Despite the challenges presented by the global pandemic, Getsafe pushed on with its agenda, including gaining $30 million in new funding and beginning partnerships with leading price comparison websites. It’s time to look back on 2020.
If anything, 2020 was about preparing for – well, everything. This includes cyberthreats, which have risen sharply in the pandemic era. In 2021, rethinking your cyber insurance strategy should be a top priority for CISOs and executive leadership.
The future of insurance distribution has been hotly debated in our industry for decades. Bold predictions several years ago prematurely declared the “death of the agency model” to be largely replaced by direct (and then digital direct) distribution.
Majesco’s survey report, ‘Strategic Priorities 2021: The Insurance Industry Shift Hits Hyper-Acceleration for Digital Business Models,’ the first of two reports, makes observations crucial to an understanding of priority shifts driven by the pandemic and other factors.
Cloud technology offers a saving grace for the insurance industry which has been slow to adapt to change. Insurance is years behind its peers, where legacy systems dominate and old technology systems fail to allow companies to meet customer demand and truly innovate.
As consumer technology companies continue to build out AR capabilities and telecom providers build out 5G infrastructure, the barriers to entry and challenges associated with launching AR initiatives will be lessened.
Managing general agencies (MGAs) in Canada are currently engaging in very little mergers and acquisitions activity among themselves because the market is still growing organically and is less mature than in other countries, the managing director of the national MGA trade association told Canadian Underwriter recently.
Faced with serious competition from a new breed of tech-savvy startups and mounting consumer expectations for efficient digital experiences, the insurance industry — long seen as slow to embrace innovation — has for years been investing in digital transformation.
With benefits such as better risk management, reduced claim cost and new sources of revenue, digital ecosystems can drive greater economic value and relevance for today’s insurance companies.
The effects of the COVID-19 pandemic will be felt by the insurance industry and its customers well into 2021 as consumers and businesses continue to face economic challenges, according to a new survey by consumer credit reporting firm TransUnion.
2020 offered a blend of threats and opportunities to the UK insurtech market and 2021 looks set to maintain the status quo. Offering his perspective on what the year ahead will hold for the sector, as well as for Insurwave, the insurtech platform of which he is CEO, David Power (pictured right) highlighted that the key challenge surrounds communication.
The desire to travel is strong. While lockdowns, travel restrictions and ongoing Covid-19 outbreaks have seriously hampered our wanderlust in 2020, vaccinations give us some optimism for travel in 2021.
Customer experience and customer service are the holy grail of businesses. And yet, CX in insurance is often lagging behind. The customer-facing leg has been digitized, but the issuance operations and internal processing leg are still old-school.
Boston-based insurtech start-up Breach has announced the placement of a crypto-denominated cyber insurance policy with CoinList, a full-service token sale and crypto trading platform. Breach said the policy was an industry first.
Big Tech companies are breathing down the necks of insurance companies. Giants like Amazon, Apple and Google have upped their innovation games in recent years, setting the customer experience bar higher than ever with their data-centric, consumer-focused business models.
With the outbreak of COVID 19, the use of telehealth services for health diagnoses and treatment surged in 2020. In fact, according to the Centers for Disease Control and Prevention, during the first three months of 2020, the number of telehealth visits increased by 50%.
Almost one year into lockdown and with no end to restrictions likely for the foreseeable future, the outlook for many does seem bleak. But there are silver linings that are becoming increasingly evident. One of the most apparent is the sheer display of true British resolve, where people have found innovative ways to start their own small businesses after being furloughed or made redundant.
Accenture research suggests that for North American insurers, customer experience and distribution innovations deliver the best returns. Since agents play an outsized role in the customer experience and expanding distribution, we recommend insurers focus on innovations that will empower agents throughout the customer journey.
3 Ways to Address Cyber Risk and the Pandemic: What You Must Do to Keep an Eye on This Expanding Risk
The total number of global ransomware reports increased by 715% in the first half of 2020 year-over-year, according to Bitdefender’s Mid-Year Threat Landscape Report 2020.
“AI will be life-changing for insurance companies and consumers alike, raising the question of how regulators can ensure that models and algorithms and machine learning don’t simply scale-up the bad practices of the past,” writes Andrew Mais, commissioner of the Connecticut Insurance Department.
A new report by Travelers reaffirms the company’s belief that the auto insurance industry will play a “critical role” as lawmakers, regulators and society adjust to innovations in transportation, including the shift towards autonomous driving.
Increasingly digital customers are demanding more from insurers. They want help preventing injury and loss. And insurers who re-invent their offerings with AI capabilities will be poised to deliver.
Innovation is integral to the success of an insurance company today. With the increased pace of change in society, climate and technology – exacerbated by the COVID-19 pandemic and the work from home era – innovation has become a core driver of the short-term and long-term success of insurers.
Experts looking at the InsurTech sector for 2021 see both more of the same and new things ahead. Some predict more IPOs, M&A and partnerships. Others expect new InsurTech ideas to fully take root, such as the embedding of insurance into every financial and retail transaction.
Adapting to new ways of working and thinking is never easy, but the insurance industry is ripe for a revolution, and it is up to industry leaders to understand the trends that will lead the way.
Beyond digital transformation based on largely proven technology, insurers must patiently explore the capacity of emerging technologies, such as AI and Big Data, for reshaping business processes over the longer term.
Findings from the Xpedition Innovation Equation Report clearly demonstrate the recognition amongst insurance professionals of the importance in delivering omnichannel customer engagement.
With assets under management of around €10 trillion, insurers in Europe have plenty of financial clout to drive changes that will promote sustainability earn them more trust among customers.
The insurance industry is going to have to get younger, more digitally savvy and come up with more versatile products. Oh, and employees will probably not be coming back to the office.
After a year of economic turmoil, the US emerged from 2020 with its insurtech crown intact. American companies accounted for 39 places in FinTech Global’s InsurTech 100 (2020) – almost double that of its closest competitor. Of the insurtech megarounds completed by the third quarter, 75% took place in the US, with insurtechs flourishing in startup strongholds like Silicon Valley and New York, and across the Midwest and South.
Accenture’s analysis found a high correlation between insurers with strong performance in top line, net income and market valuation and those who invested in two types of innovations:
This past year we have seen major companies, sports teams, and individuals making a splash by trying to push for social justice activities through their dollars, actions or statements. The one industry that has been relatively quiet in the arena—and the one that has been a quiet force around justice, safety, and responsibility for decades—has been insurance.
Assicurazioni Generali Chief Executive Officer Philippe Donnet is seeking to overhaul the top ranks at Italy’s largest insurer to increase control on key businesses and speed up growth, according to people with knowledge of the matter.
Today when we speak about digital transformation within insurance, it can sound like it is something relatively new. In actuality, technology has been playing a pivotal role in the insurance industry for decades.
As we look back on 2020 – and aren’t we all glad to be doing that? – it’s safe to say that the rate of change in the insurance industry accelerated at least tenfold.
Both startups and established players in the reinsurance industry are likely to have a strong focus on expense efficiency in 2021, according to Dmitry Mnushkin, President of Bermuda-based insurance and reinsurance software specialists, Treefrog Consulting.
Revamping procurement policies and procedures enables carriers to quickly strengthen their support for environmental and social sustainability.
The head of New York Life Ventures talks about the impact of the pandemic on the world of InsurTech investment.
Most Consumers Want Insurers to Handle Personal Cyber Threats as Pandemic Drives Digital Consumption, Accenture Report Finds
Three out of four consumers (76%) would welcome assistance from their insurer in dealing with cybersecurity threats as the pandemic drives more consumers online, according to a new report from Accenture.
Widespread concern is no surprise as rising insurance costs—coupled with sky-high verdicts—have also been cited as the reason many fleets have gone out of business. While many factors that contributed to rising rates are beyond the fleet’s control, there are ways to improve your company’s risk profile—and technology can help.
Carriers should use digital technology to drive initiatives that counter threats to sustainability while also improving the management of these resources.
We cannot wait for 2020 to be over. Despite what we all feared in March, insurtech has continued to flourish, with lots of capital supporting the sector in public and private markets, closer integration between incumbents and startups, and promising solutions for long-time needs in SME and cyber.
From dematerialization to personalization. From IoT to Machine Learning. From Virtual Reality to gamification…and more. Here are the top 10 digital trends for insurance.
At the beginning of the pandemic, there were perhaps few institutions that looked less well equipped to function under social distancing than Lloyd’s of London. Synonymous with antiquated practices and the primacy of dealing face-to-face, business at Lloyd’s should have ground to a halt this year.
With the re/insurance industry still reeling from the shock of COVID-19, data analytics provider Verisk Analytics says a focus on the future of claims is essential in order to adapt well to the pandemic.
Earlier this month, digital life insurance platform Bestow took a big step in expanding its carrier business nationwide by acquiring Centurion Life Insurance Company from Wells Fargo & Co.
Building a business from the ground up is often described as a marathon and not a sprint. But even the longest distance runners know that agility is critical, and the ability to be flexible and move quickly when an opportunity presents itself is just as important for those start-up businesses sprinting for growth as it is for enterprises on long-distance journeys.
Cyber insurance has been identified as a key growth area for London, according to a study conducted by the City of London Corporation and Accenture.
In an interview with Karen Webster, Hippo CEO Assaf Wand made the case that online platforms can solve the pain points of getting claims paid, but also set up a steady oversight of home maintenance that keeps trouble spots to a minimum.
According to CEO Christian Mumenthaler, Swiss Re’s new partnerships with industrial partners such as Daimler and Ikea aim to overcome people’s natural aversion to buying insurance policies.
One of the most crucial issues facing insurers is how to modernise their core platforms, which in most cases are unfit for the digital age.
The rise of the sharing economy has dramatically reshaped marketing thought and practice. The projected revenue from sharing accommodations and transportation alone will surpass $335 billion in 2025. The recent initial public offerings of Uber and Lyft exemplify this remarkable growth.
Sustainability ecosystems enable insurers to call on the resources and skills of a network of partners committed to building a sustainable future.
The unexpected, unprecedented events of 2020 have turned the world upside down. Like every business sector, commercial lines insurance has had to adapt and adjust throughout the year.
Insurance can act as a key tool in addressing pervasive cybersecurity vulnerabilities, but, according to one report, “Cyber insurance is not yet mature enough to fulfill its potential, partly due to uncertainty about what kinds of cyber risks are, or can be, insured.”
Insurtech company Cuvva is urging the insurance industry to make their coverage options more flexible for UK students travelling back home for Christmas.
Fred Kleiterp, Regional CEO for the EMEA region at Swiss Re Corporate Solutions, has expressed optimism about the prospects for the global re/insurance industry if it is able to “work together and share technology to innovate.”
It’s safe to say we have our physician, babysitter, personal trainer and dog walker on speed dial. But it’s unlikely that the average auto insurance customer knows the right number to call to reach their carrier in the chaotic moments following an accident.
Braxtone Group unveils new motor claims recovery platform after graduating from regulatory sandbox of Bahrain Central Bank.
In insurance, as in so much of life, timing really is everything. This has only become clearer during the COVID-19 pandemic which saw those companies which had already embraced remote working and digital communication channels reap the rewards of this investment when lockdown hit.
It’s not just tech behemoths who are invading the turf of insurers these days and giving the industry a run for its money.
If the last nine months have made anything clear, it is that the pandemic has fundamentally changed both buying and driving habits for UK motorists. The latest Tempcover research has revealed that online-only used car sales had increased fifteen-fold during the pandemic among 2,000 survey respondents.
According to Swiss Re CEO Christian Mumenthaler, the re/insurance industry vastly underestimated the cost of a global pandemic due to its failure to account for the extent of government lockdown measures.
Peter Jackson, Legal & General: When I was asked to write an article on big insurers and their digital transformations, I had to hit the pause button right from the outset to make the clear, if underappreciated, distinction between digital literacy and data literacy.
Insurance companies should pay close attention to insurtechs—not because they’re coming to attack, but because they’re coming to collaborate. For established insurers, insurtechs can be digital enablers that drive the adoption of digital technologies along the value chain.
Artificial intelligence technologies are everywhere. The great leap forward in AI over the past decade has come along with an explosion of new tech companies, AI deployment across almost every industry sector, and AI capabilities behind the scenes in billions of intelligent devices around the world. What does all of this mean for the personal lines insurance sector?
The need for employee engagement cannot be overstated. More engaged employees, according to a Stanford University/Ctrip survey, are more satisfied with their jobs. It also boosts productivity
Amid the economic turmoil of 2020, we’ve heard a lot about pricing adjustments on existing insurance products and about product innovations aimed at addressing new areas of risk
The Covid-19 pandemic continues to have an impact on every industrial sector as businesses and societies worldwide grapple with an ever-evolving situation. While some industries will be looking to embark on a recovery in the short-term, the Covid-19 impact on the healthcare sector will be long-lasting.
Over time, insurance has evolved from a product that is sold to a product that is bought, according to Christian Bieck, global leader of the insurance practice for the IBM Institute for Business Value, a research organization that provides thought leadership based on primary data and real-life case studies
Digitization is the industrial revolution of the 21st century. What does this mean for a data-driven industry like insurance? The answer is simple: Turn everything on its head and reinvent yourself under high pressure- the future of insurance is digital
With the pace of change InsurTech has driven—and which COVID-19 has accelerated—the competitive pressure for insurers to change has grown proportionately more intense
The race to fifth-generation (5G) wireless technology is on, with governments around the globe scrambling to support it. If they don’t, many industry experts believe, they risk losing out on the futuristic opportunities that 5G could make possible, from self-driving cars to smart cities that can point vehicles to the clearest roads. These advances also promise significant economic incentives: A 2019 study from IHS Markit predicts that by 2035, 5G will create 22 million jobs and generate $3.5 trillion in economic activity globally
The most effective way fleets can control their insurance costs in a hard market is to leverage telematics to drive out risky driving behaviors
Keeping customers informed requires systems that can clarify the different stages of the claims process, determine what’s needed and calculate what will happen next – and can deliver that information in a way that the customer can understand
While the COVID-19 pandemic has slowed business activity around the globe, for underwriters in the Lloyd’s market who were in the process of increasing property insurance rates when the pandemic hit, the timing may be auspicious.
Lemonade plans to start selling term life insurance in the next 90 days, adding to its current rental, homeowners and pet insurance offerings, the company said in an earnings report released late Tuesday.
Insurers that have successfully shifted to the cloud are set to capitalize on a surge in insurtech alliances triggered by the COVID-19 pandemic.
When I was a schoolboy, I would make a little extra pocket money by buying Creme Eggs in bulk from the local cash & carry and then sell them at a 100% profit margin in the school playground. Fast forward 30 years and it’s my daughter’s turn, albeit she is now designing, sewing and selling Covid face masks (and has launched on Instagram too). Whilst her profit margins aren’t as good as the ones I made on Creme Eggs, her online presence means she has the reach and potential to earn a lot more pocket money than I did.
Carriers that recognize and make use of the innovation capabilities that cloud services offer will outpace their competitors in the race to build expansive ecosystems. With enhanced agility and reach, they will seize many of the lucrative opportunities likely to spawned by ecosystems in the next few years.
Gort. The Terminator. Wall-E. HAL 9000 …and AutoML? Popular images of artificial intelligence can terrify, inspire, and amuse us – but the real thing, AutoML (automated machine learning or AML), often just confounds us.
Uber Eats, Grubhub and Other Delivery Drivers Need Insurance Coverage, So Why Won’t Regulators Mandate It?
As businesses have had to adjust how they transact with patrons in an effort to curb the spread of the novel virus, on-demand delivery drivers
Do we build or do we buy? It’s the question that all insurance brokers must ask themselves when working out their digital strategy. There are
Independent insurance agencies with a well-planned and implemented digital strategy stand a much greater chance of success in today’s tech-heavy, app-happy society. Things have been
Insurers who are prepared and who manage their IT investments with a business mindset of ecosystem integration will be prepared to convert these challenging days
Insurers have traditionally looked to develop new products and improve operational efficiency to remain competitive. While those remain important elements of any business model, the
How does the insurance industry gear for recovery while still operating in the challenging context of COVID-19? Is it possible? This is not the first
The drumbeat for insurtechs to pursue a merger, acquisition or partnership is getting louder, with the number likely to substantially grow in the months ahead,
Insurance companies can substantially improve the benefits they gain from cloud computing if they align their business needs with the products and services offered by
Technology is taking over the insurance industry like any other industry. Advanced insurance technology now centres the industry to benefit both carriers and insureds. Seeking
The insurance quoting process has changed shockingly little across the history of the profession. Back in the 1800s, carriers would deliver quotes via mail or
In 2012, Nigeria launched a National Financial Inclusion Strategy (“NFIS”) in which it aimed at reducing the percentage of adult Nigerians that are excluded from
The events of 2020, notably the ongoing COVID-19 pandemic, are set to fundamentally alter the way insurance will be viewed and as sentiment shifts, just
Deals are still getting done during the pandemic. But they’re coming with increased frequency of claims notifications. The mergers & acquisitions market is challenging for
The latest crop of InsurTechs began appearing in force around 2015, with promises to disrupt the insurance industry and change the world. Industry veterans have
Accenture (NYSE: ACN) has entered into an agreement to acquire Paris-based OpusLine, one of the leading consulting companies that provides strategic advisory and transformational services
Insurers can allay their fears about investing in new technology by making compliance a priority, getting all stakeholders aligned around digital transformation, ensuring the technology
Tesla Insurance – the auto insurance offshoot of Tesla Inc. – could become one of the largest auto insurers in America, if the unit’s valuation
On the back of several years of unsatisfactory returns and the added challenges of COVID-19, Willis Re’s James Vickers has said that the reinsurance market
How Indonesia is Pushing Medtech and Insurtech as Key Pillars of AI Blueprint to Improve Health Care
Online health care and medtech AI have risen in prominence in the country as the government seeks more equal access to health care Indonesia’s
Insurers can be a port in the storm for people during uncertain times, but they must shift their narrative and reimagine their offerings. More than
Technology and customer experience will play an increasing role in how insurers and their insureds conduct business. Here’s what the industry needs to know to
The drumbeat for InsurTechs to pursue a merger, acquisition or partnership is getting louder, with the number likely to substantially grow in the months ahead,
Health insurance startup Vitable Health announced that the company raised $1.6 million, led by the SoftBank Group Corp Opportunity Fund. The investment also comes
Ecosystems might be the single greatest opportunity for insurers to differentiate themselves in a period of rapid digital transformation, but only 5 percent of insurers
Peak Re Chief Executive Officer Franz Josef Hahn has underlined how the insurance industry must be an integrated part of working towards a better future.
The discussion is frequently dependent on product segments, but over time, value will be universal regardless of product complexity, albeit for different reasons. Artificial Intelligence
Carriers continue to plow ahead with investments in usage-based insurance. Metromile, a pay-per-mile carrier, has launched Ride Along, which allows prospective customers to test whether
Severity of claims seems to be growing for medical professional liability. Here are three things health care professionals need to be thinking about in order
With the launch of Amazon’s Halo, a health-focussed wearable, the first-party-data-fuelled company is setting up to disrupt healthcare – but the early steps it is
Which technology should InsurTech investors move away from, and what should they embrace instead? These are typical questions investors in the space (and others) must
“How do you get people to buy a product that they don’t want, but they truly need?” That’s the question written on the post-it note
In the wake of the COVID-19 pandemic, a new report from insurance and reinsurance marketplace Lloyd’s of London has called on insurers to build simpler
A new report from insurance and reinsurance marketplace Lloyd’s of London has urged the industry to work more closely with city administrators to improve risk
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