InsurTech disruption could become a ‘black swan’ event: JLT’s Flandro
October 15, 2018. Intelligent Insurer
The speed at which technology is transforming the insurance industry means it could become a so-called black swan event for the industry – as opposed to technology being gradually implemented by the industry in an orderly way.
Women InsurTech founders tackle unconscious bias
October 15, 2018. Digital Insurance
The InsurTech phenomenon is currently plowing through the industry, introducing new ways of doing business and upending the status quo. But while the movement promises a renaissance of novel ideas related to the insurance industry, there is a notable absence in the faces behind the revolution: women.
Efficiency, InsurTech, Auto Uncertainty Drive Insurance M&A Activity, Says S&P
October 10, 2018. Insurance Journal
After one of the most active years for mergers and acquisitions in property/casualty and life insurance, market conditions point to a continued push for deals, according to analysis by S&P Global Market Intelligence.
October 08, 2018
Having in its first phase used science and technology to inspire a rethinking of insurance that is making insurance easier and more efficient to buy and sell, and improving customer experiences especially around claims, insurtech is poised for a dramatic sequel that will build on the first act theme that challenges present opportunities.
October 03, 2018
Plug and Play Insurtech announced today that 17 startups will join Batch One of “Insurtech Europe powered by Plug and Play,” an innovation platform formally launched on November 14, 2017 by Plug and Play Insurtech and Insurtech Hub Munich.
September 27, 2018
Crystal balls are too cloudy. Predictions are for pundits. What we need now is a solid memo from the future regarding InsurTech.
September 21, 2018
A total of 71 InsurTech funding transactions during the second quarter of 2018 marks a record high, although the total of $579 million invested is down 20 per cent against the previous quarter, according to Willis Towers Watson.
Plug and Play Singapore Announces First Batch of Startups Selected For Its Fintech and Insurtech Program
September 18, 2018
Plug and Play’s newest innovation platform, based out of Singapore, aims to create a multi-corporate Fintech and Insurtech program, running two 12-week accelerator batches a year. Plug and Play’s program has already announced partnerships with MSIG for Insurtech and with Krung Thai Bank and TVS Credit for Fintech. Their platform also seeks to be the primary innovation hub for financial services in the ASEAN region, centralized through the program in Singapore.
September 14, 2018
Throughout a number of the recent conferences I have attended and conversations I have had with my clients, colleagues and incumbents in the space, the question of “what makes an insurtech/innovation initiative a success?” keeps coming up. This week, I explore the critical success factor.
September 14, 2018
What is it with insurtech brand names? Among the insurtechs that SMA is tracking (well over 1,000) are a wide range of names ranging from the clever to the practical to the bizarre. Having personal experience with naming, I can understand the challenges of finding something memorable, not already used, and lacking any negative connotations.
September 13, 2018
Insurance services provider Charles Taylor saw a 95% drop in statutory profits in the first six months of 2018, due largely to the cost of consolidating its London offices, the firm revealed in its half year results..
Insurerance Business Magezine
September 12, 2018
The financial services arm of the German carmaker has partnered with the UK company in an attempt to modernise its insurance offering for customers.
September 10, 2018
Technology can help property/casualty (P&C) insurers achieve the 10 percent return on equity (ROE) that investors expect, according to the latest Swiss Re sigma study.
August 29, 2018
Advances in digital innovations and cutting-edge technologies as well as evolving customer preferences are creating the need for digital agility in the insurance sector.
August 16, 2018
While conferences are extremely valuable to attend, they also cost two things that not everyone has a lot extra of – time and money. Thankfully, there are a number of ‘hubs’ and ‘meetups’ around the US and world which individuals can attend for free or for a fraction of the cost of the major conferences.
August 13, 2018
InsurTechs are creating new, creative, and helpful tools to improve the customers’ experience in selecting, and using insurance products. However, there are risks for the start-ups and the insurers that are starting to rely on the InsurTechs. Is this improving the experience and maintaining the products’ viability?
August 09, 2018
If you haven’t figured out by now through my writing, I like the softer side of our business. A lot. Perhaps it is the ‘salesman’ in me and the fact that I have always been more relationship-focused than details-focused.
August 09, 2018
A combination of incumbent insurers wanting to update their propositions, and startups realising they require help scaling up, means the InsurTech space is ripe for partnership. This is according to the Association of British Insurers’ assistant director and head of strategy, data and analytics Matt Cullen, who suggested that the market is finally getting closer to making technology pay.
August 06, 2018
If you’ve got your eyes set on technology that won’t move the needle this year, it’s time to reevaluate what can provide bottom-line results in the short term. AI and machine learning will have their day in commercial insurance. But what are you doing today to drive tangible business results? Insurtech does not have to be a “pie in the sky” endeavor. It can be deployed right now.
Insurance Thought Leadership
August 03, 2018
The insurance industry is undergoing profound changes, driven by new customer expectations, emerging technologies, and sustained downward pressure on margin. Since 2015, insurtech players have boomed globally and while initially perceived as potential threats, these are now quickly emerging as enablers that can help incumbents drive new customer experiences and deliver more value, according to a report by Startupbootcamp and PwC.
August 01, 2018
In its latest Pulse of Fintech report, covering the first half of 2018, consultancy KPMG states that the rising participation in the market is manifesting itself most notablyin alliances geared toward embedding offerings in existing value chains. For example, AXA and ING entered a partnership earlier this year to create a holistic product suite including banking and insurance via digital.
July 25, 2018
Insurance is an invention of the modern age. In fact, its origins can be traced back as far as 4000 years to ancient times in Mesopotamia. Charlemagne, King of the Franks, is said to have introduced the concept of insurance to Europe by setting up guilds that would cover the ships of merchants in case of shipwreck or pirate attacks. This, of course, is the foundation of the most famous insurance market of the world, Lloyd’s of London, which was first established in the late 17thcentury in a coffeehouse that served merchants and ship owners with shipping news and turned into an exchange for marine insurance.
July 13, 2018
The bricks and mortar insurance broker is transforming. Today, some brokerages look a lot more like Google than an insurance brokerage. They have virtual employees driven by artificial intelligence (AI) who can provide slick and efficient customer service around the clock.
Insurance Business Magezine
June 20, 2018
When analyzing insurer-InsurTech partnerships, we looked at a total of 95 partnerships established by 25 incumbents with several InsurTech startups and categorized those partnerships across major areas of operations. While the number of integrations, scale, and areas of operations where those integrations are being tested today vary, integrations/technology adoptions are becoming common in every region.