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For many of those outside – and even inside – the industry, insurance and innovation may not seem to go together. Yet, rather quietly, most large insurers have been ramping up their innovation spending over the past decade.
As the impacts of climate change rise and interest in renewable energies peaks, sustainability is becoming a central priority for businesses across all sectors – but insurers have the edge in terms of providing long term solutions.
The huge sums being invested in insurtech have yet to disrupt the insurance sector in the same way that fintechs have changed banking, says Germany’s BaFin markets watchdog.
The insurance industry is said to lag in the era of digitalisation. Insurers were told to ramp up digital efforts in order to meet rising demand during the pandemic – and it turns out this was the push they needed to break free from traditional broker-based insurance.
They say insurance is a product that is sold not bought – and as a result, we often spend a lot of time focused on the buy-side: the risk landscape of potential customers, their coverage gaps, their servicing preferences… their apathy even.
Looking toward 2022, health insurers are going to be wrestling with all the ways COVID has transformed the health insurance industry and what it means for coverage, pricing and patient care for the years to come.
Insurance is evolving at an extraordinary rate. Gone are the days of maintaining the status quo while speculating what the future of the industry may or may not look like.
To understand the current and future coverage opportunities, along with the challenges yet to be addressed, this article delves into the present status of AVs and where the industry is likely headed over the next decade.
These are challenging times for personal and commercial auto insurance leaders: Trends that were already in play have been accelerated by the COVID-19 pandemic, and the level of competition is forcing insurers to do more with less.
Small business customers are demanding more service from their agents, but with the right technologies and carrier partnerships, agencies can elevate their customer service game without adding to their workloads.
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