Insurtech in Europe: H1 2021 in review
What a first half of the year in the European insurtech scene: over €1.7B was invested across 52 deals. That’s basically more than 2019 and 2020 combined!
July 23, 2021
7:21 pm
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What a first half of the year in the European insurtech scene: over €1.7B was invested across 52 deals. That’s basically more than 2019 and 2020 combined!
There are several triggers – or what we call cloud archetypes – that typically push clients to move to the cloud. Most revolve around the need for greater speed and to create greater value, though the actual mix varies depending on each client’s circumstances.
While the need for permanent insurance cover (e.g. whole life insurance and health insurance) will always remain, people will continue to need special-purpose insurance in life.
During these unprecedented times, significant challenges have ascended to the top of the insurance industry’s agenda and left many carriers puzzled about how to navigate the road ahead.
COVID-19 has made people acutely aware of the pressures placed on health professionals and insurance systems. Insurtech solutions that alleviate this are valuable, a point recognised at this year’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.
Thanks to four trends, AI can improve efficiency and cycle time and meet policyholder expectations for a streamlined, digital auto claims experience.
Short-term insurers say they went above and beyond for their customers in the past year and aren’t greedily gobbling up savings from lower claims.
The ‘digital revolution’ has driven insurer success and made the industry more efficient, more profitable and more accessible to customers – however, Delta Insurance COO Kent Chaplin says it has also created new challenges within the sector, and has ramped up competition between new and existing insurers like never before.
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