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Americans have experienced an unprecedented leap in digital adoption over the past year and it is unlikely business will ever go back to “normal.” Insurance companies need to take notice and adopt new technologies as well or risk failure, explains Paul Ford, CEO of Traffk.
Blockchain has gained a lot of attention in recent years. It has the potential to transform how insurance companies operate in this evolving digital age
Zego, the insurtech that got its start by offering flexible motorbike insurance for gig economy workers but has since expanded with a range of tech-enabled commercial motor insurance products, has raised $150 million.
Data and analytics firm GlobalData expects COVID-19 to be far and away the most important theme for the insurance industry in 2021, but that sustainability will continue to be an essential long-term issue.
Insurance providers have long struggled to incentivize behaviors that minimize risk — and thus save everyone money. In the past ten years, however, insights from behavioral science have given providers a new framework for encouraging healthy behaviors. Connected devices can translate those behaviors into cost savings.
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.
While the pandemic has forced the industry to embrace agility amid resource constraints and pressure to maximize revenues, it must not distract from the customer-focused forces driving cloud adoption in the first place.
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.
From flooding to social unrest, we offer our international experts’ predictions on the opportunities and challenges that the property insurance market may face in the coming year and beyond.
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