We regularly curate the latest insights and reports provided by and in collaboration with our partners and stakeholders to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
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.
To survive these challenging times, insurers must be able to plan, model and predict the likelihood and impact of possible events.
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.
Firms struggle because they view AI initiatives as small projects rather than a product requiring continuing maintenance and investment.
With automated claims processing, the turnaround time for settlement will be measured in minutes rather than days or weeks.
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.
Please feel free to send us an email
news@insurtechinsights.com
