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The insurance industry is going to have to get younger, more digitally savvy and come up with more versatile products. Oh, and employees will probably not be coming back to the office.
After a year of economic turmoil, the US emerged from 2020 with its insurtech crown intact. American companies accounted for 39 places in FinTech Global’s InsurTech 100 (2020) – almost double that of its closest competitor. Of the insurtech megarounds completed by the third quarter, 75% took place in the US, with insurtechs flourishing in startup strongholds like Silicon Valley and New York, and across the Midwest and South.
Accenture’s analysis found a high correlation between insurers with strong performance in top line, net income and market valuation and those who invested in two types of innovations:
This past year we have seen major companies, sports teams, and individuals making a splash by trying to push for social justice activities through their dollars, actions or statements. The one industry that has been relatively quiet in the arena—and the one that has been a quiet force around justice, safety, and responsibility for decades—has been insurance.
Here are three tangible ways that low-code programming lets carriers accelerate change and provide new benefits to customers.
Assicurazioni Generali Chief Executive Officer Philippe Donnet is seeking to overhaul the top ranks at Italy’s largest insurer to increase control on key businesses and speed up growth, according to people with knowledge of the matter.
Throughout the last year, the COVID-19 pandemic challenged insurers to better understand customer needs and preferences while also accelerating digitization efforts.
Today when we speak about digital transformation within insurance, it can sound like it is something relatively new. In actuality, technology has been playing a pivotal role in the insurance industry for decades.
As we look back on 2020 – and aren’t we all glad to be doing that? – it’s safe to say that the rate of change in the insurance industry accelerated at least tenfold.
There are three key forces that the cloud can unleash: speed of operations, an intelligence premium and innovation.
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