Insurance digitalization is a requirement, study
The macroeconomic challenges of recent years have shined a spotlight on the need for insurance companies to adapt to an increasingly digitized marketplace.
June 23, 2022
1:28 pm
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The macroeconomic challenges of recent years have shined a spotlight on the need for insurance companies to adapt to an increasingly digitized marketplace.
Crypto assets and quantum computing have been flagged by analysts at Swiss Re as two of the most significant emerging risks for insurers and reinsurers, with the potential to create new risks within the global financial system.
Israel’s insurtech ecosystem continues to grow and develop. Because insurance affects all facets of our lives, it is a multi-faceted industry that includes many nuts and bolts. Here is a complete map of the Israeli insurance / insurtech ecosystem:
Though insurtechs are recognized as a disruptive force in a long-established industry, less is known about the actual technologies these companies are using to differentiate themselves from traditional competitors.
Tokio Marine HCC – Cyber & Professional Lines Group (CPLG) offers hands-on assistance and a thoughtful, tech-driven approach to underwriting. Its success has landed it on IBA’s 2022 list of 5-Star Cyber Insurers.
The now familiar industry story is that big insurance companies with their juggernaut size and legacy technology find it very difficult to undergo a digital transformation to unlock all their data and improve customer service.
The demand for embedded financial services has been seen across the industry, with the insurance sector being no exception. Embedded insurance has the potential to remove the hassle from a purchase, create tailored products, allow the insurer total control of what they want to sell, and help close the ‘protection gap’.
Since I started my career three decades ago, there’s always been this paradoxical rhetoric about the insurance industry’s risk averseness, mainly stemming from the absence of a flurry of innovative products, services and processes.
A new report from Swiss Re states that reinsurers and insurers can play a key role in the development of the hydrogen economy through risk management knowledge and transfer.
Customer satisfaction in digital offerings from insurers declined this year, according to the J.D. Power 2022 U.S. Insurance Digital Experience Study.
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