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2021 has been another groundbreaking year in the advancement of technology across many industries. According to the Willis Re Q3 Quarterly Insurtech report, more than US$10.5 billion was poured into insurtechs globally in the first 9 months of 2021 alone, with expectations that this investment trend will continue to increase in the coming years.
Digital and talent transformation accelerating as insurers adapt for postpandemic growth.
Change and disruption are constants in today’s world, but they continue to gain intensity and breadth across the industry.
High-tech companies like Israel-based Lemonade stormed Wall Street promising to reinvent the staid insurance industry, but their plummeting share prices tell a tale of disappointment.
The digital insurance platform conveniently connects mortgage and real estate companies’ customers with homeowners’ and term life policies suited to their specific needs.
Accelerant, the insurtech empowering underwriters with superior risk exchange and data analytics coupled with long-term capacity commitments, today announced it has raised in excess of $190 million at a $2 billion pre-money valuation led by Eldridge, with participation from Deer Park, Marshall Wace, MS&AD Ventures, and others.
As customer demands change, placing greater emphasis on digital channels, insurers must consider how best to adapt their businesses and processes.
With third-party litigation funding reaching $17 billion in 2021, companies and their insurers are likely to see an uptick in social inflation in the years to come.
Sustainability is an issue of global importance, with unique implications for insurers.
Germany suffered its costliest natural disaster on record last year, as flash floods led to damages that vastly exceeded the amount covered by insurers.
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