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Tesla CEO Elon Musk may be able to maneuver around the business world pretty well, but when it comes to challenges that are auto insurance-specific, there may be some hiccups along the way.
What should you do if a forest-based carbon offset project you have invested in burns down? This is not simply a dystopian hypothetical question. It has already happened in the U.S. and it is expected to become a more common occurrence as climate-induced wildfire risks increase in the coming decades. But could a potential answer to this problem be to simply “make an insurance claim”?
This week, we spoke with Pierangelo Campopiano, CEO of Smile Direct, about the possibilities offered up by fundamentally reimagining insurance distribution. We discuss digital ecosystems, gameification of insurance and the potential for ‘freemium’ insurance products.
Investment in technology will ramp up in the coming year, impacting every aspect of insurance companies’ operations, from internal processes to the products and solutions they deliver to customers.
Every day, it seems a hot, new insurtech is funded and ready to partner with insurance carriers. Insurers shouldn’t allow their risk-averse nature or concerns about a potentially difficult integration road ahead to lead them to ignore upstart insurtechs.
Several insurtech companies including Hippo and Metromile, amongst others, have merged with a special purpose acquisition company (SPAC) as a path to being traded publicly on stock markets. This approach became more popular in the past two years, as the COVID-19 pandemic led to companies seeking quick, efficient paths to growth.
Wherever you go, whatever you do, cyber risk is always following you. From phishing attacks sent via email and opened on your phone to someone gaining access to your network using a smart appliance in your home, cyber risk is a growing and ever present risk.
Insurance CEOs have a big strategic challenge: successful companies of the future will look very different than they do today.
In this series, we’ve been looking at the value digital twin data can bring to the insurance business. Specifically, I see there being four main areas where insurers could take advantage of digital twins to make material improvements.
Digital Insurance spoke with Thomas Kang, the North American head of cyber technology and media for Allianz Global Corporate & Speciality about cyber insurance trends and challenges ahead for the industry.
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