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What are the main Insurtech disruption trends of 2021? In this article four of the UK’s leading insurtechs discuss the decline of traditional insurance and the rise of disruptive innovation in the sector
In Europe and across the world, there’s hope that life will start to return to normal this year. But although people may begin to work, socialise and travel as we used to, the way we purchase insurance – and indeed what we want from our insurers – will never be the same.
Insurance businesses are “jewels” of the Berkshire Hathaway business, said chairman and CEO Warren Buffett as the firm’s Reinsurance Group reported huge underwriting losses in 2020.
Looking ahead, insurance regulators should be more likely to allow more significant technical advancement and use in the insurance industry since, during the pandemic, many innovations were allowed and successfully used.
The car insurance field is constantly evolving. Insurance companies must not only to respond to ever-changing and increasingly sophisticated customer needs, but also embrace new technologies and ways of doing business.
Insurers in 2021 will be doubling down on streamlining, reinforcing their core businesses and updating technology, and M&A will help them get there as it did in 2020, according to a new Bain & Company report.
The IPOs of several insurance companies, such as Lemonade Inc (NYSE: LMND), in 2020 may lead to additional companies in the sector hitting the public market in 2021. Companies could explore a traditional IPO or a SPAC deal to bring their insurance companies public.
Interoperability and Compatibility With insurance agencies resorting to the use of digital tools, insurers must maintain a common data environment and set protocols to achieve interoperability and compatibility across all systems.
Global re/insurer SCOR has made a call for re/insurers to help convey the broad health benefits of getting the COVID-19 vaccination.
The Indian government has announced its vision to make the whole nation free from toll plazas by 2023. The toll money would now get debited via the GPS tracking system installed in your vehicle.
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