Industry Trends

COVID-19 has given direction to insurtech trends to lean towards digital solutions. If the pandemic has taught us anything, it is that we cannot really make accurate predictions about the future. However, it has also been a major catalyst of change as several industries underwent rapid and rampant transformations. These changes have now translated into the ‘new normal.’

Afilio, a Berlin based Insurtech, has secured USD13 million in highly competitive Series A funding to support the expansion of their ‘Peace of Mind-as-a-Service’ platform offering users digital estate management services.

When a human being or even an animal faces risk, there can be one of two reactions – fight or flight. Risk is inarguably ubiquitous and something that most of us deal with on a daily basis. However, rather than fight or flight, sometimes the best way to deal with risk is to buy protection. And, this is where the insurance industry plays an integral role.

India is the second-largest insurtech market in Asia-Pacific, accounting for 35 percent of the US$ 3.66 billion insurtech-focused venture investments made in the country, according to S&P Global Market Intelligence data.

Insurtechs have stepped up to turn the $5 trillion insurance industry on its head. This radical upheaval hasn’t happened yet. But the insurance industry’s tech monopoly has already begun.

Chubb chairman and CEO Evan Greenberg has been a voice for the (re)insurance industry throughout the COVID-19 pandemic. As leader of the world’s largest publicly traded property and casualty (P&C) insurer, Greenberg has used his platform to speak out about the “impossible” task laid at the feet of the insurance industry – to cover the cost of the global pandemic alone. c

In the last year or so we’ve seen a number of insurtech startups go public, including Root (auto insurance), Metromile (car insurance), and Lemonade (rental insurance). But should we be worried?

What a first half of the year in the European insurtech scene: over €1.7B was invested across 52 deals. That’s basically more than 2019 and 2020 combined!

Short-term insurers say they went above and beyond for their customers in the past year and aren’t greedily gobbling up savings from lower claims.

As the “next digital pandemic,” cyber risks are increasingly becoming a problem for insurers themselves, according to an industry expert.

Specialist managing general underwriter (MGU) Carbon has promoted Director Nick Tye to lead as Chief Executive Officer, succeeding Stephen Card in the role.

In today’s age, the best way for many businesses to move forward is to embrace digital transformation.

The pandemic has heightened financial inequality, climate change risk and the threat posed by ‘zombie’ companies.

“It was the best of times, it was the worst of times.” The introduction from Charles Dickens’ “A Tale of Two Cities” may be an apt description of today’s property insurance landscape. While numerous opportunities exist, insurers face a variety of challenges—some often unforeseen.

Sønr’s chief executive predicts that insurtech M&A will double in 2021 – so far, 45 deals have been completed in the first six months of the year.

Insurers lose billions each year due to losses caused by major catastrophes like earthquakes, floods and storms. In 2020 alone, Aon estimated that insured property losses from natural disasters in the U.S. climbed to around $74 billion in losses, much higher than the 10-year average.

You can add another item to consumers’ pandemic shopping list: life insurance. The number of life insurance policies sold jumped 11% in the first quarter from the same time a year ago, according to the industry research firm Limra.

Jérôme Itty knows all too well the challenges of onboarding new hires in a remote work environment. “I’ve experienced it myself,” said AXA XL’s chief operating officer in the Americas.

The insurance revenue landscape is shifting in a myriad of fast-acting, unexpected ways. In our recent Insurance Revenue Landscape 2025 study, we were able to analyze customer demands to understand the trends shaping global revenue pools. Based on this research, we predict that the insurance industry will be influenced by the following four areas of innovation.

Bright Health Group Inc. shares began trading on the New York Stock Exchange Thursday, the latest issue to test investors’ appetite for new health-care companies that have yet to show profit but are aiming for high growth.

While most insurers offered financial relief for customers, a more limited number of insurers launched financial assistance specifically for agents and partners.

The expectation that hundreds of so-called zombie companies will fail over the next few years and drag on the economy is among the major concerns prompting insurers to reduce risk and charge higher premiums, a trend likely to continue as failures increase, Swiss Re AG said on Tuesday.

Usage-based insurance (UBI) has finally come of age in the US insurance sector. Insurers have spent the last 20 years exploring the potential of telematics with alternating curiosity, commitment, and disillusionment.

The insurtech companies featured on the 2021 Forbes Fintech 50 are innovating in a space that has long been associated with antiquated processes and practices—and lots of paper.

Data has always been of high importance to insurance companies when undertaking multiple basic functions. With digital transformation taking over, insurance technology is in the spotlight as a growth concept in the sector.

Mike Karmilowicz of Everest Insurance shares details about his company culture, the threat of cyber and how technology will impact the insurance industry going forward.