Thought Leadership
We regularly curate the latest insights and reports provided by and in collaboration with our partners and stakeholders to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
Are Insurers Prepared for the Fully-Connected Future?
People are wired to gravitate toward ease of use, and fully connected partner ecosystems are a way insurers can deliver it.
Vertafore Unleashes Analytics for Agencies; MGA Mile Auto Raises $10.3M, Partners With Ford
Insurance agency technology firm Vertafore has released a product it says puts the power of data and analytics into the hands of independent agencies.
Incentivise me: Europe’s leading health insurers get personal
More than a year after the start of the COVID-19 pandemic, we’re also seeing big shifts in consumers’ expectations for health and life insurance. This has generated significant innovation from insurers.
7 Emerging Risks to Watch: Climate Change, Pollutants, Cyber Threats
Even the most vigilant insurers and reinsurers scanning the risk landscape for potential future liability problems are likely to fall into landmines.
Blockchain Will Revolutionize Insurance. Get Ready
Though still in its infancy in insurance, blockchain is poised to transform the industry.
Insurtech talk with Andy Tomlinson, chief operating officer at Cuvva: How treating customers better can fix the insurance trust problem
This week, we spoke with Andy Tomlinson, COO of Cuvva, on how customers are losing out in the current motor insurance equation, and how the industry can adapt to more discerning customer expectations.
Can Insurtech Sustain The Demand Rush For Employee Health Covers?
Health insurance is critical in nature, but a couple of years ago, it was more of a fringe benefit provided by startups (and other small enterprises) and not a key trigger for recruiting and retention.
Re/insurance industry must welcome disruptive innovation: Aon UK CEO Julie Page
Aon UK Chief Executive Julie Page has underlined the need for re/insurers to embrace and enable the disruptiveness of insurtech innovation, especially as the world attempts to recover from COVID-19.
Data key to improving insurance for SMEs
Collecting more data from small and medium-sized enterprises should improve the prices and terms their insurers offer them, according to panelists on an S&P Global Market Intelligence webinar.
The insurance back office is being revolutionized
AI, blockchain, analytics, BI, automation & emerging technologies will fundamentally change how risk is assessed, how products are developed & how customers interact with insurers.
Revival of Insurance: Accelerating Growth and Market Leadership with New Products and Business Models
As the industry continues a new digital awakening and adapts to market changes, new customer expectations, and global demands, those insurers willing to adopt a different mindset and leverage the latest technology to accelerate growth will accelerate their growth and position themselves in a new era of market leaders.
Picking up the pace of digital transformation with no-code
Digital transformation in insurance is a complex and challenging undertaking. But most problematic of all – the process is often extremely slow and siloed.
How ecosystems transform the insurance customer experience
More consumers are seeking life insurance today than in any time in decades. According to a LIMRA study, there are 60 million un- and under-insured households in the United States, representing a $12 trillion coverage gap and an enormous opportunity for the industry. But if insurers want to reach this underserved market, they need to up their games by providing consumers with personalized products offered through convenient digital channels.
Deep-dive on Cyber-security Insurance: How to go from nice-to-have to business critical
With the threat of cyber attacks looming larger than ever in the minds of business leaders, we investigate the current state of cybersecurity insurance.
5 Ways Carriers Can Build Strong Relationships with Their Brokers
Relationships between carriers and brokers are the foundation of the insurance industry. Here’s how to strengthen your partnerships.
Zurich takes ‘full advantage’ of hard market
Zurich’s Property & Casualty (P&C) gross written premiums (GWP) jumped 9% to $US11.03 billion ($14.17 billion) in the first quarter, driven by further improvement in pricing and strong growth in commercial insurance.
Insurtech talk with Janthana Kaenprakhamroy, CEO of Tapoly: Gig insurance solutions for the gig economy
This week we spoke with Janthana Kaenprakhamroy, CEO of Tapoly, about insuring the gig economy, founding an all-digital MGA and the future of platforms in insurance.
Risk-averse insurers need to embrace failure to find success: insurtech exec
Insurance companies, generally risk-averse, are not used to seeing failure — something they need to get used to when they work with insurtechs that are trying to create a better system for them, says one insurtech leader.
Digital communication helps insurers bridge the relationship gap
Traditional insurers have never faced as much competition for their customers’ attention as they do now.
Lloyd’s advocates human capital insurance solutions in wake of pandemic
A new report by insurance and reinsurance marketplace Lloyd’s of London has explored the potential benefits of human capital insurance solutions for workforce management in the wake of the pandemic and future systemic risks.
Insurtech talk with Generali’s Stefano Bison: How to modernise partnerships in a transforming insurance landscape
“The insurance industry needs to embed itself within an ecosystem of disruptors and technology to compete in a digitised financial services landscape” – This week, we discussed the future of insurance partnerships with Stefano Bison, Generali Group Head of Business Development and Partnerships.
Insurance organizations rank among world’s largest companies
Despite the huge economic impact of the COVID-19 pandemic, the global insurance industry was relatively unharmed, compared to other industries, such as travel and hospitality.
Supercharge your underwriting with data science techniques
The insurance industry is rich with data. Having the right information at the right time is critical for making important underwriting decisions, but all too often an underwriter can’t access the data that would be most helpful. A carrier’s data goes uncaptured, can be difficult to transform and store, or is inaccessible.
Moving beyond 2020: A review of how insurers pivoted during COVID-19
Like many industries, insurers made fast and dramatic changes in response to COVID-19 to keep operations running smoothly and customers supported. With vaccinations hinting at a return to “normal,” it’s a perfect time to do a data-driven post-mortem on how insurers responded to the pandemic. What actions were taken, what were the lessons learned and what do they mean for the future?
Willis Re’s data & analytics capabilities take Gallagher to ‘another level’, says CEO
Arthur J. Gallagher’s (Gallagher) agreement to acquire the majority of reinsurance broker Willis Re will take the company’s data and analytics capabilities to new heights, according to J. Patrick Gallagher, Jr., Chairman, President and Chief Executive Officer (CEO).
The diversity of digital platforms can divide digital strategy
The term “digital platform” is just as ambiguous within insurance as the term “digital strategy.” A wide range of solutions all market themselves as digital platforms, from development platforms and low-code/no-code toolsets to pre-built portals and even hubs and intermediaries.
New Data For Insurtech Has Lots Of Promise But Will Require Much Iteration
Life insurance is a unique product — even when compared to other consumer financial services.
For starters, a life insurance product, at its core, is all about managing mortality risk, which has a wide range of contributing factors and can take decades to emerge.
How to counter the evolving threat of cybercrime
In our latest webinar we discuss the threat of ransomware and cyber-extortion, how to engage SMEs in cybersecurity insurance and integrating cybersecurity into insurance verticals.
Underwriters Puzzle Over How to Make Pandemics Insurable Again
When much of the global economy locked down last year, insurers, facing estimated losses of more than $100 billion globally, reached straight for their red pens to strike pandemic cover from all new business policies.
Partner and Personalise: Consumer Trends in Auto Insurance
Propelled by the impact of COVID-19 on driving behaviour, the growth in consumer demand for personalised automotive insurance was particularly strong: 70 percent expressed an interest in pay-as-you-drive insurance where the less you drive, the less you pay. That compares with 52 percent two years ago.
New AXA XL CUO appointment for P&C, $2bn valuation for Ethos, Series C funding for Kin
Anish Jadav has been appointed Chief Underwriting Officer for AXA XL P&C in the UK, life insurtech Ethos Technologies Inc. has a more than $2bn (£1.4bn) valuation after a $200m funding round, and home insurtech Kin has raised $63.9m in Series C funding.
Why Sharing Economy Firms Just Might Be the Best Insurance Customers
Imagine insurance customers who actually enjoy meeting with their insurance broker. Customers who see insurance not as a nuisance mandate but as an integral part of their own and their customers’ success.
AXA XL Names New Chief Underwriting Officer
AXA XL has appointed Anish Jadav as chief underwriting officer (CUO) for retail, property and casualty (P&C), UK and the Lloyd’s market.
WTW on the Benefits and Challenges of Moving to Digital Trading in the Commercial Lines Space
In April, Willis Towers Watson announced the launch of Radar Workbench, a new software product enabling frontline underwriters to make better decisions at pace and, more recently, Chubb engaged the services of WTW’s insurance consulting and technology business for advanced pricing delivery software. All in all, it’s been a busy time for Dave Ovenden (pictured), global head of product, pricing, claims and underwriting consultancy at Willis Towers Watson, and his team.
Series A for Sprout.ai, Amazon and Zurich partner for Middle East payments service, LexisNexis report on future of claims
This morning AI solutions provider Sprout.ai have secured Series A funding from Amadeus Capital Partners, APS and Zurich are partnering on a Middle East-focussed payments solution, and LexisNexis Risk Solutions have released their 2021 Future of Claims Report.
AIG CEO Zaffino Expects Life & Retirement Partial IPO by Year-End
AIG is full speed ahead with IPO plans for part of its Life & Retirement division and hopes to pull the trigger by the end of 2021, President and CEO Peter Zaffino said.
Machine Intelligence In Insurance: Insights For End-To-End Enterprise Transformation
COVID-19 has forced consumers and businesses to embrace virtual, contactless transaction modes to minimise infection risks. This trend has accelerated the digitalisation of processes, many of which leverage machine learning (ML) and artificial intelligence (AI).
Shift Technology CEO on $220 Million Series D Round
Jérémy Jawish discusses the company’s expanding product set, its focus on R&D and its vision to become an exemplary AI-focused insurance vertical software vendor.
AXA Partners and Insurance2go deal bolsters growth plans
AXA Partners has entered a new deal with mobile phone and gadget insurance provider Insurance2go – this supports the company’s growth plans within its existing brands and markets.
Spotlight on Arma Karma: Ethical contents alternative for ‘generation rent’
We spoke with Ben Smyth, co-founder and CEO of ethical contents insurer Arma Karma. We discussed engaging young customers, building bespoke products and taking on social responsibility in insurance.
This could be the key to the next insurtech unicorn
In our latest webinar we discuss record breaking Insurtech funding, the most promising Insurtech territories, and how to win over venture capital with amazing teams.
How APAC insurers are supercharging distribution
In today’s APAC webinar, we were joined by industry leaders to discuss what the future of distribution might look like in a post-pandemic landscape.
The Insurtech Revolution And How It Could Transform The Life Insurance Industry
In a counterintuitive twist, technology can go a long way toward humanizing the life insurance industry.
Christiaan Erasmus, CEO at SLVRCLD: Improving lives with automated content claims
Christiaan Erasmus explains how SLVRCLD are improving lives with automated and digitised P&C claims processes. What trends within the industry are we currently seeing, and what will the future hold?
Is Your Company Missing the Biggest Opportunity to Improve Underwriting Results?
An undisputed fact is that in the period from March, 2020 to present, business processes in almost every
industry changed significantly. Whenever a business process changes, so do the associated risks.
Ernie Bray, CEO at AutoClaims Direct: Why full automation is short-sighted
Ernie Bray is passionate about technology – he understands why there is so much potential behind AI, machine learning and video estimating. But, he cautions, there is a time and a place for tech. The touchless utopia some in the industry are wishing for has downsides, too.
Nicholas Piel, CEO at Surfly: How we’re making automation personal
Anyone who tried to work and collaborate remotely in the last year will have noticed that most solutions have drawbacks. Screensharing can be unsafe, connecting to legacy systems can be difficult. For Nicholas Piel, CEO at Surfly, the new way of working was a huge opportunity.
How a Digital Mindset in Pet Insurance has Paved the Way for Disruption
Digital disruption stems from initiatives in younger insurance markets, such as the fast-growing pet insurance sector, and we are now seeing traditional insurance sectors successfully adopting a digital mindset in areas such as claims management.
Integrate, Digitise, Transform: 3 Insurtech Trends for the Rest of 2021
Though the insurance industry can be slow to adopt new technologies, with the past year bringing new challenges to businesses, the rest of 2021 is insurtech’s time to shine.
Buffett on Whether He’d Insure SpaceX Mission: I’d Have a ‘Different Rate if Elon was on Board’
Berkshire Hathaway CEO Warren Buffett has a message about the insurability of Elon Musk’s future SpaceX missions. “It would depend on the premium,” the Oracle of Omaha joked Saturday during Berkshire’s annual shareholders’ meeting, live streamed on Yahoo Finance.
For Apollo’s New CEO, Insurance Is In—Racy Buyouts, Not So Much
Marc Rowan steers firm toward future as credit-investing titan catering largely to insurers with ample cash to park
A Promising Road Ahead for InsurTech
In the late 1980’s the car company Oldsmobile produced a television ad in which it touted its new models were, “Not your father’s Oldsmobile.” The idea behind the campaign was to show that the brand was evolving with the times and moving forward.
Insurtech and Artificial Intelligence
The rapid development of converging technologies is bringing about fundamental changes to the insurance industry. In the long term, organisations that are slow to embrace these new technologies will struggle to compete and to retain their place in the market.
Andy Fairchild: Taking advantage of technology in an intimate, advice-led way is ‘critical’
Trend-led brands will help establish the ‘winning insurance brokers for the next decade’
The Claims Experience is Ripe for Change
The life insurance industry has experienced a period of significant change over the last few years, unparalleled in recent memory.
Personal Lines Post-COVID: New table Stakes and Wildcard Prospects
COVID-19 has severely impacted how UK consumers go about their daily lives, and this has serious implications for the risks they face and how they buy insurance.
How AI Will Enhance Identity Management in Claims
Identity management has been an obstacle for commercial insurance companies for a very long time. Many thought that problems would dissipate or at least become easier to correct by moving to digital systems, but in reality, identity management has only grown more complex. It is obvious that we need a better way.
Insurance Leaders Use Digital for [Insert Anything Here]
Via Denise Garth, Majesco Let’s start with a warm-up exercise. Here are phrases you might find in any project meeting. Insert the missing words. “The
The Hartford Chapter “is Closed” Says Chubb CEO Greenberg
During insurer and reinsurer Chubb’s first-quarter 2021 earnings call held earlier today, Chairman and Chief Executive Officer (CEO), Evan Greenberg, said that “the chapter with The Hartford is closed.”
How Innovation is Paying Off for Insurance Leaders
The insurance industry as we know it is changing. In the wake of the COVID-19 pandemic, insurance carriers understand that they have to either innovate or fall behind. In this post, we will take a look at what that innovation looks like in practice and what industry leaders are learning about the art of innovating sustainably and at scale.
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