The Insurance Model in 2035? On June 1, there was a high-level conference organized by the alumni of the three most prestigious business schools in France, HEC, ESSEC and ESCP Europe, whose title was “How to run an insurance company in the context of digital, societal and regulatory transformation?” The most burning issues were addressed with depth and perspective, including issues relating to the impact of digital revolution, the clash of generations and the new playground imposed by Solvency 2 on insurance.
Why Insurance Will Become Invisible You might want to take a mental snapshot of what insurance looks like, because children born today could make up the first generation that won’t know what insurance is. That’s not because insurance won’t be a thing; it will just look a lot different in 20 years. “Insurance will be much bigger, and there will probably be more — because there will be many more risks,” said SAP Global Head of Insurance Bob Cummings on Thursday during his keynote at the SAP Digital Insurance Innovation Summit near San Francisco.
Insurtech futures: startupbootcamp in deal with eos venture partners Startupbootcamp InsurTech has reached an agreement with Eos Venture Partners of up to £1m in funding for the cohort joining its 2017 program. According to Startupbootcamp it is in its final weeks of its recruitment period to provide more benefits to interested startups.
Startupbootcamp secures £1 million investment from Eos to fund InsurTech cohort Startupbootcamp InsurTech, the leading independent accelerator focused on early stage insurance startups and corporate innovation, announces agreement with Eos Venture Partners of up to £1 million in funding for the cohort joining its 2017 program.
How to sell insurance products people believe they don’t need Every insurance company and its agents face the same hurdle each day: Convincing audiences that they should buy something they believe they don’t need. Selling insurance isn’t like selling something people want. Consumers want iPhones and a nice-looking car.
Insurtech futures: can brokers benefit from the internet of things? The internet has redefined the way we interact with each other and revolutionised the way we live, but we are about to enter a new phase of growth as every-day devices are connected to the internet in what is called the Internet of Things (IoT).
Is insurtech a threat or a bonus for the insurance industry? If you work in the insurance industry and haven’t heard of the term “insurtech” then you must have been on a very lengthy vacation – insurtech is now big business, as proven by FinanceFox, an app that assists people with managing their insurance online, raising a record $28 million in funding during September.
Deloitte appoints Nigel Walsh to lead insurtech practice As the former UK head of insurance at Capgemini, Nigel has advised UK and European insurance companies on major systems replacements and technology transformation projects. By drawing on his relationships with technology partners, he has helped to improve the customer and broker experience.
Despite InsurTech gains, independents are secure – as long as they’re strategic According to a Dow Jones VentureSource report, venture capital firms put $167 million into insurance technology companies in the third quarter. In fact, the space saw more funding in each quarter of 2016 than in any corresponding period last year, and InsurTech Connect – a new conference targeted at these groups – exceeded their aggressive target of 1,000 attendees by drawing a crowd of 1,500 in Las Vegas earlier this month.