Allstate's Tech Company Reveals New View of Telematics Value The announcement of Allstate’s new stand-alone telematics company, Arity, hints at the insurer’s ambitions to create an added revenue stream by selling data and analytics knowledge to its competitors, industry experts predict. The Northbrook, Illinois-based company is attempting to enter the very competitive data & analytics market. Early indications are Allstate wants to sell its knowledge to all third parties, including other insurance companies, according to a Bloomberg article this week.
InsurTech Futures: Ageas launches ‘Tinder style’ app Ageas has launched an app targeted at millennials which will enable them to insure up to three items for £15 per month. The app works by the user uploading photos of the items they wish to insure. They can then swipe, in a similar way to dating app Tinder, in order to organise their cover needs. Ageas said the app can cover both possessions and travel experiences. There is no annual contract, no penalty fees, and the option to ‘swipe' possessions in and out.
What impact will the out vote have on insurance? A month after the vote and still no one really knows. Is this reasonable? As pretty much everything else is up in the air, why should the insurance industry be any different, you might ask? But there is one big difference. The insurance industry is based, at its core, on individuals being able to make economic and financial predictions about the future, based on past events and data. So what predictions can we make about the likely effect of Brexit on the insurance industry?
In Claims, All Roads Lead to Innovation Claims is making great progress on the innovation journey. Over the past few years, claims organizations have been adopting a more innovative culture that furthers their progress in the areas of efficiency, effectiveness, and customer experience. All areas of insurance can benefit from innovative thinking, of course, but we have seen particular trends in innovation within claims that highlight a unique approach.
Blockchain Technology and Smart Contracts for Reinsurance This is a guest post by Howard Tolman So the old and politically incorrect joke goes, If you’re in Ireland and you ask an Irishman how do I get to “so and so”, you’ll probably get the response that it all depends on where you’re starting from. The same thing applies to the usefulness of Blockchain combined with Smart contracts in Commercial Reinsurance. So where would you start from?
Insurtech, Inteview with Christopher Oster, CEO of Clark One of the hottest insurtech companies in Europe, Clark, has just announced the close of a $13.2m Series A funding round. Christopher Oster, co-founder and CEO of the Berlin-based startup, answered our questions about innovation in the insurance industry, the product, the funding and investors and future plans.
Insurance, data analytics and internal operations: untapped opportunities Insurers have always been ahead of the curve in using data for the customer-facing side of the business. Increasingly complex personal or business data for actuarial models help assess and respond to risk. However, when it comes to internal operations, many large-scale insurers fail to leverage data to quickly gain insights and drive them to action.
Be Afraid of These 4 Startups The 1926 Model A is a far cry from the self-driving Tesla we see on the road today. The automotive industry has progressed light years since Henry Ford first paved the way for automobiles. From refrigerators to cars, technology is moving at warp speed. There’s just one industry that hasn’t quite kept up with the Joneses: the insurance industry.
InsurTech Futures: Zurich teams up with Cocoon on smart tech home product Zurich Insurance has partnered up with smart tech company Cocoon on an all-in-one home security system. The insurer stated that this was a part of its wider plans to continue investing in innovation and future technologies, in order to lead the charge in changing the nature of risk through the use of future tech.