My InsurTech Mental Framework Digital transformation has become a major challenge for insurance companies all over the world. In Italy, this transformation is exemplified by the adoption of vehicle telematics. According to the latest IVASS data, black box became an integral part of 16% of new policies and renewals during the third quarter of 2015. The insurance sector is now seeing the [...]
2016 insurance innovation trends In 2016, insurers will be investing in two macro areas,Connected Insurance and InsurTech, according to Bain & Company’s Matteo Carbone. Extract of the excellent Article of Matteo CARBONE They will be spurred on by the arrival of newcommers in the insurance value chain and bythe need for greater integration of user experience and data source; … Continue reading 2016 insurance innovation trends
Competing in an Age of Data Symmetry: Part 2 In 1983, Microsoft Word was introduced. It wasn’t the first word processor, and it isn’t the only word processor, but it quickly became a standard — a “given.” From a productivity standpoint, the first adopters of word processing certainly had advantages over the alternatives (typewriters and ball point pens). Today, however, we all use Word and [...]
Insurtech in Asia: Accelerating Insurance Innovation Welcome to this week’s post! This post explores some of the important developments in insurance tech in Asia and takes a step forward to identify actions that can accelerate the pace of insurance innovation in this region. At the Heart of Insurance Over the past 10 years of having been in the insurance industry in various senior executive roles, I've become truly passionate about insurance (I’m not BS-ing you, hopefully you’ll understand where I’m coming from by the end of the post!). At its core, insurance helps safeguard societies.
Microinsurance Model In Non-Standard Auto In the spring session of the Texas Legislature, I listened to testimony about the impending House Bill 335, which would have prohibited the sale of Named Driver auto policies in Texas. So what does this have to do with microinsurance? A recent development, microinsurance has primarily been considered to offer solutions in life insurance, credit [...]
Why Blockchain may transform Insurance before Banks #InsurTech Alternative title: Solvency 2 on the Blockchain. Almost all the early stories about Blockchain adoption were about Banks. Blockchain platforms and solutions providers are now seeing even more interest from Insurance. This research note looks into the reasons why and analyzes the second orde...
Technology Transforms How Insurers Calculate Risk SAN FRANCISCO — The world is a dangerous, unpredictable place — not a bad thing, perhaps, if you’re in the business of selling insurance, making loans or figuring out ways to prevent mishaps. But these days, technology is changing some of the calculations around risk, whether for car insurance, life insurance, flood insurance or even vacation-related accident insurance, and slowly but surely disrupting the financial core of the insurance business.
Startupbootcamp InsurTech: It’s called a ‘bootcamp’ for a reason Participants don’t get yelled at and made to do press ups, but the Startupbootcamp InsurTech accelerator programme is still tough going. That does nothing to deter young entrepreneurs from getting involved though. Nor should it – getting a start-up into market-ready shape is incredibly difficult and any team worth its salt accepts whatever help it can get.