A Risk Pool of One: How Technology Could Make Insurance Obsolete Will technology make insurance obsolete?” That was the stark question posed by William Hartnett, a former Microsoft and ACORD executive, in his opening address to the 2017 Global Insurance Symposium, April 26-27 in Des Moines. The annual event is sponsored by a coalition of Iowa insurers, reinsurers, system vendors, university insurance departments, and the state’s insurance department.
Major Health Insurers’ Bets: Where They’re Investing Across Digital Health, Elderly Care, & More After the passage of the Affordable Care Act legislation, the US health insurance market was shaken up by a number of new dynamics, including the growth in numbers of covered people, the introduction of health exchanges, and the new emphasis on preventive medicine. Even though the current health regulatory landscape has been in flux, the shift to value-based medicine has not changed and insurers are still looking for more ways to manage the health of their covered population, differentiate their offerings, and get new datasets, among other efforts.
The Failures and Successes of Insurtech In the past 10 to 15 years, insurance technology, or insurtech, has been taking the world by storm. In fact, in 2016, VC investment in insurtech exceeded $1 billion. The rise of insurtech is largely due to the ever-increasing use of mobile devices and the need for quick, simple and safe insurance solutions that mobile users can use regularly. However, even though the insurtech industry has been progressing very swiftly, not every major insurtech startup is a roaring success. Here is a look at some of the lessons from insurtech’s successes and failures.
Brokers must think about millennials to stay relevant Commercial brokers and insurers should have the millennial generation on their minds in order to stay relevant in the digital world, according to one of today’s leading insurtech start-ups. Citing a study by Capgemini, specialist insurance provider Digital Risks said Generation Y consumers are more likely to buy insurance from technology companies compared to other customer segments.
Insurtech Firm Gets Bank Backing Business interruption insurance trading platform, Audeamus Risk, has been recognised by an independent panel, led by major Australian Bank Westpac. An Australian insurtech start-up has has been recognised by an independent panel, led by major Australian Bank Westpac, as one of the top 200 «Australian Businesses of Tomorrow.» Audeamus Risk, provides updates similar to a continuous data feed from commonly used wearable devices. However, in Audeamus Risk case the firm monitors the behaviour and resilience of an organisation expressed in dollar value.
Insurtech: Will U.S. Regulation Hamper Growth? The waves of disruptive technologies that are reshaping how people work, live and play are hitting the global insurance industry. Virtually every area of insurance, from sales and distribution to underwriting and claims, will be transformed by the insurtech innovations that are happening and that will be coming down the road. However, the laws and regulations for insurance in the United States will need to undergo a significant transformation to allow for the full realization of insurtech's potential.
How One Startup Built Better Health Insurance With the Magic of Data FOR 12.2 MILLION Americans, signing up for health insurance in 2017 was a leap of faith: that Obamacare would make it through the year, that the health exchanges wouldn’t collapse, that premiums wouldn’t put their families on the street. For the 54,000 New Yorkers who used those exchanges to join Oscar—a millennial-beckoning insurance startup cofounded by Jared Kushner’s younger brother, Joshua—the 2017 enrollment period wasn’t just uncertain. It was, well, kind of bleak. In July, Oscar’s members found out the company was halving its largest network, based in New York City, from 40,000 doctors to 20,000, from 77 hospitals to 31. That kind of forced breakup should have been a very tough sell.
Outgoing French president will move his foundation to Paris’ Station F mega-campus New French president Emmanuel Macron will take office this weekend. But the country’s soon-to-be-former-president, François Hollande, apparently isn’t going far. Hollande, whose administration launched La French Tech program to accelerate France’s startup economy, has announced he will move his foundation to Paris’ Station F, the startup campus that will open this summer as a home for more than 1,000 startups.
French Insurtech Startup CBien Raises €8M CBien, a French insurtech startup, raised €8m in a second funding round. Backers included existing investors MAIF, MACIF and 5M Ventures. The company intends to use the funds to increase its reach in France, and internationally (Germany and the United Kingdom first), and continue to develop the platform.
Make the smart choice by protecting your tech with insurance The most straightforward way to protect your home is by installing home monitoring surveillance technologies. Ideally, you should purchase a monitoring system with a wide-angle lens so that you can capture more of the room and not have any blind spots. There are other features that you should take into consideration such as the number of sensors that are available as well as night vision capabilities. On the same topic, tt is a reasonably good idea to consider disguised security devices as well. That’s because burglars generally destroy monitoring systems as soon as they spot one.