Sent on May 17, 2017

The Future of Insurance is Insurtech
17 MAY 2017 | Every insurance sector player ought to ask: How should the value chain be reshaped by using the new technologies at hand? The insurance sector has entered a phase of profound transformation. Numerous insurtech startups—around 1,000, according to Venture Scanner map—have popped up to challenge the traditional model. I believe that we will see a completely changed insurance sector in the medium term. But I’m convinced that insurance companies will still be relevant in the future, or will become even more relevant than they are now, but these companies will have to be insurtechs, or players who use technology as the main enablers for reaching their own strategic objectives.
Insurtech accelerators funding tech growth in the industry
16 MAY 2017 | Insurtech, disruption, call it what you will, it’s changing the way insurance professionals do business - and start-up companies are lining up to get their foot in the door and some insurance dollars in their pockets. So what differentiates the good from the bad among the myriad of would-be insurtech companies? How do they get their starts? And who is funding them? Insurance Business spoke with a couple of people involved in funding and shopping insurtech start-ups.
A Risk Pool of One: How Technology Could Make Insurance Obsolete
16 MAY 2017 | 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.
The Failures and Successes of Insurtech
15 MAY 2017 | 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.
Insurtech Firm Gets Bank Backing
15 MAY 2017 | 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.
How One Startup Built Better Health Insurance With the Magic of Data
15 MAY 2017 | 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.
French Insurtech Startup CBien Raises €8M
12 MAY 2017 | 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.
InsurTech: How 300-day-old startups and 300-year-old insurers can bring out the best in one another
11 MAY 2017 | In my previous two blogs I examined some specific technologies and topics (like IoT and Analytics, or P2P Insurance) from an InsurTech perspective. But today I’m going to focus on something of fundamental relevance to the whole InsurTech space: how startups and insurers can learn to collaborate more effectively – and reap the mutual benefits. 86% of insurers (globally) believe they must innovate at an increasingly rapid pace simply to retain a competitive edge, according to Accenture’s Insurance Technology Vision 2017 report. Whilst some of that disruptive pressure is undeniably coming from InsurTechs, most traditional insurers still perceive their existing competitors as posing the greatest risk of disruption. And so there’s a growing recognition among insurers that the InsurTech movement represents more of an opportunity than a threat, and that they should be working more closely with these technology-driven startups.
Clover Health Tops $1 Billion Value With Alphabet Backing
11 MAY 2017 | Clover Health, an insurance startup using data science for preventative health care, has become Silicon Valley’s newest, and a rather reluctant, unicorn. Alphabet Inc.’s venture arm GV and other investors have put $130 million into the San Francisco-based company, valuing it at $1.2 billion, according to people familiar with the matter. Startups worth more than $1 billion on paper are known as unicorns. The funding round closed Wednesday.
Startupbootcamp InsurTech graduate, CBien, raises €8 million
11 MAY 2017 | CBien, the leading European digital asset management platform located in Paris, Nantes and Hamburg, has raised €8 million from its existing shareholders MAIF, MACIF and 5M Ventures. This second fundraising round confirms investors’ confidence in the French startup. The funds will be used to finance CBien’s visibility in France, its international expansion, the integration of key insurance offerings and processes (on demand insurance, claims management…) and the development of new technologies for asset referencing and management.
Insuretech In China: Revolutionizing The Insurance Industry: Part II: Insuretech Makes Gains
10 MAY 2017 | Insurtech is revolutionizing the insurance industry by bringing disruptive products and services to a market that is fast adopting, and increasingly moving toward, an online ecosystem. The market is also seeing a surge in the number of people who are aware of and are starting to understand the benefits of insurance. The China Insurance Regulatory Commission is supporting these gains by fostering a favorable regulatory environment for insuretech
Cover Story: Insurtech to reshape industry
10 MAY 2017 | The insurance industry, which has mainly used agents and banks to distribute its products for more than a century, is set to change in the next five years. The growing adoption of insurance technology (insurtech) will not only result in greater transparency for the industry but also better customer experience and more innovative products. The growth of insurtech, a subsector of financial technology (fintech), has been made possible with the digital revolution. Start-ups are using the advancements in technology to change how consumers learn about and buy insurance.
Insurtech Startup Lemonade Now Available in California
10 MAY 2017 | Lemonade, a new spin on providing insurance, has announced it has received regulatory approval in California and is now available for homeowners to purchase insurance online. The Insurtech firm is now operating in three states including New York and Illinois. Lemonade said that launching in both New York and California within a few months was “unheard of”. As a tech company, Lemonade says that launching in the tech capital of the world is “huge”.
Tällt Ventures Insurtech AI report celebrates disruptive innovation
09 MAY 2017 | A new report created by Tällt Ventures through the analysis of global Insurtech investments that covered 5M tech startups has been released today 9th of May. The report, “Insurtech Disruption Trends 2017, Artificial Intelligence”, features 60+ tech ventures that use artificial intelligence and which have the most potential to influence, change and disrupt the global insurance market. Part of the report is dedicated to the identification of key sectors within the industry set to be impacted most by AI. Neosurance, a startup that provides microinsurance solutions, has been included in the Insurtech Disruption Trends 2017 report making it one of the innovative startups that will disrupt the insurance market.
Neosurance chosen as best insurance startup during the Insurance & Previdenza Awards 2017
24 APR 2017 | Neosurance, the first Italian startup that has created a unique system which proposes “push” micro-insurance, has just been awarded the Insurance & Previdenza Elite prize for the “best insurance startup” category as part of the Insurance & Previdenza Awards 2017, an event made possible by Milano Finanza.
17 MAY 2017 | London | Your toolkit for end-to-end operational adaptation to reach the digital-savvy future consumer. The Digital Transformation in Insurance Congress will bring together 100 insurers, brokers, aggregators and solution providers to uncover the practical steps needed to succeed in a digital era. Split into 5 digestible themes, attendees will explore the challenges and emerging opportunities to both deliver operational efficiency but also exceed customer’s digital expectations. With efficiency and digitisation at the forefront of the insurance sector, the need to share experiences, scalable success stories and new ways of working has never been greater. We’ll hear from 25 presenters on how they’ve implemented digital transformation in their organizations and the steps needed to realize the benefits digital working can bring for customers and business.
Insurance Nexus Asia Summit
24 MAY 2017 | Singapore | Conquer low premium costs and low insurance penetration through digital transformation Come together with business-transformation frontrunners and analytics leaders to build your roadmap to boost insurance penetration and create strategic advantage that will leave your competitors wondering what happened! This summit is a must-attend event for those involved with business transformation, customer centricity and analytics from insurance carriers (P&C, Commercial, Specialty, Health and Life)

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