Sent on December 14, 2016

News
Machine learning and Blockchain power $235bn Insurtech market
13 DEC 2016 | The global insurance market is headed towards a bespoke model says Juniper Research, which forecasts Fintech platform revenues derived from supporting the insurance industry to reach US$235 billion globally by 2021, from US$175 billion in 2016.
InsurTech startup Digital Fineprint secures $400k from Eos Venture Partners and others
13 DEC 2016 | Digital Fineprint, an InsurTech startup that uses social media to help insurers reach more consumers, have just raised $400k in a seed investment round. Investors included InsurTech VC fund Eos Venture Partners and a group of industry angel investors including Carl Bauer (co-head of Financial Institutions Group at JP Morgan), Stephan Apel (VP at Merrill Lynch) and Shailesh Rao (VP at Twitter and Google).
Insurtech futures: digital fineprint closes $400,000 investment round
13 DEC 2016 | Investors in the InsurTech start-up include Eos Venture Partners and Twitter VP Shailesh Rao. InsurTech start-up Digital Fineprint has confirmed it has closed a $400,000 (£314,490) investment round. According to the firm Eos Venture Partners and a group of industry angel investors, including Carl Bauer of JP Morgan, Stephan Apel of Merrill Lynch and Shailesh Rao of Twitter and Google have invested in the round.
The Digital Hospital: 80+ Companies Reinventing Medicine In One Infographic
13 DEC 2016 | Digital health continues to be on investors’ minds as the industry is on track for a record year with $7.2B in funding to private companies in the space. Digital health companies vary widely in the user base they’re targeting, from physicians to athletes to insurers. In this post, we used CB Insights data to identify 82 private digital health companies that have a direct impact on hospital care and mapped them according to 15 categories within which they operate.
Insurtech Platform Revenues to Approach $235bn by 2021, Driven by Machine Learning & Blockchain Adoption
12 DEC 2016 | New findings from Juniper Research forecast that fintech platform revenues derived from supporting the insurance industry will reach almost $235 billion globally by 2021, up 34% y-o-y from an estimated $175 billion this year. Investments in blockchain technologies to underpin smart contracts. The new
Top 5 Insurtech Trends for 2017
09 DEC 2016 | The emergence of insurtech has been fueled by new digital capabilities and Internet of Things (IoT) devices that are reducing costs, changing systems and processes and enhancing the consumer experience. All financial services providers will learn from the insurance industry's experiences in 2017.
Insurance and AI
09 DEC 2016 | Artificial Intelligence (AI) is revolutionizing every industry, and insurance will be affected as well. As already stated in previous posts, AI today is perceived in three different ways: it is something that might answer all your questions, with an increasing degree of accuracy (“the Oracle”); it could do anything it is commanded to do (“the Genie”), or it might act autonomously to pursue a certain long-term goal (“the Sovereign”).
Insurance start-up Clover aims to "reinvent" health care
09 DEC 2016 | Wearing blue scrubs and a 1,000-watt smile, Nikesha McPherson arrives for her annual visit to the home of an octogenarian couple in Plainfield, New Jersey. This time she’s going to pitch Margarita and Alfonso Varon on the benefits of brown rice. The nurse practitioner barely gets a sentence into her spiel before Margarita, 83, interrupts her with a long roll of laughter that bounces off the beige walls covered in family photos.
Telematics: Moving Out of the Dark Ages?
08 DEC 2016 | While the number of usage-based insurance (UBI) policies reached 14 million at the end of September 2016, most insurance companies are still overwhelmed by the challenge of using collected data to rate their customers’ driving habits. This conclusion is based on analyzing the world’s 27 largest UBI programs, including those of Admiral, Allianz, Allstate, AXA, Generali, Desjardins, Direct Line, State Farm, the Hartford, Unipol, Uniqa and Zurich.
Using Insurtech for Transformation, Not Disruption
08 DEC 2016 | You’ve seen it happening. New players come into our industry and some go. There are entire conferences dedicated to displacing the insurance agency as we know it. You have read the many articles about the role technology is playing within the industry. We and those watching our industry refer to this movement as insurtech. The internet scared the industry 20 years ago. Today, insurtech is the boogey man haunting our industry. Should you worry? Yes. But, there is a key difference between the introduction of the internet and the increase in companies within the insurtech space.
The New Paradigm of Connected Insurance
08 DEC 2016 | Connected insurance represents a new paradigm for the insurance business. This new insurance approach is based on the use of sensors for collecting and transmitting data on the status of an insured risk and the deployment of big data capabilities that transform raw information into actionable knowledge along the insurance value chain.
Efficiency and Security Among Blockchain Benefits to Insurance Industry
07 DEC 2016 | A report released by Long Finance has outlined the possible impact of blockchain technology on insurance. The report claims that blockchain technology applications, many of which are already in development, could have a major impact on identity, globalization, time, mutuality and other insurance industry transactions, by reducing the time and improving the security involved in completing them.
New technology will tackle insurance fraud, says inventor of Jolt crash-recording app
07 DEC 2016 | NEW technology could be the only way to crack down on the fraud which has prevented the motor insurance sector from making a profit for 14 years. The claim comes after the government announced plans to limit the whiplash claims which have risen by 50 per cent over the past decade. It has been estimated that scrapping the right to compensation, or capping whiplash claims at £425, could save policy-holders £40 a year.
Insights
Interview with Matteo Carbone, 50insurtech influencer: main trends impacting the insurance industry in 2017
14 DEC 2016 | I consider connected insurance the most relevant insurtech trend: it is the more mature as of today and with the larger TAM. Connected insurance solutions are all the insurance approaches based on sensors for collecting data on the state of an insured risk and telematics for the remote transmission and the management of the data collected. Connected Insurance is an insurtech trend able to generate for the insurance sector: Concrete benefits on the bottom line; More frequent interaction with customers, New knowledge about the customer and his risk; Positive externalities to the society. A paper about those impacts can be downloaded at the following link: http://bit.ly/ConnectedAndSustainableInsurance
From Connected to SmartHome: The future is IoT and Insurtech
12 DEC 2016 | Our lives are starting to be ruled by devices – devices, that are connected to each other and also, the internet. At this juncture, we’re standing at the beginning of a journey which will be shaped by technology, interconnectivity, privacy and security implications of the Internet of Things (IoT). In this context, Connected insurance is a sector that has seen tremendous growth. Essentially a motor telematics insurance, it uses black boxes to gather behavioural data to offer customised insurance policies and better loyalty schemes to clients. This ongoing and successful experience in telematics is serving as a benchmark for other areas of connected insurance – our homes.
Agenda
Webinar: Deliver a Seamless, Omnichannel Claims Customer Experience
19 DEC 2016 | In the competitive world of insurance, keeping customers happy throughout the single moment of truth – a claim – is a critical priority for insurance carriers. Hear how leading claims executives are designing and executing strategies to deliver a seamless customer experience across a variety of channels, prioritizing the speed of claims resolution, dynamic customer communication and quality customer service. Register for this FREE live webinar (December 19th, 11am CST).
RE•WORK Virtual Assistant Summit, San Francisco
26 JAN 2017 | The next generation in predictive intelligence. Anticipating user & business needs to alert & advise logical steps to increase efficiency. The event will showcase the opportunities of advancing trends in virtual assistants and their impact on business efficiency, personal organisation and society. Explore the theory and application of VAs and chatbots in communications, healthcare, transport and more, with leading innovators. Use our discount code INSURT20 for 20% off tickets. Visit the event website & apply the discount at the checkout: https://www.re-work.co/events/virtual-assistant-summit-san-francisco-2017

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