Sent on May 25, 2016

News
Swiss Re launches first-ever InsurTech accelerator
25 MAY 2016 | The accelerator is a programme managed by Kyron. A number of themes identified for the programme include the internet of things (home, industrial, health and motor), systems of engagement (innovative distribution channels and models, digital assistants/ Robo advisors)' and smart analytics (across insurance value chain). During the programme, startups will have access to the global expertise and insights from the Swiss Re team, mentors from the industry, and technical enablement to work effectively from the Swiss Re, Bangalore office.
Insurance Websites Not Keeping Up, Despite Investments
24 MAY 2016 | Insurance websites are not keeping up with exceeding customer expectations, finds J.D. Power and Associates in its 2016 Insurance Digital Evaluation Study. Now in its fifth year, the report measures online consumer experiences for auto insurance shoppers seeking quotes and existing customers in search of typical policy assistance. This year’s study is based on responses from 3,854 shopping evaluations and 3,340 service reviews of auto insurance websites. Consumer ratings were used to compute an overall index for shopping and servicing experiences based on a 500-point scale.
Many Auto Insurance Websites Disappoint Consumers: J.D. Power
24 MAY 2016 | Auto Insurance executives may want to take a second look at their consumer websites. While overall customers are more satisfied with their experience shopping online for auto insurance, they are less thrilled with the websites of individual insurance companies, with only slightly more half saying they “definitely will” return to the site for their servicing needs, according to the latest J.D. Power study.
Insurtech futures: why insurance isn't keeping up!
23 MAY 2016 | Tech expert, Ran Berger, explains why insurance isn't keeping pace with the digital revolution. During the early years of mass internet use, the insurance sector was lauded as a pioneer. Insurers were responding to the needs of newly educated consumers and riding the wave of increased demand and competition through the comparison website boom.
May Insurtech Update: Check Out 8 Hot Startups
23 MAY 2016 | In this month's roundup of insurance technology startups, we take a look at technology innovators allied with AXA, American Family and more.
Insurtech Startup Clover Health Raises $160M in Venture Capital Funding
23 MAY 2016 | Clover Health, a San Francisco, CA-based health insurance startup, raised $160m in venture capital funding. The round was led by Greenoaks Capital with participation from existing backers Sequoia Capital and First Round Capital. In conjunction with the funding, Benny Peretz, partner at Greenoaks Capital, joined Clover’s board. The company, which has raised $285m in total funding to date, intends to use the funds to continue to develop its platform and expand into new markets.
How peer-to-peer companies are transforming the insurance sector
20 MAY 2016 | Financial technology firms continue to reinvent the entire financial sector. The modern wave began about 10 years ago, when peer-to-peer lenders first emerged. Since then, the low-cost, high-efficiency P2P business model has spread to a number of other segments that had long been the province of banks and other financial institutions
Big data analysis to transform insurance industry
20 MAY 2016 | Big data analysis has revolutionised many areas of modern life — from healthcare, to politics, to sport — yet not so far the property insurance market. That looks set to change. “The insurance industry has been a little of a hold out,” says Lori Sherer, head of the advanced analytics practice at management consultancy Bain, but “is now on the brink of innovation”.
The Emergence of an InsurTech Ecosystem in Asia
19 MAY 2016 | Building on TJ Geelen’s blog post about the thriving FinTech Ecosystems in Asia, I’d like to share with you some insights relating to the emerging InsurTech (Insurance Technology Innovation) Ecosystem in the region. Although InsurTech in Asia is in its infancy, since 2015 we’ve seen a surge of interest in the sector. By the way, I’m a big believer that Asia has a real potential to power the next wave of global insurance innovation. Jeppe talked to us about Northzone’s investment ethos, industries he is excited about and shared his top advice for entrepreneurs embarking on their fundraising journey….
The new-world insurance agent
19 MAY 2016 | Silicon Valley is building the new-world insurance agent. My grandfather started selling insurance in the 1950s and insurance eventually granted him the American dream. Today, the industry accounts for 7 percent of U.S. GDP, with more than $1.1 trillion of net premiums paid annually. The aged way of conducting business is pushing the Valley to disrupt all layers of the value chain.
Insurtech futures: aviva teams with digital accelerator in multi-million pound deal
19 MAY 2016 | Aviva has announced a partnership with Founders Factory, a multi-sector digital accelerator and incubator, co-founded by Brent Hoberman, Henry Lane Fox and Jim Meyerle. Andrew Brem, chief digital officer, Aviva, said: "Insurance and financial services has been stuck in a bygone, analogue era when it comes to engaging with customers - we believe it's high time to bring the industry into the digital age, for the benefit of customers and insurers alike.
Insights
Thought provoking insurance IoT discussions
06 MAY 2016 | Privacy, security, standardisation, connectivity… these are all concerns affecting the uptake of IoT in insurance. Insurers understand the value of IoT for their business but there are some major obstacles in their way to making it mainstream. Recently, FC Business Intelligence sat down with four big wigs from the Internet of Things Privacy Forum, Bain & Company, Groupama and Swiss Re and asked them what keeps them up at night when thinking about IoT adoption.
Data and analytics in the fight against fraud with QBE Insurance
20 APR 2016 | FC Business Intelligence recently got in touch with Rob Smith-Wright, SIU Claims Manager at QBE Insurance to hear how they’re using data and analytics in the fight against fraud. This is your chance to get clued up on how one of the world’s foremost insurers is utilising analytics to hunt down the fraudsters that target your organisation.
Agenda
Insurance IoT Europe Summit
07 JUN 2016 | Insurance IoT Europe is the only customer built event created specifically to discuss the applications of connected devices in the insurance industry in 2016. The conference will evaluate business-critical topics on how to devise a business plan as real-time data and usage-based insurance models will completely overhaul the way that insurers evaluate risk and connect to their customers. As an extension to the dramatic change that new digital and analytics solutions have made for insurers, IoT is the new terrain to watch this year. Download the Brochure to find out why this is a must-attend event for your 2016 calendar!
The Future of FinTech Conference
08 JUN 2016 | With $13.7B invested into fintech companies in the last year, the pace of innovation and disruption in the financial services space has never been higher. While some are concerned that financial services will face its Uber moment, the reality is that coming technology and business model innovations offer tremendous opportunities to reinvigorate and reinvent the financial services industry for institutions who are prepared. The Future of FinTech Conference delivers the best audience and deepest discussion on emerging financial services innovation. The conference will help you see where the world is going and introduce you to the emerging and global institutions that are making those changes happen.