Sent on January 18, 2017

News
Fintech Innovation Lab London Kicks Off Largest Programme in Its Five-Year History
16 JAN 2017 | LONDON - The 20 innovative startups chosen from among more than 300 fintech entrepreneurs around the globe who applied for Accenture’s (NYSE:ACN) FinTech Innovation Lab London represent the largest class in the London Lab’s five-year history. This year’s programme also received the greatest number of applicants, with increased interest from startups in the Middle East, Turkey, Russia, the Nordics and North America.
Insurance disruption fuelling customer-centric innovations
16 JAN 2017 | Driven by the rapid advances in technology, insurers in Singapore have been taking steps to be more customer-centric in an attempt to retain loyalty and attract new policyholders. Front-end disruption in the sector will continue in 2017, as will the rise of unions between innovation-starved insurers and technology-related start-ups, industry players and observers echoed in unison.
Grange Insurance Partners With Amazon on New Echo Skill
13 JAN 2017 | Grange Insurance has announced a new enabled skill application on Amazon’s Alexa voice service, which it first launched on Dec. 29. The carrier becomes the third insurer to partner with Amazon on its cloud-based virtual assistant device; Nationwide and Safeco insurance are the others. Alexa, also known as Echo, provides hands-free access to streaming music, hearing the news, checking sports scores and controlling smart home devices.
Helvetia Insurance sets up VC fund to tap insurtech opportunities
13 JAN 2017 | Swiss insurer Helvetia said in a recent statement that it has set up a venture capital fund to invest in start-ups whose technology and business goals are aligned with the company’s. The newly established digital ventures department will operate under its corporate development division and will be responsible for the proper investment of the £44 million fund.
China in Midst of Insurtech Boom: Opinion
13 JAN 2017 | While China’s fintech boom continues unabated, another fast-growing phenomenon has gone almost unnoticed — so-called insurtech, the latest industry to be spawned by the intersection of online finance and the world’s biggest army of internet shoppers.
Lemonade Will Open the Kimono on Insurtech Operations
13 JAN 2017 | Insurtech company Lemonade has decided to do a “full frontal” and open the Kimono on their operations. The growing Insurtech startup said they were going to overcompensate on their mission to transform insurance from a necessary evil into a social good.
Northwestern Mutual launches $50 million fintech venture fund
12 JAN 2017 | Northwestern Mutual Life Insurance Co [NMLIC.UL] has set up a $50 million corporate venture fund to invest in fintech startups, in a bid to expand its digital offering and capabilities. The initiative makes Northwestern Mutual the latest established financial institution to set up a venture arm dedicated to backing fintech companies, as large firms seek to keep up with a wave of digital transformation impacting their sector
US: How distributed ledger technology might grow in the insurance industry
12 JAN 2017 | On Jan. 5, 2017, the Department of Treasury Federal Insurance Office held its first committee meeting of the new year. Several topics were addressed, including the use of blockchain/distributed ledger technology (“DLT”) in the insurance industry. Matt Higginson of McKinsey & Company presented this topic to the committee. While DLT’s impact on the financial services industry is still being examined, the industry sees the potential and is investing in research and experimentation to better understand that impact.
Cookhouse Lab Launches in Toronto: Insurance, Technology, and Innovation Collide
12 JAN 2017 | Cookhouse Lab, the first insurance focused open innovation lab announced today their official grand opening is scheduled for February 1, 2017. Located in downtown Toronto, the Lab is central to the home of many global Life and P & C insurance and reinsurance companies. It invites insurers, reinsurers, technologists, academics, and entrepreneurs to collectively join forces and accelerate the insurance innovation landscape by adopting an open collaborative approach.
Changing techs improving Risk Management for Insurance Companies
11 JAN 2017 | In India, insurance companies are always found searching for best possible risk management solutions to improve their systems and functioning. The main advantage of risk management for insurers is that it emphasizes on the practical risk management concept rather than technical concepts and detailed theory which makes it easy for a layman to understand. Policy holders reduce uncertainty by passing risk to insurance company.
Microsoft CEO Satya Nadella: for the future of chat bots, look at the insurance industry
11 JAN 2017 | For an early look into how chat bots are being used commercially, Microsoft CEO Satya Nadella suggests looking at the insurance industry. From sales to customer service, "you're seeing a lot of action in terms of people building bots that have real natural language understanding," Nadella said on Monday at the FinTech Ideas Festival in San Francisco. "We have pilots going on with many many customers.".
Health tech for a fitter workforce
11 JAN 2017 | UK-based private medical insurance provider AXA PPP healthcare has revealed the findings of its third annual State of the Nation Survey, which discovered that health tech could be the key to a fitter, healthier workforce.
Insights
InsurTech Manifesto
17 JAN 2017 | 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 by generating more than 16 billion dollars in the last year from insurance companies. I believe that we will see a completely changed insurance sector in the medium term. But I consider it a joke for an industry conference to show a picture of a newborn and sell it as the last intermediary or the last client to have purchased an insurance policy. I’m convinced that insurance companies will still be relevant in the future, or will become even more relevant than they are now,
Interview with Jonathan Howe, 50insurtech influencer and PwC UK Insurtech leader
09 JAN 2017 | You only need a proprietary underwriting algorithm if you are underwriting. By far the majority of startups that we see in this space are focused on providing services to existing insurers, either by gathering new data, aggregating data or providing technology that reduces the likelihood of claims (such as sensors). In many cases the opportunities will not be with startups but from other industries that already gather this data (such as utility companies). And we are also seeing startups bypassing incumbents altogether and working directly with the reinsurers - looking forward it may be the reinsurers that really disrupt the incumbents.
Agenda
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
TU-Automotive Webinar: The Enabler for a New Era of Connected Motor Insurance
26 JAN 2017 | Can UBI tech form the basis for a suite of new motor insurance products? This is the tricky topic which our experts from Generali, Insurethebox, Inter Mutuelle Assistance and Ptolemus will tackle on Thursday the 26th of January 2017 at 12:00 CET. Even if you are unable to attend the webinar live, the audio recording will be sent straight to your inbox. Sign up to the webinar to: Get to grips with the power of UBI data in the claims resolution process from FNOL to tackling fraud to accident reconstruction/management Discuss the possibilities of utilising UBI tech to create the backbone of insurance products for mobility services (i.e ridesharing, P2P car rental, ride-hailing) Assess what data sets will best determine pricing models to understand the obstacles generated by adding more driving assistance features to the vehicle Sign up now by entering your details below

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