Sent on July 06, 2016

News
Insurers See Insurtech Startups as Threat, PwC Report Finds
04 JUL 2016 | A recently published PwC report found that 90% of insurers fear they will lose business to startups disrupting the industry. Annual investments in insurtech startups have increased fivefold over the past three years, with cumulative funding reaching $3.4 billion since 2010. As customers demand personalized insurance products and companies increasingly try to cut costs, almost half (48%) of insurers fear that up to 20% of their business could be lost within the next five years to standalone insurtech startups, which are accessing and analyzing data in new ways quickly, not thwarted by legacy technology systems.
Wearable Technology in Workers’ Comp: Taking the Great Leap Forward
04 JUL 2016 | Until recently, wearables have been largely used by consumers to track fitness activity. But wearables are gaining traction in the area of injury prevention and recovery. The recent FDA approval of the Indego exoskeleton, which enables paraplegics, amputees and people suffering from many types of gait disabilities to walk, is the latest milestone in the new world of wearable technology for injured workers.
How to Plant in the Greenfields
01 JUL 2016 | If insurance were a map, we would be surveying a whole new world. The fences and boundaries of tradition have fallen. The snow-capped mountains of certainty are melting away. The rivers of market share are changing course, and streams of data are coming directly to our doors. We know there are still products to plant and fields to harvest, but how will our planting change in the months and years to come?
Innovations coming to insurance payments
30 JUN 2016 | It’s time to replace the tradition of issuing paper checks to settle insurance claims because it’s inefficient, costly and can lead to dissatisfied policyholders. Checks are slow and each settlement check can cost the insurance carrier anywhere from $5 up to $12 or more. Consider that a claim might necessitate the issuance of multiple checks and it’s easy to see how the fees and processing costs can add up in no time.
Insurtech futures: 28% now turn to online channels to claim
30 JUN 2016 | A survey by BT examining how consumers use digital channels for financial transactions found that customers are increasingly confident going online to organise insurance. The poll, the Youbiquity Finance report, showed that 37 percent of people surveyed have tried to make a change to their insurance policy online. A further 28 percent of those making a car or a home insurance claim now turn to online channels first.
Insurtech Startup Amodo Raises $500K in Funding
30 JUN 2016 | Amodo, a Zagreb, Croatia-based insurtech startup, raised approx. $500k in funding. Austrian venture fund Speedinvest made the investment. The company, which had received initial funding from SGH Capital and Bee Next Fund, intends to use the capital for its international expansion. Founded in 2013 and led by Marijan Mumdziev, CEO, Amodo has developed a technology platform that enables insurance companies to launch digital insurance products for the connected customer generation.
Big numbers: Can China and Brazil surpass the U.S. in UBI adoption?
29 JUN 2016 | Can two of the world’s largest economies catch up to the United States in terms of usage-based insurance (UBI) adoption? China and Brazil, with their respective technological and infrastructure advances coupled with policy trends and other economic factors, may very well do so in a short period of time.
Insights
Insurance IoT Progress Survey Infographic: one fifth of insurers agree IoT is changing their business right now.
04 JUL 2016 | Ever wonder what your peers are thinking about how IoT will affect the insurance industry? Over 200 responded to the Insurance IoT Progress Survey and the results will give you the kick-start you need to get IoT moving in your business. With 19% agreeing that IoT is transforming their business now, these survey results will help you understand why you should be getting IoT-ready right away.
Worlds collide: a view on the collaboration between startups and incumbents
04 JUL 2016 | Typically partnerships work best when both parties play to their strengths; startups bring their entrepreneurial drive, customer centric mind-set and detailed understanding of a specific issue whilst insurers bring extensive data, global reach, underwriting expertise and business know how. But partnerships aren’t easy. There are many challenges. New technology can impress in a presentation or at a pitch but how does an insurer integrate this with their existing legacy systems?
Agenda
Chief Data Officer Forum Insurance 2016
15 SEP 2016 | Swissotel Chicago, Illinois, USA: The Chief Data Officer Forum Insurance 2016 which will establish a focal point of discussion for Insurance specific CDOs, CAOs and senior data professionals to evaluate the evolving demands of big data and analytics in the Insurance space and importance of championing data/analytics evangelism at an enterprise level. This highly interactive forum, will tackle some of the insurance’s industry’s most crucial topics including price optimisation, fraud analytics, predictive modelling, customer data management, disruptive innovation, embedding a data culture within your organisation and data quality. It will provide you with the tools needed to empower your data and analytics initiatives to bolster your business outcomes. No matter the maturity of your organisation, the two day conference will enable you to shift the cultural mindset to a data-centric approach to problem solving.
Insurance Analytics Europe
05 OCT 2016 | The Grange Tower Bridge | London, UK: The 3rd Annual Insurance Analytics Europe Summit will bring together 200+ insurance executives from across Europe to explore both innovation in the insurance industry and uncover strategies to fully utilise the ever-increasing analytics capabilities available to insurers. Featuring over 60 speakers including AIG, Aviva, Zurich, Generali and more, there is no other European insurance event that explores both the future of the industry including cutting-edge technology and innovative trends, as well as providing practical strategies to best use analytics across the core insurance business units including underwriting, pricing, claims and marketing.