Sent on May 03, 2017

News
Tech Making Insurance Obsolete, Exec Says; Risk Transfer No Longer a Large Nos. Game
03 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, Iowa. The annual event is sponsored by a coalition of Iowa insurers, reinsurers, system vendors, university insurance departments, and the state’s insurance department. Citing the exponential growth and declining cost of computing power, Hartnett said “a lot of technology today is getting to the point where it’s essentially free.”
How Munich Re is exploring insurtech opportunities
02 MAY 2017 | Munich Re has, for example, in November 2016 partnered with app-based insurance provider Wrisk, an Insurtech venture, to become its exclusive carrier for business underwritten in the UK, Europe and US. It is also funding California-based insurtech start-up Trov which offers on-demand insurance, enabling users to buy insurance for specific products, for specific amounts of time through their smartphones. Users can turn insurance on and off with a swipe and also file claims through the app.
Insurtech: Next Insurance Raised $13 Million in Seed Funding to Fix SME Insurance
02 MAY 2017 | The Insurtech sector has been a hot segment of the Fintech industry. In Q1 according to KPMG, Insurtech investment slowed overall but still registered a health $243 million across 43 deals. KPMG predicts this “lull” will not last as insurance companies around the world are starting to feel the pressure. Insurtech investment is pegged to grow across the entire value chain during the rest of 2017 as new solutions and platforms emerge to digitize the entire industry. The traditional insurance industry is enormous but largely operates in an analog world where phone calls are placed to buy insurance and then to settle claims
Study Finds Insurtech Funding Dips as Startups Launch
02 MAY 2017 | Total insurtech funding in the first quarter of 2017 was down, but the drop-off could be a result of the significant investments in 2016 now reaching the product launch phase, according to a report by Willis Towers Watson Securities. The report, compiled in collaboration with CB Insights, found $283 million was invested in insurtechs in all insurance lines globally in the first quarter of this year—a slight (four percent) bump over the fourth quarter of last year but a 64 percent drop from funding in the first quarter 2016.
The global digital insurance landscape
02 MAY 2017 | The global digital insurance landscape. With an increasing number of digital insurance carriers operating globally, we wanted to provide a snapshot of some of the key players looking to disrupt a trillion dollar industry.
Insurtech Startup Singapore Life Raises $50M in Series A Funding
28 APR 2017 | The term ‘fintech’, while a decent attempt to bracket all innovation in an immense industry under one, tell-all heading, is a bit too broad. For that reason, other sub-terms such as regtech, wealthtech and insurtech have emerged.
Insurtech stakes its claim as most innovative industry of them all
28 APR 2017 | The term ‘fintech’, while a decent attempt to bracket all innovation in an immense industry under one, tell-all heading, is a bit too broad. For that reason, other sub-terms such as regtech, wealthtech and insurtech have emerged.
This insurance startup came out of nowhere to raise $50m series A
27 APR 2017 | Insurtech firm Singapore Life announced today it has raised a blockbuster US$50 million for its series A round. Investors include Impact Capital Holdings, a subsidiary of Credit China Fintech Holdings. CCFH is a Hong Kong-listed group “with a focus on providing 24/7 online financial services to SMEs, merchants, and individuals in China and Asia through internet and mobile solutions.”
Octo’s Distracted Driving scoring and analysis feature is now available within its suite of telematics products
27 APR 2017 | Octo Telematics has announced its Distracted Driving scoring and analysis feature is now available within its suite of telematics products for both in-vehicle and mobile solutions: Octo Glimpse, Octo Vantage, Octo Fleet, and Octo Surround. The timely launch in April, which is Distracted Driving Awareness month, delivers this crucial safety feature to all Octo Insurance partners and their UBI policyholders.
Insights
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.
Interview with Ryan Hanley, 50insurtech influencer and SVP of Marketing at TrustedChoice.com
21 APR 2017 | The insurance industry has entrenched regulation at both the local, state and national level, which unlike taxi regulation in the case of Uber, is not easily sidestepped. This regulation purposefully slows the pace of growth, which is often not baked into investor projections. Direct and captive incumbents, through billions in advertising, have created a commoditized perception of the personal lines insurance product (particularly auto insurance). Self imposed pricing pressure reduces margins and increases cost of acquisition. Neither of which are advantageous for an insurtech startup.
Agenda
DIA Amsterdam 2017
10 MAY 2017 | DIA AMSTERDAM 2017 The must-see event for insurtech and innovation in insurance. The first and biggest global insurtech conference: 50 insurtechs on stage, 8 Thought leader keynotes, 550 Attendees from 200 Companies, from 36 countries, C-level and C-1 decision makers of all major insurance carriers.
GCC Insurance Summit 2017
15 MAY 2017 | With the GCC Insurance Industry slated to cross over $60 bn by 2020, and growing at the CAGR of 16.7%, it is often easy to forge this trend as a seemingly positive outlook. However, on closer inspection, there is no denying the fact that immense challenges lie in store for insurance operators today to maintain profitability whilst retaining a unique competitive edge. The inaugural edition of the GCC Insurance Summit, held under the theme of “EMERGING RISK | MARKET EVOLUTION | EMERGING OPPORTUNITIES” will set out to tackle the single most significant challenge the sector is facing: Customer Engagement The advent of the digital revolution has brought with it a gamut of new improved user experiences, that has resulted in a paradigm shift in customer behavior, making customer engagement all the more hard. With the adherent proliferation of media, and unpredictable customer behavior, it is no secret that vying for customers’ attention has emerged as a prime concern for insurance operators.

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