A new perspective on an old-established industry. Find latest report, news and information about startups and innovations in the insurance industry, with a focus on best #insurtech initiatives and venture capital investments
Life insurance has traditionally been technologically behind other sectors, but it is making key steps forward. Augmented auto underwriting (AAU) showcases AI’s promise in the insurance field AAU is both a journey and destination that progressive insurance
Accenture has identified five critical insurance industry technology trends for 2021 after COVID quickly elevated customer expectations beyond the traditional offer to products and services enabled by the cloud:
Stack Strategically: Drive efficiency and better serve customers by “creating technical wealth” and “competing through tech”.
Mirrored World and “intelligent digital twins”: Accenture says growing investments in data, AI and digital twin technologies are giving rise to an emerging era of business and intelligence and that insurers can “unleash the power of data”.
I, Technologist: Natural language processing, low-code platforms, robotic process automation and more are “democratising” technology, putting powerful capabilities in the hands of people all across insurance businesses.
Anywhere, everywhere: Remote work is here to stay, and it’s time for insurers to transform this into an advantage. Accenture recommends rethinking the talent space, dropping patchwork solutions for a permanent strategy and embracing the new work culture.
From Me to We: The future of insurance lies in collaboration and leading insurers will “reimagine their partnerships through ecosystems and multiparty systems.” A transformation opportunity is offered through trusted partnerships.
The global digital health market continues its boom: with spectacular growth, it could reach $ 660bn by 2025. Investors have poured an unprecedented amount of money into healthcare in 2020, reaching a record-setting year for digital health. Corporate, venture and even government funding had grown as startups, companies and institutions entered this new era of digital adoption.
The insurtech, which provides cyber insurance solutions to small businesses, plans to use the new investment to expand its international footprint through hiring new team members to support the increased demand from clients, brokers, and partners.
Los Angeles-based Just says it uses telematics “to reward safe drivers and reduce insurer bias” by looking at factors such as how, when and where customers drive, rather than factors such as ZIP code or marital status as most traditional insurers do.