More than 50 start-up companies offering data, analytics and technology to the insurance sector enter the market every month. While this dynamic is welcome news for an industry that is rapidly adapting to the digital economy, it also creates the challenge of identifying the ’right’ technology that would fit each business. Continue reading…
Employing technology to streamline claims may be a strategy for profitable growth for insurers as clients seek more innovation in this arena.
A significant majority of companies would change or consider changing their insurer based on the availability of innovative solutions to file claims, according to this year’s Excellence in Risk Management survey from Guy Carpenter sister company, Marsh, and RIMS. It showed that 40 percent of respondents would consider switching to other insurers and advisors that offer innovation in the claims area and another 43 percent would not rule out such a move. Continue reading…
Guy Carpenter announced the August 9, 2018 launch event for its InsurTech Alliance – a cost effective, state of the art and insurer-focused suite of capabilities to help carriers evaluate new innovations in the areas of data, analytics and digital technology-based products and solutions.
Why must risk executives know about AI, Internet of Things, blockchain, and other technologies? The answer is often sitting in plain sight, from wearable technology that informs workplace risk to IoT connections that provide rich sources of data to insurtech solutions for insurance and risk finance. The promise for risk professionals who use these technologies is to proactively contribute to their organizations’ growth and performance.
A 2017 report from consulting firm Oliver Wyman and insurtech investor Policen Direkt analyzes insurtech business models worldwide and pinpoints winners and losers.
Claude Yoder, Global Chief Innovation and Product Development Officer
Continuing the discussion of insurtech’s surging impact on the insurance industry. Part II focuses on what carriers should be doing and compelling trends for growth.
Claude Yoder, Global Chief Innovation and Product Development Officer
Insurtech’s impact on the insurance industry is surging, reminding us of the influence that technological change and growth bring to the modern consumer and business landscapes and individual industries - the development of fintech within financial services being an example.
Here we review recent GC Capital Ideas posts on the need for the insurance industry to come to terms with the forces of technological disruption challenging their business models.
Claude Yoder, Global Chief Innovation and Product Development Officer
