Insurtech continues to transform the industry, but many areas remain archaic while others indulge in ‘delusional exactitude’. The ideas that make an impact won’t always be those that make the headlines, says an Intelligent Insurer panel.
Investors may be more picky, and valuations less frothy, but the insurtech market continues to grow and transform the industry. Already estimated to be worth $16.6 billion, some forecast the insurtech market to be almost 10 times that size in a decade’s time.
While such growth may seem incredible, it’s probably partly explained by the breadth of the sector—encompassing everything from reinsurance placement platforms to artificial intelligence and automated claims solutions. To discover what types of technologies are currently disrupting the market and what might be next, Intelligent Insurer online gathered a group of experts to give their insights: Sebastián González, head of sales LatAm at Bdeo, which specialises in “automation and efficiency around inspection processes” in underwriting or claims, mainly for property and motor insurance; Todd Rissel, chief executive officer of e2Value, a web-based insurance-to-value solution that helps property and casualty and mortgage-related companies value their portfolios; Ross Wirth, head of client management technology at CyberCube, a cyber risk analytics platform for the insurance industry; and Justin Davies, head of region EMEA for Xceedance, which provides strategic operations support, technology, and data services to drive efficiencies for insurance organisations.
“You have some 250,000 claims coming in, how will you handle that?” Todd Rissel, e2Value
insurtech, , claims, technology, insurance, data, Wirth, Gonzlez, Davies, Rissel, CyberCube, e2Value, Bdeo, Xceedance