The COVID-19 pandemic has triggered an explosion in cyber crime, so why is the market growing so slowly and what does the future hold for the cyber insurance market?
Actions towards bringing an insurtech solution to market speak louder than words when it comes to attracting insurtech investment, an Intelligent Insurer Re/insurance Lounge panel heard.
Insurers, providers and investors discuss the rise and rise of the insurtech sector, its popularity with investors and its future.
Removing pain points from and increasing efficiency in the claims process using automation at a time when customer expectations are high is becoming an important point of differentiation for carriers.
The technology is already there to dramatically streamline the claims process, says Sean Baird, director, product marketing at Nuxeo—insurers just have to take advantage of them. With automation able to reduce the number of manual interactions required to support the claims process, carriers can now move with confidence towards a touchless experience, all while enhancing customer experience, he explains to Intelligent Insurer.
Accessing the value from driver data and advanced auto systems is easier than many carriers assume, argues Jason Verlen, SVP Product Management, Strategy, and Marketing at CCC Information Services. The sheer volume of information available to carriers may seem daunting, but there is huge value that can be found within it, in terms of both policy development and policyholder satisfaction.
As the world attempts to find a way of understanding, managing, and transferring the risk associated with pandemics, much can be learned from the extensive work the insurance industry has done to better handle cyber risk, says a new report by CyberCube, with contributions from Munich Re and Metabiota.
The accelerating use of telematics offers underwriters ‘deeper insights’ to boost customer personalisation, says CCC Information Services.
Implementing ‘a cultural shift’ is the biggest challenge for AI insurance projects, says Intellect SEEC.
Infrastructure is the key to leveraging automation in underwriting, says Ed Challis of Re:infer, ahead of a webinar in Intelligent Insurer’s underwriting webinar series.