As Amazon eyes an entry into the insurance industry, just how worried should insurers be? Intelligent Insurer investigates.
As autonomous vehicles start to become mainstream, it has the potential to change the very structure of the insurance industry – rather than simply how insurers manage the risk. But, according to Vincent Branch, CEO of AXA XL’s Accelerate division, insurers should see this as an opportunity to shape the future, rather than simply serve it.
Insurance is not known for being at the forefront of innovation. By and large, customers are buying the same types of covers from the same carriers in the same way as they were 20 years ago, says Anthony Bice, partner and head of EMEA Insurance, Oliver Wyman.
All insurers are on a journey to use more technology—but as some move faster than others, the very definition of what constitutes an insurance company could be starting to change. Intelligent Insurer investigates.
The industrial internet of things (IIoT) market is already estimated to be worth $146 billion, and that’s expected to grow to $232 billion in the next five years, according to researchers.
Rumours of Amazon's impending entry into the UK insurance market have been circulating for at least 2 years; the news that it plans to set up a price comparison service, therefore, comes as something of an anti-climax, says insurtech Bought By Many co-founder Steven Mendel.
Insurtech firm Neos is focused on prevention first, payouts second. Matt Poll, chief executive and founder of Neos and one of the speakers at Intelligent InsurTech Europe, which will take place in October in London, chats to Intelligent Insurer about the company’s successes so far and current goals.
Ryan Specialty Group has a growing presence in the marine market — a confluence of market conditions and its own strategic decisions could mean further growth, as Intelligent Insurer finds out.
Insurtech companies have a unique opportunity to engrain diversity into their businesses from an early stage, says Gareth Eggle, principal, Eggle Consulting, who will chair a panel at Intelligent InsurTECH Europe 2018.
Insurer/managing general agent (MGA) Markerstudy defines itself as a digital company since embarking on a road of innovation and ultimately transformation five years ago—a journey that continues to reshape the company and which often yields some surprising results.