Blockchain should be viewed as a “team sport” by the risk-transfer industry as opposed to a specific technology; more a way of connecting companies and people and gaining efficiencies.
More life insurance businesses are starting up than general insurance (GI) businesses, according to analysis by Policy Expert, the digital home insurer.
London-based insurance start-up Dinghy has announced the appointment of Dorian Zanker as chief executive as part of its strategy to accelerate its growth in the UK and international freelancer business insurance market.
Marine insurer Gard has appointed Christian Pritchard-Davies as its chief financial officer, effective from January 1 2020. He is currently vice president - head of infrastructure and operations at Gard.
“There’s a joke in the insurance industry that ‘smart contracts’ are neither smart nor a contract,” said Ronnie Kher, business development director at insurtech firm R3, with a smile as he went on to debunk this myth.
Amid the cacophony of noise and hype around the insurtech sector and its potential to revolutionise the risk transfer industry, participants would do well to take a step back occasionally and consider some of the human implications of the changes facing the industry—and how they might better understand those.
Rigid internal structures are the biggest obstacle preventing insurers from embracing new data analytics systems, according to Todd Rissel, CEO of e2Value.
Insurers should look to Amazon’s relationship with its customers for inspiration about how they should interact with their customers, according to Jocelyn Getson, head of SMB strategy and innovation at Slice.
Insurers that are late to integrate application program interfaces (APIs) and artificial intelligence (AI) into their offerings will suffer adverse selection scenarios over time, according to Hamzah Chaudhary, director of deployment at Cytora.
The insurance industry is particularly ripe for Intelligent Automation (IA) given the high volume of unstructured information being received and processed by insurers, according to Mike Hobday, senior vice president at AntWorks.