By sharing granular risk data in an open market, brokerages and carriers can eliminate costs and create a new insurance model.
New technologies are lengthening the tenure of older claims professionals, attracting younger ones and revitalizing a sagging field.
August 28, 2018 The Council partnered with Travelers in a three-part series on data analytics for claims and risk management. In the first episode, Bill Rickelman and Kevin Mahoney discussed
In other news, the “golden children” of Insurtech startups, Lemonade, Root and Metromile, have reported a struggle to increase product and get a handle on their loss ratios. After making
He saw the value in big data long before the industry caught on.
Although insurtech funding continues to increase across all areas of the insurance value chain, we have yet to see groundbreaking change in the mid-large commercial property/casualty space.
Q1 saw explosive growth in the insurtech sector, attracting interest from investors outside the insurance industry, and driving 155 percent YOY growth.
Read some highlights found in the Q4 2017 Willis Towers Watson, Willis Re and CB Insights Insurtech Briefing.
If we can identify the gaps and opportunities that exist, it will be easier to prepare and create innovative solutions when those customer needs/expectations/preferences present themselves in the commercial marketplace.
In a previous spotlight newsletter, we asked readers to identify the technology that will have the greatest market impact in 2018, and the winner was artificial intelligence (AI).