Generative AI first appeared on the judging table in 2023. After being safely fed hundreds of submissions from insurtechs and insurers, a potent AI model combed through the data and identified six significant innovation patterns. In only a few minutes, what would have taken days or weeks was completed, providing an intriguing glimpse at the …
Insurers are being expected to do more than just digitize; they are being forced to reimagine in a world where disruption feels more like a continuous pulse than an isolated incident. The unseen scaffolding of the industry has long consisted of segregated functions, sprawling operations, and legacy technology. However, insurance businesses must simplify if they …
This goes beyond the technicalities of the policy. It is about what happens when economic realities clash with changing consumer expectations, aging populations, and climate change—and how governments are being compelled to step in when traditional insurers are reluctant.InsuranceCrisis Property insurance is the one area where this is most noticeable, particularly in coastal states like …
Insurers are no longer attempting to handle everything on their own these days. Rather than starting from scratch, they are creating vast, adaptable ecosystems—partner networks that bring in advanced technologies, huge data streams, and specialized expertise. Outsourcing is not what this is. It is orchestration. Real innovation is also being sparked by it. The Significance …
These awards have become more than just a platform for trophies since 2016. They now serve as a springboard for significant transformation. They feature insurtechs and insurers who are not satisfied with the current status quo and have the guts to reconsider how insurance functions in people’s lives. And the patterns for this year? They …
The primary factors influencing these changes—the growing amount of data being collected and used, as well as technology developments that make it possible to link this data to insurance products—will continue to influence how customers look for insurance. These developments are becoming essential to the future of insurance, regardless of whether people decide to work …
Satellite Data Provides a Different Perspective on Risk Abbey Compton and I examine how satellite technology is providing more precise, in-depth data than ever before in the most recent Insurance News Analysis. Cities are physically warming as a result of new data on excessive land surface temperatures in urban areas. The way insurers underwrite property …
Today? The bakery has changed into something much more intricate. These days, it takes more than simply bread, sugar, and a cozy shop. It’s: Point-of-sale platforms connected to outside suppliers A website that sells both domestically and abroad Payroll and accounting systems hosted on the cloud Worldwide vendors for branded merchandise, personalized boxes, and ingredients …
One is a 134-year-old behemoth with a long history and a global presence. The other is an innovator in the digital space who is hardly old enough to recall the days before Netflix. However, Allianz and Lemonade are subtly demonstrating the same thing: open insurance is not only feasible, but also effective. Here’s how two …
These are five significant, audacious, and essential forecasts for the appearance and feel of insurance by the end of 2025. 1.There will be no age wave. It has arrived and is revolutionizing the sector. Let go of your preconceived notions about aging. The median age in the world will increase to 32 by 2025, bringing …