Insurtech
InsurTech emerged as a sector within the global insurance industry around a decade ago as innovative start-ups looked to deploy technology to transform the insurance industry. InsurTech start-ups now number in the thousands with new entrants continuing to look for ways to modernise the insurance industry. The Future at Lloyd’s initiative is one of several opportunities for innovation and change, with several companies investing in the development of new tools to drive up revenue and drive down costs.
'Culture is vital if insurtech leaders are to get ahead in the race for talent'
It is often too easy for a start-up’s founders to end up consumed by funding and scaling at the expense of shaping a culture that will support the company’s growth
'Blockchain will radically transform the microinsurance market'
Insurtechs are working with insurers and distribution partners to drive economic growth in developing regions, and create sustainable, resilient futures for underserved communities
Focus: The industry must continue to drive claims management into the insurtech era
The industry can’t afford to take its foot off the gas pedal with respect to digitalisation, especially given the significant momentum that it has gained over the last 12 months
Focus: Four trends in insurtech that are transforming the market
The insurtech landscape is evolving rapidly and it is critical to understand the main business models that are shaping the future of the market at present
Focus: Slow authorisation is a threat to London’s insurtech status
The FCA estimates the authorisation process for new insurtech ventures takes between three to four months – in reality it is taking up to 12 months
Focus: Insurtech ecosystem will overcome London's legacy challenges
The development of new technology ecosystems is the most effective way to break down silos and achieve systems integration and genuine collaboration in the London market
Focus: Insurtech can unlock the potential of Africa’s insurance markets
African markets have the most to gain from insurtech, but a number of challenges must be addressed before success is guaranteed
'We must collaborate to innovate'
Digital ecosystems have brought new levels of connectivity, efficiency and innovation to sectors like fintech over the past decade. The insurance market is finally catching on
Insurtechs are ‘rewriting Africa's insurance narrative’
Innovative technology firms are driving health insurance inclusion and impact at scale in Africa and providing solutions to the cash flow problems faced by healthcare providers on the continent
Viewpoint: Capacity, technology and trust are essential to mitigating flood risk
A partnership based on collaboration and trust between policy holders, insurance carriers and insurtechs have never been more important
Viewpoint: Covid is driving insurtech adoption in Latin America
The pandemic has shown local insurers that the role of insurtechs is not to take away business but to help them stay close to clients by facilitating access to new distribution channels
Profit and volume 'key to successful insurer-insurtech partnerships'
Incumbents are under pressure to grow their partnerships with insurtechs to scale at an acceptable loss ratio in order to recover their investment in a shorter timeframe than previously envisaged
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