Auto Added by WPeMatico
Economic game theory has resided at the core of insurance underwriting for some time but might be losing its luster through the advent of price aggregators. ‘Gamification’ through behavioral economics is gaining traction concurrently in the industry, that is, devising schemes to engage insureds more often with their policy than simply at annual renewal. More […]
The post Insurance- not all fun and game theory appeared first on Daily Fintech.
Are there common threads for or against the industry changing customers’ insurance viewpoints among these data points? $82.6 billion spent by insurers in 2018 on tech- U.S. market[i] $1.2 trillion- 2018 premiums, U.S. P&C market[ii] Record cash surplus for U.S. P&C firms- $802 billion as of 9/2019[iii] $3.1 billion in 2018 global InsurTech funding, $8 […]
The post Cool data points for the U.S. insurance industry- do customers care? appeared first on Daily Fintech.
Patrick Kelahan is a CX, engineering & insurance professional, working with Insurers, Attorneys & Owners. He also serves the insurance and Fintech world as the ‘Insurance Elephant’. There has built during the past few years an InsurTech chase to ‘unicorn’ status not uniformly based on NPV, but on growth. Fellow Daily Fintech columnist, Ilias Louis […]
The post ‘Growth’ valuations for startups- losing its allure? appeared first on Daily Fintech.
Patrick Kelahan is a CX, engineering & insurance professional, working with Insurers, Attorneys & Owners. He also serves the insurance and Fintech world as the ‘Insurance Elephant’. It’s a week since ITC 2019 wrapped up for the 7,000 attendees; debriefs and observations abound- kind of. McKinsey & Co. posted a follow-up on the themes that […]
The post Hope springs eternal- did ITC 2019 foster a ‘customer first’ future for InsurTech? appeared first on Daily Fintech.
Patrick Kelahan is a CX, engineering & insurance professional, working with Insurers, Attorneys & Owners. He also serves the insurance and Fintech world as the ‘Insurance Elephant’. Just as swallows return to Capistrano, the insurance innovation world returns to Las Vegas for its InsureTech (sic) Connect conference, this year attended by 7000. Well, if Jay […]
The post ITC 2019 as mixer, and a mixed bag of InsurTech topics appeared first on Daily Fintech.
Flood insurance has been a wallflower at the coverage dance- an eager participant but not able to find a suitable partner. Innovation efforts have found suitable risk prediction partners for carriers- FloodMapp, Hazard Hub, and Previsco among others- but is the flood insurance market ready? Politics, inertia, customer preferences and regulation might keep the music […]
The post Flood risk AI is now a reliable tool- is there a desire to put it to work? appeared first on Daily Fintech.
image The customer- easily overlooked on innovation’s path, and the continuous need for insurance companies to keep the customer as the ultimate focus of any innovation efforts. It’s a good week to revisit a favorite topic of mine; after presenting sessions on mobile claim applications to adjusters at the Property and Liability Research Bureau’s regional […]
The post InsurTech efforts and the customer- who is being served with tech? appeared first on Daily Fintech.
A person has three choices in life. You can swim against the tide and get exhausted, or you can tread water and let the tide sweep you away, or you can swim with the tide, and let it take you where it wants you to go. source Clever words for one’s life path, perhaps […]
The post On the tides of insurance innovation appeared first on Daily Fintech.
TLDR For the common good the policyholders will corporate with each other. The contribution of the policyholders is considered donations. To help those who need assistance, all their policyholders will pay their share. The liabilities are shared according to the pooling system of the community and losses are divided. According to compensation and subscription, […]
The post Always something new to learn under the insurance sun appeared first on Daily Fintech.
Image TLDR It wasn’t that long ago that production and retail inventories were gauged by the space available in which to store the supplies/goods. Then some smart people determined that in a well-managed, lean operation inventory could be obtained upon instant need, and thus Just in Time (JIT) Inventory principles were developed. Is the […]
The post Just in Time insurance- only what you need, when you need it appeared first on Daily Fintech.