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image Have we seen the future of insurance? No, unless you have conquered the whole space-time continuum thing, or yours is a parallax view of the insurance industry to come. Is there good discussion and collaboration addressing what that future might be? Yes, if this week’s buffet of InsurTech news pieces is any indication, and […]
The post What is the future of insurance? appeared first on Daily Fintech.
image The Innovation road diverged in an InsurTech wood, And while I wanted to travel both And be one searcher, long I stood And looked down one as far as I could To where it was lost in unknown techo growth; Then took the other, as just as fair, And an improving process that […]
The post Two insurance innovations roads to be taken- it’s not all tech appeared first on Daily Fintech.
image If 40% of the U.S. and EU business owners do not have property and liability insurance, and 70+ % are underinsured, and the existing market is already more than US $60 billion in premiums, is there not an opportunity for growing the commercial line business, particularly for small and medium size enterprises (SMEs)? Of […]
The post SME insurance- you can lead a horse to water, can you make it drink? appeared first on Daily Fintech.
Image Take a US $8 billion dollar insurance business that serves more than 7 million customers annually regarding residential real estate assets valued at more than US $5 trillion, that’s working in a regulated, politically hyped environment and one might see opportunity for innovation. Throw in significant exposure to regional wildfires and urban area earthquakes, […]
The post Wildfires and disasters- ecosystem opportunity to leverage InsurTech and innovation appeared first on Daily Fintech.
Image Take a US $8 billion dollar insurance business that serves more than 7 million customers annually regarding residential real estate assets valued at more than US $5 trillion, that’s working in a regulated, politically hyped environment and one might see opportunity for innovation. Throw in significant exposure to regional wildfires and urban area earthquakes, […]
The post Wildfires and disasters- terribly good opportunity to leverage InsurTech and innovation appeared first on Daily Fintech.
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.