Insurance carriers could increasingly target insurtechs for acquisition and partnerships in the coming months due to pandemic-related economic uncertainty, according to a report. “As insurers move toward late 2020 and into 2021, we believe there may be an increase in …
COVID-19 has changed many things in the insurance industry. Seemingly overnight everyone is working from home and the companies with the best digital customer experiences have the advantage. Yet, commercial lines insurance has a long way to go when it …
As insurers embrace insurtech in multiple ways, The Hanover Insurance Group’s Richard Lavey offers some advice: Not everything works as initially envisioned, and that’s OK. “‘If you build it, they will come’ is not necessarily how this plays out,” explains …
Remember the scene in the 1989 movie When Harry Met Sally? During lunch with Harry at a deli, Sally very publicly fakes a wild orgasm. A nearby patron, when asked what she’d like to order, signals in Sally’s direction and …
The Hartford has appointed Christopher Lowell to lead its Small Business Innovation Lab, which will design and test new products and business models to meet the needs of The Hartford’s small business customers. “The lab is part of the company’s …
Pulling together some loose threads from October’s Insuretech Connect Conference, here are 10 takeaways: Innovation Rap. “I actually feel the industry gets a bad rap in terms of innovation,” Dan Glaser, Marsh McLennan Cos. CEO, told the roomful of innovators, …
Technology-oriented insurance startups and established small mutual property/casualty insurers may find they are better off partnering than competing. Mutual property/casualty insurance companies continue to face heightened competition amid an insurance industry that is being transformed by technological, economic and demographic …
The insurance industry is experiencing a convergence with technology that is transforming the way it develops products, underwrites, prices and sells policies, and services its customers. This change can seem disruptive, so it’s critical that insurance companies better understand how …
Startup insurtechs need partnerships more than they need money from insurance carriers, according to one leading venture capitalist actively funding insurance technology firms. Venture firm XL Innovate’s Martha Notaras told Super Regional property/casualty insurer executives looking to get involved in …
