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InsurTech vs InsuranceTech – Who’s Winning?

When the term ‘InsurTech’ first entered the business lexicon, ‘disruption’ was a frequent follower.  Typically, the new technology impact was targeted at Insurers and licensed distributors (agents, brokers, MGAs, etc.).  However,  we may be entering a collaboration period.  Will this truly take hold? Where did the InsurTechs come from? While there had been digital tech… Read more »

Pitch Competition Hits the Mark at InsurTechTO

By Doug Grant, Partner, Insurance-Canada.ca Toronto, ON (Nov. 13, 2017) — One of the most exciting sessions at InsurTechTO was the pitch competition. Six emerging startups  showcased their ideas for a technology-enabled solution for the insurance industry to five expert judges before an audience of more than 200. Each startup had three minutes to sell their… Read more »

InsurTech: A Shifting Global Balance of Power

Quarterly InsurTech Briefing London, UK (Nov. 1, 2017) – The Third Quarterly InsurTech Briefing from Willis Towers Watson, the leading global advisory, broking and solutions company, examines how technology has the potential to disrupt national insurance markets and alter the global balance of power between (re)insurers in developed markets and those in emerging economies. The… Read more »

Canadian InsurTech startup Covera raises $1.5M

InsurTech startup Covera raises $1.5M Seed round led by Ferst Capital Partners to make automatic insurance renewals a thing of the past Montreal, QC (Oct. 17, 2017) – Covera Technologies Inc., a Montreal-based InsurTech startup that uses technology to find its customers optimal insurance rates every year, has raised $1M as part of its seed… Read more »

Are InsurTechs and Insurance Execs Reaching Common Ground?

At the outset, the InsurTech movement has focused on disruption of the insurance industry and its organization.  However, InsurTechs may be finding that it is easier to join the insurance incumbents, not fight them.  Does this mean insurers are drinking the kool-aid, or that they are reaching into their innovative insurance core? All insurers are… Read more »

InsurTech Is Triggering Transformation in Personal Lines

Boston, MA (Oct. 4, 2017) – Strategy Meets Action (SMA), a leading insurance strategic advisory firm, has just released a new research report, InsurTech and Personal Lines: Examples, Use Cases, and Implications. The report analyzes the current state of the InsurTech world by assessing approximately 600 startups that SMA has identified as relevant for personal… Read more »

Most InsureTech Startups Not Direct Threats to Insurers: Novarica

InsureTech startups provide opportunities for carriers to learn and form partnerships Boston, MA (Sept. 26, 2017) – The insurance industry is buzzing about InsureTech; however, despite the obvious importance of InsureTech industry, most of the media in the space is directed towards innovators and investors. This approach neglects to address the two basic questions asked… Read more »

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Insurance Industry Faces Digital Disruption on All Fronts

Capgemini and Efma’s World Insurance Report highlights the growing popularity of InsurTech services among consumers and offers insight into opportunities for incumbents New York, NY (Sept. 13, 2017) – The 2017 World Insurance Report (WIR), released today by Capgemini and Efma, finds that a wave of new digital technology is confronting most insurance sectors. While… Read more »

Life Insurer Survey Finds Nearly Half of Respondents Are Operating Without a Digital Strategy

Gartner and LOMA Joint North American Life Insurer Survey Stamford, CT (Aug. 17, 2017) – A recent survey by Gartner. Inc. and LOMA revealed that digital maturity among North American life insurers remains low, with 49 percent of the survey’s respondents having no digital strategy in place and many without an understanding about how digitalization… Read more »

Disruption: 50 Years On

Disruption is very much in vogue as a target  for new technology.  But disruption is not a recent development.  As a fully invested boomer, I have been thinking about the 50th anniversary of 1967 – a year of fundamental disruption.  Two events stand out in my mind, the latter relating directly to insurance and the importance of… Read more »