Blog Archive

January 2018

As the new year gets into its stride, I can see the insurance industry heading in some exciting directions. The starting point is how the past year has witnessed InsurTech and Data Analytics make big inroads. However, the year ahead will be about how those ideas and blueprints are turned into more concrete outcomes for insurers.

Data listening monetises managing 21st Century risks

The movie Blade Runner (and the novel it is based on, Do Androids Dream of Electric Sheep?) depicts a future world where artificial intelligence is taking over. It is a striking dystopia where robots – the replicants – have more humanity than their human masters.

Reimagining the future of insurance can get a little bleak too. Insurers might be concerned about InsurTech’s rise and its challenge to both the old ways of doing insurance, and even the need for insurers at all.

With 2018 upon us, many P&C insurers are focused on determining which trends to jump on (i.e. which will serve them best?) this year and beyond. Here, we have compiled three trends that we believe P&C insurers should start investigating right away — a mobile-first strategy, chatbots, and the on-demand economy.

Mobile-first

Because FOMO

definition: /FO-MO/ - Fear Of Missing Out. Anxiety that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on social media or incoming text messages on your phone.

is a real thing. 

Who?

Around the globe, automobile insurers are dealing with a new hazard in driving. With the proliferation of smartphones and connected car technology, more and more drivers are distracted while driving.

65% of the 18-29 age bracket do not have life insurance policies.

Princeton survey, 2017   

Now, there are many reasons for this, such as low income, not being married, and not having children, but the question remains: how does a carrier effectively target this younger market?  Read below to learn more about Quilt Insurance and the enterprising way they are providing life insurance quotes.

Who?