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Keith Stonell

Keith Stonell

Keith Stonell is Managing Director, EMEA.

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How travel insurance may fly in 2021 thanks to AI and analytics

As restrictions on international travel are lifted for UK holidaymakers, demand for travel insurance products is clearly set to rise. With ‘freedom day’ now on the horizon it is good news for travel insurers, whose business has been suspended for the last 18 months. However, they will be re-entering a very different landscape to the one they left over a year ago. How they choose to address new concerns with appropriate products and technology-driven strategies will define the success of a re-emerging travel market.
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The insurtechs are coming to get you! What to watch in 2021

In the world of insurtech, it is typical to make bold predictions about the state of the market and where it is headed. The fact is, however, that as the market matures investment in companies is becoming more concentrated and ‘trends’ are more long-term.
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Lloyd’s of London Blueprint Two claims to show the way

At the beginning of the pandemic, there were perhaps few institutions that looked less well equipped to function under social distancing than Lloyd’s of London. Synonymous with antiquated practices and the primacy of dealing face-to-face, business at Lloyd’s should have ground to a halt this year.
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Has lockdown broken the magic of brokers?

Insurance brokers have always had a special relationship with their customers, one that some might have felt was impervious to change. Due to the current pandemic and the lockdown measures related to it, brokers, along with many other professionals have had to reimagine the ways in which they do their jobs and interact with their customers.
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Customers Are Looking to Insurers for Stability in 2021

Like everyone else, insurers have had a tough year with COVID-19 and the ensuing economic uncertainty. The sudden re-modelling of their businesses around mass working from home, the collapse in the markets for travel and other insurance products through to the difficulties around claims for business interruption insurance, are all factors that have affected insurers and their relations with customers.
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Is working from home actually best for customers and employees?

You will have done well in the last few months if you have avoided talk of the ‘new normal’ and the paradigm shift many of us have experienced in working practices. In many ways, the changes that have been forced upon us are a good thing. People have wanted more flexibility in their lives for some time and the largely positive experiences many businesses have reported in the move to home-working means that flexibility is likely to be the norm once lockdown is over. Long-established institutions, like the London market, have, thankfully, been forced to confront the fact that the world has not fallen apart following the adoption of radical new processes and have been very successful in doing so.
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The great insurance disappearing act: what is the industry’s role in an ecosystem economy?

The sale of goods and services is becoming increasingly part of an ecosystem economy. From vehicle leasing to managed networking services, business models that combine different goods and services are more and more commonplace.
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Are insurers’ heads in the cloud?

We are all adjusting to new ways of living and working and one such adjustment, I’m sure many of us have now encountered, is the virtual conference. Beyond the obvious upsides such as not having to deal with the travel, the jet lag, the hotels, and the bad coffee, the virtual conference experience has been an interesting and enjoyable one...
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Does Lloyd’s Have the Insurtech Blueprint for the Future?

In September 2019, the world’s oldest insurance marketplace made yet another announcement about how it would transform itself for the future. The announcement of the Lloyd’s Blueprint One had been well signalled when Lloyd’s announced the Future of Lloyd’s Prospectus back in May. This was followed by a consultation exercise that wrapped up in July...
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It's the quiet ones you've got to watch...

Cyber-attacks are hardly new news, but they are an ever-changing threat. The cyber landscape does not stand still for long, and with each new technological innovation, hackers find new vulnerabilities to exploit for their benefit. Even with existing technology, hackers never cease to find new ways or loopholes for intrusion. The threat is coming from everywhere: past, present, and new technologies...
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Technology Can Help Insurers Respond to FCA on Charges of Poor Customer Service

Back in April, the CEOs of UK insurers, brokers, and other providers, received a letter from the Financial Conduct Authority (FCA) telling them to sort out poor customer service or else...
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White List - Is your glass half full?

Fraud is an ongoing headache for the insurance industry. The Association of British Insurers reported that the industry detected 113,000 dishonest insurance claims in 2017, equating to a value of £1.3bn. The total number of detected insurance frauds, which also accounts for practices such as lying when applying for cover or ‘ghost broking’, was over half a million at 562,000...
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Roots Manoeuvre: IoT Helps Insurers Join the Dots

The value of the Internet of Things (IoT) to the insurance industry is becoming understood but there is plenty of room for even more innovation. The roots of IoT applications in insurance lie in how telematics were used to support early blackbox insurance for younger drivers. Early applications of this technology were being talked about over a decade ago on the BBC, for example...
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A Little Less Conversation, a Little More Action in Insurance!

Towards the end of last year, I attended a major insurtech conference. As ever, the week was packed with interesting debates and stories about how technology is impacting the insurance industry and how insurers are reacting to changing customer demands. One of the key takeaways concerned the manner in which customers might soon be communicating with their insurer. Talk becomes action..
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The challenge of pricing cyber risk - does it feel like nailing jelly to the wall?

According to the Allianz Risk Barometer 2018 business owners consider cyber incidents to be the second greatest threat to their organisations. Cyber threats were second only to business interruption, with respondents citing a cyber incident as the most feared cause of business interruption...
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Come the data revolution: predictive analytics and the future of insurance

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Come the data revolution: predictive analytics and the future of insurance

Can predictive analytics forecast if predictive analytics will transform the insurance industry?  If you were to ask someone ten years ago, you might have thought ‘yeah right.’..
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2018: The Year Insurtech and Data Analytics Pay Their Way

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2018: The Year Insurtech and Data Analytics Pay Their Way

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 ..
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Insurtech and Bots in 2018: Should insurers dream of electric sheep?

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Insurtech and Bots in 2018: Should insurers dream of electric sheep?

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...
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Rise of Insurtech Mirrors Middle Ages

Historians use eras to help map out the big gearshifts in economic and social change in retrospect. For the people who lived during those periods, well-known historical terms like the Middle Ages would have been unknown. For example, a medieval peasant knew they were a peasant but not that they were a medieval peasant.  Medieval was a term first coined in 1604, more than a hundred years after the Middle Ages are said to have ended...
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Everybody’s Talking Blockchain. What does it Promise for Insurance?

There is a huge amount of buzz around blockchain and many explanations out there for what it is, and its likely benefits for financial services, especially banking and finance...
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