innovation

That’s what we heard from Khushi, a high school student and organizer of last weekend’s 24-hour hackathon sponsored by Guidewire. Her goal was to get students involved in hackathons to prove to them that coding is fun. Hackathons link code to viable and creative outcomes, and they also give students a chance to compete for prizes and recognition. ... Read More >
Recently I had the pleasure of attending the Plug and Play 2018 Winter Symposium where InsurTechs “pitched” their value propositions in five minutes to a large audience of insurers and potential investors. In my final InsurTech blog for 2018, I highlight three interesting value propositions from the session. ... Read More >
When Guidewire announced the three winners of its 2018 Innovation Awards, I took a close look at the projects to find any similarities among them. They are indicative of the shift the entire P&C insurance industry has made in the past 5 to 10 years – prioritizing the customer experience. According to the “J.D. Power 2018 U.S. Insurance Shopping Study,” record-low volumes of new insurance shoppers, consistent price competition among insurers, and emerging InsurTech disruptors have forced insurers into aggressive customer courtship mode. No matter what’s behind the shift, it’s clear: The customer, whether it’s the policyholder or the agent/broker, is at the center of large P&C initiatives. ... Read More >
Factors such as gender, age, marital status, where you live, etc. can all affect your car insurance rate.  But, what if you could be priced based upon your driving behavior? Not your neighbors, but truly your own driving behavior. That is the value proposition that Root Car Insurance is bringing to market. Who?... Read More >
Last year, at TinTech 2017 – a technology strategy event in London - I remember a delegate from the audience suggesting that insurance companies should stop calling their products “Insurance”; as if there is no trust and value in that name any m... Read More >
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?... Read More >
Investment in Property and Casualty (P&C) InsurTech may have taken a short breather in Q1 2017, with 23 deals when compared to 27 deals in Q4 2016, or the record 42 deals in the Q1 2016.  However, interest in new innovations in the industry shows no sign of waning, judging by the record attendance at InsurTech events, in... Read More >
One of my favorite rock bands is Daft Punk.  They are the Grammy award-winning duo famous for songs like “Get Lucky” and “Robot Rock”.  I don’t just admire them for their incredible music, but because they are innovators.... Read More >
As highlighted in a recent report by the World Economic Forum, insurance appears to be the sector potentially most impacted by the Internet of Things trend. Its value chain could be profoundly impacted by these technologies, so it’s time for a strategic reflection at an industry level.... Read More >
There has been some recent news coverage suggesting that insurers should start to consider their core operational systems as ‘commodities’ and that their innovations will come from other areas of technology.... Read More >

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