Digital Innovation

In a world of social, ecological and economic uncertainty today’s insurance businesses face diverse challenges, but remaining relevant to clients might be the greatest risk of all

See the highlights from our recent webinar, in partnership with S&P Global Market Intelligence

As the insurance industry becomes increasingly digitalised, new and unprecedented technologies are making data more accessible, accurate, and easy to consume, fundamentally altering the way information is exchanged – and the way the industry conducts business.

Over the last few months, it seems everyone has been talking about large language models – or LLMs – and how they are set to revolutionise the way insurance companies operate. But what do these models mean for the insurance industry? And do they really live up to the hype?

Much has been discussed about the transition of Lloyd’s to a truly data-first, digital marketplace which is API-enabled, but what do we actually mean?

Increased competition among electronic exchange platforms is bringing more options for brokers and underwriters, said James Pring, sales director, Ebix Europe.

Joe Peiser talks about innovation in the insurance industry, parametric cover, and the promise of data analytics and predictive modelling.

Companies globally face a multitude of risks, from the current volatile sociopolitical environment to the increased adoption of artificial intelligence (AI) and issues surrounding environment and social and governance (ESG). This has led to increased demand for insurance coverage from multinationals.

Join Insider Engage, in partnership with Eigen Technologies, for a free webinar, 10:30 am ET/3:30 p.m. BT, May 18

Join us on Apr 20 2023 at 10:00 AM BST for a webinar in partnership with S&P Global.

After five years and the ‘graduation’ of over 100 alumni, Lloyd’s is taking its insurtech innovation unit to the next level

Lloyd’s Market Association CEO Sheila Cameron is looking forward to an action-packed year: new regulation, digitisation and human resources development are all in the mix

Insurers should try out their digital transformation mechanics on small groups before rolling it out to their entire customer population, said Liam McHugh, principal consultant, Emergn.

Insurers can get bogged down using too many, or the wrong sort, of metrics to measure their digital transformation, said Jason Nash, vice president, consulting services, for Emergn.

Insurers with an adaptive mindset are better able to embrace uncertainty, said Louise Millward, principal consultant, Emergn.

Despite some obvious benefits, practical applications of the technology in insurance remain few and far between.

Brazil has taken the fast track to innovation in the insurance industry by implementing an Open Insurance project that aims to modernize and boost competition in the market.

When it comes to customer experience, insurance carriers are under immense pressure to keep up with the competition. Customer experience (CX) is now the number one differentiator for insurers, meaning carriers must optimize every single touchpoint in the customer journey.

A new report from Cognizant makes interesting reading in light of the latest update on Lloyd's Blueprint Two roadmap.

Live from Target Markets in Scottsdale AZ, Meg Green talks to Layla Atya about transactional liability and how she developed her product offering.

Join Insider Engage, in partnership with Worldpay from FIS, for a free webinar, 10:30 ET, Nov. 17

Digital transformation is not just a buzz word in the insurance industry, it’s the need to bring new products to market more quickly in order to compete with the growing number of digital natives entering the market, said Emergn's CEO and chairman, Alex Adamopoulos.

Being keen to gain insights into the untapped potential of the insurtech world, I was delighted to be granted an interview with Richard Chattock, CEO of Insurtech Gateway.

Join Insider Engage, in partnership with Airkit, for a free webinar, 12:30 ET/9:30 PT, Nov, 9 2022

All insurtechs have the potential to change the industry, but Insider Engage examines three to watch: Arbol, ICEYE and EigenRisk.

Applications now being accepted for the Inside P&C Honors 22

Swiss Re has partnered with Mercado Libre, Klimber and Prudential to deliver a digital life insurance solution in Brazil — taking a critical step forward to close the life insurance protection gap in the country, said Kaspar Mueller, Swiss Re's president of reinsurance for Latin America.