Features

In today's business landscape, prioritising the customer experience (CX) has become a ubiquitous concern across all industries. In the InsurTech realm, competition is intensifying, and insurance providers are increasingly recognising the pivotal role of the CX in attracting and retaining clients. FinTech Global sat down with a pair of industry experts to dissect this phenomenon. 

2024 marks a pivotal chapter in the dynamic world of InsurTech, where innovation and technology converge to redefine the insurance landscape. From AI-driven risk assessments to the emergence of Generative AI, this year is set to herald in a new era that will revolutionise how insurance firms operate. As digitalisation accelerates and customer expectations evolve, 2024 is set to see a disruption to traditional models, offering personalised solutions, streamlined processes, and enhanced customer experiences.  

As the spotlight on Environmental, Social, and Governance (ESG) issues intensifies, insurance companies are faced with the complex task of aligning their strategies with the broader ESG landscape. As new research from Solera surfaces suggesting that customers are increasingly seeking proof of ESG commitment, FinTech Global examines how these ESG considerations are affecting insurers.

The digital transformation of the insurance industry has been underway for many years. Carriers have drastically improved their efficiency, speed and accuracy through the implementation of new technologies. Now the sector may be looking towards data analytics to make the latest leap in the space. 

The turbulent financial market is forcing companies to increase the scrutiny of their budgets. Rather than simply allowing hype to dictate their spending, firms are starting to see whether their initiatives are generating enough value. One of the areas that could be on the chopping block is public cloud, according to Joel Berwitz - Managing Consultant at technology transformation company CNNECT.

The InsurTech sector for commercial insurance carriers has not evolved as quickly as expected, according to Joe Lettween, chief innovation, data science, and technology...

Founded in 2009, Novidea’s born-in-the-cloud end-to-end platform provides real-time business intelligence and seamless workflow management for brokers, agents and MGAs to manage the customer...

Unless you’ve spent the past year under a rock, you’ll be aware of the excitement for generative AI. While many have used the technology to write emails, do homework or create CVs, generative AI could be one of the most transformative technology stacks to businesses. Laila Beane, the chief marketing officer at IntellectAI, the insurtech and wealthtech brand of Intellect Design Arena, recently delved into generative AI’s impact on insurance.

Tradition is something to be honoured, but not at the expense of progress. In recent years insurance carriers have moved away from paper forms, and instead implemented digitalisation throughout their product. But there is more to come. In particular, the digital transformation of underwriting still remains a key headache.

Founded in 2005, Ascent has a key mission: help insurers and reinsurers become more profitable by accelerating their ability to transact. We recently spoke to CCO George Earp and Principal Architect Konrad Pfeffer to find out more.