Tag: Data

In a field built upon numbers, data can be considered the cornerstone of success. In the InsurTech realm, this feeling is no different. But as modernisation and digitisation becomes ever more paramount in the business world, the transformative potential that harnessing accurate data has advanced tenfold.

In the ever-evolving landscape of insurance, the quest to better serve consumers is a constant battle. In an attempt to craft the ultimate value proposition for consumers, incumbents are harnessing the power of real-time data to revolutionise the way in which they operate.

Actuaries, often dubbed as mathematical risk managers, play a pivotal role in the insurance industry. Their expertise in quantifying and managing risk is essential for insurers in a market where financial responsibility for potential negative outcomes is traded. However, determining the cost of this responsibility isn't a straightforward task; it involves estimating expected losses akin to manufacturing costs for tangible goods. Yet, setting a price demands more than just knowing costs; it requires calibrating profit margins to market realities and consumer behaviours. InsurTech Quantee delves into the intricate process, known as price optimisation.

The European InsurTech deals sector suffered a sharp downturn in fortune in 2023, but the United Kingdom (UK) remained the pre-eminent force on the continent.

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. 

Underwriting is one of the most important parts of insurance. Improving this process will help an insurer better evaluate risk and offer better prices. The key to this is correctly leveraging the magnitude of data that now exists.

Cloud-based InsurTech Novidea has revealed it has joined the ACORD Solutions Group (ASG) Licensed Integrator Partner program to expand its global presence in the market.

Data-based solution developer Certua has entered into a new partnership with Covéa Insurance in a bid to boost risk management for small businesses.

Only 42% of health insurers in Europe have a consumer facing app, despite the rising importance of digitalisation, according to a new whitepaper from Scanbot.

AgencyKPI, a business intelligence platform aimed at solving data issues in the insurance space, has scored $5m in its Series A round.