InsuranceNext

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Hey InsurTechs: Here's why you will likely fail

Despite the massive amount of money being poured into InsurTechs, there are some clear signs of potential failure.

Driverless cars may cut traffic jams, not insurance premiums

As a handful of fatal accidents involving autonomous vehicles has made clear in recent years, insurance coverage will probably evolve, not disappear. …

The Insurance Industry’s Chance to Address Distracted Driving

<i>(Image source: Adobe Stock.)</i>With the ubiquity of smartphones in our everyday lives, we’ve seen a dramatic increase in distracted driving. A sad …

Insurers’ Innovation Labs Shouldn’t Innovate

<i>(Image credit: Adobe Stock.)</i>Innovation labs in the insurance sector are struggling. This is bad news for established players which increasingly rely …

Pay Per Mile Insurance—Advantages for Insurers | Insurance Innovation Reporter

<i>(Image credit: AdobeStock.)</i> Pay-per-mile (PPM) insurance is a growing auto insurance product segment that can help lower a driver’s monthly auto …

Digital insurer Next becoming licensed carrier

What’s next for digital insurer Next Insurance? The company, which offers small business customers policies online, is becoming a licensed carrier in …

10 ways AI will change business in the next five years

In its new report on data and artificial intelligence trends, Gartner explains that “our 2018 predictions for AI are cued to the way it is diffusing. …

QBE Insurance betting big on AI | Digital Insurance

QBE Insurance Group’s venture arm continues to invest in artificial intelligence companies that offer products that can automate and streamline the …

Former MetLife CIO launches startup focused on digital sales

Over a two-decade career in financial services technology, which culminated in a three-year stint as the global CIO for MetLife, Gary Hoberman felt …

Leak prevention tech taking a big leap into insurance

Water damage from pipe faults was the second-leading cause of homeowners' insurance claims in 2016, according to the Insurance Information Institute …

Big data, advanced analytics tools driving growth in data lakes

The explosive growth of big data coupled with advancements in data lakes analytics is expected to drive growth of the data lakes market in the coming …

Root Insurance adding tech staff to support ambitious growth plans

Root Insurance, which uses data science to identify and insure good drivers, recently made a number of moves to support its ambitions to become a …

MassMutual and Liberty Mutual take the 'lab' concept to the next level

Insurance companies are working tirelessly to transform a once stagnant industry. As such, carriers are exploring several avenues to spur innovation, …

The insurance industry needs social media data

Whether an insurance company relies on the first post to act or decides to wait until the volume of social media posts mushrooms, the corroborative …

The art of personal selling in the digital age

Navigating the IoT data flood

The Internet of Things is collecting vast amounts of data that insurers must now convert into usable information to provide a better picture of …

CAA Selects Octo to Power CAA MyPace Pay-As-You-Go Program

<i>(Image source CAA MyPace web page.)</i>CAA Insurance Company (Thornhill, Ontario) has selected Octo Telematics to support its CAA MyPace, a pay-as-you-go …

iPipeline Launches InsureSight Analytics with Premier Brokerage

<i>(Independence Hall, Philadelphia. Photo credit: Rdsmith4.)</i>iPipeline (Exton, Pa.), a provider of distribution-related software solutions for the life …

ANZ Bank and IBM Develop Insurance Industry Blockchain Solution

<i>(Auckland from the Photo credit: Alexander Efimov.)</i>ANZ Bank New Zealand (Auckland, part of ANZ Bank, Melbourne) and IBM (Armonk, N.J.) in conjunction …

CCC Introduces AI Damage Detection for All Major U.S. Vehicle Types

<i>(Image source: CCC website.)</i>CCC Information Services Inc. (Chicago), a major provider to the automotive, insurance, and collision repair industries, …

Uber and AXA join forces to set a new standard for protection of independent drivers and couriers

Uber and AXA share the belief that everyone, including independent workers, should have the option of benefitting from optimum protection for …

AXA and BlaBlaCar launch BlaBlaSure, the first insurance offer for ridesharers

AXA and BlaBlaCar have jointly developed BlaBlaSure, an insurance offer for ridesharers. This novel annual car insurance offer will be available to …

METLIFE LAUNCHES PLANSMART® FINANCIAL WELLNESS

METLIFE LAUNCHES PLANSMART® FINANCIAL WELLNESS<p>~ The Integrated, Multi-Channel Financial Wellness Solution Empowers Employees to Take Action on Their …

XL Catlin announces insurance solution for autonomous technology developers

Insurance heavyweight also establishes new line-up to support underwriters, brokers, and clients

The three new types of insurance customers

Munich Re expert discusses the latest customer trends and the opportunities they bring

Brokers predict changes to claims processing

"The trained talent will have left the cesspool," says one respondent

INSURER OF THE YEAR

GOLD WINNER: <b>CGU</b><br>Score: <b>3.27</b><p>SILVER WINNER: <b>ALLIANZ</b><br>Score: <b>3.26</b><p>BRONZE WINER: <b>VERO</b><br>Score: <b>3.23</b><p><b>Industry average: 3.00</b><p>When the final scores were tallied, the race …

How life insurers can stay relevant

A recent dialogue paper reveals what the industry must do to enhance consumer outcomes and to remain efficient, safe, and stable

Why Insurance Industry Should Embrace, Not Fear, Artificial Intelligence

Artificial intelligence isn’t the cold, job killing disruptor many fear it to be – at least it won’t be for many years to come, says Jeff Somers, …

53% of insurers opting to develop AI capabilities in-house, study finds

Improving front-end customer experience remains the top priority and accounts for 58% of all the analyzed artificial intelligence use cases among …