DIA Blog

Trōv: An entirely new way to insure the things people care about

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Trōv, ranked 5th in 2016’s top insurance tech-start-ups to watch, is a data collection application and digital insurance platform combined into one. It completely reinvents the way people insure their belongings. It harnesses information about all their items and lets the owner choose which things they care to insure for any desired period – a year, a month, a week, a day, an hour…
Trōv will launch the world’s first on-demand insurance platform in Australia and the UK in the first half of 2016. We are proud to have the premiere at DIA Barcelona.

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By: Roger Peverelli Posted on 9 February, 2016

Insurers getting off the bench: billions poured into insurtech exploration – going where and why?

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Photo credit: Casa Llotja de Mar

Photo credit: Casa Llotja de Mar

The FT opened last week with the announcement that (finally) the insurers are joining the fintech race, Aviva has a ‘Digital Garage’ in London, MetLife a lab in Singapore, AXA, Allianz, MassMutual and Ping An – to name but a few – have launched VC funds dedicated to insurtech hoping not only for a return (which they obviously do in these hard-up times of investment returns and interest rates), but also for expertise and experience in what insurtech firms do and how they can cooperate with those ‘new kids on the block’.

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By: Roger Peverelli Posted on 5 February, 2016

10 Insurtechs for dramatic cost savings

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Flavour 2 / Seven flavours of fintech in insurance

InShared; a camouflage caravan.

Photo credit: Still from ad campaign InShared; a camouflage caravan.

Winning insurtechs are those that tap into the key challenges insurance carriers are facing. In this post the second of seven different flavours of winners in fintech insurance: Insurtechs that drive dramatic cost savings.

By Roger Peverelli and Reggy de Feniks
Roger and Reggy are the founders of Digital Insurance Agenda and DIA Barcelona and the authors of the worldwide bestseller ‘Reinventing Financial Services’.

Although emerging markets are witnessing significant growth, most mature markets are saturated and experience margin pressure. This will show little or no change in the years to come.
Insurers are looking for ways to operate more efficiently in every major part of the costs column: in claims expenses, costs of operations and customer acquisition costs.
Technology purchases and investments by insurance carriers will further explode in these areas. And so will the number of fintech solution providers that want to cater to that need.

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By: DIA Barcelona Posted on 29 January, 2016

10 Insurtechs for superb customer engagement

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Flavour 1 / Seven flavours of fintech in insurance

Picture post 2

Photo credit: Brussels Airlines goes the extra smile.

In our previous blog we introduced the key challenges that insurance carriers are facing. Winning insurtechs are those that tap into these challenges to accelerate digital transformation. In this post the first of seven different flavours of winners in fintech insurance:
Insurtechs that drive superb customer engagement.

By Roger Peverelli and Reggy de Feniks
Roger and Reggy are the authors of the worldwide bestseller ‘Reinventing Financial Services’ and the founders of Digital Insurance Agenda and DIA Barcelona.


Customer engagement leaves much to be desired
Most insurers still have low Net Promoter Score ratings. In spite of all the efforts and investments in the last years, customers continue to experience a lot of frictions throughout the customer journey. And what is even more challenging, rising consumer expectations are more and more difficult to meet.  The frame of reference is set, not by the service offered by other insurers, but by what customers experience when they reach out to other brands, for instance when using their smart phone.

There are a bunch of reasons why customer engagement is the first flavour we are exploring in this blog series. We believe customer engagement is the key to turn digital transformation efforts into a lasting competitive advantage:

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By: Roger Peverelli Posted on 20 January, 2016

Seven flavours of fintech in insurance

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foto blog 1

Photo credit: Submarine surfacing Piazza Duomo in Milan at the launch of the Life Park Protection Store of Genertel, a concept store dedicated to life and protection.

Successful insurtechs tap into the key challenges insurers are facing. A sneak peek at the seven different flavours of winners in fintech insurance. Insurtechs that accelerate the digital transformation of the industry.

By Roger Peverelli and Reggy de Feniks
Roger and Reggy are the authors of the worldwide bestseller ‘Reinventing Financial Services’ and the founders of Digital Insurance Agenda and DIA Barcelona

According to CB Insights VC investments in insurance fintech firms almost quadrupled compared to 2014. NYC health insurance start-up Oscar became the posterchild for customer engagement, the proof that insurance can be made sexy. AXA launched AXA Strategic Ventures, a 200 mio euro corporate venture arm for emerging strategic innovations relevant to insurance. And so did among others Allianz, MetLife and PingAn. Mark Wilson, CEO Aviva, said ‘the industry is in the stone age’ and started hiring staff from Google and Amazon to update Aviva’s technology, Startupbootcamp announced its first insurance accelerator program in London, backed by Allianz, Admiral and Lloyds.

In our view, 2015 was just the start. We expect ‘insurtech’ to really take off in 2016. We see four key challenges that insurance carriers are facing. Each challenge drives sense of urgency at insurance firms to accelerate digital transformation. And each challenge also invites new entrants to move into the insurance space.

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By: Roger Peverelli Posted on 11 January, 2016