The Top 10 Insurtech Trends for 2017 that set the Digital Insurance Agenda

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December is usually the month to predict key trends for the year to come, and so it goes with the insurtech sector as well.  Most lists focus on the latest sexy technologies and applications, but, after a year, we find these have hardly gained any traction and so cannot really be considered “trends” in our view. To call something a key trend, new and innovative is not enough. It requires adoption at scale. We, therefore, decided to take a different approach, resulting in quite a different kind of list.
December is also the perfect month to think of New Year’s resolutions. Being consultants for several blue chip insurers, speaking at conferences and attending boardroom meetings, we meet insurance executives on a daily basis.  Consequently we have a fairly good idea about what’s at the top of their agenda as well as the pace in which change will take place, and in turn what insurtech solutions are most likely to fit into those plans.  These insights resulted in our Top 10 Insurtech Trends for 2017, illustrated by some awesome insurtechs that joined us at the previous DIA event. Read more

By: Roger Peverelli Posted on 21 December, 2016

DIAmond Award winner Trōv closes US$25.5M in funding

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During DIA Barcelona 2016 over 550 attendees awarded Trōv with a DIAmond Award as insurtech with most strategic impact. Their on-demand insurance offering enables consumers to insure just the things they want—exactly when they want. Trōv’s innovativeness has attracted major new funding and they just announced their official global launch.

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By: Roger Peverelli Posted on 10 June, 2016

Blockchain and InsurTech: Time to overtake the banks

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In general we see in technology that whatever happens in banking emerges in insurance a few years later. This is by no means a ‘lashing out’ at insurers, it is almost engrained in the business: even less customer contact than banks, long(er) term contracts and intrinsically connected with risk & fraud management, strict compliance: a tough place to change fast.

One of the reasons why Roger Peverelli, Reggy de Feniks and myself kicked off the Digital Insurance Agenda was putting this right. We want to make sure that there is as open and vivid a dialogue on technology and innovation in the insurance industry as there is in banks. Much more money is being poured into bank related fintech than in insurtech to date, more events, more platforms, more everything. And much more is written about Blockchain and banking than Blockchain and insurers. Obviously the Bitcoin currency initially pulled all attention towards the payments angle, how Bitcoin would disrupt that space and enable a clearing house free international exchange of funds.

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By: Roger Peverelli Posted on 20 May, 2016

Engaging with the innovation ecosystem

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The first event that Celent ever ran on the topic disruptive innovation in insurance was at the start of 2012. It’s almost hard to believe that just four years ago there seemed to be very little debate across the industry on the topic. Today, in stark contrast, whenever we ask a panel of insurers to rate the importance of innovating in the next three to five years, typically around 85% note it as critically important to achievement of their strategy. Clearly, things have moved on…

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By: Roger Peverelli Posted on 5 May, 2016

DIA Barcelona announces winners DIAmond Awards 2016

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The 500+ insurance thought leaders that attended DIA Barcelona during 20-21 April awarded 6 companies the prestigious DIAmond Award for the insurtechs with most strategic impact.

DIA Barcelona is the first and largest global conference and community connecting insurance executives with fintech leaders.
Over 500 attendees of 200 companies from 36 countries came together in the amazing DIA Barcelona venue to spark ideas and move innovation in insurance forward. Read more

By: Roger Peverelli Posted on 22 April, 2016

ti&m security suite: it’s all about trust, innovation and convenience

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ti&m offers insurers a trusted, convenient and flexible solution for their mobile and web applications. The platform is based on open standards (oAuth, FIDO), hence easy to use, implement and integrate into whatever security infrastructure is in place. The cumbersome log-in process with m-Tan or, even worse, “code sheet“ or separate “code generating token” is replaced by a secure two factor authentication, either in combination with biometrics or with a standard FIDO token. Consumers can start their journey into their insurance application with a positive experience instead of losing time with complicated log-in processes and outdated technologies.
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By: Roger Peverelli Posted on 18 April, 2016

VIPR: Data management made easy

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You shouldn’t be concerned about errors in your data, you should be obsessed with eliminating them. It’s not just about automating manual processes and being a bit more efficient; it’s about improving profitability and avoiding damage to your reputation and preventing exposure to a hefty fine. VIPR offers IT solutions for the insurance industry that help businesses avoid falling into these situations. Read more

By: Roger Peverelli Posted on 18 April, 2016

FinanceFox: A 24/7 single point of contact for everything insurance related

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FinanceFox, the next-generation insurance app, is another successful start-up founded in Switzerland that is moving the insurance brokerage process online.  The app guides users through the insurance jungle with a customer-centric approach, using a combination of personal consultation and advanced technology. The ‘Free to Use’ solution offers a digital insurance folder where claims and invoices can be handled easily and paper-free. This service is combined with a single point of contact for all insurance matters. In case of an emergency the user is just a few clicks away from a personal consultant to get direct support via call or chat. Comparing rates and services with advanced algorithms is nothing new but the FinanceFox insurance experts go one step further. They detect savings and upon request, they offer personal advice and information on any insurance matter – completely free of charge, neutral, and easy to understand. Read more

By: Roger Peverelli Posted on 18 April, 2016

Keylane: Insurance and pension software that matters

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The insurance and pension industry is rapidly changing. Keylane provides SaaS-based software solutions that help insurers and pension institutions to succeed in their day-to-day operations and quickly adapt to market changes. Thinking digitally is part of Keylane’s DNA. Keylane’s state-of-the-art technology platform supports core processes such as policy administration, sales and distribution, and underwriting, and enables companies to excel in operational performance as well as customer service. Over 100 non-life, life and pension companies have gained measurable results from implementations of Keylane’s solutions, such as cost reduction, a shortened time to market and increased customer satisfaction.       Read more

By: Roger Peverelli Posted on 18 April, 2016

Withings: Leading of the connected health revolution by encouraging activity

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Withings leads the connected-health revolution by inventing beautiful, smart products and services that help people become happier and healthier. Founded in 2009, Withings is creating enjoyable, empowering experiences that easily fit into our daily lives. The company has built a range of award-winning products that synchronize with Apple or Android across the health spectrum including activity trackers (Withings Pulse and Activité), the Wifi scale and health station (Smart Body Analyzer), the Wireless Blood Pressure Monitor, the security camera with air quality sensors (Withings Home) and an advanced sleep system (Withings Aura). Every piece of collected data comes to life in the Withings ecosystem where users can find coaching, motivation and insights to shape key aspects of their health. Read more

By: Roger Peverelli Posted on 18 April, 2016