Now, there’s a movement in the insurance industry to leverage new forms of surveillance to assess risk during the underwriting process of life insurance policies (the process of assessing a potential customer’s risk).
Life Insurance Industry Trends Insurtech Survey 2019
Epigenetics is poised to improve the underwriting process, moving beyond deep venous puncture blood collection and a lengthy approval process that takes months to complete.
‘Insurtech’: our inboxes are full of news alerts, and hardly a day passes without a notable insurer or reinsurer somewhere commencing a digital initiative, applying artificial intelligence, partnering with a hi-tech high-flyer or investing in a digital/data/analytics start-up. Insurtech is big these days.
Top industry analysts discuss hot technology issues such as blockchain, insurtech, cybersecurity and more. These present both challenges and opportunities.
In just one year, almost $3 billion were invested in InsurTech — in de novo technology and in the brains driving it. RGA's Farron Blanc delves into the causes and consequences of past, present and and pending technology revolutions.
After three visits to Silicon Valley in three months I’ve come to the conclusion that InsurTech for the U.S. life insurance market has arrived. And the Genie isn’t going back into the bottle. U.S. InsurTech financing hit $1.377 billion in 2015, with the global figure about double that (CB Insights). No slowdown occurred in 2016.
Article begins on page 4.
The primary characteristic I like about so many of the insurtech entrepreneurs that I meet with is that many of them know very little about insurance. While it may sound counterintuitive, that is a good place to start, and offers a refreshing take on an industry that can be stuck in its ways.
Better addressing the evolving needs of consumers can help incumbents win their loyalty—and protect against new competitors.
This is part two of research by guest author Amy Radin on the Life Insurance business. In Part 1 last week, Amy outlined the fundamental business issues behind the decline in Life Insurance and the white space opportunities this opens up for entrepreneurs. In today’s research note, Amy looks at 8 startups aiming at the white spaces.