Covid-19 resetting digital priorities
This week's Insurtech World newsletter faces the challenges of digital acceleration when Capex budgets put on hold, projects must deliver short (very short!) time to value and the last thing you are allowed to do is major core system upgrades. Don't get despondent- practical solutions in these articles which don't take long to read
DLG reveals 70% drop in motor claims
"Direct Line Group (DLG) announced it has experienced a 70% decrease in motor claims notifications during April, with average severity expected to increase as repair duration lengthens and credit hire costs increase." Matt Scott Insurance Times... Read more
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COVID-19 claims farming, risk level: high
If it doesn't rain it pours! Kennedys IQ are tracking key COVID-19 references in Claims Portal data. We are already seeing coronavirus-referenced excuses for claims behaviours in RTA claims. Insurers should anticipate fraudulent claims and ensure... Read more
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Innovation, transformation and a Middle East view
How nuanced are the challenges facing insurers when it comes to innovation, transformation and competing against disruptive competitors. Reading commentaries. my own included, from all sources you might think they were similar everywhere. Frederik... Read more
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Disruption: Buckle up for the ride
Post pandemic, no return to normal and need for a new business, commercial, government and economic MO. Written two years ago this article points to the new models that government, business and commerce must plan and implement to cope with the new... Read more
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UK regulator to seek court ruling on business interruption insurance
UK regulators are to go to court in an effort to sort out the growing controversy over business interruption insurance. Many struggling businesses say that the terms of their policies provide cover for the disruption caused by the coronavirus... Read more
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The end of the office? Coronavirus may change work for ever
“I spend around ￡35m on property in a year,” he said. “I’d much rather invest that in people than expensive offices.” Sir Martin Sorrell Work-from-home (WFH) is proving an effective and efficient working model. 360Globalnet's digital claims... Read more
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Microsoft growth accelerates as pandemic boosts cloud business
Growth mirrored by 360Globalnet with its digital claims management platform 360Siteview. Digital acceleration is a key need and those vendors that have credible cloud-native solutions that deliver value fast without straining cash flow are in a... Read more
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Markel confirms Olympics and Wimbledon exposure as it reveals $325m coronavirus hit
Dramatic reminder of the need to shore up reserves. Business and event interruption claims will lead to both payouts and increased claims. Technology providers which rely on high Capex, implementation and deployment costs are in for a shock.... Read more
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If it doesn't rain it pours!
Just when auto insurers return a portion of premiums as result vehicles staying on drives and fewer trips data shows an increase in road traffic accidents and severity of claims. Time to think this through! Read more
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Chancellor unveils ￡1.25bn startup package – but will it be enough to uphold insurtechs?
There are full stack insurtechs which must survive and grow through these turbulent Covid-19 impacted times. The other side of equation are the Digital Insurance Technology Platforms that can digitally accelerate incumbent carriers, reinsurers,... Read more
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