The Digital Insurer Roundup #9

Welcome to The Digital Insurer Roundup #9 - and welcome to a new year! Our aim is to inform, entertain, and be a useful input as you explore the world of digital insurance. It's split by sections so you can easily dip in and out and get what you need.

Highlights for this month

• Special news: TDI Connect app is now out of beta and live to all TDI members. Major upgrade with new interface and Single Sign On to improve convenience and usability :)
• In news and views: ChatGPT, predictions for 2023, monthly podcast on digital insurance in Asia, Chubb sponsors new video podcast series 'Insurance as the New Possible', InsurTech analysis this month is a three-way analysis on digital health initiatives in China.
• The World's Digital Insurance Awards: Congratulations to our global winners - bolttech for Global Insurtech Award and AIA as a double winner for Global Insurance Innovation Award as well as our new Global Transformation Award. Planning for 2023 is well under way!
• Dynamic InsurTech Map of the month: Germany
• Other TDI updates: MarTech is our theme of the month - watch out for the webinar on this topic (date coming soon).
• Start 2023 with a digital insurance resolution: Make learning on Digital insurance part of you personal and company development goals for 2023. Contact us for the many options we have at TDI Academy.

?? ① News & Views

• TDI Connect goes live to all members: See the image below for details on what is new and we will be sending separate comms to all existing members - it is a major upgrade making access easier and more convenient as well as a completely new site for regular members to get info and get connected. If you would like to join then use the link and join thousands of others who are interested in digital insurance - sign up here for free or existing members login here . If you are looking to partner with TDI Connect to get your message out then do get in touch - we have a host of options available.

• Top Tech for 2023? It feels like ChatGPT could be a breakthrough tech that takes human orientated search to the next level - students are using it already for essay writing and primary research. For example these are ChatGPT's AI-generated top 5 predictions for digital insurance in 2023 (verbatim):

1. Increased adoption of telematics and other technologies for underwriting and risk assessment: Insurers will continue to leverage technologies such as telematics, which uses sensors and other data sources to track driving habits and behaviors, to more accurately assess risk and price policies. This will enable insurers to offer more personalized and targeted coverage options to consumers.
2. Greater use of artificial intelligence and machine learning in claims processing: Insurers will increasingly adopt artificial intelligence and machine learning to automate and streamline claims processing, improving efficiency and reducing the time it takes to resolve claims.
3. Expansion of insurtech partnerships and collaborations: Insurers will continue to forge partnerships and collaborations with insurtech firms to access new technologies and business models that can help them better serve their customers.
4. Growth of digital distribution channels: Insurers will continue to shift towards digital distribution channels, such as online marketplaces and mobile apps, to reach and engage with consumers. These channels will become increasingly important for insurers looking to compete in the digital insurance space.
5. Increased focus on customer experience and engagement: Insurers will place greater emphasis on improving the customer experience and engagement, using data and analytics to better understand and meet the needs of their customers. This will include the use of personalized and interactive digital tools and resources to help customers make informed decisions about their insurance coverage.

China in Focus: In this edition of China in Focus , in partnership with iptiQ by Swiss Re, we ask what are the main digital trends driving global, and in particular Chinese, digital life & health insurance innovation?

It has been ten-years since the influential Life Insurance in Asia: Sustaining Growth in the Next Decade was published. In it, the authors laid out their vision for what would shape the life & health insurance industry over the coming decade. A lot has changed since 2012, and we look back on the book's predictions as a way to shape our view on the direction of the Chinese insurance industry, which we can now see is in a transitional phase due to the twin forces of increased regulatory scrutiny and the isolation wrought by Covid restrictions.

Our in-depth article looks back on Life Insurance in Asia: Sustaining Growth in the Next Decade?and?considers the future of life & health insurance in China in light of:

• The proliferation of mobile devices and big data that opens up new distribution channels
• Mass market growth being replaced by product development for market segments
• Chinese consumers that increasingly view life insurance as a protection tool as opposed to a savings tool

In our second article we look more widely at macro global trends across society that are shaping the way consumers interact with healthcare and health insurance. It is now clear that the pandemic has transformed society both at home and in the workplace. As we find, though the long term implications have yet to be assessed, the pandemic has had an influence on the mindset of society that is perhaps greater than at any time since the industrial revolution.

• DIA for this month - for our latest China in Focus edition we also did a comparative analysis of PingAn Good Doctor vs JD Health vs Alibaba Health. Full analysis is here

• AIP TDI monthly podcast: Listen to our latest monthly podcast on digital insurance in Asia. Hosted by Michael Waitze from AIP, with TDI's Theresa Blissing. Listen here
• Other Podcasts: We were pleased to be involved in the launch edition of a new video podcast series called 'Insurance for the New Possible' that is supported by Chubb and produced by Undercover Media. I enjoyed the discussion with Sean Ringsted on the rise of ecosystems, embedded insurance and more. Full version is here

• Report of the month: This month's featured report is Deloitte's 2023 insurance outlook . Particularly liked the focus on people and culture

• TDI Talks! Two TDI Talks this month from Simon Phipps, Founder, TDI. In the first he talks with? Bob Crozier , Head of Blockchain, Allianz on latest developments in DLT, the FTX collapse, and B3i failure - watch it here . In the second he speaks with Marc Guy Victor Sordoni , CEO, Unipol Re, on telematics, IOT, and connected re/insurance - watch it here .

????Want to help shape and inform our editorial coverage? Contact TDI's Editor -?Martin Kornacki

?? ② Events & Awards

The World’s Digital Insurance Awards 2022?- Updates

?? Congrats to all of the winners as well as participants in this years Digital Insurance Awards. With more than 150 entries across all categories there has been an incredible sharing of knowledge and success. If you come across digital sceptics in insurance send them to the awards site to review all the award entries here . Alternatively select from more than 30 finalists videos here .

?? There could only be three global winners, and as it turned out members voted AIA for two of the awards. The winners presentation can be found on this links : Global InsurTech Innovation Winner - bolttech , Insurance Innovation Award Winner - AIA , Global Digital Transformation Award Winner - AIA

Now available on-demand (from events in the last two months):

• Embedded Insurance - exploring the opportunities : We were sure this was going to be a lively and enlightening webinar, given the speakers we had lined up, and it didn’t disappoint! We heard from Nigel Walsh (Managing Director, Insurance at Google), Simon Torrance (Embedded Finance & Super App Strategies), Sascha Türck (Chief Distribution Officer P&C, iptiQ EMEA) and John Du (Head iptiQ China P&C), and you can view a recording of the event and access the slides on the event page .

Coming up live (virtual unless indicated):

• Info webinar on TDI Academy's ADI programme : Scheduled for 23rd January 2023 and designed to allow individuals and companies to find our more about our flagship programme in digital insurance.
• Webinar on our theme of the month: MarTech - date and link to be made available soon.

?? ③ Newswire x5

TDI Newswire ?curates links in digital insurance from multiple sources around the world, and we publish ten news items on the site each day. Here are the Top 5 for December that caught our attention:

1. Chubb launches new tech hub in Greece : joins existing centres in India, Mexico and US.
2. RSA to implement new low-carbon underwriting policy from 2023 : RSA's goal of creating by 2030, an underwriting portfolio for energy production that is over 75% low carbon is worth a cheer. Continued technology advances should help one would think.
3. CerebrumX partners with Ford to use real-time data for usage-based insurance : Another key partnership pointing to how tightly data, and insurance, will be to car manufacturers going forward.
4. Income expands to Japan by white-labeling SNACK : Partnership with ReMark to bring its digital micro insurance platform HIVE to Japan.
5. InsurTech Igloo raises $27m in Series B extension : VC led round for this Singapore based insurance platform.

Check out the complete?December TDI Newswire . The Newswire is 100% attributable and linked to source journalists and publications, who provide excellent coverage on digital insurance.

?? ④ Dynamic InsurTech Map of the Month - Germany

Our map of the month this month is Germany .

Remember our maps are dynamic - you can click through on each logo once the map is open. Click?on the image below for the full experience.

?? ⑤ TDI Updates

@TDI Connect

• TDI Connect ?is a global community for digital insurance enthusiasts. It's open to all and there is no cost to join - and all housed within a single app for convenience and connectivity
• New app , which also has a desktop version, allows Single Sign on across all TDI digital assets
• New interface (see image) more intuitive and makes it easy to access info and connect with others
• For the next two months we have the following topics planned: MarTech, and Digital Skills & Engagement
• To login or sign up to TDI Connect (for free) use this link
• Once signed up or logged in join one of our country or specialist communities
• Checkout the TDI Members Guide to find out how to take full advantage of your TDI membership

????Head of TDI Connect:?Theresa Blissing

@TDI Academy

• We are excited to share a special 2-for-1 offer for TDI Academy Programmes as part of TDI’s 10 year anniversary! With this offer, we have made it really affordable for insurers to launch learning & development programmes that can achieve two objectives in parallel: i) allowing everyone in the company to be engaged in lifelong learning on digital insurance with our TDI PRIME Programme and ii) allow for a more focused in-house Digital Leaders Programme (EDI) supported by external insights from TDI. Find out more about the offer here.

• We’re kicking off our next cohort of our ‘mini-MBA’ programme in digital insurance on 8th March 2023. If you’re looking to upskill your team or boost your career in the coming year, you might want to consider the ADI Programme . The ADI (Associate Digital Insurer) programme is our flagship programme in digital insurance for learners who want to accelerate their knowledge and take part in a group learning experience. Check out this video from one of our ADI alumni. To get more information about this programme and to get a feel of what it really is, join us on 26 January 2023 for the free ADI information webinar. Register here or contact [email protected] for more details on how to enrol.?
• We have partnered with ITC Asia to bring a new and unique in-person learning experience to the ITC Asia Conference in Singapore in May-2023 . We will be holding a two hour Masterclass in Digital Insurance on 30th May and is targeted at insurers and individuals wanting to learn new skills and perspectives on how technology is impacting the future of insurance. Facilitated by TDI’s Founders, Hugh Terry and Simon Phipps, the experience includes a workshop, access to on-demand learning and some in-conference learning and enables attendees to earn an ITC Asia Masterclass Certificate.? We have special corporate rates available for those looking to purchase 3-5 tickets which include tickets to the main conference. Find out more here.

?????Head of TDI Academy:?Malini Nagaria

@TDI Tech

1. As already mentioned the 2022 edition of The World’s Digital Insurance Awards has concluded with a hotly contested Global Finals event, where bolttech emerged winners for 2022. We’ve created the infographic below to help give a sense of the scope of InsurTech entries from around the World

• The?TDI InsurTech Directory ?is a free to use database that allows you to find out more about 4,000+ InsurTechs. InsurTechs present their propositions in fun and convenient interactive 'digital booths'
• ITD covers a wide range of InsurTechs all around the world, and although we cover more than 4,000 listings already, we are always looking to expand our coverage to bring you the most comprehensive, freely available database of InsurTechs to help you discover great solutions to assist with your digital transformation
• At TDI we aim to bring together insurers on their transformation journey and great Tech companies.?One of the ways we do this is through accelerating technology partner visibility and connectivity, and we have a range of options to suit every stage of development. Technology partners have the option to select just one membership tier or, as is most often the case, join through a combination of the tiers
• Did you know that TDI’s InsurTech Directory gives you direct access to thousands of InsurTechs all in one place and especially our Premium Member booths offer you a rich and engaging way to learn about them

?????Head of TDI Tech:?Andrew De Kock

How to get the most out of TDI

We love working with other people and companies that are interested in digital transformation of the insurance industry. Some ways to get involved:

• Sign up as a member to the main platform?here
• Join TDI Connect ?- our platform and app for knowledge and connections on all things digital insurance
• Volunteer - to share your experience and insights, become a?Community Contributor ?and/or an?InsurTech Analyst
• Try out TDI Academy ?- either personally, or for your company to accelerate its digital culture, as well as provide new skills and insights
• Can we help you to achieve some of your corporate objectives? Want to build awareness of your corporate activity? Get in touch with any of the team directly or?here ?to see how we can help
• TDI Roundup Archives - want to read some back issues? Available?here .

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