How to address the insurance workforce gap with technology? Insurtech Digest Issue #132 is out! Top 50 Influencer in insurtech and more
A new perspective on an old-established industry. Find latest report, news and information about startups and innovations in the insurance industry, with a focus on best #insurtech initiatives and venture capital investments.
How to address the urgent insurance workforce gap with technology
The insurance industry is experiencing a growing talent shortage. While this challenge has been anticipated, much of the discussion on solutions is often generalized to the entire workforce. But not every job will be impacted in the same way. As insurers grow, some functions will need more support, while others will be better primed to use cognitive technology, like AI, RPA and more. This means some jobs will be replaced by technology, other jobs will be enhanced by technology and other jobs will require more humans (an area where people can shift to, if their job is replaced).
The fact is that insurance operations are changing, and people are the center of that change. The question isn’t, “How do we address this workforce gap?” The question is, “How will claims, underwriting and sales be impacted by this workforce gap, and how can we leverage technology to address each one to improve our operations holistically?”
Accenture’s Darcy Dague discusses how cognitive technology, like AI, is critical to bridge the talent gap in the insurance industry.?Read more .
Must-read stories
?How embedded insurance is gaining momentum in the insurtech segment
Insurtechs are using technological breakthroughs like AI, IoT, big data, and APIs to offer fast and seamless insurance coverage to a large number of people through embedded insurance.?Read more .
Zurich Insurance Group (Zurich) has launched Zurich eXchange, a next-generation global API marketplace to enable more efficient collaboration.
"Insurance is an emotional relationship about an emotional product"
Wefox is reinventing insurance at scale. They enable people to be safe by making insurance 10x better for everyone. In this talk, Julian Teicke, Founder & CEO of wefox reveals exactly how they did it. This talk was held at the Insurtech Insights Europe in London.
Reports and Studies
Top 50 Global Thought Leaders and Influencers on InsurTech 2022
Here’s the Thinkers360 annual leaderboard for our top 50 global thought leaders and influencers on InsurTech for 2022.?Congratulations to all our thought leaders and experts who participated.
Post of the week
If there is one change that characterizes the transition from the traditional, closed, static?#financialservices ?set-up to?#openbanking ?and to the broader concept of?open?#finance , it?is the shift from product to added-value offerings with data in its core. Let’s take a look at Panagiotis Kriaris?post on Linkedin .
Investment and Startup Use Cases
领英推荐
Andreessen Horowitz just backed a startup that specializes in company director insurance.
Look at the 12-slide pitch deck Anzen used to raise $10 million. The US startup focuses on Directors and Officers insurance (D&O), a requirement of companies to cover their executives and management.?Read more .
?Glow Raises $22.5M in Funding
The company intends to use the funds to further develop its digital insurance platform, which automates the insurance process for small businesses, and expand into more states across the nation, serving small businesses across more vertical industries.
?Pet insurance startup Napo raises ￡15 million series A
Founded in 2021, Napo's insurtech platform offers pet owners policy quotes in minutes. Typically a ￡75 flat-fee is payable when an animal requires treatment; Napo claims the rest of the cost is usually covered, up to its ￡16,000 threshold.
Insurtech Digest Back Issues
Unleashing the Potential of Data in Insurance. Insurtech Digest Issue #131 is out ! Life Insurance Partnership, decentralized insurance and more
A huge embedded insurance opportunity? Insurtech Digest Issue #130 is out ! Amazon launch an insurance comparison site, Insurtech 100 2022 and more
Insurtech Digest Issue #129 is out ! So You Want To Build An Insurtech? Read These 4 Tips First. Nine customer types defining the next wave of insurance and more
Look at Letterhead archive. Read more .
LET'S SAVE THE PLANET FROM WASTE
Dear readers, today, in addition to the usual digest on the latest news from the insurtech and insurance sector, I would like to tell you something more about a personal project for the reduction of packaging waste that I am developing with 2 co-founder as a concrete give back action for the community and our planet.
>>>> Look at our video <<<<
The huge amount of waste deriving from disposable containers, especially in the food sector, and the materials with which these containers are made, often make their recycling impossible, progressively causing significant damage to our planet. In addition to the environmental impact deriving from the management and disposal of waste generated by disposable containers, it must be considered that this type of packaging produces a strong impact along its life cycle. The consumer model of "disposable" leads in fact to the waste of raw materials and energy necessary for its production; just think that a disposable container is used for an average of 60 minutes and is disposed of in 100 years. It also increases the impact deriving from the logistics and transport emissions necessary for the handling of disposable containers.
For this reason the Around project was born! I need your help to complete the donation crowfunding campaign that will give us the opportunity to reduct waste produced by first 100 canteens and restaurants.
Thanks in advance for your support! >>> DONATE HERE
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Have a nice day!
Alberto
The role of the human agent is not diminished by embedded insurance Alberto. Human agents, van and should add emotional value, especially on "standalone insurance" that requires that. The examples Julian made in his speech (what happens to my family if I die or am unable to work) are fitting the human agent, whereas other more transactional insurance which complements a different service or product (that can be enriched by this embedded insurance) can and should be embedded. Bank reps will perhaps not like this but even home insurance and CPI bundled with a mortgage should be embedded, sold with the mortgage, almost automatically, with standard characteristics and a fixed and fair commission.
A Social #Entrepreneur | Man of Excellence #Award Winner 2022 ??| #MSMEs #Consultant | #Insurance & #Reinsurance | #Financial #Portfolio #Management | #Succession Planner | #Insurtech Innovator | Low Code & Visionary..
2 年Thanks for your tag Alberto ???? I was always been curious to witness this change which I personally feel is critical & difficult since Insurance is a push product and we need human intervention to motivate and push the sales. It’s over 2 decades of Insurance industry is privatised in our country but industry is still struggling for double digit penetration even after distribution (human agents) sales procurement. My all eyes ?? on the subject matter experts like you to show us the path on the implementations of seamless online sales orientation process w/o human intervention. At least In India today, human agent convinces the client on their need emotionally then compare the other product benefits with competitors and then push him for closure which seems beyond any AI, iot, digital ECO-systems to circumference the runway of client before the completion of his buying journey! Yes, I agree that this digital transformation will reduce human effort & TAT to support majorly on after-sales for speedy resolution of client’s request specifically claims which in turn wins his trust & satisfaction. Carriers need to work backwards to gain clients trust this which will increase the penetration! Sincerely will appreciate your inputs, Mate
Responsable éditorial du média Digital & Assurance | ?? Un ?il sur toutes les dernières tendances Assurance, Innovation & Insurtech
2 年Thanks Alberto and congrats Napo Pet Insurance : the french touch strikes again in the UK insurtech ! ??