Insur. weekly 472 ?? The hype cycle in insurance innovation

First of all, I'm glad this is the 9th anniversary of that weekly newsletter ??????

Thank you all for your support over the years, I really appreciate it !

If you enjoy that content, please take a moment to tag a colleague in the comments below, or just say 'hi'.

This week, I shared my three key takeaways from FTpartners' quarterly review on global investment trends in the InsurTech space. The insights underscore that innovation in the insurance industry is far from over, suggesting the market should broaden its perspective. (read more)

And Klarna showcased the significant impact AI can have in Financial Services by revealing how much its team has downsized thanks to AI solutions. (read more)

Below, you'll find the three most engaging articles from this week. They are about insurance & risks innovation, FinTech comparables and tech trends worth a look.

InsurTech weekly

1?? The state of InsurTech based on CBinsights' yearly overview

The Insurtech 50 is CB Insights’ annual list of the 50 most promising private insurtech companies in the world. This year’s winners are working on everything from AI assistants to embedded insurance.

>> Read more

& I highlighted in that map what has peaked and what might be the next big thing in insurance innovation. (explore further)

2?? Can FinTech successes in emerging markets be replicated?

Incumbents still dominate the consumer banking market and their service is much better than the Brazilian default. The U.S. regulatory landscape is 100x more complex than Brazil but there's a gallery of potential giant digital banks. Cash App, Venmo, SoFi, Robinhood, Chime, Current, heck even Zelle? All of these things could build something that looks and feels like a Nubank. I think there's an opportunity for something else. A money hub. A financial control center. And the key isn't being good at PFM. It's a disruptive business model with the ability to move money without friction.

>> Read more

3?? The benefits of synthetic data in an AI environment

While data, and especially, “big data”, was perceived as “the new oil” by Clive Humby in early 2000’s, recent developments in AI, “the new electricity”, have helped to unlock value out of it. According to PwC, this could create an additional $16tn of global GDP by 2030. Real-world data is always the best source of insights and used as a fuel for AI. However, it is in fact often expensive, imbalanced, unavailable or unusable due to privacy and regulation.

>> Read more

My podcast (in French ????)

I read a McKinsey article featuring a discussion among their partners about the potential impacts of AI in insurance. The conversation offers a balanced perspective, highlighting that AI's influence extends beyond technology and touches on broader industry requirements.

>> Listen to it on Podcast platforms or on Youtube.

Listen to previous episodes:

?? From telematics to connected insurance

?? InsurTech-as-a-Service: tackling the innovator's dilemma

?? Technology serving insurance brokers

?? Open Insurance, Open Banking: same but different?

?? Archives of?InsurTech?Weekly