Insurtech World Newsletter July 15

Pet insurance the poor cousin when it comes to digital claims? Customers who rely in digital engagement during the pandemic and demanding the same from insurers. Insurers standing in the world explored in articles by Nigel Walsh, Andy Lees and Payal Vasudeva. Plus updates on GDPR- loads of actionable insights again.

Nigel Walsh, Andy Lees - The Great Insurance Bake-off: Cooking up a Customer Storm in the Cloud

We clapped enthusiastically for carers during the height of the pandemic. But how many of us would clap for our insurers? The outpouring of appreciation for NHS staff, carers and key workers was precisely because of the excellent, invaluable and... Read more

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Andy Lees, Payal Vasudeva - Together Alone: The Insurance Workplace of the Future

Sometimes, it’s a case of physician, heal thyself. The insurance industry has stepped up during the COVID-19 pandemic, showing remarkable business agility as it re-calibrates its approach to risk and protection for the benefit of customers and... Read more

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Mike Daly - Pets, vets and insurance claims

"A growing number of pet owners are insuring their animals, paying a steady monthly premium for peace of mind. Claims have nearly doubled in the past six years, from ￡452m in 2012 to ￡815m in 2019, with the average claim totalling ￡793, according... Read more

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Mike Daly - Lessons for brokers and insurers unwinding from lockdown Paul Stanley – 360Globalnet

Full digital claims experiences remain a luxury in the world’s insurance market but the challenge will come when consumers who have learned to count even more on digital experiences recently begin to edit their choices of insurer accordingly. Paul... Read more

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Charles MacRae - AI and the GDPR - two key reports published

“Data protection is at the forefront of the relationship between AI and the law,” as noted in the introduction to a study on the impact of the General Data Protection Regulation (“GDPR”) on artificial intelligence (“AI”), commissioned by the... Read more

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Mike Daly - Things used to be so simple

In the book Sapiens, Yuval Noah Harari says: "Once people get used to a certain luxury, they take it for granted. Then they begin to count on it. Finally they reach a point where they can’t live without it." Innovation drives expectation and... Read more

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Mike Daly - Insurance experts put premium on start-ups reaching the big time

Investors have backed ‘insurtechs’ such as Lemonade but will consumers do the same? The answer may well rest with incumbent insurers; or those that decide to anticipate potential disrupters and disrupt other insurers themselves. “I just don’t see... Read more

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