The Next wave of small-business insurance is unfolding – will Next be GEICO-like disruption?

Small-business customers are important drivers of economic health, but stay vulnerable to future shocks and are routinely hardest hit. Insurers carry the mantle to provide these businesses the resilience and stability to address volatility with greater confidence. Per American Bankruptcy Institute, 255000 businesses filed for bankruptcy protection in 2020, till May. The number of Chapter […]

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Customer Mindshare Will Be Won By Embedded, Frictionless CX

In most sectors, companies will concur that there aren’t many options of differentiation that are as sustainable as customer experience is. Customer experience (CX) is the indelible impression any brand creates with customers across touchpoints along the customer journey. Prioritizing for the customer can be good for business. Insurers that prioritized CX generated 2-4 times […]

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SPACs, NFTs and Clubhouse: Blips on the Q1 radar

We are already racing to close the first 2021 quarter. Take a moment to pause and review trends making most news or surprising us with their novelty, you cannot miss the SPAC activity, NFT market upswing and growing interest in Clubhouse. SPACs love disruption being themselves a disruption in current times. Like many industries being […]

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The Changes Underway in the Flood Insurance Market

Flooding is the number-one natural peril in certain advanced markets, superseding wildfire and storm. Millions of properties are at substantial risk – and frequency and severity of floods on the rise. Still, gap in flood insurance is inordinately high, with <5% of exposed single-family homeowners in US having coverage. Globally since 1980, flooding accounted for […]

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Fleet Footed Giants Trailblaze Ecosystem Paths

From $250 billion in 2020, a study found total value of premiums produced by insurtech will cross $556 billion in 2025. The Juniper Research study forecasts that shifting customer loyalty, premium reductions from increased competition and sweeping digitalization will cause carriers in motor, life, home and health insurance to lose sheen with potential customers.  Juniper […]

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Is Pricing Innovation In Insurance A Zero Sum Game?

Pricing is no longer the cost-plus game in insurance it used to be. Insurers wrestle with demands of better and more agile pricing to stay competitive amid technology fueled market dynamics. Price-comparison websites have empowered consumers to compare products and decide best choices for their unique needs. Consumers are also more amenable to novel propositions […]

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The Internet Of (Insured) Things Part 3: Commercial Lines

Commercial insurance plays a crucial role in global economies. It shields businesses from failure by assuming risks in production of goods and services. In USA alone, there are over seven million small businesses, ranging from construction firms to grocery stores to home-based businesses. Without right coverages, each could be devastated by disasters or lawsuits. In […]

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The Internet Of (Insured) Things Part 2: Connected Homes

Savvy consumers are cozying up to “Internet of Things”, welcoming smart doorbells, access controls and monitors that report incidents. These devices autonomously control parameters, bolster security and delight through optimizing home entertainment. Insurance carriers’ prognosis is that such gadgets can unlock pent-up policyholder satisfaction while simultaneously lowering risk. Market research characterizes the global smart home […]

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The Internet of (Insured) Things Part 1: Nascent But Potent

2020 brought about an inflection point in smart devices. The count of active IoT connections (e.g. connected cars, smart home devices, connected industrial equipment) overtook non-IoT connections (e.g. smartphones, laptops). From 21.7 billion active connected devices globally, estimates peg IoT-based at 54%. At current growth, 30+ billion IoT connections are expected as soon as 2025. […]

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Insurtech Partnerships On A Roll, While Funding Sees Sunniest Year

Globally last year, insurtech investment continued to grow amid an unprecedented business environment. Total funding across private investment deals reached an all-time high of US$7.1 billion with 377 deals – the highest in any year to date. Compared with 2019, annual funding rose by 12% while deal volume by 20%. The last quarter ended with […]

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