5 Emerging Trends for Insurance in 2020

STEVE LIPINSKI | November 14, 2019

article image
When it comes to implementing new technology, the insurance industry is rarely considered an early adopter. However, insurance companies have been taking early strides, somewhat in a migratory manner, to adapt to technology advances to help better run operations, improve underwriting and risk management, enhance customer offerings and services and profitably grow the business. Taking into account this early progress, we look to 2020 and several trends in the industry that have begun to take shape and will accelerate this coming year:

Spotlight

TPL Insurance

TPL Insurance is Pakistan’s first direct insurance company with the aim to provide seamless insurance services to its customers through its 24 / 7 call center and integrated insurance systems. TPL Insurance has launched Pakistan’s first insurance customer app with distinguished features of policy issuance, claim lodging, self-surveys, endorsements and renewal of policies with further features and products to be included in the app soon.

OTHER ARTICLES

6 insurtech predictions for the 2020s

Article | February 21, 2020

The insurtech movement has been underway for the better part of a decade. Now that we have entered the 2020s, it might be worth exploring what could be on the horizon for insurtech over the next ten years. Insurtech has evolved from its origins in the early part of the last decade (as an offshoot of the FinTech movement) and quickly gained momentum over the last few years to experience a strong close in 2019.

Read More

The role of AI in enhancing claims experience for Insurance customers

Article | February 21, 2020

Insurance customers are most vulnerable when they file a claim. Be it life or general insurance, claims are filed in distress. This is also a critical moment for Insurers. The claims experience they deliver determines customer loyalty, which also influences referral customers in the long run. In the Insurance industry, where products and pricing among the competitors are almost the same, customer experience becomes the main differentiator.

Read More

Will COVID-19 Disrupt Insurtech?

Article | February 21, 2020

If there is one thing that we have all learned with the spread of COVID-19, it is that there is virtually no industry that is immune to its impact. The global pandemic is disrupting the daily lives of individuals, the operations of businesses, the activities of governments and even the approach of cherished institutions like museums, universities and religious organizations. The P&C insurance industry, like many others, is reeling from the implications of the virus. Amid the rapid changes, it is important to assess the impact of COVID-19 on the insurtech movement. After all, insurtech has always been touted as the ultimate disruptor of the insurance industry. But, might COVID-19 prove to be a disruptor to insurtech?

Read More

Why Germany Is Becoming a Global Hotspot for InsurTech Firms

Article | February 21, 2020

For the uninitiated, insurance technology, or InsurTech, is the system of tools and technological innovations that are used to drive improved efficiency compared to older insurance industry models. In 2019, Germany had already begun to position itself as the de-facto hub for InsurTech firms, largely due to the uniquely collaborative nature of InsurTech startups in the country, in combination with extreme interest from international investment firms, which recognize the disruptive potential of many nascent German InsurTechs.

Read More

Spotlight

TPL Insurance

TPL Insurance is Pakistan’s first direct insurance company with the aim to provide seamless insurance services to its customers through its 24 / 7 call center and integrated insurance systems. TPL Insurance has launched Pakistan’s first insurance customer app with distinguished features of policy issuance, claim lodging, self-surveys, endorsements and renewal of policies with further features and products to be included in the app soon.

Events