FIVE SMART TIPS FOR SUCCESSFUL INSURTECH PARTNERSHIPS

JOHN CUSANO | October 11, 2018

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The growing influence of scores of new insurtech firms, eager to disrupt the traditional insurance industry, has alerted many insurers to the huge potential of data monetization. Plenty of these start-ups are keen to work with insurance companies to help them use their data resources to improve efficiency or create new sources of revenue. By collaborating with innovative insurtech companies, conventional insurers can capitalize quickly on a wide range of data monetization opportunities. However, such alliances, as I mentioned in my previous blog post, are not always easy. They often require carriers to change their operating models substantially. Managing such change needs a careful balance between allocating skills and resources in new business opportunities and ensuring the development of legacy systems and processes.

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NFP

NFP is a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates. Our expertise is matched by our commitment to each client's goals and is enhanced by our investments in innovative technologies in the insurance brokerage and consulting space. NFP has more than 4,700 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients' needs. We've become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.

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NFP is a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates. Our expertise is matched by our commitment to each client's goals and is enhanced by our investments in innovative technologies in the insurance brokerage and consulting space. NFP has more than 4,700 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients' needs. We've become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.

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