How InsurTech is reshaping insurance

| June 15, 2016

article image
Insurance companies are very much aware of the FinTech revolution: 74% of respondents see FinTech innovations as a challenge for their industry. There is a good reason to believe that insurance is indeed heading down the path of disruptive innovation, whether it is the effect of an external factor, such as the rise of the sharing economy, or the ability to improve operations using artificial intelligence (AI). However, despite these emerging trends, a disconnect exists between the amount of disruption perceived and insurers’ willingness to invest to defend against and/or take advantage of the innovation: 43% of the industry players claim they have FinTech at the heart of their corporate strategies, but only 28% explore partnerships with FinTech companies and even less than 14% actively participate in ventures and/or incubator programs.

Spotlight

Gow-Gates Insurance Brokers

Gow-Gates is one of the largest Australian owned Insurance Brokers and Financial Service Providers. As a family business established over 50 years ago, Gow-Gates has grown to become a leading insurance broker in Australia specialising in an array of industry sectors. Our core strengths are our quality advice, exceptional service and integrity in the local and international insurance markets.

OTHER ARTICLES

The economy is slowing down: what does it mean for insurance companies?

Article | April 21, 2020

Since 2010, as countries waded out of the recession of 2008, they enjoyed economic growth. Coupled with technological innovation, the global economy really got a boost. But, mirroring Nature’s cycles, it seems it is now time to hit a plateau and slow down. In this article, we explore why the slowdown could be happening and more importantly, what it means for us in the insurance industry.

Read More

Automation for the Future of Insurance: Enabling the Ecosystem

Article | February 17, 2020

During InsurTech Connect 2019, the world’s largest gathering for the insurance industry, I had the opportunity to meet and talk about the future of insurance with executives, thought leaders, analysts, consultants, and tech providers. In an interesting discussion with Seth Rachlin, chief innovation officer of Insurance at Capgemini, he discussed three trends that he envisions driving the “future of insurance.”

Read More

Does Your Business Interruption Insurance Cover COVID-19-Related Losses? Are You Sure?

Article | April 8, 2020

The COVID-19 coronavirus emergency has everyone scared, and many are imagining the worst. For business owners and managers, there is a fear that what you, your employees, and your customers or clients have built will be lost – through no fault of your own. And we don’t know how long the financial impact of the pandemic will continue.

Read More

Spring Cleaning Your Business Insurance

Article | March 25, 2020

Spring cleaning can be more than clearing out some clutter in your home. There are numerous ways you can sort through and organize different aspects of your life. A commonly overlooked area of spring cleaning is your business insurance policies. It’s important to reevaluate your insurance coverage periodically. Things can change, and before you know it, your small business can change. Take some time to spring clean your business to help ensure future success.

Read More

Spotlight

Gow-Gates Insurance Brokers

Gow-Gates is one of the largest Australian owned Insurance Brokers and Financial Service Providers. As a family business established over 50 years ago, Gow-Gates has grown to become a leading insurance broker in Australia specialising in an array of industry sectors. Our core strengths are our quality advice, exceptional service and integrity in the local and international insurance markets.

Events