The Annual Conference Series: Strategic and reputational challenges for Insurance and Long-Term Savings in 2022

Constraints cause creativity. Covid created the need to handle property claims remotely. The technology and uses of devices to assess damage and settle claims has proliferated in the last 24 months. To support the launch of the InsTech London report, “Remote Claims Assessment - the 40 companies to watch”, Matthew Grant hosted a Live Chat to discuss the findings in our report. We spoke to the creators and users of these solutions, examine what is happening in this area, discuss the opportunities emerging from new technologies and the future themes in remote claims assessment.

Ask a final year undergraduate what they plan on doing after university, and they will likely say one of a handful of options. Some won’t know yet, some will opt to continue their studies, and a good number will have found themselves in an investment banking graduate scheme. The success of banking graduate schemes prompts the question: Why does insurance lag behind banking in acquiring talented graduates? Insurance has a reputation for being a second career for those in financial services and consulting, but what if the industry could bring in graduates at the very start of their career?

A reliable replacement cost estimate based on actual claims data can help you maintain insurance-to-value (ITV) in the competitive commercial lines marketplace. Discover how Verisk has combined data and analytics from ProMetrix to deliver up to a 75 percent hit rate in 360Value, giving you the power to substantially enhance the accuracy of your underwriting for more properties in your portfolio. Get the full picture for commercial property with Verisk’s trusted reconstruction cost estimates, now paired with even more robust data from ProMetrix. Understanding the full scope of your exposure can help you streamline underwriting and protect your customers.

Telematics is growing, but overall participation remains modest: about a third of P/C carriers have telematics capabilities live or in pilot, and about a third of their policyholders participate in those programs. At the same time, vendors and carriers are beginning to move beyond traditional UBI programs to target services that are enabled or closely aligned with telematics, especially around claims.