THE FUTURE OF REAL ESTATE

whitePaper | March 2, 2020

Decades ago, a group of merchants created a concept of general average—which is when all parties in a maritime venture share in losses resulting from a sacrifice of cargo in an emergency. What this group fashioned in 1890 was a method for merchants to insure their shipped goods. Upon landing, merchants whose cargo landed safely were expected to contribute a portion to merchants whose goods had been lost at sea. With this, an early form of insurance was born.

whitePaper | November 14, 2022

We all know buying insurance is hardly a gratifying experience, especially when there are several policy options available in the market. Widespread digital innovation has made it convenient for consumers to connect with an infinite number of insurers, in different ways. This is wonderful, but it also means the selection and buying process has been extended and is getting overly complicated. A DIY approach of selling insurance through agents or just relying on website sales results only in spaghetti integrations. Insurers are working collaboratively with an ecosystem of partners to cater to underserved markets, gain access to new customer segments, and increase brand recognition as well as cross-selling opportunities while building a foundation for customer lifetime value.

whitePaper | March 14, 2022

If you want to see the influence that insurtechs are having on how insurance will be sold in the future, look no further than Lloyd’s of London, which has been about as technologically behind as an institution can be. Brit Ltd. announced in May 2020 that, in collaboration with Google, it has created Ki, a new syndicate that will be part of Lloyd’s, that “will aim to significantly reduce the amount of time and effort taken for [commercial] brokers to place their [excess] capacity, creating greater efficiency, responsiveness, and competitiveness.” The Ki platform, which will launch in 2021, will be cloud-based, able to be accessed by brokers directly, and involve algorithms able to evaluate Lloyd’s policies.

whitePaper | May 25, 2022

As a heavily regulated, intensively bureaucratic sector – a business founded on caution – insurance has always been slow to adapt. But a confluence of historic challenges is forcing the industry to undergo arguably the most radical change in its history. Fundamentally, insurance is a hedge against risk. Over the coming years, it will become a proactive exercise in preventing risk, moving from protection to prevention.

whitePaper | December 19, 2022

Customers are now accustomed to digital-first interactions, with Gen-X in particular expecting a frictionless experience. As a result, brokers are having to rethink how they engage with customers in order to meet these expectations. Increasing competition from a fast-changing industry – through consolidation and new independent digital-only providers – means they must improve customer satisfaction to stay in the game. Ultimately, broker business success relies on engendering long-term relationships with customers (and partners) based on trust.

whitePaper | June 30, 2022

The turmoil caused by pandemics and politics in the past two years has created an increasingly litigious landscape and served to highlight the value and benefi t of legal expenses to businesses, says Tim Evershed.