As the insuretech space fills up, a new entrant is joining the fight. Y Combinator -backed Goodcover is launching today to take on the likes of big insurance, as well as insurance startups like Lemonade, Jetty, Hippo and Zebra. The company offers renters insurance in California. The twist? Goodcover returns unclaimed premiums to policy holders at the end […]
The hype around data in insurance is well-justified – in fact, what industry is more data-driven in its decision making? Most insurers have reams of data but face significant challenges trying to operationalize it. As such, they have big decisions to make about how best to move forward. Given the volume and value of legacy […]
A key focus of the Open Banking initiative is the use of technology to put consumers in control of their data, making it easier for them to move, manage, and make more of their money. In the insurance sector it is easy to draw many parallels. Like banks, many traditional insurers have extensive legacy systems, […]
RESEARCH REPORT In brief As insurance companies face increasing pressure to go digital, insurtech offers great opportunities. How insurance startups and incumbent insurers can bring out the best in one another. Key takeaways for insurtechs and incumbents to make the most of partnerships. REGISTER TO VIEW FULL REPORT Insurers are facing increasing pressure to evolve […]
A new venture capital group, Brewer Lane Ventures, has launched with a strong insurtech pedigree. Founder and managing partner John Kim is known for launching New York Life Ventures in 2012, one of the first carrier-side venture arms. He is joined by Martha Notaras, who has been a partner in XL Innovate since its inception […]
Insurance companies are leveraging the benefits of the fintech revolution in insurance to address pain points in providing better, secured, and personalized customer services. Ever since the insurance sector has come into existence, people are insuring everything from gadgets to their health and lives. The increase in the range of products and services to insure […]
As every interaction becomes a transaction, Open Insurance or API (B2B2C) insurance is being labelled to bank in on this trend. Although that sounds amazing, the term still lacks a good definition to provide meaningful guidance for insurance companies. To get more clarity INNOPAY has defined 7 Open Insurance roles for the industry. Insurers should […]
Below is a snippet from the article, which is quite involved and worth a careful read. The full article is at https://www.finextra.com/blogposting/18255/transforming-the-insurance-sector-to-an-open-api-ecosystem Impacts on the Insurance industry The insurance landscape is undergoing its most fundamental transformation in decades, driven by the fast digitalisation in the sector. Just like the entertainment, media and retail industry, the […]
