insurtech

Follow the Money – Insurtech Is Pulling Big Funding From Venture Capitalists

By Todd Halterman
Follow the Money – Insurtech Is Pulling Big Funding From Venture Capitalists

Insurers predate the adoption of electricity. But it’s innovation which sets precedents that ultimately result in tidal shifts in the way business is conducted. While the US insurance industry alone produces more than $1 trillion of revenue a year, there’s still plenty of room for growth – and room to take advantage of opportunities. One outfit at the bleeding edge of how insurtech startups come into being, Plug and Play, say they plan to fund…

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How Drunk Tweets and Big Data Will Affect You and Your Insurance Premiums

By Todd Halterman
How Drunk Tweets and Big Data Will Affect You and Your Insurance Premiums

Like it or not, Big Data is fast becoming critical to competing in the field of insurance from underwriting to rating in the property and casualty insurance markets. As a result, the National Association of Insurance Commissioners (NAIC) are taking up the gauntlet and their Innovation and Technology Task Force is focusing on offering consumer protections related to how that influx of data is utilized. The deputy commissioner and chief actuary from the Alabama Department…

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Insurtech Company Fabric Aimed at Niche Marketing Life Insurance to Busy Young Parents

By Todd Halterman
Insurtech Company Fabric Aimed at Niche Marketing Life Insurance to Busy Young Parents

They call them ‘insurtechs,’ and the focus is on using the latest in data and AI technology to sharpen the competitive edge for life insurance companies. One of the hottest players in the game, Fabric, has targeted new and expecting parents. “Life insurance isn’t something you think about – or buy every day – and the existing system is built to take advantage of your confusion,” says Adam Erlebacher, a co-founder of Fabric. “You should…

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Did You Buy Your Insurance Policy From a Chatbot?

By Todd Halterman
Did You Buy Your Insurance Policy From a Chatbot?

First Insurance Sales Chat Bots Launched On Facebook Messenger An Israeli small business insurance startup, Next Insurance, are pioneering a much-maligned technology as they recently launched a “chatbot” for personal trainers interested in buying insurance.   The chatbot works via the Facebook Messenger app, and in a similar fashion to the operation of their website, the bot guides users through answering a few short questions to provide them a quote. The Messenger bot will queries users for…

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Insurtech Startups Are Going to Change the Way You Buy Insurance

By Todd Halterman
Insurtech Startups Are Going to Change the Way You Buy Insurance

What Insurtech Innovations Will Mean to You The word “insurtech” describes technology innovations aimed at amping up the efficiencies of the insurance industry model. A marriage of “insurance” and “technology,” the concept hinges on the idea that the business of insurance is poised and ready for innovation and disruption. At the core of the idea is an insistence on exploiting gaps in the business that larger insurance concerns may not have sufficient incentive to explore…

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