From Celent – Applying AI to Insurance Problems

The move to complex problem solving with data, analytics, and AI

In these excerpts from Oliver Wyman’s sister company Celent, Craig Beattie, Nicolas Michellod and Zao Wu provide a compelling overview of the kinds of problems AI (artificial intelligence) is being used to tackle in insurance.  Increases in computing power, greater investments in algorithms amenable to parallelization, and growth in data availability are combining to have two important impacts on applying…

From Best’s Review: Reading Tea Leaves and Shining Spotlights

Profile of Caribou Honig, the visionary behind InsureTech Connect

InsureTech Connect began in 2016 with 1600 attendees.  Attendance at this fall’s event is expected to top 6,000, with over 250 speakers at 50-plus sessions.  In the audience will be tech entrepreneurs, investors and insurance industry incumbents from across the globe.  But how did a fedora-wearing visionary and venture capital veteran end up in the events business, and on an…

The Future of Insurtech Now: Revisited – Drones

Review of key themes and trends in insurtech

Last year at InsureTech Connect we outlined six amazing technologies already reshaping insurance:  drones / robotics, conversational artificial intelligence (AI),  computer vision, sensors, blockchain, and genomics.  So what’s happened in that time in these areas, and what’s new and upcoming? Over the next few posts let’s revisit these themes and see where things are, and where they could go.  One…

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From the Insurtech Frontier

The road to launch for an insurtech startup

Walk the exhibition floor of InsureTech Connect, and you’ll find a wide range of companies dedicated to finding new value in insurance and all its attendant businesses.  The vibrant nature of this world masks the real challenges of opening up a new frontier.  What’s the road to launch for an insurtech?  How do they see the opportunities and where do…

How Can Startups Thrive in an Insurtech Ecosystem?

A look back at ITC 2017: Our InsureTech Connect Conversation with AIG's Guarav Garg

Summer is under way and planning is ongoing for InsureTech Connect 2018, October 2-3 at the MGM Grand Las Vegas.   Join more than 5,000 attendees for the latest in what’s happening and where insurtech will be heading.  Oliver Wyman will once again be the presenting sponsor for the world’s largest insurtech gathering, where entrepreneurs, investors, insurance executives, and risk managers meet…

The CRO Function: Past, Present, and Future

From the Oliver Wyman Insurance Insights Series

Join Oliver Wyman Partner and head of EMEA Insurance Anthony Bice as he chats with Raj Singh, long-time CRO and current insurtech entrepreneur about how the role of CRO is changing in the face of innovation coming from insurtechs and fintechs. In a two-part discussion Raj looks across the CRO function and talks about where it’s going and new challenges. …

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Meeting and managing catastrophes with insurtech

Insurtechs putting the puzzle pieces of resilience together

It seems that not a day goes by where we don’t read about some catastrophic natural disaster, somewhere: hurricanes in the Caribbean, earthquakes in Mexico or Taiwan, wildfires in California, and now volcano eruptions in Hawaii and Guatemala.  The losses are devastating – in economic terms, for example, losses are in the tens of billions of dollars or more for…

From BRINK: Could GDPR Transform the Insurance Industry?

Appreciating the strategic opportunities and threats of a new regulatory era

Our colleagues at BRINK are running stories on the implications of the General Data Protection Regulation (GDPR), and we thought this piece from our Oliver Wyman colleague Kaijia Gu especially relevant for our insurtech audience. Having crossed the long-awaited threshold of the General Data Protection Regulation (GDPR), the door to the new regulatory era is finally open. Revised laws protect…

InsureTech Connect 2018

The world's largest insurtech event

We are delighted to offer a discounted registration here. For an exclusive VIP discounted rate, contact Oliver Wyman insurtech experts Matt Leonard and Prashanth Gangu.    

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Where is Digital Transformation Being Accomplished in Insurtech?

From: Digital Transformation in Insurance - Current State and Way Forward (Celent)

A newly released report from our colleagues Mike Fitzgerald and Niall Williams at Celent, Digital Transformation in Insurance: Current State and Way Forward, draws on a survey of insurance executives to provide some “under the hood” data on strategic goals, approach, and progress of digital initiatives.  As shown above, most of the transformation effort is in functions with a higher…