Chris Colborn, Chief Experience Officer at Lippincott, kicked off ITC 2019 to a packed house this morning in Las Vegas, where he challenged the audience to create go-to brands that create purpose-driven solutions for their customers, increase the quality of the customer experience, and generate value for customers and insurers.
Flight delays are an all-too familiar occurrence these days for any travelers. The announcement, the scramble to reschedule (and sometimes to find a place to sit with a plug for your phone or laptop), and the inevitable search for a way to make the time productive until the alternate flight takes off. It’s a risk, and like all risks, it also presents an opportunity. One that startup Cleverea saw as a way to create value for all involved in the scenario: customers, insurers, even retailers in airports. Their idea: provide a flight delay solution that will compensate passengers for delays of fifteen minutes or more, with a flexible view of what that compensation might be.
Oliver Wyman Insurtech caught up with Oliver Wyman Partner Jim Fields, who’s been fully engaged with a healthcare startup, Practicing Wisely®, which evaluates physician performance on evidence-based treatment measures. We thought that the lessons he’s learned as Practicing Wisely went into the marketplace would be applicable to many insurtechs in the same position.
This year, the company is continuing to expand and create new value for customers. With the rapid proliferation of commercial drone opportunities, Flock saw a need in the marketplace. Most recently, it launched Flock Enterprise, the world’s first real-time insurance and risk management product for drone fleets.
The company's business model provides affordable crop insurance to farmers—and allows investors to add diversified returns and social impact to portfolios.
What if you could work with data that’s collected in a smarter way? And digging through documents to find relevant information was a thing of the past. That’s the idea behind DataCubes—a commercial underwriting platform powered by data science.
Insurtechs may think the ongoing disruption of the insurance industry means they’re exempt from the “old rules.” But to compete and gain entry into the industry with their innovations, the rules are still the same, according to Matt Leonard, Oliver Wyman Partner. “It’s amazing how many startups forget this,” he added.
Learn more how Betterview decided to pivot from its original value proposition and built a sophisticated property data platform. The result...a fruitful $4.5 million Series A, that brings total funding to $10 million.
Traditional models are being disrupted, creating gaps in the market where insurers have the opportunity to provide services in new cost-effective and customer-centric ways. Insurers can fill these gaps by taking a greenfield approach to building new business capabilities.
In a recent report, Pace Of Change: Critical Drivers Impacting The Transformation Of Insurance, our colleagues at Celent surveyed property & casualty carriers.