Oliver Wyman's Paul Ricard connects with Metromile, a rising insurtech that is disrupting the $250 billion-dollar auto insurance category. The company combines the power of data science and machine learning to offer customers pay-per-mile auto insurance products and a seamless, customer-centric claims process.
by Matt Leonard and Prashanth Gangu
After three days charting the progress of industry innovation, re-connecting with the authors of the current wave of change, and meeting the leaders who will script the future—we are at once exhausted and energized. And while it is impossible to do #ITC2019 justice in a few sentences, here are our takeaways from the week.
Event wraps up with continued focus on customer needs and collaboration
Mix 7,000 insurers, investors, and technology entrepreneurs together in Las Vegas, add a healthy dose of ideas, provide opportunities for discussion and networking, and what do you have? Day 2 of InsureTech Connect 2019.
Lippincott's Chris Colborn keynote kicks off a day of rich discussion
The buzz began well before the official opening, as more than 7,000 insurers, brokers, investors, and tech entrepreneurs gathered at the MGM Grand for two days of high-intensity discussions about the future of insurance, networking, and presentation of their solutions at the “world’s largest gathering of insurance leaders and innovators.” What had been separate whispers, and then one-on-one conversations over the past three years, are now full-throated choruses: AI, IoT, telematics, robotics.
Lippincott's Chris Colborn Challenges the Industry to Create Go-To Brands
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.
Catching up with Cleverea
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.
Jim Fields on the promise and pitfalls of using trial programs
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.
Interview with Ed Leon Klinger, CEO of Flock
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.
Interview with Chris Sheehan, Co-Founder and CEO
The company's business model provides affordable crop insurance to farmers—and allows investors to add diversified returns and social impact to portfolios.
Interview with Phil Alampi, VP of Client Engagement
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.