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Business models

The future is closer than ever.

The future is closer than ever.Innovation in insurance has more often come from the property & casualty side (for example, telematics in auto insurance). Partly because of the nature of the products, and perhaps also because of the age of company systems, life insurance has been slower to change. But change is definitely afoot.

Credit Karma Unveils New Auto Insurance Solution at ITC 2018

An ongoing theme at InsureTech Connect 2018 (ITC18) was finding a customer need and delivering a customer-based solution. ITC18 went beyond mere discussion from the outset as attendees of Credit Karma founder and CEO Kenneth Lin’s keynote “Karma in Insurance” discovered.

Big tech takeover?

Rick Chavez keynote kicks off a day of rich discussion

With over 200 speakers across 2 days there’s no shortage of ideas at the world’s largest gathering of entrepreneurs, insurers, and investors. We’re sending out teams of colleagues to cover the rich discussions taking place across the conference. Here are some of the high points from DAY 1 of ITC 2018.

Santosh Perumbadi, Simply Business

Oliver Wyman’s Paul Ricard caught up with Santosh Perumbadi from Simply Business at InsureTech Connect 2018. Founded in 2005, Simply Business is an online business insurance brokerage that specializes in small business insurance. As a wholly-owned subsidiary of Traveller’s, what’s it like to take up the insurtech challenge from within a Fortune 200 company?

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Oliver Wyman's Rick Chavez on Meeting Mega-Disruptions in Insurance

Flashing blue disco lights, pop music, a half dozen very large TV screens, and thousands of people. Sound like insurance? It’s insurance disrupted. This morning at ITC 2018 Rick Chavez, Oliver Wyman partner and the head of the America’s Digital Strategy Acceleration Practice gave a keynote describing the opportunities for legacy insurers trying to transform their business.

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...

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.

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.

What are the implications of a blend of digital and human capabilities?

The recent report from Oliver Wyman and the Chartered Insurance Institute (CII), “The Underwriter of the Future Six Years On,” makes clear that in many areas of corporate and commercial insurance, much of the current “artisan” business model will get a “bionic upgrade” – not 100% machine, but an inseparable blend of digital technology and human capabilities.

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