2022 ITL Yearly Wrap Up

ITL Six Things: 2022 Highlights

Yearly Wrap Up

Why Underwriters Don’t Underwrite Much

The average underwriter spends 40% of their time on administrative tasks, 30% on negotiation and sales support and only 30% on actual underwriting.

Read More

Lemonade: No Sign of Disruption Yet

For each dollar of premium, claims cost Lemonade 90 cents, marketing cost it 60 cents and other costs added 40 cents. Feel a little betrayed?

Read More

Auto Claims and Collision Repair: The Great Reset

Barring another “black swan” event like the pandemic, the automotive ecosystem of 2030-2035 will be virtually unrecognizable from today.

Read More

Is Cyber Insurance on Brink of Collapse?

An industry that is too important to fail suffered claims of almost $7 billion in 2021 and now looks to take the lead in reducing client risk.

Read More

How Smart COIs Can Revolutionize Insurance

Smart certificates of insurance eliminate risk, ensure compliance and reduce costs for every stakeholder in the process.

Read More

Insurers' Social Inflation Problem

In the face of aggressive action by plaintiffs attorneys, the insurance industry is steadily losing a battle it hasn’t really begun to even engage in.

Read More

 

The Staffing Crisis in Insurance

The Great Resignation is walloping insurance--65% of those who resigned from a job in the past two years left the industry entirely.

Read More

The End of the 9-to-5 Workday

As managers debate the future of remote work, the model of the 9-to-5 work day needs to adapt, too, and in some cases be eliminated.

Read More

Is Silicon Valley Passe?

An announcement by a prominent venture firm suggests we have reached peak Silicon Valley and, more broadly, are headed toward a more decentralized model for innovation.

Read More

What Happens When Insurance Truly Goes Digital?

As I've watched industry after industry go digital over the past 35 years, I've seen that the process looks a lot like the camera in your phone. I'll explain.

Read More

What Happened to the Insurtech Revolution?

Don't look now, but some of the big insurtech names -- Lemonade, Hippo, Oscar, Root and Metromile -- are having a rough go of it.

Read More

Is the Email Era Ending?

Email is based on an antiquated physical model (the inbox and outbox), and better ways of communicating -- even collaborating -- with customers are emerging.

Read More

 

An Interview with Mark Walls

Mark Walls, vice president, client engagement, at Safety National and long my go-to person on workers' comp, says the industry faces a major issue with staffing -- actually, two major issues.

Read More

An Interview with Joel Zwicker

"Many agencies will say, well, we have two policies per client, so we've done a really good job because the industry average is around 1.62. But if my agent only has two policies with me, he's left well over half my business on the table."

Read More

An Interview with Henry Gale

As part of this month’s ITL Focus on parametric insurance, we spoke with Henry Gale, parametric insurance research lead at Instech London, on the prospects for this increasingly popular approach to insurance.

Read More

An Interview with Nigel Walsh

As part of this month's ITL Focus on automation and RPA, we spoke with Nigel Walsh, managing director, insurance, at Google, about how far automation has progressed -- and about how to think about what comes next. Why automate a form or a process when you can simply eliminate it?

Read More

An Interview John Sviokla

As part of this month's ITL Focus on Claims, we spoke with John Sviokla,

Read More

An Interview With Chris Cheatham

The first round of insurtech appears to be over. The next round, in its formative stages, promises massive gains in efficiency, real-time quoting and binding, and more.

Read More

 

WHAT'S DRIVING INNOVATION FOR 2023?

Sponsored by OneShield

Respondents of our 2022 Insurer Tech Survey reported top challenges: keeping up with innovation, having sufficient IT resources and staffing to implement critical strategies, and limitations of infrastructure to address new opportunities. How will 2023 differ? We've just launched our 2023 Insurer Innovation Survey, and it's a great opportunity to share your perspectives and predictions – and gain immediate access to the aggregated responses from your peers as they unfold. Please share your outlook today!

Take Survey Now

A NEW ERA OF INSURTECH

Sponsored by Majesco

Join Majesco’s Denise Garth and Allstate’s Peggy Klingel as they explore what the new era of insurtech looks like! From the growing needs of customers and the demand for digital, to the importance of platforms for innovation and moving to a multi-channel world.

Read More

METAVERSE RISKS AND OPPORTUNITIES

Sponsored by International Insurance Society

The metaverse presents a range of economic opportunities but there are unknown questions surrounding social impact, consumer protection and regulation manifestation. Insuring avatars and associated personal digital assets is a real time opportunity, while proving financial loss in the metaverse is complicated. Insurers must master blockchain technology and data driven techniques as one of several measures to ensure they can provide protection against damages caused by products/services in the metaverse.

Read More

WHAT’S NEXT FOR INSURTECH?

Sponsored by JobsOhio

Ron Rock, senior director, insurance/insurtech, JobsOhio, and Andrew Daniels, founder and managing director, InsurTech Ohio, talk about what comes next for the insurtech market.

Read More

TURNING UNDERWRITING INSIDE OUT

Sponsored by IntellectAI

In this on-demand webinar, Paul Carroll, editor-in-chief of ITL, and Deepak Dastrala, Chief Technology Officer of IntellectAI, explore a different way of looking at how to improve underwriting; focusing on the needs of the underwriter, not just on the process. The webinar covers:

  • The extraordinary inefficiencies that underwriters confront every day and how AI can remove them.
  • Why Human-Centered Design is the best approach to helping underwriters be far more efficient and effective.
  • Why Garry Kasparov is right that a sort of centaur, a combination of human and AI, should always outperform either a human or an AI alone.

Register Today

WILL WEB3 REINVENT INSURANCE?

Sponsored by Oliver Wyman

At Oliver Wyman, we have been helping clients understand Web3 and what it means for insurers, and guiding strategic moves — near-term and longer-term — around this evolving ecosystem. Our latest research finds the Web3 economy is currently under-insured and has huge potential for future growth. Here, we share a practical guide for insurance executives to help separate hype from reality, including Web3 insurance opportunities and risk considerations.

Read More

Read More