Going Digital

We all agree that digital is the future -- and even the present. But ACORD finds that 25% of insurers haven't fully digitized their value chain, and 10% have done nothing.

With increased adoption of APIs (application programming interfaces), embedded insurance products can seamlessly integrate into third-party buying processes. 

"Digital coworkers" can address the staffing shortages that claims departments face, while covering for inadequacies in technology and processes.

A prominent futurist offers eye-popping nuggets about how computing costs are rapidly heading toward zero and driving us toward almost unlimited information at nearly zero cost. 

For every dollar of premium sold, the company pays $1.60. Still! And the churn rate for customers appears to be at least 30% to 40%.

Traditional insurance companies do not offer the coverage options e-commerce retailers need to protect themselves against emerging risks.

Anyone who has purchased insurance by phone and a series of back-and-forth emails knows how slow and difficult that process can be. But it doesn't have to be that way. 

Insurtech 2.0 recognizes the innovators who came before but takes a more nuanced and collaborative approach, recognizing the structural issues inherent in insurance.