Six Things Newsletter | June 23, 2021

In this week's Six Things, Paul Carroll looks at Budweiser's intriguing stunt. Plus, aggressive response to ransomware; how insurtech thrived in the pandemic; insurers turn to automation; and more.

In this week's Six Things, Paul Carroll looks at Budweiser's intriguing stunt. Plus, aggressive response to ransomware; how insurtech thrived in the pandemic; insurers turn to automation; and more.

Budweiser’s Intriguing Stunt

Paul Carroll, Editor-in-Chief of ITL

Budweiser Canada garnered attention in recent days by teasing the possibility that it was entering the insurance market. How would that even work for the brewing company? What kind of insurance? How would Budweiser underwrite it? How would it process claims?

A few days later, Budweiser said it was really just setting up a raffle, with “barbeque insurance” as the prize. If something happens to cancel your barbeque — even if you messed up and ran out of propane — you can file a “claim” with Budweiser. The company will then randomly select winners, who will receive as much as $2,500 in “insurance.”

But, even once it was unmasked as a publicity stunt, the Budweiser announcement raises intriguing possibilities for “embedded insurance” and for the use of application programming interfaces (APIs) to build whole ecosystems.

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SIX THINGS

Aggressive Response to Ransomware
by Kunal Sawhney

Government and the private sector should work hand in hand to deal with cyberattacks and ensure data is recovered without paying a ransom.

Read More

How Insurtech Thrived in the Pandemic
by Samir Gulati

Through insurtech solutions, insurance companies learned to adapt to remote work without sacrificing efficiency, productivity or collaboration.

Read More

Insurers Turn to Automation
by Sathyanarayanan Sethuraman

When automation is a core technology, transformation can occur at speed, meaning faster return on digital investment.

Read More

Shortening the Conversion Cycle
by Louis Cipriano

The pathway to faster sales and high return on marketing investment is tied to effectively leveraging behavioral data.

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The Times, They Are A-Changin’
by Mark Breading

A survey revealed that four in five carriers in commercial lines have new plans underway for distribution, with less than 20% standing still.

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The Human Risks in Insurer/Broker M&A
by Donna Galer

With an uptick in M&A in the insurance industry, it is timely to consider some of the most common of these risks.

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How to Increase Profits With Connected CX
sponsored by Statflo

Fostering connected experiences is vital to meeting customer expectations and succeeding in a technology-centric world.

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MORE FROM ITL

A Conversation on Workers' Compensation, with Kimberly George and Mark Walls

As the world starts to emerge from the pandemic, ITL Editor-in-Chief Paul Carroll sat down to discuss the new normal for workers’ comp with two of ITL’s most widely read contributors: Mark Walls, VP of communications and strategic analysis at Safety National, and Kimberly George, global head of innovation and product development at Sedgwick.

Watch Now

JUNE FOCUS: Workers' Compensation

The world of work turned upside-down and inside-out beginning 15 months ago, as the pandemic shut down offices and forced so very many of us to work from home.

Now that we're beginning to reverse this process, insurers will have to sort through all sorts of new issues. Here's one: When is the place where a worker works a "workplace," and when is it not?

Welcome to the new world of workers' comp.

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Insurance Thought Leadership

Insurance Thought Leadership (ITL) delivers engaging, informative articles from our global network of thought leaders and decision makers. Their insights are transforming the insurance and risk management marketplace through knowledge sharing, big ideas on a wide variety of topics, and lessons learned through real-life applications of innovative technology.

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