Six Things | October 26, 2021

In this week's Six Things, Paul Carroll discusses the supply chain fiasco. Plus, insurtech is much more than just hype; the future of digital claims; innovation at the point of the customer; and more.

Insurance Thought Leadership

October 26, 2021

The Supply Chain Fiasco

Paul Carroll, Editor-in-Chief of ITL

Now that ports have been identified as the major bottleneck in the supply chain dysfunction that is slowing the economic recovery and raising prices, a Twitter connection of mine offered a novel solution:

“Assign all ships, trucks, yards, workers and rules to an app. Call it Port Simulator, and the world’s 15-year-olds will have [the supply chain problem] fixed in a week or two. It is literally [the premise of] every simulation game I’ve ever played.”

If only the answer were that simple. In fact, it now seems the supply chain fiasco will run deep into next year, putting a crimp in the plans of almost every sort of business across the globe and requiring agility by those that insure them.

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SIX THINGS

Insurtech Is Much More Than Just Hype
by Stephen Applebaum

Despite Chubb CEO Evan Greenberg's claim that insurtech is just hype, the movement is real and important and exciting and valuable.

Boldly Insure Where No One Has Gone
by Christopher McKeon, Ann Satovich, McKay Simmons, Christopher O’Connor and Brad Barger

Commercialization of space is a once-in-a-generation opening.

Tackling the Growing Problem of Insurance Fraud

Future of Digital Insurance Claims
by Mark McNally

We could be in danger of leaving the customer out of the equation in the rush to digitize and automate insurance processes.

Make Lemonade Out of Lemonade
by Anthony Habayeb

Lemonade's recent glitch sheds light on public fears about AI -- and about what must be done to keep AI innovation from slowing.

Long Live the Claims Adjuster!
by Mark Breading

There is tremendous momentum for leveraging technology in claims, but that does not mean the adjuster will become obsolete.

Innovation at the Point of the Customer
by Bobbie Shrivastav

Innovation must focus on claimants, who deal with all sorts of requirements while going through perhaps the worst time of their lives.

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The Right Way to Engage Customers

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They are also increasingly digging further into the roots of the problem. As you’ll see in the articles we’ve highlighted for this month, insurers are focusing more on how to raise the alarm about climate change and on how to make the world more resilient in the face of the challenges that we face today and that are surely coming.

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