Over recent years the insurance sector has gone through a vast amount of growth and technological development. Due to prosperity and growth in digital technology, more and more people are relying on online platforms to renew policies, compare insurance quotes and acquire faster, more efficient insurance. Many companies have thrived in this space, focusing their attention on revitalizing the insurance sector using insurtech.Read More
For weeks we’ve been hearing about the steady demise of LendingClub, one of the largest peer-to-peer (P2P) online lending platforms in the states, after its founder and Chief Executive Renaud Laplanche was removed from his post after being implicated in allegations of fraud and non-disclosure.
But what does this mean for the fledgling P2P insurance marketRead More
Price aggregator sites have been cropping up in a huge variety of industries from electronics to travel. The trend can be tracked alongside the rapid increase in consumers’ desire for more information and immediate access to products.Read More
Wearables offer a raft of opportunities for insurers, but implementing them isn’t a simple task. Here’s what insurers need to be wary of before they jump on the bandwagonRead More
At the FST Future of Insurance Conference a couple weeks ago, it was clear what was on everybody’s mind. Overwhelmingly, the topics of the day focused on two things: data and wearables.
Our Future of Insurance survey showed that the topics were definitely relevant; 30.8% of insurers think wearables will have the biggest impact on insurance in the next few years, well above any other new technology:Read More
With the cloud poised to become a major disruptive force in the financial services industry, there are legitimate questions about the role of cloud software in managing information security risk.Read More
Recently, we held a Shifting Gears breakfast session with a group of life insurance professionals to discuss some of the key disruptive forces facing insurance in Australasia, and the global industry as a whole. This is a guest blog from one of the speakers, Russell Hutchinson on the discussion he led.Read More
As a result of the digital revolution, the financial services have seen an influx of new technology that has been dubbed ‘fintech.’ These new technologies have already contributed to the moulding of modern day financial institutions, and fundamentally changed the way financial services are structured, provisioned and consumed. Investment in financial-technology (fintech) companies grew by 201% globally in 2014, indicative of the huge shift in mindset.Read More
Recently, Mckinsey and Company released a study confirming what we all know. Along with the rest of the world, insurers are feeling increasing pressure from the current economic climate. The profitability of life insurance is suffering, and reducing costs is one of the fastest ways to gain a competitive advantage. So what can insurers do to pull themselves out of a slow decline...Read More