Posts in Future of insurance
Adam Follington and Klaas Stijnen - Three decades with no innovation?

We captured a sit down with Adam Follington, Head of Quantium NZ, (one of Australasia’s top analytics firms) and Klaas Stijnen, Managing Director at Montoux (life insurance pricing intelligence software). Adam and Klaas discuss the last true innovation in life insurance products and muse over what could be the next game changer for the industry.

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What does the LendingClub scandal mean for peer-to-peer insurance?

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 market

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NPS - why life insurers should care more

If you haven’t heard of Net Promoter Score, then you probably don't work for a tech company. In this age of agile digital startups and powerful data giants a few methodologies have emerged as staples. There are some things that any self respecting startup founder goes to bed thinking about, and some of those things should be keeping insurers awake too. Arguably the most important is Net Promoter Score.

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The future looks wearable - a break down from FST’s Future of Insurance Conference

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:

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Niche providers informed by bigger, better data

Insurance is becoming increasingly commoditized, and the result is a price war. In the eye of the consumer, cheaper is now better. This type of competition is bad news for insurance companies, who can’t sustain a bidding war for long.

As differentiation by price point gets harder and harder to achieve, some insurers have sought out other avenues for gaining the upper hand. One of the most notable and successful methods of doing this has been offering more specific products that meet the needs of a very specific market. 

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