According to a new insurtech report, policyholders have become more cautious when taking out insurance, resulting in the need for insurers to empower their distribution ...
Our Global Insurance Industry Year in Review is now in its ninth year. In this report, we discuss developments and trends in insurance industry transactions over ...
Initial public offerings of insurers and InsurTechs brought in $3.83 billion last year, reaching the highest total in at least five years, according to S&P Global ...
Funding for technology companies focused on the insurance industry will likely be robust this year and into 2022 as so-called insurtech companies mature.
Read more ...
Despite COVID-19's effects on the market earlier in the year, 2020 proved to be a record year for insurtech capital raising and M&A activity. In a recent report ...
When COVID-19 first struck, insurance companies around the world had to scramble to figure out their exposure to the systemic socio-economic event. No one had a clear ...
2020 marked the Mayer Brown Insurance Industry Forum’s seventh year bringing together industry leaders, insurance regulators and leading bankers and advisors to the ...
Evolving customer trends and rising competition from an array of digital players are pushing insurers to digitize quickly. Customers are increasingly turning to digital ...
In a recent 2021 insurance outlook, 200 industry leaders weighed in on their companies’ COVID-19 recovery efforts. How can the emerging lessons serve as a ...
Real-world driving data from connected cars is both a treasure trove and a minefield for auto insurers. Big banks’ efforts to deal with financial technology ...
A new year is right around the corner, which makes this an opportune moment for insurance agencies to revisit (or perhaps consider for the first time) their digital ...
Even before COVID-19 appeared, 2020 was shaping up to be pivotal for the insurance industry. The industry faced low rates, rising mortality, sluggish economies and ...
Mayer Brown partner Stephanie Duchene served as a panelist on the “Insurtech Innovation and its Effects on Insurance/Reinsurance” webinar on November 10, 2020 ...
The drumbeat for insurtechs to pursue a merger, acquisition or partnership is getting louder, with the number likely to substantially grow in the months ahead, an ...
Solid investor appetite for new and mature opportunities in the InsurTech sector was again in evidence during Q3 2020, as US$2.5 billion was raised by InsurTech firms ...
After a tough first half of 2020, insurtech companies saw a strong resurgence in activity in Q3’20. This quarter, insurtechs raised $2.5B across 104 deals — ...
The insurance industry is in the middle of a significant evolution, largely driven by the changing expectations of modern customers, new competitors, and the unique ...
Highlights from the insurance technology market update report for Q3 2020 include: Insurtech continues to see explosive activity, with ~$6 billion in financing volume ...
For telematics and connected car programs to work in the insurance industry, there has to be a multi-stakeholder approach that acknowledges the growing co-dependence ...
Over the past decade, life insurers have struggled with growth and profitability. By focusing on three priorities, insurers can reinvent themselves and reestablish their ...
Since its introduction to the world, insurance telematics technology has been closely linked to the advancement and adoption of usage-based insurance (UBI), and ...
COVID-19 has changed many things in the insurance industry. Seemingly overnight everyone is working from home and the companies with the best digital customer ...
A new survey conducted by tech research and advisory firm, Information Services Group, has found that over 90% of European insurers are expecting COVID-19 to ...
The next phase in the evolution of auto insurance claims will be heavily influenced by two key elements – telematics and vehicle build data.
Telematics tools are ...
To many consumers, buying life insurance can be painful. Despite insurance companies’ substantial investments over the past several years in digitizing customer ...
Lemonade, the insurance company powered by artificial intelligence and behavioral economics, today launched pet health insurance. Now, pet parents in 33 US states can ...
Insurers are constantly looking for new ways to utilize cutting-edge telematics. Whereas current technology used to be a novel but not a widely-used way to analyze risk, ...
On June 30, 2020 the National Association of Insurance Commissioners' (NAIC) Artificial Intelligence Working Group approved principles that call on insurers and others ...
Financial services companies are becoming hooked on artificial intelligence, using it to automate menial tasks, analyze data, improve customer service and comply with ...
Usage-based insurance (UBI) continues to attract funding despite the fall in insurtech investment due to COVID-19. According to a one survey of UK consumers conducted by ...
Modernization of technology can make a significant impact across many parts of the insurance industry, including underwriting, policy administration, and claims. ...
With the outbreak of the COVID-19 pandemic, virtual court hearings pose new issues for legal teams and there are steps that insurers should take to prepare for online ...
As the COVID-19 crisis evolves, it will continue to affect insurance distribution around the world. Insurers can prepare by building a strategy focused on near- and ...
Insurtech company Precision Autonomy has announced the launch of a new online platform for commercial drone insurance, backed by Old Republic Aerospace ("ORA") in the ...
Significant investments in direct-to-consumer website and mobile design have helped property & casualty insurance companies improve their digital service and ...
Banks and insurance companies believe AI is critical to unlocking new growth opportunities and reducing costs. In this new study from the Economist, companies report how ...
The global coronavirus pandemic has led to an unprecedented increase in the use of telemedicine. With stay at home orders in place to prevent further spread of COVID-19, ...
Pie Insurance, a Washington, D.C.-based startup offering workers’ compensation insurance to small businesses, announced this morning that it has closed on a $127 ...
In 2019, it was projected that the insurance industry was on the brink of a revolution in technology innovation. In a post-COVID-19 world, this outlook may be even more ...
While the COVID-19 crisis has many insurtech players reconsidering their short-term needs and long-term strategies, what has not changed is the insurance industry’s ...
Globally, InsurTech companies managed to raise US$912 million across 96 deals in Q1, but most of this was captured and completed at the beginning of the quarter. The ...
After a decade of digital strides, the insurtech industry is maturing and driving innovation across many insurance sectors. COVID-19 has put investor optimism and ...
CEO of Tesla, Elon Musk, has decided to replace the directors & officers ("D&O") policy with a promise to provide his board members with an "equivalent" coverage ...
Over the past decade, federal officials have made efforts to move from paper to electronic health records ("EHRs"), expecting to harness volumes of medical data to ...
Insurtech CEO shares insights on how the industry is managing risk and safeguarding consumers in the midst of the COVID-19 crisis.
Read the full interview here.
Given that vehicle usage is a fundamental and historical rating factor – a predictor of accident frequency – one could conjecture that telematics might be heading ...
While the global insurtech market was valued at $5.48bn in 2019, new research has suggested that figure could jump to $10.14bn by 2025, representing a compound annual ...
What does this global pandemic mean for the insurtechs? Potential consequences are that some of the insurtechs in a very early stage, might struggle because of less ...
Berlin-based insurtech firm wefox Group has announced the launch of a new technology platform, which will be made available to brokers for free amid concerns that the ...
RiskGenius, an insurtech using artificial intelligence to evaluate emerging risks across insurance portfolios, has released a checklist of potential coverage issues ...
The effects of the coronavirus pandemic have been felt in the global economy, and also for startups. This is potentially problematic for those that are underfunded , as ...
To take advantage of big data technology, insurance managers and underwriters need to first understand how to leverage its power in supporting their specific ...
Ping An Insurance (Group) Company of China, Ltd. has announced that its smart audio screening system has successfully identified more than 1,600 suspected cases of ...
Reinsurance broker Guy Carpenter & Co. has entered into a strategic relationship with RiskGenius, an insurtech firm that utilizes AI technology to evaluate emerging ...
InsurTech companies and insurance technologists are confronting the challenges and business process changes required to keep operations running during this crisis. Some ...
Zywave, an insurtech provider, has launched a new online library for insurance professionals, which offers access to free compliance, HR, and employee content and ...
With the world still grappling with the coronavirus outbreak, insurance companies and startups of the world are figuring out how to keep businesses running. Some key ...
Read the full article here.
Insurers have an opportunity to redefine their value proposition by reconsidering the role they can play in a new, flexible insurance ecosystem.
Read the full article ...
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Insurance giants have long hoped to bring more innovation into their business, but strict regulations and long-standing processes have hindered their progress. This ...
The world of insurance is changing as new ways of doing business are making their mark on the industry.
Investment in the insurance technology space is continuing to ...
The insurtech community in New York City will be borrowing an idea from the insurtech community in Iowa and organizing a major event that will showcase hot new ...
As societies across the globe grapple with increased uncertainty, from climate change geopolitical risk, or the revolution of technological progress — insurance is ...
Banks have certain activities related to insurance, such as referrals, premium financing and trust arrangements. Under the new Section 64G of the Insurance Ordinance ...
It's incumbent on corporate counsel to educate regulators about advancements in their industries, according to speakers at a conference in Phoenix on Wednesday, October ...
In 2019, the carriers' of InsurTech transactions hit a record in Q3: Willis.
Global investment in insurtech firms reached a total of $4.36bn in the first nine months ...
Mayer Brown LLP's Tom Hunter highlights areas of interest in this bylined article on the Berkeley Burke administration and the implications for the pension ...
The insurance technology space might be filled to the brim with investments and start-ups, but not all insurance companies are seeing an equal number of solutions coming ...
When it comes to innovation and utilization of emerging technologies in the insurance industry, reinsurance companies once led the way as early adopters of technology. ...
The Latest from Mayer Brown Regulatory Corner: California Attorney General Releases Proposed Regulations for the CCPA [Mayer Brown] Cyber Resilience for Insurers - ...
The UK's Financial Conduct Authority (FCA) revealed in an interim report its plans to ban companies from increasing the prices for existing customers, a practice known ...
For many, filing insurance claims means tedious paperwork and stressful phone calls. It doesn’t have to be that way—and, soon, it won’t. The McKinsey & Company ...
The number of cyber attacks are on the increase and so is its level of sophistication. Because insurance companies are data-driven businesses holding vast amounts of ...
A recent report, highlights an emerging trend of start-ups offering on-demand policies that allow customers to buy insurance by the hour, day or week. Variations can be ...
Bylined article by London Litigation & Dispute Resolution partner James Whitaker and associate Ali Jones on the rise of scandal insurance.
For more, visit ...
The Latest from Mayer Brown Regulatory Corner: Highlights from the NAIC Meeting – Investment-Related Initiatives [Insurtech by Mayer Brown] Global Financial Markets: ...
Investment-Related Initiatives from the NAIC Meeting of August 4, 2019 The National Association of Insurance Commissioners (“NAIC”) held its most recent national ...
Most carriers are struggling to meet their cost of capital, and productivity has barely moved over the past decade. Taking a more structural approach to productivity is ...
Advanced driver assistance systems (ADAS) are increasingly being rolled out by automakers to help drivers avoid crashes. This leads to potential issues whether insurance ...
On 20 July 2019, the Office of Financial Stability and Development Committee of the State Council, China’s Central Government, announced Relevant Measures for Further ...
There were 328 announced U.S. and Canadian insurance agency mergers and acquisitions during the first half of 2019, the second-highest six-month total, trailing only the ...
Enterprise cloud operations are expanding and maturing, but as with any natural maturation, inevitable growing pains must be endured and overcome.
As organizations ...
The Latest from Mayer Brown Regulatory Corner: Acquiring Ownership – Considerations in Acquiring a “Controlling” Interest in a US Insurance Company [Insurtech by ...
Investing in a US insurance company presents unique concerns to any investor. This is particularly the case if such an investment would result in the investor becoming a ...
The innovative use of technology by insurance companies ("Insurtech") is growing and offers the potential to improve customer experiences while also lowering insurer ...
Insurers can take concrete, evidence-backed actions to move them in the right direction and, cumulatively, improve their odds of long-term success. Purposeful, bold ...
As of the third quarter of 2018, Asian insurers spent US$35.2 billion on technological advancements, according to a report by Capco Digital, and regulators are ...
A year after the UK Prudential Regulation Authority (PRA) published its controversial Consultation Paper (CP) 6/18 "Credit risk mitigation: Eligibility of guarantees as ...
The new Section 90 of the Insurance Ordinance Cap. 41 (“Ordinance”) introduces statutory conduct requirements for licensed insurance agents and insurance brokers. ...
Under the new insurance licensing regime, Section 64G of the Insurance Ordinance Cap. 41 provides that a person must not carry out regulated activities, or hold out as ...
The California Consumer Privacy Act (“CCPA”) will impact how insurers collect, store, sell and process the personal information of California consumers. Other US ...
The past ten years have resulted in numerous changes to the corporate governance requirements for insurance companies and, as appropriate, their parent companies and ...
A consortium of 12 insurance underwriters led by Liberty GTS recently paid a €50 million claim under a warranty and indemnity liability (W&I) insurance policy ...
Partners Paul Chen, Kara Baysinger, Matt Gaul and Stephanie Duchene recently joined the firm, significantly strengthening our global insurance capabilities. ...
On February 26th CB Insights hosted a webinar covering specific topics and themes to watch out for in 2019.
State of Investment
The growth of insurtech continued ...
Lack of innovation in home insurance can cause homeowners to be underinsured, and I've seen insurance companies seeking solutions to change the current landscape. Auto ...
