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insurance – insurtech
  • Home /#insurance
08 December 2020

Insurance Technology and Innovation: Invest, Buy or Build

2020 marked the Mayer Brown Insurance Industry Forum’s seventh year bringing together industry leaders, insurance regulators and leading bankers and advisors to the ...

04 December 2020

Future of insurance: Unleashing growth through new business building

Evolving customer trends and rising competition from an array of digital players are pushing insurers to digitize quickly. Customers are increasingly turning to digital ...

03 December 2020

2021 insurance outlook: Accelerating recovery from the pandemic while pivoting to thrive

 

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 ...

30 November 2020

Driver Data Is a Help and a Hazard for Auto Insurers

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 ...

27 November 2020

Mapping out insurance agencies’ digital marketing strategies for 2021

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 ...

16 November 2020

Predictions 2021: Insurers Find Opportunity Amid Chaos

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 ...

10 November 2020

IRUA Insurtech Innovation and its Effects on Insurance/Reinsurance

Mayer Brown partner Stephanie Duchene served as a panelist on the “Insurtech Innovation and its Effects on Insurance/Reinsurance” webinar on November 10, 2020 ...

30 October 2020

Why It’s a Good Time for Insurtechs to Be Thinking About Mergers

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 ...

28 October 2020

Record-breaking InsurTech fundraising in Q3 2020, as ‘funding gap’ widens

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 ...

28 October 2020

Insurance Tech Q3 2020

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 — ...

15 October 2020

Six Tech Trends to Watch in the Insurance Industry

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 ...

14 October 2020

Insurance Technology Market Update Q3 2020

Highlights from the insurance technology market update report for Q3 2020 include:
Insurtech continues to see explosive activity, with ~$6 billion in financing volume ...

05 October 2020

Three snagging points slowing the progression of telematics in insurance

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 ...

29 September 2020

The future of life insurance: Reimagining the industry for the decade ahead

Over the past decade, life insurers have struggled with growth and profitability. By focusing on three priorities, insurers can reinvent themselves and reestablish their ...

22 September 2020

Merging technology, claims & usage-based insurance

Since its introduction to the world, insurance telematics technology has been closely linked to the advancement and adoption of usage-based insurance (UBI), and ...

14 September 2020

Triple Threat: Carrier-Insurtech-Agency Partnerships Can Transform Commercial Lines

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 ...

07 September 2020

ropean insurers expecting COVID-19 to accelerate digital innovation: analysts

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 ...

31 August 2020

Telematics and vehicle build data – the next frontier for auto claims

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 ...

31 July 2020

Rewriting the rules: Digital and AI-powered underwriting in life insurance

To many consumers, buying life insurance can be painful. Despite insurance companies’ substantial investments over the past several years in digitizing customer ...

15 July 2020

Lemonade Launches Health Insurance for Cats and Dogs

Lemonade, the insurance company powered by artificial intelligence and behavioral economics, today launched pet health insurance. Now, pet parents in 33 US states can ...

14 July 2020

Four Insurance Data Trends to Follow

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, ...

02 July 2020

NAIC’s Artificial Intelligence Working Group Adopts Principles for AI

On June 30, 2020 the National Association of Insurance Commissioners' (NAIC) Artificial Intelligence Working Group approved principles that call on insurers and others ...

30 June 2020

AI Only Scratching the Surface of Potential in Financial Services

Financial services companies are becoming hooked on artificial intelligence, using it to automate menial tasks, analyze data, improve customer service and comply with ...

29 June 2020

Investors Turn to Usage-Based Insurance Amid Pandemic

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 ...

22 June 2020

Top 10 Myths of Technology Modernization in Insurance

Modernization of technology can make a significant impact across many parts of the insurance industry, including underwriting, policy administration, and claims. ...

17 June 2020

Legal Focus: Insurers Must Prepare for Virtual Trials in the Wake of the Pandemic

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 ...

12 June 2020

How Insurance Can Prepare for the Next Distribution Model

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 ...

02 June 2020

Insurtech Company Launches New Drone Insurance Platform

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 ...

02 June 2020

Pandemic Stay-at-Home Experience Raises P&C Insurers’ Bar for Delivering Digitally

Significant investments in direct-to-consumer website and mobile design have helped property & casualty insurance companies improve their digital service and ...

01 June 2020

The Road Ahead: Artificial Intelligence and the Future of Financial Services

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 ...

01 June 2020

COVID-19 Sparks Unprecedented Increase in Telemedicine

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, ...

28 May 2020

Pie Insurance Secures $127M To Provide Workers’ Comp To Small Businesses

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 ...

22 May 2020

Opening the Door to Insurance Carrier Innovation in Post-COVID-19 World

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 ...

12 May 2020

COVID-19 Impact on Insurtech: Considerations for Insurtech Companies, Their Investors and Traditional Insurers

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 ...

04 May 2020

Quarterly Insurtech Briefing Q1 2020

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 ...

04 May 2020

Insurance Tech Q1 2020

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 ...

01 May 2020

CEO Musk Replaces Tesla’s D&O Policy with ‘Personal Coverage’

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 ...

30 April 2020

As Coronavirus Strikes, Crucial Data In Electronic Health Records Hard To Harvest

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 ...

27 April 2020

US Insurance Market Trends During the Pandemic

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.

19 April 2020

Will COVID-19 Give Telematics New Life?

Given that vehicle usage is a fundamental and historical rating factor – a predictor of accident frequency – one could conjecture that telematics might be heading ...

17 April 2020

Global InsurTech Market to Be Worth $10.14bn by 2025 as Traditional Insurers Embrace Innovation

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 ...

31 March 2020

The Impact of Coronavirus on the Insurtech Scene

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 ...

30 March 2020

Insurtech wefox Launches Broker Platform Amid COVID-19 Concerns

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 ...

27 March 2020

RiskGenius launches COVID-19 risk checklist

RiskGenius, an insurtech using artificial intelligence to evaluate emerging risks across insurance portfolios, has released a checklist of potential coverage issues ...

27 March 2020

The impact of coronavirus (COVID-19) on the insurance industry. What does this mean for the insurtech startups?

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 ...

27 March 2020

How insurers can use big data to manage the COVID-19 pandemic

To take advantage of big data technology, insurance managers and underwriters need to first understand how to leverage its power in supporting their specific ...

25 March 2020

Ping An screening system identifies 1,600 coronavirus cases

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 ...

25 March 2020

Guy Carpenter Partners with RiskGenius to Expand Silent Cyber Analysis

Reinsurance broker Guy Carpenter & Co. has entered into a strategic relationship with RiskGenius, an insurtech firm that utilizes AI technology to evaluate emerging ...

24 March 2020

The InsurTech Response to COVID-19

InsurTech companies and insurance technologists are confronting the challenges and business process changes required to keep operations running during this crisis. Some ...

20 March 2020

Zywave rolls out coronavirus resource center

Zywave, an insurtech provider, has launched a new online library for insurance professionals, which offers access to free compliance, HR, and employee content and ...

15 March 2020

How prepared are insurtechs against the threat of coronavirus?

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 ...

12 March 2020

Ecosystems and platforms: How insurers can turn vision into reality

Read the full article here.

28 February 2020

Why the Insurance Industry Needs to Rethink Its Value Proposition

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 ...

07 February 2020

February 2020

The Latest from Mayer Brown

Brexit
Brexit: The Way Forward
Across the Brexit Finish Line – And Now What?
Brexit: How Will It Affect My Business? The Implications ...

25 January 2020

Top 10 Insurtech Companies in 2020

Insurance giants have long hoped to bring more innovation into their business, but strict regulations and long-standing processes have hindered their progress. This ...

22 January 2020

Which Technologies Inject the Most Value into the Insurance Supply Chain?

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 ...

13 January 2020

New York Insurtech Group to Take on Des Moines

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 ...

31 December 2019

Impact InsurTech: How InsurTech is Transforming the Insurance Industry

As societies across the globe grapple with increased uncertainty, from climate change geopolitical risk, or the revolution of technological progress — insurance is ...

06 November 2019

Do Banks in Hong Kong Need an Insurance Intermediary Licence for Insurance Premium Financing and Referral Activities?

Banks have certain activities related to insurance, such as referrals, premium financing and trust arrangements. Under the new Section 64G of the Insurance Ordinance ...

30 October 2019

Innovation for In-House Attorneys: The Need to Educate Regulators on New Tech

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 ...

23 October 2019

Carriers’ InsurTech transactions hit record in Q3

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 ...

23 October 2019

Berkeley Burke Sounds Warning for Professional Indemnity Insurers

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 ...

22 October 2019

How Far Has Agency-Focused Technology Actually Come?

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 ...

21 October 2019

Reinsurers Take the Technology Lead

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. ...

18 October 2019

October 2019

The Latest from Mayer Brown
Regulatory Corner: California Attorney General Releases Proposed Regulations for the CCPA [Mayer Brown]
Cyber Resilience for Insurers - ...

04 October 2019

Insurers in Spotlight as FCA Plans Crackdown on Premiums

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 ...

01 October 2019

The Next Normal: The Future of Insurance – Faster, Easier Claims

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 ...

20 September 2019

Cyber Resilience for Insurers – GL20

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 ...

03 September 2019

Insurers Urged to Offer On-Demand Policies as InsurTech Funding Soars

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 ...

28 August 2019

Scandal Insurance Offers Carriers Fertile Ground For Growth

Bylined article by London Litigation & Dispute Resolution partner James Whitaker and associate Ali Jones on the rise of scandal insurance.

For more, visit ...

19 August 2019

August 2019

The Latest from Mayer Brown
Regulatory Corner: Highlights from the NAIC Meeting – Investment-Related Initiatives [Insurtech by Mayer Brown]
Global Financial Markets: ...

19 August 2019

@Insurance Snapshot: Regulatory Corner – Highlights from the NAIC Meeting: Investment-Related Initiatives

Investment-Related Initiatives from the NAIC Meeting of August 4, 2019
The National Association of Insurance Commissioners (“NAIC”) held its most recent national ...

01 August 2019

The Productivity Imperative in Insurance

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 ...

26 July 2019

New Auto Safety Technology Leaves Insurers in the Dark

Advanced driver assistance systems (ADAS) are increasingly being rolled out by automakers to help drivers avoid crashes. This leads to potential issues whether insurance ...

25 July 2019

China Announced “11 Measures” to Further Open Up Its Financial Sector

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 ...

24 July 2019

Insurance Agency Mergers Hit Near-Record in First Half 2019

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 ...

23 July 2019

Cloudy with a Chance of Automation: Automated Security Services Essential for Cloud Security

Enterprise cloud operations are expanding and maturing, but as with any natural maturation, inevitable growing pains must be endured and overcome.

As organizations ...

08 July 2019

July 2019

The Latest from Mayer Brown
Regulatory Corner: Acquiring Ownership – Considerations in Acquiring a “Controlling” Interest in a US Insurance Company [Insurtech by ...

08 July 2019

@Insurance Snapshot: Regulatory Corner – Acquiring Ownership: Considerations in Acquiring a “Controlling” Interest in a US Insurance Company

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 ...

30 June 2019

US GAO Report – Insurance Markets: Benefits and Challenges Presented by Innovative Uses of Technology

The innovative use of technology by insurance companies ("Insurtech") is growing and offers the potential to improve customer experiences while also lowering insurer ...

20 June 2019

How To Win In Insurance: Climbing The Power Curve

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 ...

31 May 2019

Future-Proofing Asian Insurance

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 ...

22 May 2019

Insurance as Unfunded Credit Protection

A year after the UK Prudential Regulation Authority (PRA) published its controversial Consultation Paper (CP) 6/18 "Credit risk mitigation: Eligibility of guarantees as ...

16 May 2019

New Codes of Conduct for Insurance Intermediaries are Coming Soon!

The new Section 90 of the Insurance Ordinance Cap. 41 (“Ordinance”) introduces statutory conduct requirements for licensed insurance agents and insurance brokers. ...

07 May 2019

Employees of Insurers Beware – Do You Need to be Licensed as an Insurance Intermediary in Hong Kong?

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 ...

01 May 2019

@Insurance Snapshot: Regulatory Corner – The California Consumer Privacy Act: Key Takeaways for Insurers and Insurance Regulators

The California Consumer Privacy Act (“CCPA”) will impact how insurers collect, store, sell and process the personal information of California consumers. Other US ...

09 April 2019

@Insurance Snapshot: Regulatory Corner – Corporate Governance Gaining Ground: An Update on the NAIC Corporate Governance Annual Disclosure Act

The past ten years have resulted in numerous changes to the corporate governance requirements for insurance companies and, as appropriate, their parent companies and ...

05 April 2019

Four Key Takeaways from FSN Capital’s Recent €50 Million Warranty & Indemnity Insurance Claim

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 ...

09 March 2019

Mayer Brown Strengthens Practice with New Hires

Partners Paul Chen, Kara Baysinger, Matt Gaul and Stephanie Duchene recently joined the firm, significantly strengthening our global insurance capabilities. ...

26 February 2019

What’s Next in Insurance? The Insurance Trends You Should be Watching in 2019

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 ...

13 February 2019

How IoT Innovators Can Transform The Insurance Industry

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 ...

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