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 ...
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.
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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 ...
The creation of US insurtech companies that both sell and underwrite policies (a.k.a. full-stack) accelerated in 2020, aided by an abundance of venture capital, ...
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 ...
The start of the coronavirus pandemic quieted insurance deal activity across the globe during the second quarter of 2020, but recovered fully during the second half of ...
2020 marked the Mayer Brown Insurance Industry Forum’s seventh year bringing together industry leaders, insurance regulators and leading bankers and advisors to the ...
Until recently, taking a unicorn public pretty much always involved a traditional initial public offering or direct listing. But in recent quarters, a once-obscure ...
Evolving customer trends and rising competition from an array of digital players are pushing insurers to digitize quickly. Customers are increasingly turning to digital ...
Industry executives highlight a number of InsurTechs that carriers can learn from to accelerate their digital transformation strategies across various businesses and ...
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 ...
Insurance regulators are charged with ensuring a well-functioning market and that consumers are protected. This balanced approach has functioned well, yielding ...
Mayer Brown partner Stephanie Duchene served as a panelist on the “Insurtech Innovation and its Effects on Insurance/Reinsurance” webinar on November 10, 2020 ...
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 ...
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 ...
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 ...
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 ...
Lemonade, the insurance company powered by artificial intelligence and behavioral economics, today launched pet health insurance. Now, pet parents in 33 US states can ...
Like every other market, insurtech will feel the effects of the COVID-19 pandemic in the coming years. But unlike many sectors, the global health crisis may slow the ...
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 ...
US auto safety regulators are set to will unveil a voluntary effort to collect and make available nationwide data on existing autonomous vehicle testing. States have a ...
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 ...
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 ...
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 ...
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 ...
As the COVID-19 crisis unfolds, many startups and digital-only insurance providers are finding ways to support customers as well as non-customers during the crisis, ...
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 ...
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 ...
Willis Towers Watson has introduced a new risk-and-analytics feature that enables risk managers to assess their coronavirus (COVID-19) property exposure in real-time, ...
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 ...
While InsurTech venture capital financings already in the pipeline appear to be going forward, the likelihood of future deals could be uncertain in light of the ...
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 ...
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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 ...
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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 ...
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The White House on Tuesday, January 7 proposed regulatory principles to govern the development and use of artificial intelligence (AI) aimed at limiting authorities’ ...
As societies across the globe grapple with increased uncertainty, from climate change geopolitical risk, or the revolution of technological progress — insurance is ...
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 ...
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 - ...
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 ...
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 ...
New data from research forecasts immense growth in artificial intelligence ("AI") underwritten insurance premiums.
The study predicts that the value of AI ...
Advanced driver assistance systems (ADAS) are increasingly being rolled out by automakers to help drivers avoid crashes. This leads to potential issues whether insurance ...
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 claims technologies accelerate the mitigation and estimating process and improve the customer experience.
New technology allows inspectors to leave the ...
The insurtech revolution is turning out to be far less about disruption than about collaboration—with the insurtech startups bringing improved analytics and user ...
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Last year, e-scooters zoomed past station-based rental bikes as the most popular form of shared "micro-mobility" transportation, with rental companies like Lime and Bird ...
The innovative use of technology by insurance companies ("Insurtech") is growing and offers the potential to improve customer experiences while also lowering insurer ...
The investment in insurtechs smashed records in Q1 2019. Outside of the investments, there has been several factors that continues to drive innovation in the insurance ...
Artificial intelligence (AI) is the newest golden child in technology. While definitions abound, we will define artificial intelligence as "the theory and development of ...
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 ...
Traditional insurers are utilizing technology to improve customer experiences and business functions in greater numbers. Allstate reports that 60% of claims are handled ...
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Complicated computerized models and quantitative analyses are a fundamental mainstay in the financial services industry, from quantitative investment asset managers who ...
In today's interconnected, “always-on” environment, it is easy to forget how dependent we all are on records and, more importantly, on the people we trust to make ...
The Latest from Mayer Brown Regulatory Corner: Corporate Governance Gaining Ground – An Update on the NAIC Corporate Governance Annual Disclosure Act [Insurtech by ...
Amazon.com Inc. is positioning Alexa, its artificial-intelligence assistant, to track consumers’ prescriptions and relay personal health information, in a bid to ...
On February 26, 2019, the Federal Trade Commission (FTC) announced the formation of the Technology Task Force, which will target any anticompetitive conduct in the ...
The Latest from Mayer Brown Global Insurance Industry Year in Review 2018 [Mayer Brown Publication] Regulatory Corner: An Unconventional Circular Letter - NYDFS ...
In this third episode of Mayer Brown's Tech Talks, the Firm's partners Christian W. Fabian, Stephen Lilley and Lei Shein, focus on data privacy and cybersecurity issues ...
As consumers are looking for a more personalized experience, especially when purchasing something as important as Property and Casualty ("P&C") insurance, the ...
With technology initiating dramatic changes that are reshaping the insurance industry, the forward-looking insurers are taking action and making investments that will ...
Guidewire had announced the launch of its InsurancePlatform2017.2, the platform aims to enable "smarter, faster and more connected insurance operations" through a ...
The 2017 Accenture Technology Vision for Insurance report highlights the "tremendous opportunity" for insurers who can tap into uncharted waters of technology and ...
Advances in technology will likely enable the trading and placement of new classes of risk more directly with alternative capital and ILS investors, a shift that could ...
In this report, Mayer Brown's Global Insurance Industry Group discuss developments and trends in insurance industry transactions in the past year in North America, ...
On February 11, 2019, President Trump signed an “Executive Order on Maintaining American Leadership in Artificial Intelligence” (the “Order”) and, in doing so, ...
The ultimate form of the UK's exit from the European Union remains a hotly debated topic. Unless some form of extension of the period of notice served by the UK is ...
In the 2018 Q4 edition of the Asia Intellectual Property (IP) and Technology, Media and Telecommunications (TMT) Newsletter, Mayer Brown's team covers numerous areas ...
On August 13, 2018, President Trump signed into law the Foreign Investment Risk Review Modernization Act, or FIRRMA. This legislation was designed to enhance US national ...
The Hong Kong Monetary Authority (HKMA)’s Open Application Programming Interface Framework for the Banking Sector (Open API Framework), was issued on July 18, 2018, ...
