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technology – insurtech
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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 ...

07 December 2020

The SPAC Pop Is Now A Thing: More Unicorns Getting On Board

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 ...

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

Partnerships or Acquisitions? How Carriers Can Speed Their Digital Evolutions

Industry executives highlight a number of InsurTechs that carriers can learn from to accelerate their digital transformation strategies across various businesses and ...

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 ...

13 November 2020

How insurtechs can work with regulators to speed innovation

Insurance regulators are charged with ensuring a well-functioning market and that consumers are protected. This balanced approach has functioned well, yielding ...

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 ...

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 ...

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 ...

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 ...

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 ...

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

Pandemic Insurance Pressures Will Keep Insurtech Health

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 ...

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 ...

15 June 2020

US to Unveil Voluntary Self-Driving Testing Data-Sharing Effort

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 ...

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

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 ...

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 ...

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

6 InsurTechs Helping Gig Economy Workers During the Pandemic

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, ...

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

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

Willis Towers Watson launches new COVID-19 tracking feature

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, ...

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 ...

19 March 2020

Future InsurTech Venture Financings Could Face a Coronavirus Slowdown

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 ...

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 ...

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 ...

30 January 2020

Electronic Discovery & Information Governance – Tip of the Month: 2019 Tips of the Month – A Compilation

Notable developments in the e-discovery and information governance space in 2019 included the lead-up to the California Consumer Privacy Act, which came into effect ...

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 ...

23 January 2020

Brexit: How Will It Affect My Business? The Implications for Data Privacy, Intellectual Property and Information Technology Matters

Brexit is finally here. The United Kingdom leaves the European Union on 31 January 2020. The EU and the UK will now enter a transition period which is scheduled to last ...

22 January 2020

Artificial Intelligence: IP Challenges of AI and the Current WIPO Consultation on AI

Ongoing public consultations from the World Intellectual Property Organisation and others demonstrate a focus by IP policymakers on better understanding issues posed by ...

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 ...

15 January 2020

White House Proposes Binding AI Principles for Regulators

On January 7, 2020, the White House issued a draft memorandum setting forth proposed principles for agencies to follow when regulating and taking non-regulatory actions ...

13 January 2020

The White House and DOT Release AV 4.0

On January 8. 2020, the White House and the US Department of Transportation (“DOT”) released new guidance, Ensuring American Leadership in Automated Vehicle ...

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 ...

07 January 2020

White House Proposes Regulatory Principles to Govern AI Use

The White House on Tuesday, January 7 proposed regulatory principles to govern the development and use of artificial intelligence (AI) aimed at limiting authorities’ ...

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 ...

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 ...

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 - ...

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 ...

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 ...

19 August 2019

Global AI insurance Premiums to Exceed $20B by 2024

New data from research forecasts immense growth in artificial intelligence ("AI") underwritten insurance premiums.

The study predicts that the value of AI ...

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 ...

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 ...

23 July 2019

Increased Water Damage Claims Fuel New Claims Technology

The latest claims technologies accelerate the mitigation and estimating process and improve the customer experience.

New technology allows inspectors to leave 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 ...

18 July 2019

Insurtech Collaborations in the US: Key Regulatory and Contractual Issues

The insurtech revolution is turning out to be far less about disruption than about collaboration—with the insurtech startups bringing improved analytics and user ...

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 ...

02 July 2019

Electric Scooters Are Igniting New Laws, Liability Concerns and Even “Scooter Rage”

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 ...

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 ...

26 June 2019

How Traditional Insurance Players Can Stay Ahead As The Technology Pendulum Swings

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 ...

26 June 2019

Smart Licensing of Artificial Intelligence: What Licensing Issues Are Unique to AI?

Artificial intelligence (AI) is the newest golden child in technology. While definitions abound, we will define artificial intelligence as "the theory and development of ...

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 ...

11 June 2019

How Insurers Are Digitizing Claims with Apps, Photos, Videos, E-Payments and More

Traditional insurers are utilizing technology to improve customer experiences and business functions in greater numbers. Allstate reports that 60% of claims are handled ...

10 June 2019

June 2019

The Latest from Mayer Brown
Regulatory Corner: Breaking Down Blockchain - Implications of Blockchain Technology for the Insurance Industry [Insurtech by Mayer ...

10 May 2019

May 2019

The Latest from Mayer Brown
Regulatory Corner: The California Consumer Privacy Act - Key Takeaways for Insurers and Insurance Regulators [Insurtech by Mayer ...

03 May 2019

Fintech Alliances and Partnerships Temper M&A: Analysis

Commercial partnerships between fintech players and banks, as well as being struck purely between fintechs, has in some quarters shifted slight attention from mergers ...

01 May 2019

Blockchain for Business

Interest in blockchain has grown dramatically, with a rapid increase in investment and engagement.  Over the course of 2017, numerous companies in financial, ...

12 April 2019

Who Owns Model Risk in an AI World?

Complicated computerized models and quantitative analyses are a fundamental mainstay in the financial services industry, from quantitative investment asset managers who ...

11 April 2019

Blockchain’s Possibilities for Contracting: Tech Talks

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 ...

10 April 2019

April 2019

The Latest from Mayer Brown
Regulatory Corner: Corporate Governance Gaining Ground – An Update on the NAIC Corporate Governance Annual Disclosure Act [Insurtech by ...

07 April 2019

Amazon Clears Path for Alexa’s Use as Health Service

Amazon.com Inc. is positioning Alexa, its artificial-intelligence assistant, to track consumers’ prescriptions and relay personal health information, in a bid to ...

13 March 2019

FTC Announces Technology Task Force with Broad Investigative and Enforcement Powers

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 ...

12 March 2019

March 2019

The Latest from Mayer Brown
Global Insurance Industry Year in Review 2018 [Mayer Brown Publication]
Regulatory Corner: An Unconventional Circular Letter - NYDFS ...

06 March 2019

Data Privacy and Cybersecurity Issues in M&A Transactions

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 ...

04 February 2019

Technology’s Impact on P&C Insurance in 2019

As consumers are looking for a more personalized experience, especially when purchasing something as important as Property and Casualty ("P&C") insurance, the ...

08 January 2019

Five Tech Trends That Will Define the Future of Insurance

With technology initiating dramatic changes that are reshaping the insurance industry, the forward-looking insurers are taking action and making investments that will ...

13 November 2017

Guidewire Announces 2017.2 Release Of InsurancePlatform

Guidewire had announced the launch of its InsurancePlatform2017.2, the platform aims to enable "smarter, faster and more connected insurance operations" through a ...

04 August 2017

How Can Insurers Define the Digital Future?

The 2017 Accenture Technology Vision for Insurance report highlights the "tremendous opportunity" for insurers who can tap into uncharted waters of technology and ...

26 June 2017

Technology Will Channel New Lines of Risk to The Capital Markets

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 ...

28 February 2019

Global Insurance Industry Year in Review 2018

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, ...

22 February 2019

President Trump Launches AI Strategy for Federal Government

On February 11, 2019, President Trump signed an “Executive Order on Maintaining American Leadership in Artificial Intelligence” (the “Order”) and, in doing so, ...

01 January 2019

Top Tips: Preparing Technology Arrangements for Brexit

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 ...

01 December 2018

Asia IP & TMT: Quarterly Review

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 ...

07 November 2018

Technology, Investment and Security: The Modernization of CFIUS – What Does it Mean for the Global Investor?

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 ...

01 November 2018

Open wide! The HKMA’s Open API Framework

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, ...

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