Want to find out more about the evolving insurtech space? Join us tomorrow for the opening of FinTech & InsurTech LIVE - a three-day event covering all the latest trends and innovations driving the industry forward. Here are three areas currently trending in the insurtech space.
As the insurtech sector develops, competition is hotting up. Individual companies are finding increasingly ingenious ways to differentiate their offerings so they stand out from the crowds. From cover that can be arranged in seconds to telematics policies that can issue claims at the roadside, and even dispatch roadside assistance, it certainly is a buyers market. Available cover is also becoming far more flexible, and available at lots of different levels, giving the customer an incredible amount of choice.
Regulation and innovation
There is government recognition globally that the insurtech sector is ‘one to watch’. This means that great support for new ventures is becoming available which is coupled with regulatory key enablers. For example, according to the BCG Insurtech Report on insurtechs in India, in a recent regulatory sandbox, more than 22 insurers submitted more than 170 proposals. Additionally, the regulator has introduced key enablers like allowing life and general insurers to conduct KYC through a video-based identification process and permitting insurers to offer rewards for low-risk behaviour.
New technology partnerships
As the potential of AI, ML and automation have been realised, alongside growing cloud services, big data is providing small operatives with real time, razor sharp insights that can help them grow and scale their businesses. Technology companies are also developing their B2B services and providing enless partnership opportunities for growing and expanding insurtechs. Incumbents are also getting in on the act, opening up digital operational arms that don’t require immediate and highly expensive core changes because they have been designed with the new technologies and agile systems in mind.
Want to find out more about insurtech trends?
The FinTech & InsurTech Live event opens tomorrow in London's Tobacco Docks. The event is a hybrid combination of live and in-person guests and speakers. Learn from respected FinTech and InsurTech leaders at this unmissable hybrid conference. Take the opportunity to expand your network among influential executives and gather insights to feed back into your own organisation.
35% of the FinTech & InsurTech Live community are C-Level, VPs or Directors. So you will rub (socially distanced or virtual) shoulders with the most powerful people in the industry at the Tobacco Dock in London or worldwide via the exclusive live stream.
The events will include:
- Keynote addresses from respected industry leaders
- Dynamic live roundtables (inc. Q&A)
- Fireside discussions
- Inspirational Speakers & Presentations
- Extensive networking opportunities
From global giants to innovative startups, the 3-day show is an essential deep dive into the industry alongside the chance to strategically analyse issues impacting the future of FinTech & InsurTech.