InsurTechSights - Insights on InsurTech

Last week we heard about Travelers acquiring Trōv’s digitals assets , this week Hub International partnered with Bold Penguin to acquire Insurion Holdings to build a stronger market position. Also announced this week, Aon has acquired Tyche , a technology platform for risk and capital modeling. Aon will integrate the Tyche capabilities into its broader client dashboard In other news last week, Lemonade and Root, companies that have set out to disrupt the insurance industry, published their insurance figures, which were a disappointment for many. As commented by on one of the many posts on the matter, it seems that underwriting, even with AI is not so easy after all. These InsurTech announcements caused quite some discussions around the community that went as far as asking if we should feel betrayed by the Insurtechs. What happens when there is disruption The photographic industry went through two disruptive changes in a relatively in under a decade. With digital cameras becoming widel...

Embedded insurance is all the talk at them moment. Projected to take over a substantial amount of the market in the coming years , technology plays an important role in this process. However, the concept is barely new, for years we have been buying holiday services, flights or accommodations, and getting travel and cancellation insurance as part of that process. We get extended guarantees on white goods, and our phones are covered for loss and damage. Insurers do the same embedding coverages from other insurers their own insurance products, for example the legal assistance, included in car insurance, can be from a different insurer than your main insurer. Typically they would call that a 'rider'. But essentially, its the same. Lease companies have been bundling the car, loan, maintenance services and insurance, all into one package, giving a one-stop-shop experience. Insurance - Not an embedded desire People don't like dealing with insurance, it's a burden, the products...

This is a repost of my article on LinkedIn a week ago I last wrote about InsurTech in Israel almost 5 years ago . A lot has happened since then. Several Israeli InsurTechs; Lemonade, Hippo and At-Bay, have become unicorns, whilst others like Sapiens (SPNS) and Earnix have continued to grow into global leaders and there is a constant flow of new InsurTech companies. Acceleration all round the insurance eco-system The Israeli InsurTechs are using top local skills and cutting-edge technology to cover every aspect of insurance. From global systems and distribution verticals to pinpoint solutions. No line of business is being missed; general insurance (P&C), health and life, motor, home, cyber, business insurance and more. Brokers and digital channels, claims, underwriting, automation, no process missed either. Accelerating InsurTech Insurtech accelerators are suddenly everywhere, even in a tiny country like Israel, there are plenty of them. The accelerators are collaborations of t...