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The Netherlands Insurance Landscape in a Nutshell

‘What more could people want’ in a nation that already ranks highest in terms of press and economic freedom, human development, quality of life, and happiness? On another note, insurance companies and the government must have been doing something right — over 99.8% of the Dutch population is insured!  This might portray the Netherlands as […]

Can Distributed Ledgers Accelerate Insurance Workflows?

The years 2018-19 are the banner years for the US$ 5.17 trillion global insurance sector. However double-booking, counterfeiting, and premium diversions through unlicensed brokers still throb insurance companies. And one of the prime reasons for such unethical activities is the lack of tight coupling between stakeholders. A simple solution to these challenges is distributed ledgers- a […]

Why automate insurance agent onboarding?

Globally, over 90 percent of agents leave their organization to pursue opportunities outside the insurance industry. Thus making the agents onboarding process a continual recurrence for the insurance companies. Organizations, as well as agents, crave for easy onboarding instead of long trails of paperwork. Simplifying documentation and data entry right from the beginning can be a […]

Does Microinsurance work for India’s poor?

Microinsurance schemes target the betterment of the low-income segment whose daily income is less than ₹250 per person. The term “micro” refers to the small financial transactions generated by insurance policies. Since the introduction of the Microinsurance Regulation of 2005, 15 companies have registered more than 23 products with IRDA (Insurance Regulatory and Development Authority […]

Consumer-Centric Design in Insurance

Insurance instinctively feels old. It’s as though, the fast-moving parts of the digital age can’t seem to permeate its an archaic blueprint. Sure enough, it looks and feels that way too. One look at the spasm of choices to avail insurance online will leave you feeling dull and permanently bored. Consumers often don’t buy insurance, […]

Key Takeaways of 4th Insurance India Summit & Awards 2019

Innovation and Disruption are causing a paradigm shift in the Indian insurance industry today. The industry is expected to touch USD 280B by 2020. With the advent of InsurTech, Blockchain, Big Data, AI, IoT, AR amidst changing consumer preferences — there has been a holistic approach to insurance automation, challenging the traditional concepts making insurance […]

Is AI Disruption on the way for Kenya’s Insurance Space?

The earliest known reason for introducing insurance protection in Kenya, came during the time of the Colonial British — when they insured their farms and crops against loss, damage etc. Today, Kenya has 70% of the East African Insurance market (among Burundi, Uganda, Tanzania & Rwanda). Still, African Insurance is relatively nascent in terms of […]

Insurtechs are Thriving with Machine Learning. Here’s how.

Modern Insurance is only around 250 years old, about when the necessary statistical and mathematical tools to underwrite a business venture came to be. But statistical models, even the most advanced ones, need a very specific type of enriched data-diet for it to work optimally. Since then, the industry has always had to rely on […]

TOP 10 INNOVATIVE INSURANCE PRODUCTS OF 2019

We are witnessing the slow but sure, uberization of insurance. Insurers now more than ever, need big data-driven insights to assess risk, reduce claims, and create value for their customers. The industry is abuzz with a steady influx of new innovative products, deriving value in areas that were previously untapped. Processes like faster KYC verification […]

Adoption of Chatbots across Insurance

The global chatbot market is expected to reach USD$ 1.25B by 2025, and generate roughly $8B savings globally by 2022 itself. With chatbots disrupting a wide variety of industries already, the technology is becoming more popular in a variety of business use cases – especially within the insurance sector.   Chatbots are becoming more advanced […]

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