Table of Contents
01 The Insurance Monthly Roundup
02 Insurtech Trends to watch out for in 2023
03 Top 4 Customer-First Trends in Life Insurance
04 Retaining Customers has become an absolute necessity for insurers
05 Predictive Experience in Insurance
“Creating the future customer experience on the foundations of data will need conviction and patience. However, continuous analysis and review of user behavior will result in long-term success and victory.”
CEO & Founder
The Insurance Monthly Roundup
- InsuranceDekho garners $36.5 million in its first external investment round.
The firm will use this funding for branding and strengthening its tech, product, and sales teams.
- UK-based Superscript baggs £45 million in series B funding round.
The fresh funding will be used to develop Superscript’s underwriting and broking expertise, expand its range of insurance products and services for international distribution, and build on its existing embedded partnership capabilities.
- South Carolina-based Johnson & Johnson acquires Statewide Insurance Corp.
This takeover will help the company to increase its footprint in Southwest.
“This acquisition by Johnson & Johnson, a leading specialist in related businesses, will accelerate the growth in revenue and profitability of our existing business units and provide greater professional development and career advancement opportunities for the employees at Statewide,” said Dan Braude, president, and COO of Statewide Insurance Corp.
- Propeller, a US-based firm, scooped $6.4M in seed funding.
This fresh infusion will help the company to accelerate its growth expand its product line and intensify its marketing and sales activities.
How to Win Customers through Smarter Form Filling?
Read the full blog, here.
Insurtech Trends to watch out for in 2023
For 2023, we believe that InsurTech will be used to supplement the rising concerns of inflation, arrested economic development, and heavily burdened pension schemes by catering to customers with greater attention to detail.
# Digitally Enabled CX
Insurance models in the present context have become bloated and complicated to the point where customers feel alienated. Customer needs are also converging. Simplifying the existing delivery model is key, and one such model that is likely to emerge is that of being a ‘distribution specialist’.
Insurtech firms will invest heavily in client-facing technology, and those that curate a delectable insurance discovery and delivery experience will have a huge leg-up over the