We believe that new digital technologies are not only critical in repositioning the industry along customer-centric models but also offer insurance carriers the opportunity to increase their social and economic impact and reboot themselves as a force for good in the communities in which they operate. Just like entry barriers have been eroded due to the advancements in technology, resulting in all sorts of new ideas and concepts introduced in a cost-efficient fashion by new entrants, we also notice that new technologies are taking away the hurdles that previously existed to play that bigger part.
There are already various areas where insurtech innovations are applying such new technologies resulting in substantial social and economic impact. For example:
- Improve patient care while simultaneously decreasing health costs in an ageing population with connected health devices and advanced algorithms
- Financial inclusion: micro-insurance solutions that give access to protection to hundreds of millions of low income families that were previously considered uninsurable.
- Offset the damage caused by natural disasters such as hurricanes and floods with new technologies.
We’ve composed a nice mix of show&tell videos and brief interviews with insurtechs that lead the way.
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