There is no guesswork in the world of business. A staggering 70% of businesses fail within 10 years due to lack of preparation, insufficient market demand or an inappropriate business model. There are areas in life where “winging it” is appropriate.
MELBOURNE – 17 SEPTEMBER 2021 – Those insurance industry disruptors known as insurtechs are more than happy to coexist with brokers.
A decade ago, many brokers probably felt threatened by the first wave of insurtechs. These young firms with their advanced digitisation plans presented brokers with the prospect of losing many revenue streams. However, at a recent insurtech roundtable, current industry leaders said the future of brokers is assured.
Insurance consumers are evolving, prompting new challenges for the industry.
MELBOURNE – 12 SEPTEMBER 2021 – Connected insurance, also known as real-time, organic or on-demand insurance, is the key to shaping the future of the industry, says a Kanopi Round Table panel.
Many technology sectors turned heads during the pandemic as venture capitalism soared. Venture funding for health tech innovation doubled to $14 billion in 2020. Insurtech funding reached an all-time high of 2.55 billion USD.
Over the past few years, the insurance technology sector has built serious momentum. New players are on the scene and they’ve attracted more funding to insurtech in 2021 than ever before. And it makes sense – changing customer behaviours and expectations mean the market is crying out for personalised insurance solutions.