Despite a rough market, MGA funding is booming. With a niche focus, digital-first approach, and expansion options, MGAs are a valuable part of the industry.
Travelers is using its cash flow to invest in technology. SaaS partnerships are key for carriers looking to upgrade their customer experience.
To compete in the digital age, insurers need to move away from legacy systems and shift to an API-driven architecture.
Embedded insurance and binding through APIs are the key drivers of Branch’s high valuation. It is good market validation of the tech capabilities that the Dais platform can give to any carrier, no-code required.
Auto insurance scores are used by carriers as a factor in personal auto underwriting. If they're taken away, carriers will need to find alternate data sources.
Lloyd's of London pledges to stop selling policies to fossil fuel companies...
GEICO is no longer selling insurance over the phone in 16 states. They say it's due to increasing repair costs, used car prices, and the frequency of accidents.
Only 30% of homeowners have taken the necessary steps to maintain proper insurance coverage.
Insurers are creating adaptable coverages in a variety of ways. On-demand coverage and usage-based insurance are two powerful examples driving insurer success.
Global commercial insurance prices are on the rise, with cyber being the most extreme. This is an example of the market shifting and is demanding product agility from insurers.