We estimate that the world is at least one-third underinsured, and simple products like this are examples of how to fix that problem. The clever use of data makes this a simple and customer-friendly product that will likely result in more travel insurance policies for Chubb.

Customer experience is everything in claims, and using AI to make the process easier and faster for the customer will lead to improvements in overall customer satisfaction.

Traditional insurance has many issues, and the money flowing into Insurtechs is evidence of the huge growth possible for companies that solve those issues.

Technology isn’t the only tool available when we look at complex problems, such as personal lines, and behavioral economics is another way we can help solve industry problems.

AI is going to transform the way we work in the insurance industry, so this week we are focusing on a recent report by Deloitte about AI and Insurance. Below, we’ve summarized a few key ideas and provided some insights.

Insurance right now can be difficult to sell, and there are a lot of different approaches to fixing this problem. It’s exciting to see all of the energy around MGAs, as they are one of the ways we can make insurance more accessible.

This is the biggest quarter for investment in Insurtech we’ve ever seen. There’s a big need for modernization in the insurance industry and a massive opportunity for those who do it well.

Covid exposed just how unprepared most construction companies were for a big disruption. Now that they’ve made changes to their insurance coverage, many in the industry are worried about having the right insurance for their business.

One of the trends that is likely to drive insurance growth is the increase in niche products; rebranding is one way that established insurers can get in on that growth.