insurtech News

Business News: Nationwide and Notion, FileTrac and Hover, Octo and ICBC

Nationwide Teams With Notion for Smart Home Monitoring Nationwide has teamed up with Notion to offer smart home monitoring products to policyholders to guard against theft, fire and water damage. The Notion smart home monitoring system uses sensors with multiple …

Insurers, Tech Firms Struggle to Keep Pace with Cyber Risks

Despite progress, carriers are still falling short in how they approach cyber insurance and also how they cover events when they happen. How can this be? The unique makeup of cyber risks continues to hold them back, according to experts …

Insurance Innovation Will be Shaped by Regulators

It’s no secret: Innovators and regulators often clash. But both are needed to help enable a dynamic, consumer-friendly property/casualty industry in the future, insurance and InsurTech industry experts said recently. “There will be more innovation and empowerment of the consumer, …

Insuretech Speakers Blaze Trail From Michelin Guides to Smart Phones

LAS VEGAS — People who buy gasoline generally don’t care for the product or enjoy the experience of pumping gas: They just want to drive. Chris Colborn, chief experience officer for the Lippincott creative consulting firm, opened with that analogy …

New InsurTech Offering Brings Free Home Maintenance Visits with Price of Policy

Many insurance carriers offer their customers discounts on smart home products that protect homes from fire, water and theft. Some even contribute free devices to policyholders who are willing to take on do-it-yourself installation projects. A partnership announced Tuesday between …

‘Hyper-Local’ Forecaster, Instant Flood Claims Payer Selected for Lloyd’s Incubator

A company that delivers “hyper-local” weather forecasts and a firm that predicts emerging risks by mining research data were among 11 insurtechs selected by Lloyd’s of London to participate in a 10-week incubator program. Lloyd’s picked the participants on Thursday …

Insurer Innovation Comes Under the Rating Agency Microscope

Underway for some time now, the disruption of the insurance industry has moved into a new phase, following the announcement by A.M. Best that it may soon begin scoring insurers’ innovation efforts. Journalist Russ Banham spoke with ratings agencies, thought …

Lessons from Fintech Applied to Insurtech

I’ve seen this story before. Having worked in fintech since 2005, I witnessed the fintech wave forming, cresting, and eventually crashing into the financial ecosystem. If there is a fraternal twin to banking, it’s the insurance industry. Both industries are …

Hover Gaining Ground as Underwriting, Adjusting Tool

After securing $87 million from investors in three funding rounds, the insurtech startup Hover is hitting its stride in the customer-acquisition phase. The San Francisco-based firm this month announced deals with two independent adjusting companies. Executive Vice President Kevin Reilley …

As InsurTech Takes Over, Insurers Must Train the Humans that Remain

CHICAGO — As technology eliminates claims jobs through automation, insurers will need to build new skill sets for the employees who remain, speakers said during the second and final day of the Insurance Nexus Connected Claims Conference. Eric Brandt, managing …