Michelle Bothe’s Post

What’s next in tech for insurance and how will this impact 2024? In this episode of Reinventing Insurance, Sean Ringsted, Chief Digital Business Officer at Chubb, joins Paul Ricard to share his perspectives on the future digital trends that will shape the insurance industry. As the world’s largest publicly traded P&C insurance company and the largest commercial insurer in the US, Chubb continues to innovate, integrate tech, and build relevant digital experiences for their customers. Sean discusses what’s top-of-mind for leaders, including Gen AI, embedded insurance, predict and prevent, global market trends, and how insurers can build effective partnerships. #Digital #OWDigital #InsurTech #OWInsurTech #ReinventingInsurance

Very interesting article by the folks at Cota Capital. "Today, the market is crying out for new insurtech companies that can bridge the gap between insurance carriers and brands. By harnessing cutting-edge technology, data analytics, and customer-centric approaches, these companies can facilitate the integration of insurance products " Cota Capital

Demystifying Insurance: Simplified Policy Wordings for Clarity and Confidence Change is an intrinsic part of our genetic makeup, yet embracing it can feel as challenging as scaling Mount Everest. Consider the digital revolution currently sweeping through the insurance sector as a prime example. However, this isn't merely a shift; it's a complete transformation of the customer experience, designed to be seamless, all-encompassing, and, above all, transparent. Let's delve into the often-overlooked heroes of this metamorphosis: policy wordings. These are more than just a collection of "words." They represent contracts that establish a bond between insurers and the insured. In the digital age, it's imperative that we reexamine, simplify, and demystify them for our customers, all while retaining their legal weight. That's the challenge we've undertaken! By driving direct and pioneering technological solutions for insurance distributors worldwide, we're wholeheartedly dedicated to a single, unwavering vision: crafting comprehensive policies with crystal-clear wording. It's a trust-building endeavor and the initial stride towards simplifying insurance. The path ahead may seem formidable, but every step we take brings us nearer to the summit. Let's embark on a journey to revolutionize the understanding and consumption of insurance, one step at a time! #ChangeManagement #DigitalRevolution #InsuranceTransformation #PolicyWordings #CustomerExperience #Innovation #TrustBuilding #SimplifyingInsurance #InsuranceIndustry #Adaptation

The insurance industry is on the verge of a makeover. With technology constantly evolving, traditional insurance companies are up against a wave of new challenges and changes. But hey, there’s a solution to stay in the game in this dynamic market. And it’s InsurTech 🚀. At Shaped Thoughts, we know our way around InsurTech, alright. In our latest article, our co-founder Mateusz C. shows just that. With it, he unveils a series of guides for traditional insurance companies to help them navigate this inevitable revolution and embrace the digital advancements of InsurTech 📈. Come along as Mateusz guides you through the intricacies of this transformative journey where traditional values fuse with the need for innovation in the insurance landscape. Whether you're already on your way to InsurTech or just curious about the evolving insurance landscape, this article is for you! ⬇ https://lnkd.in/d2seMBya 💡 There are more guides from this series coming your way soon, so stay tuned! #Insurance #InsurTech #Technology #DigitalTransformation #ShapedThoughts

Over the last 40 years, every successful insurance disruptor has been powered by seven key ingredients. Adrian Jones from Hudson Structured Capital Management Ltd. laid them out during his keynote at this year’s InsureTech Connect conference in Las Vegas. Let’s walk through them: 1. Experienced management - that understands how to operate (and where the blank space is) in a highly regulated industry. Verve ✔ 2. Dislocated market - fueled by established insurers exiting, leaving behind customers in need and unstable pricing. Verve - Auto insurance 2023-2024 ✔ Referenced by Adrian Jones as the most dislocated market he has seen in decades. 3. Favorable regulations - to create conditions that encourage new players to enter the space and operate in new ways. Verve - Fragmented state-driven auto insurance market, rising rate environments in auto insurance ✔ 4. Margin ownership – if you make an underwriting profit for partners, you will flourish in the chain. Verve - Providing winning and above market returns for insurance/reinsurance partners ✔ 5. Funding outside of VC - to hold onto long-term economics. Verve - Self funded to date ✔ 6. Time - to build a book of business based on profitable customers and allow returns to compound. Verve ✔ 7. Technology - to create efficiencies and gain an edge over competitors, without over indexing on expensive, ineffective tech. Verve - 20 APIs on a scalable platform with predictive analytics ✔ At VERVE, we're following this blueprint to build an insurance provider that will last. Go VERVE! #auto #autoinsurance #carinsurance #entrepreneur #insurance #insuranceagents #insurancecompany #insurancenews #insurtech #reinsurance #seguros #VERVE #GoVERVE For more on the ins and outs of insurance, follow me Dan Lazarek.

I’m excited to introduce our new glossary series at Elevate the Narrative! We're diving deep into essential terms in property and casualty insurance. From claimants to legacy systems, we’re covering it all! Join us as we redefine insurance education and innovation—one term at a time. Stay tuned—it’s going to be a looooooooong series! 😉 #insuranceindustry #workerscompensation #propertyandcasualty

Dive into the future of insurance at Insurtech Insights USA 2024, hosted at the Javits Center in New York City on June 5th and 6th! Join us for the session "Beyond the Buzzword - What's Next for Embedded Insurance?" where our expert panelists will explore the latest developments and future trajectory of this rapidly evolving distribution model. As the insurance industry transforms, it's crucial to critically evaluate trends that have captured initial attention and understand their long-term potential and impact. Meet our distinguished speakers on June 6th at the Red Stage: - Robert Bauer, Chief MGA Officer, bolt - David Embry, Chief Executive Officer, Mylo - Laura Taccini Olson, Chief Insurance Officer, Obie - Ralph Betesh, Co-Founder & CEO, Coverdash - Susan Winkler, Vice President & Executive Director, Connecticut Insurance & Financial Services (CT IFS) (Moderator) Don't miss this opportunity to gain insights from industry leaders on how embedded insurance is set to reshape the market and what lies ahead for this innovative distribution model. Curious to see what else is on the agenda? Discover the full lineup of sessions here: https://lnkd.in/eARRrRpA #ITI2024 #ITIUSA2024 #InsurtechInsights #Insurance #Insurtech #EmbeddedInsurance #Innovation #Distribution

🌟 Bridging the Global Insurance Gap with B4E Insurtech! 🌍💼 In a world of constant change, insurance must evolve to meet the needs of all. Yet, over 90% of the world remains uninsured. Enter B4E Insurtech, pioneering inclusivity and affordability with our groundbreaking No-Code Insurance Infrastructure platform! 💡 Innovation Unleashed: Break free from traditional molds with our No-Code platform. Rapidly design tailored insurance products to meet diverse needs and market demands. 🤝 Inclusivity as a Pillar: From microinsurance to personalized coverage options, our platform ensures everyone is protected, nurturing economic well-being and stability. 💰 Affordability & Accessibility: Create policies suited to different risk profiles and financial capabilities. Insurance becomes accessible to all, reducing exposure to financial risks. 🌍 Driving CSR Impact: Democratizing Insurtech levels the playing field, enabling companies of all sizes to thrive based on innovation and creativity. 🚀 Transforming the Insurance Landscape: Adapt swiftly with data-driven insights. Streamline operations and deliver cost-effective solutions for insurers and policyholders alike. 🔗To read more Link to the Blog: https://lnkd.in/ghsPBndJ Ready to join the transformation? Reach out to demo@b4einsurtech.com and let's create a world where insurance truly serves everyone. Together, we bridge the gap and secure a brighter future for all! #Insurtech #Insurancetechnology #digitalinsurance #insurance #reinsurance #digitaltransformation #InsuranceInnovation

"Insurance serves a higher purpose than simply protecting people and businesses against risk. Building humanized experiences connects insurers with customers on an emotional level and helps address the pressing and ongoing challenges facing the industry. Ecosystems are the bridge that helps insurers get there. On the other side of the bridge, it’s a future characterized by a connected insurance value chain, nimbler and more efficient operations and humanized experiences supported by agile, intelligent and evergreen ecosystems." Michael Jackowski, CEO at Duck Creek Technologies on the importance of insurtechs taking an ecosystem approach with Forbes. https://okt.to/XBDsSf #insuranceindustrytrends #propertyandcasualty #insurtech

Embrace the unpredictable future with confidence. 🌍 Insurance industry leaders are tasked with the formidable job of fostering innovation amidst growing volatility and uncertainty. As your reliable guide, we're here to assist you in reimagining your path to success, no matter the challenges. Across the world, we empower insurance companies to leverage cutting-edge digital tools, boost customer loyalty, and transform data into a powerful asset. 🚀 Our team of insurance consultants supports all types of insurers – whether it's property and casualty, life, health, or reinsurers – in becoming more agile and responsive to shifting market dynamics. 🛡️📈 ➞ Have you hired a consultant for any of your big projects? How did it work for you? What about a project where you didn’t use a consultant? Was it successful, or do you wish you had hired someone? 👉 Talk to us: info@cannsult.org 👉 Explore more: https://lnkd.in/dhqpBDPT #Cannsult #BusinessDevelopment #BusinessDevelopmentConsulting #InsuranceInnovation #FutureReadyLeaders #DigitalTransformation