Elliot M. Kass
Editor-at-LargeEditor-at-Large, Information Management
Editor-at-Large, Information Management
Once viewed as disruptive competitors and threats to established insurance companies, insurtech startups are increasingly seen as supporting players that can help incumbent insurers enter new markets and offer new services.
Unable to analyze or even catalog all the consumer data they collect, companies risk violating data privacy laws.
CEOs' enthusiasm for chief digital officers is fading, and they are looking to their CIOs to put new digital strategies in place.
Health insurers most cope with the uncertain future of Obamacare, while P&C carriers are pressed to meet new customer expectations, say analysts.
Software and services will predominate as technology budgets rise almost six percent.
But chief data officers find that with more respect comes greater responsibility.
Yet despite widespread awareness, the deficit of trained personnel is growing worse
Carriers are working to change the culture around underwriting to be more data-driven, says EY study.
The key number in question is an insurer’s PML, or probable maximum loss, due to a major weather event.
Company CTO has successfully replaced four legacy systems without failure, bucking industry trends.