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And traditional insurers should adapt to the larger addressable market.

As this happens and expense ratios are driven down, only those carriers which can fully utilize analytics and data-augmented decision making in their underwriting process will be able to price effectively in the market.

Also: Cincinnati Financial, Amerilife.

Customers of either company can save money on premiums by bundling with the other.

Insurance providers agree that technology has become an extremely valuable part of employees’ lives.

Chief service officer Jamie Lee says insurance needs diverse views to create the best overall customer experience.

Launched by former DriveFactor exec Steve McKay, company is tackling telematics-based insurance for commercial customers.

Given how driving patterns changed so significantly during the pandemic, there is an opportunity for carriers to further educate consumers about the benefits of telematics during the claims process.

COVID-19 has shown us that technology can rapidly evolve to meet customer needs, in areas from contactless payments to digital banking to mobile wallets. However, we still see great disparities when it comes to the use of contactless and digital banking by low- to moderate-income (LMI) workers. The question is, will emerging tech in the post-COVID economy provide an opportunity to include new people in the financial system-- or leave them even further behind?

Nearly one year after the onset of the pandemic, not only has interest remain elevated, but adoption has increased two-fold.

Also: New data hire at Amerilife, European expansion at Insurify.

In partnership with Allianz Life and Securian Financial, five insurtech startups will participate in a three month accelerator program.

A selection of notable investments in insurance startups.

The company also hired a CISO, data and analytics director, and several VP-level employees.

Insurers could see retention rates drop if they neglect to defend existing revenues through product and distribution innovation.

The major increases included both mega-rounds and an influx of early-stage companies.

AI systems that aggregate data from actual anonymized claims, bills and other data could be trained to identify and update records, managing identities persistently and in real time.

Willard Lee joined the company in 2003.

High-net-worth insurtech operates in 18 states.

New technologies are expected to fundamentally change how insurance is distributed, but alongside this redefinition of roles comes an accompanying talent crisis.