Insurance technology

Today’s clients are looking for financial guidance and product recommendations that account for their entire financial lives. Unfortunately, because of legacy technology in place, most insurance advisors can’t credibly weigh in on the whole picture.

Arity, a mobility data and analytics company founded by Allstate in 2016, has made its nearly 100 million driving risk scores exclusively available on Transparent.ly, a platform for auto insurance marketers to leverage leads and target shoppers.

Nationwide’s Sarah Jacobs, vice president of personal lines product development, spoke with Digital Insurance about a recent survey on smart home devices and the future of IoT at Nationwide.

Keynova Group, a financial services intelligence firm specializing in benchmark insights, released its 2021 Small Commercial Insurance Scorecard report, which evaluates the small commercial insurance digital capabilities of the 10 largest U.S. carriers.

About four in 10 executives cited technology as their company’s greatest challenge, twice as many as in 2019, according to a new survey from LIMRA and Boston Consulting Group.

Insurance blockchain working group The Institutes RiskStream Collaborative has partnered with Trustlayer to build out an insurance verification proof of concept.

Deciding which transformation initiatives to tackle first should involve a careful examination of the dysfunction, importance and level of change resistance expected among stakeholders of any process that may be impacted.

In other news: Algorithm calculates number of good health years; Hiro rebrands to Locket; Alliant launches diversity initiative.

Globally, 72% of respondents said they would share some personal data with their insurer but when broken down by gender, only 68% of women and 75% of men said they would share.

Haven Technologies will make the platform behind MassMutal’s Haven Life available as a software-as-a-service insurtech.

Many insurers report no changes to their plans, with some reshaping and a few accelerating, but very few pausing or retrenching.

New, visual development platforms are accelerating app delivery to support digital business transformation.

The insurance industry in the midst of major structural changes, led by those willing to take risks and go against the inertia of a venerable sector.

The firm has improved claims processing, premium production, fraud management and other crucial operations, and strengthened relationships with agencies and policyholders, says CIO.

The commercial insurance broker's pilot, in partnership with IBM and ACORD, is the second such initiative in the P&C sector.

CIO Jamie Roser credits the carrier’s quick expansion over its five-year lifespan as a company to its digital strategy centered on a cloud-based core system.

While carriers may not be able to replicate the exact science, they should understand that organizational and cultural shifts can both attract the right talent and encourage the emergence of internal ideas.

Many company leaders feel prepared for the upheaval that emerging technologies represent, but few are ready for the operational, competitive, cultural and security shifts already taking place,