Insurance technology

Most consumers expect their insurance company to be able to interact with them through all digital channels.

Also: Liberty Mutual joins climate innovation alliance; Hagerty to acquire Broad Arrow Group.

Digital Insurance spoke with Sherriff Balogun, head of platform transformation at MassMutual.

The insurtech has launched technology that proactively detects and mitigates boating risks.

Startup pursues mission of accurately underwriting life insurance, getting more of the public to get policies.

Geico ranked second and State Farm third, in the Keynova Group Online Insurance Scorecard for Q2 2022.

Drivers who dropped coverage or were underinsured can get more choices of carriers and levels of coverage.

Technology plays a key role in meeting customers where they are and capitalizing on market opportunities.

Success in analytics isn't the only thing separating digitized competitors from the pack.

Digital Insurance spoke with Brian Poppe, senior vice president for technology modernization at Mutual of Omaha.

A digital solutions insurtech with an API platform, Savvy, that compares insurance policies.

The goal should be to expand payment types and access options to give policyholders greater control of their experience.

Keynova Group released its Q1 2022 Mobile Insurance Scorecard, which evaluates the mobile website and mobile app offerings from the 12 largest U.S. property and casualty firms.

As property and casualty insurance carriers look to reduce growing loss ratios in 2022, many have shifted their focus away from growing their customer bases and toward increasing their profits. But for carrier marketers, the path to efficient customer acquisition isn’t as simple as merely cutting budgets.

Matheus Riolfi and Jerome Selles met while working at Turo, a car-sharing marketplace, where they both did work on the global expansion of its insurance program. During that time, the two saw an opportunity to start their own insurtech, Tint.

The majority of Trov’s employees will join Travelers in its personal insurance segment. The financial terms of the transaction weren’t disclosed.

The demand for no-medical exam life insurance has grown in the last year, likely related to the COVID-19 pandemic. From October to December 2021, about 56% of applications submitted through Policygenius were for no-medical exam policies compared to January to March 2021, which was only 26%.

McKeel Hagerty’s parents were into wooden boats and saw an unmet need to underwrite them. Hagerty, however, has been a car nut from day one. When the family’s marine insurance business finally began to offer auto policies in 1991, he saw a chance to join the fold and, along with his sisters, Tammy and Kim, stomp on the pedal.

The Singapore-based company is working with financial advisers and a formal funding round may kick off later this year, the people said, asking not to be identified because the information is private. It plans to use the proceeds for expansion, they said.

As we look ahead, evolving technologies are presenting home and auto owners with new potential risks. Hacking and ransomware, once confined to computer networks, may become an endemic cyber vulnerability for our increasingly connected vehicles and “smart home” devices. Yet many of these same technologies could create new data sources and risk mitigation options for personal lines insurers.