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Ellen Carney, principal analyst of application development and delivery at Forrester Research, discussing the firm's latest study that surveyed 200 carriers about digitization of the life insurance customer experience, said such initiatives are no longer just projects, but a mindset and a discipline. Carriers are looking at how to prepare for the future by setting objectives that will build resilience while making sure they meet their metrics.
Embroker, a B2B digital platform for business insurance, announced the launch of three new insurance products, for cannabis dispensaries, venture capital firms and key business leaders. The platform aims to remove needless complexity in legal paperwork, chief revenue officer Ben Jennings said, which appeals to cannabis dispensaries, since their business is growing at a fast pace and needs to cover all possible risks.
Speaking on a panel about the growing role of geospatial and aerial imagery for assessing risk for insurance, Karl Meredith, manager of IoT & digital assessment at FM Global, said the imagery has come a long way since three years ago. "What was missing was how rapidly we can collect imagery after an event." FM Global shifted its imagery collection from satellite images to fixed-wing aerial imagery because fixed-wing has better resolution than satellite imagery, according to Meredith.
Federico Spagnoli, LatAm regional president at Prudential Financial, speaking in a discussion about embedded insurance, said the firm's partnership with Brazilian insurer Mercado Libre, announced in July, required Prudential to speed up its claims payment and risk assessment processes to adapt to the norms of the Brazilian market.
Michael Shashoua
Senior Editor, Digital Insurance
Digital Transformation Insurtech Life insurance Insurance technology