It seems there are more insurtech predictions than ever for P&C insurance in the new year. Some of my favorites include; rise of the ecosystems, embedded insurance (in just about every product and service) and big strides for AI and telematics.
Ever since the insurtech wave began, massive disruption has been anticipated. Several startups have done just that.
Some have enabled efficiency gains through automation. Others have made the customer experience easier and faster, from shop to quote to bind and everything in-between.
Usage-based insurance solutions are changing how insurance is consumed through pricing based on usage amounts or personalized degree of risk.
All sorts of new companies are simplifying insurance policy language or organizing information in one place. Many intend to create insurance-as-a-service, or proactive insurance.