mea’s Post

Growth in the use of advanced analytics continues to reshape the North American insurance industry, but insurers face hurdles https://lnkd.in/eFea44Ci, according to our latest P&C Insurance Advanced Analytics Survey Report. #AITech #InsurTech #AdvancedAnalytics #FutureOfInsurance #WTWPerspective

Getting to grips with the misuse of AI in insurance—Isabelle Santenac, EY global insurance leader, explores some of the key themes of EY’s latest ‘Global Insurance Outlook’ report, emphasizing the role that #trust and transparency play in unlocking growth. https://ow.ly/NJ1y30sznJz

I’ve always been surprised when horizontal solutions make a play for the insurance sector. If there was ever an industry that called for vertical, highly specialized solutions, it’s insurance. Marcus Ryu, one of the founders of Guidewire Software and now a partner at Battery Ventures, discusses this extensively with Logan Bartlett.* Marcus believes “the future of software is vertical.” Here’s why this is especially true for the insurance sector: 1️⃣ Our sector is highly regulated; 2️⃣ We have multiple stakeholders involved in the distribution and servicing of our products; and 3️⃣ We have nuanced and complex operations versus other sectors of the economy. Horizontal solutions like Salesforce for CRM or Stripe for payments fall short of addressing the specialized needs of the insurance industry. These solutions are too generalized and their core offerings are too far from fully solving the needs of our space cost-effectively. This gap presents enormous opportunities for startups with a deep understanding of the insurance space. Building solutions from the ground up with a knowledgeable technical team can create products that truly cater to our industry's unique demands. *Check out the quick clip to hear Marcus’s thoughts on this topic. I highly recommend listening to the entire show—link to the full show in the comments. It’s full of great lessons.

Insurers need to find a way to create more transparency internally, with the advanced tools, insights and data they at their disposal, to forge more productive relationships with brokers and clients externally. #insurance #insurtech #datainsights #claimsmanagement #operationaltransformation

Getting to grips with the misuse of AI in insurance—Isabelle Santenac, EY global insurance leader, explores some of the key themes of EY’s latest ‘Global Insurance Outlook’ report, emphasizing the role that #trust and transparency play in unlocking growth. https://ow.ly/z1ZF30szqml

Data... Yes, insurers have cart loads of it! However, to gain meaningful insights into customers, we need to join this with external data... be it health vitals from a smartwatch on driving behavior from a car manufacturer. Join us for a webinar tomorrow.

📊✨Discover how Convex Insurance is revolutionizing the industry with data democratization, delivering immense business value through insights. 🌐💡 Dive into our latest article to explore how we're leveraging technology to transform the insurance landscape: [https://okt.to/VtT2YO]

This clip looks at AI Success Stories in Insurance A Case Study with Gabriel Berardi (Data Insurance Expert) ⬇ https://bit.ly/3zSnWjH 🎙️ P.S. - Don't forget to give us a follow! #insurance #ArtificialIntelligence #DataScience

📊✨Discover how Convex Insurance is revolutionizing the industry with data democratization, delivering immense business value through insights. 🌐💡 Dive into our latest article to explore how we're leveraging technology to transform the insurance landscape: [https://okt.to/QuAFIN]

Insurance-Edge.Net have shined a spotlight on what Incomeadora's AI-powered technology can do for the insurance industry going forward. Read their article below!