Chuck Gomez on the renewed interest in the MGA business model.
Jeff Goldberg on how insurers are working with InsureTechs.
Ken Toffolo on voiceprint technology in contact centers.
April 13, 2018 by Ken Toffolo
April 12, 2018 by Jeff Goldberg
I was struck by a recent article that called out the unstructured approach to engaging with InsureTech that a top-tier P/C insurer is taking. The company is making investments into emerging technology and looking for ways to work with InsureTechs. Areas of interest for the company include blockchain, AI, and drones. The article contained this line:
“The insurer has no established structure, such as an innovation lab or accelerator, to communicate with startups. Instead, it opts to work with and invest in industry newcomers on an ad hoc basis.”
April 12, 2018 by chuck gomez
A managing general agency (MGA) traditionally provides focused marketing, underwriting, and binding insurance services on behalf of an insurance carrier, while that carrier provides the insurance paper for which those specialized risks are written. MGAs are not new to the market, but there is renewed interest in them and in deals with them by carriers and investors. MGAs can provide carriers with additional reach into niche markets without the overhead costs associated with recruiting, training, and retaining marketing and underwriting personnel.
April 10, 2018 by Robert McIsaac
In the hypercompetitive individual life insurance market, carriers are seeking to differentiate themselves through improvements in crucial areas like product innovation and speed to market. Insurers are looking to increase capabilities in these areas through investments in analytics, core systems, and marketing- and service-related technologies.