A group of leading companies have published an open letter to the insurance industry announcing the launch of the InsurTech Coalition.
The host of top InsurTech firms, including Boost, Branch, Clearcover, Lemonade, and Root Insurance, revealed the launch of the novel trade organisation dedicated to shaping the future of insurance both ethically and inclusively.
Described as ‘the voice of InsurTech companies’, its core mission revolves around reinforcing members’ commitments towards responsible use of technology, empowering consumers with innovative tools, collaborating with regulators, enhancing transparency, and re-imagining insurance products to better manage risks.
The open letter which was distributed by the group and emphasised alignment with shared values of transparency, fairness, and consumer empowerment. The intent is to grow its membership, inviting other InsurTech advocates to join and contribute to driving positive changes within the insurance environment.
The InsurTech Coalition is also set to receive advisory support from Mayer Brown LLP. Jared Wilner, a Partner in Mayer Brown’s Insurance Industry Group, expressed pride in advising the Coalition, highlighting its mission to educate, support InsurTech innovation, and advocate for consumer interests.
Wilner said, “It is an honour to advise the InsurTech Coalition and support it in its mission to educate interested parties with respect to the adoption of novel uses of data and technology into insurance business processes, be a resource for the InsurTech community, and advocate for consumers of insurance products.
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