As the frequency and intensity of climate change related extreme weather events has increased, so too, has the pressure on the insurance industry to provide proper protection. Parametric insurance is proving to be essential. Climate change-related extreme weather events such as flooding, storms and hurricanes have been on the rise in recent years. According to...Read More

With eye-watering levels of inflation and increasing interest rates triggering a global cost of living crisis, consumers and businesses are tightening their belts. How is the insurance industry coping? According to the Office for National Statistics (ONS), the Consumer Price Index (CPI) in the UK, including owner occupiers’ housing costs (CPIH), rose by 8.8% in...Read More

As 2022 draws to a close, FinTech Global spoke to industry executives to find out what trends stuck around from last year, what new patterns emerged and what the defining characteristics of the year were for the industry. For Maximilian Stratmann, chief revenue officer at Scanbot, one word which sums up the economic and political...Read More

Risk Control Technologies (RCT) was founded with the aim of making loss control professional’s lives easier. The company has positioned itself as the leading provider of loss control and safety software to the insurance industry in North America. Since its founding, RCT has expanded its solutions further to enable insurance carriers to achieve their risk...Read More

Insurance, particularly life insurance, is often considered a “grudge” payment. Most consumers won’t have a relationship with their insurer beyond the initial transaction, and the customer experience suffers as a result. This is what Zinnia is on a mission to change with its Engagement& Loyalty platform. According to Muriel Petri, business head of engagement &...Read More

The health and life insurance market has many challenges and trends in common with the wider insurance industry. However, it also faces its own unique hurdles, what are these and what can insurers do about them? In recent years, consumer behaviour and trends have shifted dramatically. What’s more, these changes look likely to persist. These...Read More

The metaverse has captured the attention of many. Mark Zuckerberg envisions a world where people “jump into” the virtual world to “do almost anything”. But doing things comes with risk, and risk needs to be priced. So where does insurance come into these big plans? No one likes change. In fact, it seems humans are...Read More

Innovation in the insurance industry is not just important, it is essential. A more dynamic market has meant insurers are venturing into non-traditional sectors as well as looking for more advanced ways of serving existing markets. The industry must ramp up its innovation efforts if it is to tackle increasingly threatening risks, such as climate...Read More

The roll-out of Tesla’s data insurance product is well underway in the US, promising its safe-driving customers up to 60% off their premiums, and freedom from being judged by conventional underwriting factors such as age and gender. But what will the impact on the rest of the market be? And will the venture last? Austin-based...Read More