Angus McDonald’s Post

Angus McDonald This article captures the essence of the ongoing digital transformation within the insurance industry, highlighting the significant shift from traditional models to innovative partnerships with insurtechs. It's refreshing to see how insurers are recognizing the value of integrating digital-first solutions, especially to meet the needs of younger consumers who demand convenience and personalization. The combination of insurtechs' data-driven insights and insurers' established infrastructures is proving to be a powerful tool for risk assessment, fraud prevention, and efficient service delivery. These collaborations are not only expanding distribution channels but are also creating more tailored, customer-centric offerings. As the industry continues to evolve, it's clear that these partnerships will play a pivotal role in shaping the future of insurance, ensuring that consumers receive products designed for our fast-changing world.

Senior executives at insurance carriers struggle with the complexities of introducing multiple vendors into their IT portfolio to meet business objectives. The Vencora group model allows for a full suite of solutions/services that can directly interact with a carrier AND among themselves. This is an significant value in a market where it seems IT solutions are everywhere. #strongertogether

With over 40 years in the insurance industry, Robert W. Smith and I have seen the evolving role of technology validate the resiliency of the legacy distribution channel and the continued importance of relationships among its participants. In the latest Fideles Advisors blog post, we discuss our observations on the gradual, but important recognition among insurtechs that the insurance distribution channel participants will largely be preserved, and disruption is harder than initially thought. Insurtechs seeking adoption are taking a more collaborative approach, identifying opportunities to align with key, existing stakeholders in distribution and understanding how to support their business objectives. Anyone involved in insurance technology or the distribution channel should considering attending the upcoming Insurtech Insights event in NYC in June. Its a real opportunity to understand the intersection between the two and what problems technology can actually solve for distribution stakeholders. #InsurtechInsights #InsuranceTechnology #insurancedistribution https://lnkd.in/gMp5Spms

The BriteCore Platform empowers P&C insurers to thrive in today’s dynamic market with a cloud-native all-in-one core insurance solution. Our short explainer video describes how insurers can modernize their insurance operations and harness the power of advanced data analytics with BriteCore – where innovation meets excellence. Learn more at britecore.com.

Why does open insurance need insurtechs?   Open insurance refers to sharing insurer-held data and capabilities within a specialized ecosystem. Technology is crucial to making open insurance a reality, and insurtech start-ups, with their agile frameworks and technology-first approach, play a pivotal role: they can prototype, test, deploy, and adapt solutions at a pace traditional insurers find challenging. Moreover, insurtechs are typically able to engage more frequently with customers than the traditional model allows. Collaborating with insurtechs not only brings technological prowess but also creates a fresh perspective on product development and consumer engagement throughout the insurance cycle. We discuss here: https://lnkd.in/gyGqVdxz   #openinsurance #insurance #data

BriteCore empowers P&C insurers with a cloud-native, all-in-one solution to thrive in today’s market. Watch our short video to see how BriteCore modernizes insurance operations and leverages advanced data analytics – where innovation meets excellence. Learn more at britecore.com.

As the insurance industry moves beyond the first wave of insurtech, the demand for digitalization across the value chain is more critical than ever. While insurers have made progress in their digital journeys, there is still much work to do. My colleague, Nathan Golia, Senior Analyst on Celent's P&C Insurance team, emphasizes that savvy founders have a unique opportunity to address the needs of carriers. By fostering collaborative partnerships, they can help transform the digital landscape of the industry. Discover how: https://lnkd.in/eAQcZJ7V #insurtech #DigitalTransformation #insurance

Check Out! How is Insurtech shaping software development for P&C insurance companies? InsurTech is playing a pivotal role in shaping software development for P&C insurance companies by driving innovation, enhancing operational efficiency, and improving customer satisfaction. Read the full blog here 👉 https://lnkd.in/gr989P4s #insurancetech #insurancetechnology #insurancesoftware #insurancesolutions #insurtech #propertyandcasualty #propertyandcasualtyinsurancesoftware

As the insurance industry moves beyond the first wave of insurtech, the demand for digitalization across the value chain is more critical than ever. While insurers have made progress in their digital journeys, there is still much work to do. Nathan Golia, Senior Analyst on our P&C Insurance team, emphasizes that savvy founders have a unique opportunity to address the needs of carriers. By fostering collaborative partnerships, they can help transform the digital landscape of the industry. Discover how: https://bit.ly/4eE6QFD #insurtech #DigitalTransformation #insurance

The shortcut to avoiding insurtech mistakes – before, during and after implementing technology in insurance. Download the digital transformation checklist here: https://lnkd.in/duj-MtR6 #claims #insurance #insurtech #checklist