We made it! Welcome to Issue #100 🔎 How Embedded Insurtech Will Change ecommerce, Russian cyber war threat & more
A new perspective on an old-established industry. Find latest report, news and information about startups and innovations in the insurance industry, with a focus on best #insurtech initiatives and venture capital investments
In the future, some of the ways insurtech will revolutionise e-commerce include insurance when it is needed and an improved claims experience. Insurance has often been an afterthought across the e-commerce space. For the buyer, the focus is on the need for a product, and for the seller, the focus is very much on the tangible assets within a business. No one wakes up in the morning thinking about where to buy a new insurance policy, and there are many barriers to entry when it comes to insurance as a product. This is where embedded insurtech comes in; the perfect harmony of insurance and technology bundles together relevant protections within the customer journey for both the buyer and the seller.
Must-read insurtech stories
Russian digital warfare against Ukraine and potentially other nations as part of its invasion is prodding cyber insurers to beef up language protecting them against losses, and has left policyholders uncertain about the extent of their coverage.
Metromile reported 2021 results. Will they sweeten Lemonade’s performance? They can learn from how Coke weathered and grew through the Tab controversy.
COVID-19 has accelerated some trends that look certain to reshape the insurance industry. At the same time, some of the problems that have challenged the industry over the past decade have not gone away. In a new report, McKinsey examines actions insurers can take to address the challenges of this period of intense flux.
Insurtech Reports and Studies
Small business insurance has been one of the most talked about areas of insurance over the past five years. While talk has been high, action has been low from most incumbent insurers. Small businesses are changing their business models (e.g., ghost kitchens, digitally enabled operations, etc.) to align with evolving consumer behaviors and heightened risk awareness caused by the pandemic. To help answer how insurers can explore the small business insurance market, Deloitte surveyed 5,300 SMEs from 14 countries to understand their views about insurance, revealing six key findings.
Post of the week
Recommended by LinkedIn
Investment and Startup Use Cases
The round, co-led by MLTPLY and Brooklyn Bridge Ventures, provides fit-for-purpose coverage and tools to help policyholders run their businesses more effectively.
Nirvana Insurance, a technology-driven commercial fleet insurance platform, has announced the public launch of its services. Nirvana’s launch comes close on the heels of its $22m Series A funding round, taking the total funds raised to over $25m.
Kin Insurance, the direct-to-consumer home insurance company built for every new normal, today announced the $82 million first close of its Series D round, with additional commitments for a second close totaling $18 million.
Insurtech Digest Back Issues
The role for insurance in “uninsurable” risks, the rise of embedded insurance and more. Look at these and other news in our digest.
Time to collaboration, 5 trends shaping the insurance industry and more. This week we have 12 resources you shouldn’t miss!
Revolut enters InsurTech and launches pet insurance, why the vulnerability gap matters and more. A new perspective on an old-established industry.
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2yA special mention for recent insurtech rounds. Well done to Nirvana Insurance, Kin Insurance and Stable Insurance teams https://lnkd.in/dc9khv_S #insurtech
| Expert- Consultant| MC Consultants| 🐘Insurance Elephant🐘|Insurance Advocate
2y'Small' business insurance? Maybe not so small: >>Commercial insurance in the U.S. generated $315 Bn in premiums in 2020 >>Commercial insurance claims totaled more than $172 Bn in that period >>The coverage gap for commercial business income losses exceeded those amounts in aggregate Surely the situation is mirrored in other markets. Hard markets, contracting cover, rising premiums yet demand is growing as suggested by this week's presentation by Alberto Garuccio Opportunity? Of course. Businesses to serve? Of course. Innovative ideas for risk financing and management needed? Of course. Build a better service model for your customers and you will rule your market. #innovationfromthecustomerbackwards