Not since the untimely death of the Princess of Wales, Lady Diana, can I think of an event that was globally discussed and touched a majority. Although different events in so many ways, there are some similarities. COVID-19 starts and ends all discussions on the phone. However, there is the ONE BIG HUGE difference, the economic impact the fight against COVID-19 is having. No other event has had this fast and as deep an impact globally. Most other events can be measured in a few news cycles, this event will be measured in months. But could we have planned for this? Do we have the ability to predict these local and global disasters? It seems we can, but do we do anything about it? It seems not and with our eyes firmly on COVID-19 events what else are we all missing?
This week, 16th March 2020, as more of us find ourselves working at home and again employers looking for flexible working, is it time to look at GIG working as a benefit? On the 2nd March 2020, France's highest appeals court ruled that one of Uber's former drivers should be recognized as an employee rather than as an independent contractor, putting France at the vanguard of other efforts around the world to give gig-economy workers broader employment rights. But is this the right approach?
is the insurance industry being disrupted or is it just toiling along waiting for that to happen?
Posted in InsurTech blog on Jan 29, 2020
How Artificial Intelligence Is Making It Critical to Control Transactions of Data? Check out this paper written by national law firm Wilson Elser & TonkaBI. It focuses on companies that work with insurers who want to optimize the claims processing using AI vendors.
"With the hurricane, you knew when and at what time it would arrive," Puerto Rico, Guayanilla resident Tatiana Rodriguez, 28, said, adding of the quakes, "This, you don't know at what time it's going to happen." This is the un-happy experience reported by CNN of many people this week in Puerto Rico.
With earthquakes back in the news from Puerto Rico with a 6.4 Magnitude shock and many aftershocks, this got me thinking about how we can respond with insurance and what warnings people get.
Is there any 'community' in insurance? When many industries are all trying to help those in need or to raise awareness of good causes, why does insurance fail at this - the one product designed to help and support communities in their time of need?
How does the investment in InsurTech measure up to the other areas such as can be seen on display at this years CES Expo in Las Vagas? An odd comparison? Maybe but the insurance industry seem to be struggling for innovation, growth and acquiring talent.
The sharing economy is here to stay and was one of the fastest growing business trends of the last decade, although at this point in time it’s impossible to know the actual size of the sharing economy because many of the companies are private and don’t publish their full business results.
There is a sea change coming to Insurance, this sea change is about AI, its been talked about for a few year but now it is coming. The big promise is that it will be used to improve process in dealing with claims pricing, and placing insurance. It will open up a sea change in innovation.