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Internet-of-Things Poised to Disrupt Banking and Insurance

By

The Internet-of-Things (IoT) is set to be one of the biggest technological transformations on the horizon, promising to radically change the way we live and how we conduct business. (more…)

Analytics, Banks, Global trends, Insurance, Marketing Report

January 18, 2017

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The Top 10 Insurtech Trends For 2017 That Set The Digital Insurance Agenda

By Roger Peverelli and Reggy de Feniks

The beginning of the year is usually the time to predict key trends for the year to come, and so it goes with the insurtech sector as well. Most lists focus on the latest sexy technologies and applications, but after a year, we find these have hardly gained any traction, so cannot really be considered “trends”. To call something a key trend, new and innovative isn’t enough. It requires adoption at scale. We therefore decided to take a different approach, resulting in quite a different kind of list. (more…)

About, Fintech news, Global trends, Hotnews, Insurance

January 18, 2017

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InsurTech startup Digital Fineprint joins Accenture innovation lab

By Finextra

Digital Fineprint, an InsurTech startup that harnesses social media to super-charge insurers online propositions, has been selected to take part in Accenture’s Fintech Innovation Lab in London, from over 300 applicants. (more…)

Accelerators/Incubators/Labs, Fintech news, Insurance

January 17, 2017

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Insurance Incumbents Turn To Big Data, Partnerships To Keep Pace With Startups

By CB Insights

The insurance landscape is going through tremendous change, and policy reform is not the biggest challenge on the horizon. Data analytics, machine learning, and a surge of new entrants are disrupting the traditional insurance model and creating easier, more affordable access to coverage. (more…)

About, Global trends, Insurance

January 16, 2017

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Innovation under the hood will rev the engines of a fintech revolution

By  for TechCrunch

When the internet was first created in the 1970’s and 1980’s with the introduction of the ARPANET its early years were focused on the development of infrastructure and protocol — beyond the knowledge and far away from the consciousnesses of the general public. (more…)

Analytics, Banks, Cryptocurrencies, Fintech news, Global trends, Insurance, p2p-payments, PFM/PFP services

January 15, 2017

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Insurance Tech Startups Raise $1.7B Across 173 Deals in 2016

By CB Insights

Two of every three insurance tech deals in 2016 took place at the early-stage. (more…)

Analytics, Deals, Fintech news, Insurance

January 15, 2017

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Traditional Insurance Companies Forced By Insurtech To Innovate In 2017

By  for Fintechnews Singapore

The insurance industry had given us amenities that we take for granted today. For instance, the fire station is the invention of insurance companies. After the Great Fire of London, insurance companies built the modern fire stations to fight fires against buildings which they insured. Over time, they pooled their resources together to form the London Fire Brigade in 1865. (more…)

Fintech news, Global trends, Insurance

January 11, 2017

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Insurers tap cyber security ratings to limit liabilities

By  for Financial Times

New breed of start-ups aims to assess strength of companies’ defences against hackers. (more…)

Insurance, news, Security

January 8, 2017

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The Top Financings And Partnerships In Insurance Tech — 2016 Recap

By CB Insights

From the rise of insurers starting strategic venture arms to a record amount of early-stage deal activity to new partnerships in smart home, distribution, and elsewhere, it’s been a busy year in the world of insurance tech. (more…)

Deals, Fintech news, Global trends, Insurance

December 26, 2016

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5 Cs of Opportunity in InsurTech

By Shwetank Verma for LTP

Insurance globally is an industry with scale, with USD 4.1 trillion dollars of premium written in 2015 alone.  It is also an industry on the cusp of change – attracting investor interest in record numbers with investments totaling USD 1.4 billion on InsurTech firms in just the first three-quarters of 2016. (more…)

About, Fintech news, Insurance

December 24, 2016

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Asia’s Own Lemonade: Neosurance & KLCC Runners Group Partner To Offer The First “Push” Micro Insurance To Malaysian Runners

By

Neosurance  and KLCC Runners Group have signed a Memorandum of Understanding for the distribution of microinsurance to KLCC Runners Group growing community members. The microinsurance product will be provided ad hoc by a leading reinsurer and insurer who will be disclosed later, together with the price and features of the microinsurance. (more…)

AI / Machine Learning / Big Data, Fintech news, InspirAsia, Insurance, Malaysia

December 23, 2016

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The rise of insurtech in the age of algorithms

By  for Dataconomy

In the internet era, giants of the digital age like Google, Apple, Facebook, and Amazon (GAFA) in Western markets and Chinese powerhouses like Baidu, Alibaba, Tencent, and Xiaomi (BATX) in Eastern markets have been increasingly straying away from their bread-and-butter products and testing the waters in large, established industries like banking. (more…)

AI / Machine Learning / Big Data, Fintech news, Global trends, Insurance

December 22, 2016

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Pay Only What You Use: Trov On Demand Insurance Shaking Up $1.2tr Industry

By Freddie Dawson for Forbes

No one wants to pay for something while they’re not using it. Yet that is exactly what happens with out-of-the-house contents cover. You pay a premium to insure a device but then that device might sit at home covered by home insurance whenever it’s not in transit or use – wasting money through redundancy. (more…)

Analytics, Fintech news, Insurance, Mobile payments/banking

December 21, 2016

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IoT-Powered Transformation in the Insurance Industry

By Elena Mesropyan for LTP

Being one of the most exciting areas of innovation, the insurance industry by-product, InsurTech, attracted more than $1.2 billion in investments in 2015 – six times the amount invested in 2010. According to a 2015 report from WEF,“The most imminent effects of disruption will be felt in the banking sector; however, the greatest impact of disruption is likely to be felt in the insurance sector.” (more…)

Analytics, Fintech news, Insurance

December 20, 2016

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Hippo gets $14 million to disrupt home insurance market

By  for VentureBeat

We’ve got smartphones and smart homes. Why not smart insurance? Hippo has raised $14 million to disrupt the home insurance market with smarter online service. (more…)

Deals, Fintech news, Insurance

December 15, 2016

Lemonade Raises $34m in Series B Funding

By FinSMEs

lemonade

Lemonade, a New York-based renters and homeowners apartment insurance startup, raised $34m in Series B funding.

The round was led by General Catalyst with participation from GV (formerly Google Ventures), Thrive Capital and Tusk Ventures, as well as existing investors Aleph, Sequoia, and XL Innovate. (more…)

Deals, Fintech news, Insurance

December 6, 2016

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Neosurance Ramps up After the MEDICI Top 21 – Insurtech

By LTP

Starting from today, a low-cost injury coverage with a daily allowance in case of accident plus medical assistance is available via smartphone. This has been made possible by the recent partnership established between an important international insurance group and the Italian startup Neosurance – winner of the Insurance IoT Newcomer Award in London and the MEDICI Top 21 InsurTech Award. More details about the partnership and the price of the insurance policies will be revealed shortly. (more…)

Fintech news, Insurance

December 4, 2016

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MAS Unveils New Moves To Boost Fintech Sector in Singapore

By

The Monetary Authority of Singapore (MAS) has announced a series of moves to boost fintech development in the city-state and strengthen ties with other Asian countries. (more…)

Fintech news, Government activities, Insurance, Security, Singapore

December 2, 2016

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Car Insurance Pricing Is Broken, But Your Phone Could Fix It

By David R. Martin for Wired

AS THE COMMERCIALS make clear, shopping for car insurance can be frustrating. That’s in part because auto insurance pricing is largely a black box for consumers. While the price a consumer pays for insurance is based on a risk estimate derived from demographics, past traffic violations, and claims history, each carrier uses the data in a unique, closely guarded way to calculate a price, and the number of prices for a given risk is as large as the number of insurers. Thus, it is difficult to be sure that you have the best price, or even a decent price, and many consumers are skeptical of the fairness of the entire process. (more…)

Analytics, Fintech news, Insurance

November 29, 2016

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Blockchain Startup Bluzelle Eyes New Blockchain Markets With KPMG Digital Village Partnership

By

Bluzelle Networks, a Singaporean company specializing in blockchain applications for the financial services industry, has been named as an Emerging Star in KPMG and H2 Ventures’ notorious Fintech 100 list. The company plans to tap into new markets with its partnership with KPMG Digital Village. (more…)

Blockchain, Cryptocurrencies, eWallets, Fintech news, Insurance, Singapore

November 29, 2016

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Zenefits reaches a $7M settlement with California

By Cale Guthrie Weissman for FastCompany

Zenefits has reached a deal with California regulators to the tune of $7 million, BuzzFeed News reports, citing a “person briefed on the deal.” The insurance company has spent the last nine months trying to rebuild its business after revelations arose that the company systematically skirted insurance laws and regulations.  (more…)

Fintech news, Insurance

November 29, 2016

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InsurTech in Asia: 10 things to know

By Philip P. for e27

InsurTech is blossoming, thanks largely to passionate ecosystem builders contributing their networks and expertise to invigorating and future-proofing the insurance industry. I feel extremely fortunate to be at the epicentre of this movement, and deeply inspired to foster InsurTech ventures to achieve increasing quality and scale. (more…)

About, InspirAsia, Insurance

November 28, 2016

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The Strongest Transformative Forces in the Insurance Industry

By Elena Mesropyan for LTP

No other industry has a bigger impact on the improvement of national welfare than insurance. In 2015, insurance premium volume worldwide reached $5.265 trillion, attracting ever-expanding attention to insurance business from across the field. In the years ahead, insurance landscape will no longer be an oligopoly as transformative forces will reach the level of impact enough to reimagine traditional business models. But what are those forces and how will they change insurance? An interesting opinion on the matter has been shared a week ago in the publication called Driving FinTech Innovation in Financial Services by Deloitte in collaboration with All Street, which emphasizes important external and internal forces that will impact general insurance landscape transformation, some of which we have notedbefore. (more…)

About, Analytics, Insurance

November 26, 2016

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AXA partners with Silicon Valley startup Trov to launch insurance ‘as simple as Tinder’ for British millennials

By  for Business Insider

California-based Trov lets people buy flexible insurance for single items through their smartphones. If, for example, you have got an expensive camera sitting in your cupboard that you only occasionally use, you can use Trov to get temporary insurance for the times when you do actually take it out and use it.

(more…)

AI / Machine Learning / Big Data, Fintech news, Insurance

November 24, 2016

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101 InsurTech Startups Revolutionizing the $4.5-Trillion-Dollar Insurance Industry

By Elena Mesropyan for LTP

The young, but extremely vibrant history of InsurTech proves it to be one of the most electric industries to follow in 2017 and beyond. An ever-expanding list of outstanding InsurTech startups is already shaking up the $4.5-trillion-dollar industry by leveraging technological capabilities. The use of disruptive technologies like big data, Internet of Things (IoT), mobile technology, AI, social network and blockchain are gaining momentum and InsurTech firms are looking for a scope to capitalize it. (more…)

About, Fintech news, Insurance

November 24, 2016

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Are Auto Insurers On The Road To Nowhere?

By Morgan StanleyVoice for Forbes

Personal transportation is on the verge of disruption from several different directions: New technology is reducing the number of accidents; data makes it easier to track driver behavior; ride-sharing is replacing car ownership.

(more…)

Analytics, Global trends, Insurance

November 24, 2016

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Tencent, partners ready 1.5b yuan online Chinese insurer HeTai

By The Business Times

Chinese internet services giant Tencent Holdings Ltd and a group of seven investors have moved closer to launching a 1.5 billion yuan (S$310.1 million) online life insurer in China, putting up funds and signing an agreement to form the venture. (more…)

China, Deals, Fintech news, Insurance

November 23, 2016

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Don’t understand the blockchain hype? Look at smart contracts.

By  for TechInAsia

Ask a bank about bitcoin, and you will get skepticism. Understandable, considering that the cryptocurrency scene is riddled with volatility and distrust. But ask about the blockchain, and the experts will tell you that it is “the biggest innovation since the internet.” (more…)

About, Blockchain, Fintech news, Insurance

November 21, 2016

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The Future of Insurance Is InsurTech

By Matteo Carbone for LTP

The insurance sector has entered a phase of profound transformation. Numerous InsurTech startups have popped up to challenge the traditional model by generating more than 16 billion dollars in the last year from insurance companies. (more…)

About, Fintech news, Global trends, Insurance

November 15, 2016