Why Everyone Wants to be the next Lemonade - Top Trends to Watch in Insurtech (w/Alan Walters, VP Insurance Research, Conning)

Today Alan Walters of Conning shares research about trends in Insurtech in 2021.

Continued Impact in Distribution - independent agents and brokers can modernize, digital agency making it easier to buy and service policies,

Getting the Carrier C-suite feedback on working with insurtech, "This is a ten-year initiative for us, we need to cut the expense ratio," 

Reviewing insurance Value Chains, digging into your challenge spaces and see if there is an insurtech, for example in underwriting small businesses, or claims efficiency using analytics and adjustments, 

Lemonade, which started in renter's and personal lines now getting into term life and automotive means having a strong brand cuts across the legacy of serving one kind of insurance,

Carriers and insurtechs working together will remain an ongoing struggle. If a carrier has a dedicated innovation team, there is a known path with some downfalls, it is really an internal consultant without a true change driving role. These structures can help get pilots running, but at the end of the pilot, which is often at the expense of the insurtech, contracts to move into production lacks clear accountability at the insurance carrier and connection to the procurement processes.

Follow Insurtech Leadership Podcast airing weekly hosted by Joshua R. Hollander. We give you up-close access and personal insights from the leaders of the fastest-growing #insurtechs and most innovative #insurance carriers and brokers.