“So often we look at this technology and ask: how are we going to settle these claims quicker and more accurately.”
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People need insurance.
But people don’t need the often outdated systems surrounding traditional insurance systems. This is where Insurtech comes in—the sprouting industry sector that brings robust technologies to improve the sometimes boring, paperwork-filled experience of the insurance world.
We’re talking drones, robots, cameras—those technologies that take what a human can do and multiply it by a thousand, ten-thousand, and even more.
So today, on the FNO: podcast, we are diving deep into the world of Insurtech. In this episode, we unpack the vision of our podcast—how we are going to explore the intersection of insurance technology and claims.
Tune in to this inaugural episode to hear about many of the key players and where Insurtech and claims intersect.
There’s a tension in the air—both on the vendor and carrier side—because few people have a good picture of what this is going to look like 5-10 years down the road.”
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The FNO: Tips
- The more a system adopts machine-learning, the less human labor is required
- When in doubt, follow what the tech giants are doing (Google, Amazon, etc.)
- Carriers are currently seeking out technology to mitigate the claim altogether
- Ex: Water flow detection devices to track water loss
- People theorize Insuretech—as an industry—is moving slower but the disruption will be greater
- Customers are happiest when there is no claim altogether
- Technological uncertainty has created a tension between the vendor and carrier
- Check out the companies: Hover and QBE to prepare for future episode
Fourseventy Claim Management
Hosted by Rob Beller and Lee Boyd