“Claims is one of the ripe areas (particularly in the short and medium term) for application of technologies.” – Caribou Honig
(click to tweet)
There are distinct categories in the world of insurance.
You have the incumbent carriers, the giant Googles and Amazons, and then the niche insurtechs like Hover and Lemonade. How these three species of company interact with each other is the dance we are witnessing today.
That’s why on today’s episode of the FNO: podcast, we are joined by the godfather of insurtech, Caribou Honig. Caribou is one of the cofounders of the prominent conference InsureTech Connect, and brings his expertise of all things related to insurtech—from theorizing about Amazon’s most recent purchase of Ring to understanding how drones have impacted the claims paradigm.
Tune in to this episode to hear Caribou’s perspective, so you can more accurately view the world of insurtech.
“In the battle between the incumbents and the tech titans, watch what happens to the insurtechs. They may be what tips the scale in one favor or the other.” – Caribou Honig
(click to tweet)
The FNO: Tips
- Attend conferences where business gets done rather than just intellectual enjoyment
- Look at cloud computing, APIs, drones, and augmented reality as examples of technology infiltrating insurance
- An API enables the user to have both best-in-class and integrative options
- Look at the app Tomorrow as an example of a fintech-insurtech hybrid
- Many non-insurance companies want to be in the supply chain to serve insurance providers
- Keep an eye on the big moves Google, Amazon, and Apple are making to understand how they’re approaching the insurance industry
- Understand that carriers themselves want to adopt new technology faster they are
- Build muscles for both risk management and risk-taking
Fourseventy Claim Management