The Digital Insurer Quarterly Digest: Q2 2015

Published: Tue, 03/31/15

 
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Announcing our new sponsor - eBaoTech

We are delighted to announce that we have a new sponsor for The Digital Insurance website and community.  eBaoTech is an award-winning global leader in core insurance software, whose mission is to "make insurance easy" by making insurance faster, better and cost effective.  eBaoTech specialise in creating and implementing end-to-end insurance solutions and have developed a number of products globally which focus on being agile and scaleable.  Our partnership with eBaoTech will allow us to explore how technology companies are responding to the demand for agile deployment of new products with a much higher standard of user experience . 

Find out more about eBaoTech
Just launched - learn more about the digital transformation of marketing in insurance
​Last week we announced the launch of our brand new section called Digital Marketing in Insurance in partnership with our sponsor, Clicks2Customers. In case you missed the email, you can read it here. We have also summarised what it's all about below. Digital Marketing was the area that you, our subscribers, identified as the highest area of interest in our poll last year and we are pleased to be able to add more coverage on this topic.
 
The new section will provide you with all the information you need to know about the core foundations of digital marketing, a crucial aspect of any digital transformation journey. We will be releasing content for 6 key digital marketing pillars throughout the course of the year.  This will take the form of an Introduction to the topic followed by a Master class.

Read the overview
Latest trends in Digital Underwriting: An interview with Swiss Re's leader responsible for innovation in underwriting
This interview comes from our latest Thought Leadership report which we recently produced with Swiss Re.  In it Oliver Werneyer, Swiss Re's Innovation Manager within the Protection Partners Team, talks about the latest trends and innovations within digital underwriting. According to Oliver,the 5 most important digital trends that are impacting underwriting around the world are:
 
1. Quantified Self (including wearable devices, internet of things, internet of everything)
2. Social Network Analysis
3. Mobile
4. The rise of new kinds of insurance groups
5. Behavioural economics and gamification

Read more about Digital innovation in underwriting
Bigger and better Digital Insurance Library
We our well on our way to achieving our goal of creating the world's largest database of reports and reviews on digital insurance. In addition to our monthly reviews of recent reports in digital insurance, we are also starting to publish report summaries. These report summaries contain a bullet point summary without an editorial, whereas the reviewed items are fully reviewed by The Digital Insurer and include an editorial point of view from The Digital Insurer. You can also easily search and filter by each type of report.

Take a look at our bigger Digital Insurance Library
Google Insurance - now launched in the United States
We recently wrote an article on the then planned but now confirmed launch of Google Insurance in the United States, where Google has entered as an aggregator of auto insurance.  The article includes a User Experience Review between Google Compare in the UK and CoverHound, which has been rumoured to be on Google's acquisition list. We also tackle the question of conflicts with the model, in particular potential data conflicts.  The article generated quite a lot of discussion on our LinkedIn Group. We also plan to publish another article on the topic over the coming month following on from all the comments we received - watch this space!

Read the article on Google Insurance
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Editorial

Digital insurance - going mainstream?

Digital insurance is definitely on the move! The Economist recently published a short report on digital insurance. Its conclusion is worth noting:

"As the insurance sector embraces new, previously inconceivable strategic partnerships
with manufacturing and technology brands, insurers must also make certain that the skill
set of their workforce reflects these changing dynamics. This cannot be achieved by continuing
in the traditional siloed, hierarchical business structure, and it cannot be outsourced as the
responsibility of middle management. The C-suite, board of directors, shareholders and
non-executive directors all share a responsibility for realising their insurance business’s digital
ambitions. The pre-digital world is consigned to history; it is up to the insurance sector to make
its services fit for the digitally connected world as it is today and how it may be tomorrow."

To access the full report from The Economist click here. We will include in the Library soon.

New content - and new sponsors

Over the last quarter we have seen strong interest, and received positive feedback, on our Digital Underwriting and Fulfilment report published in collaboration with Swiss Re.

We have also completed our planned expansion of the Digital Insurance Library to include summaries of reports that we couldn't include in our monthly reviews. With this we think we have become the largest library of knowledge in digital insurance around the world - and we are committed to adding to this body of knowledge through our monthly releases.

Our two new sponsors, eBaoTech and Click2customers, will allow us to increase our coverage of digital insurance technology and digital marketing respectively. Collectively our sponsors are committed to the promotion of digital insurance.

We have a number of guest authors confirmed for the next quarter to provide insights into Google's insurance activities, digital insurance in China and corporate venturing to take advantage of digital insurance opportunities.

Digital Insurance in Action - hoping to launch in Q3

Digital Insurance in Action in a new content section that will report on digital insurance initiatives in Asia and around the world. Digital Insurance in Action will be a companion content section to the Digital Insurance Library.

Discussions with potential sponsors are progressing well and we hope to be able to formally confirm in the second quarter  with a launch date for the third quarter.

How to participate

We have more than 5,000 subscribers and over 2,000 members on our LinkedIn Group (which gives priority access to our new content as it is released). We are always looking for a range of views on Digital Insurance so if you would like to be a guest author in 2015 please get in touch with your ideas.

The team behind the scenes

Our team is continuing to grow and we have more access to experienced journalists, commentators and content developers who will bring their experience and perspective to the discussions on digital insurance around the world. We are continuing to grow and are looking for freelance writers to help with development of quality content. More information is provided here.

Yours digitally.