Same word, different meanings! Not as bad as "big data! but looking in from the outside I see the fog of uncertainty.

The article below highlights the product side of insurance anticipating the needs of people on the move. As these people own less and rent/lease more the insurance needs can be more nuanced.

If you are a new home renter an insurtech innovator like Lemonade fits the bill. Read the linked article and you'll see the potential for other specialist products.

On the other hand, much of the supply chain of a typical insurer is more "legacy" but none the less as important. Garages and body shops repairing autos and trucks. Drainage contractors tackling flooding alongside groundworks, plasterers, electricians , decorators.

This is the "heavy lifting" of insurance dealing with vehicle, building and contents insurance. Complete platforms digitally transforming the whole supply chain.

Experts are needed to manage the various parts of the supply chain but with ever increasing data volume and types required to make decisions comes the need to augment human brain power with software- augmented intelligence.

Letting the professionals focus on what needs attention, allow automatic decisions on predictable events and outcomes. Giving transparency across the whole supply chain from the original claim to the satisfied claimant with a repaired or replaced asset .

Fraud is an ever present threat slowing up claims and adding cost and frustration. Self-service claims management can weed pout 40% of these freeing up resources across the supply chain.

And then the use of those wicked  algorithms can both highlight potential fraud and  help fraud investigators combine intuition/hunch with machine learning.

 Insurtech covers such a wide range of business processes and activities that the term can blur meaning. Maybe better to talk of digital transformation and the leadership and cultural transformation that must precede it.

A tale of insurance uberization and digital transformation