For the insurtech start-ups that will digitally transform business and technology models. Not just Silicon Valley but London, Frankfurt, Singapore and other centres of insurtech & fintech innovation. Silicon Valley has no monopoly!

Ali Safavi identifies 4 key areas of insurtech innovation:

  1. Improving user experience
  2. Risk assessment & underwriting
  3. Prevention of loss
  4. Cost reduction

See the details in the linked article in bottom pane below

There is another side to this though. Change management and digital transformation cannot happen unless cultural and organisational transformation happens first. Technology is a means to an end and not the end itself.

The classic outcome of too many a technology project without the cultural and organisation change in place is:-

  • Over budget
  • Under specification
  • Over time

Insurtech will be no different