Landscape insurtech – January 19th, 2018

Panorama insurtechs

I update my landscape insurtechs with 15 new startups on January 19th, 2018. You’ll find the update here. There are now 123 startups documented, coming from 17 countries.

Au menu d’aujourd’hui:

    • Hippo: Advanced home insurance and Quote in less than 60 seconds.
    • Slice: On-demand insurance.
    • Metromile: Insurance Pay-as-you-drive, based on driven miles.
    • Bought by many: Grouped insurance buying.
    • Understory: Environments captors (humidity, temperatures, wind, rainfalls), similar to mini weather stations which enable to audit afterwards the losses due to weather origins.
    • Affectiva: Emotions detection, Sentiment analysis and SDK deployment.
    • Jaco: Insured Behaviour data collect on web sites in order to improve the user experience.
    • Coverfy: Multi Insurance contracts management from a mobile phone, double coverage identification and Proposal of price improvements.
    • MyZuum: Telematics to add to the vehicle, Emergency alerts, prevention, driving behavior improvement, mechanical diagnosis….
    • Brokoli: Insurance contracts assessment from mobile phone and Distribution.
    • Drivies: Driving data analysis from a mobile app, Driving improvement propositions and Insurance price improvement proposition based upon collected data.
    • Predictry: Sentiment, choice or behaviour prediction thank to Machine learning and Predictive analysis and automatic recommendations.
    • Twiggle: Buying intention predictions thanks to natural language processing, machine learning and ontological models.
    • Conversable: Chatbot with a Saas Platform.
    • Leocare: Motor and Home insurance distribution via mobile, Quote in 45s and  On-demand insurance for some additionnal options..

Contact-me if you still don’t appear in the landscape insurtechs!

Press review January 15th, 2018

revue de presse du 15 janvier 2018

Here is a little overview of articles that caught my attention and deserve to appear in the “press review January 15th, 2018”!

O’Reilly offers books on data and artificial intelligence

The famous publisher of computer science books has a library of 80 of its publications on big data, artificial intelligence and data science, published between 2012 and 2016. Essential detail: the download is free, in pdf, epub or mobi.

Remember: when it’s free, you’re the product! O’reilly asks for your name, first name and email to download, but nothing forces you to enter the real …

press review January 15th, 2018

Not so accidental road accidents

Mathieu Grossetête is a researcher at the university research center on public action and politics. We propose in the Diplomatic World a reading interestingly, accidentology by car.

It appears that the prevention policies of Road Safety may now reach their limits because they are poorly targeted! Or when the art of data analysis becomes essential to better control a phenomenon, and treat it correctly!

Exciting article to read, which makes us rethink the notion of risk analysis, the perception of events. Finally, it simply invites us to change our way of thinking.

press review January 15th, 2018

Typologies of wearables

Evan Kirstel, one of the leading thought leaders in connected health, offers us a panorama of typologies of connected objects for health, aka wearables. This one goes a little further than the usual dichotomy watch and bracelet vs balance!

press review January 15th, 2018

Deloitte: human collaboration – machines

A visual of a Deloitte study, found on Twitter, gives an interesting reading of the symbiotic relationship that can develop between humans and machines. All thanks to the service rendered!

press review January 15th, 2018

Axa and telemedicine

Jacques de Peretti, CeO of Axa in France announced this week the launch of telemedicine in companies and openness from service to experts.

The second service is the extension of the current service (which I had the opportunity to test personally and which is very good). On the other hand, the first one supposes major investments and questions around the model chosen by Axa.

The question of danger, posed by Olivier Harmant, is in my opinion not relevant.

press review January 15th, 2018

However, what is the return on investment of this model for a complementary insurer? Indeed, a teleconsultation at the expense of the complementary supposes a cost support higher than the usual part. In order to be financially attractive, such a service needs to be either cheaper than normal consultation or to reduce risks. For now, teleconsultation is a vector of brand image and carries a demarcation line with respect to the competition. However, when everyone will do it, it will be necessary to consider the business model that goes with it!

Finally, should not this be the role of an intermediary platform? The latter would make this service available and look for the insurer who answers it. On the contrary here, it is carried directly by a complementary insurance? What does this say about our public health insurance? A lot of questions, few answers for now!

NEWS – What you may have missed in 2017

revue de presse du 15 janvier 2018

What you may have missed, like me in 2017!

If like me, you follow between 50 and 70 sources of information (rss feed) on a daily basis, not counting the linkedin and Twitter publications, it sometimes happens to lose your mind and miss some interesting information.

More specifically, it often happens to see an article that we think would be interesting and keep it for later. But this later comes only rarely and we end up with a small stack of articles to read!

For me, this blog has solved the question about the publication of reports, which remained on my desk waiting for something. For the articles, it is not quite that still, and I find myself at the end of 2017, with a good fifty articles under the elbow. Here are some of them, which you may have missed too!

The Tribune – Assurtech: a disrupted industry, for the benefit of the customer?

link: https://www.latribune.fr/opinions/tribunes/assurtech-une-industrie-disruptee-au-benefice-du-client-717687.html

Daniel Haguet, professor of finance at EDHEC, who was few (hum) years ago my teacher, gives his opinion on the phenomenon:

  • 75% of insurers consider that their industry could be disrupted
  • Big data, by aggregating data, even out of the insurance, allows a customization of offers
  • Distribution is growing online thanks to the rise of the internet
  • For many players, the challenge is to take a stake in these structures, to take advantage of both technological advances and the “captive” portfolios of clients.

Note: For a selection of insurers’ strategies with insurtechs, it is here !

Structuring technologies and forces

Seen on Twitter, but unfortunately without noting the source, I share it, because although incomplete without a caption, it seems to me wider in its acceptance of technologies than many current reports and panoramas, including mine !

what you may have missed

Here’s another one, which gives a little overview of the issues ahead.

what you may have missed

Medium – Insurance as a smart contract

link: https://medium.com/aigang-network/insurance-policy-as-a-smart-contract-fully-automated-process-too-good-to-be-true-39c613c18d8d

Aigang Network summarizes what insurance contracts will be tomorrow, thanks to smart contracts. Better yet, rather than a long speech, they made a demo, wrote the code around an Ethereum blockchain ( accessible on github ) and an app to test it, as well as a video, here:

Note: For a selection of articles on the blockchain, this is here

Risk management – Investing in the insurtech toolbox

link: http://www.rmmagazine.com/2017/06/01/investing-in-the-insurtech-toolbox/

A small inventory of insurtech solutions that address the issues of risk management:

  • Understory weather
  • Safety culture
  • Security Scorecard
  • Risk IQ
  • CapeAnalytics
  • Cyence
  • Human Condition Safety
  • DAQRI Smart Helmet

Note: To find my overview of insurtechs, it’s here !

Intercom Blog – Machine learning is easier than it looks

link: https://blog.intercom.com/machine-learning-way-easier-than-it-looks/?utm_content=buffer25695&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Once is not customary, a somewhat technical article, but that gives a specific example of what can be done with machine learning in 40 lines of code. Frankly, it’s a gift!

Note: For a selection of articles on artificial intelligences, it’s here !

The digital journal – connected objects of health, french social security does not perceive the added value

link: http://www.larevuedudigital.com/objets-connectes-de-sante-la-securite-sociale-nen-percoit-pas-la-valeur-ajoutee/

The title is deliberately provocative and surely a little removed from reality, when we know the current reflections! However, Laure Beyala, a biomedical engineer in Bichat, who has published a book on connected health objects, offers an interesting vision of the issue. She returns in particular on key concepts: Role of the social security, the insurers, DMP, brakes with the development, etc.

Note: For a selection of articles on connected objects, it’s here !

P & C360 – Telematics in auto claims is inevitable

link: http://www.propertycasualty360.com/2016/08/18/telematics-in-auto-claims-is-inevitable?slreturn=1515504588

This article is totally in sync with my opinion on embedded telematics (see my predictions for 2018 or even my note of conjuncture on this subject ). It goes back to what can be done with it, and why the use of this technology for disasters is inevitable!

Note: For a selection of telematics articles, it’s here

Insurance Thought Leadership – Why is Customer Experience Key?

link: http://insurancethoughtleadership.com/why-customer-experience-is-key/

This article is about a concept that I consider essential! Data, processes, technologies must be oriented around the customer and his needs. This is all the more true as connected objects and their billions of data become more and more accessible in the years to come.

Note: For a selection of articles on the user experience, it is here !

Design thinking

A visual that I like about design thinking and ideation strategy that I integrate more and more in my thoughts because totally related to the notion of innovation. The content could not be done without the form …

what you may have missed

Innovation Insurance – My 6 topics for 2018

6 topics for 2018

As it is frequent at the beginning of the year, I too will fall into the game of predictions for the coming year. With my 6 topics for 2018, here are the 6 points that I think will be 2018 on innovation in insurance:

IOT

I think the moment is good to launch complete offers around telematics embedded in cars, smart homes or wearables. When I think of complete offers, it does not just mean capturing user data. It is also, above all, and before all, providing services to these policyholders or using these tools to implement new prevention policies.

Redesigning offers

This may be the consequence of the previous point, but a little wider, a redesign of offers. It’s time to think about offering insurance products as the structuring element of the insurance value chain, from prevention, to disaster, to adding service. For example, the improvement of claims management will only pass a complementary course when products are designed to be managed quickly and simply.

Platforms

I often talk here about decomposing the value chain with the setting up of experts at all levels, namely, risk bearers, distributors and managers, for the purely insurance part, but also service providers. ecosystems that will need to be mobilized intelligently. The advent of the platforms will aim to move towards this type of organization where everyone will find his place!

API

As a direct consequence of the previous point, if the same contract must concern multiple interlocutors, the notion of interface between them is essential. Maturity on these issues has greatly increased in recent years. Simple EDI flows (like those still used for third-party payment for example), we moved to advanced webservices but sometimes complicated to set up. Then, we now come to expose real complete services, through webservices or APIs to access the data without necessarily changing the technical architectures in a structuring way.

Insurance “cyber”

The needs in this segment are exploding, and it will be an intelligent response that avoids the pitfall of systemic risk! For me, here more than elsewhere, it means helping to prevent and reduce risks upstream to avoid the most frequent attacks. On the technological side, the weakest link is always first and foremost the human, it is about takins this into consideration! By the way, how do you manage your passwords?

A user experience at the heart of all steps

The last few years have been mostly devoted (except for the more advanced ones) to work around the efficiency of processes, and how to do it for less! It is now to be interested in doing better for the same price, or better for less expensive. Better means here better from the point of view of the customer, because the essential thing is to simplify his life, to eliminate irritants. It is therefore customer demand that must be at the center of future optimizations.

It goes without saying that Siltéa and I are able to accompany you on these 6 topics for 2018! Feel free to contact me .

And you? What do you think? Do you have others?

Insurance innovators – Future of insurance 2017

future of insurance 2017

Version française ici.


Insurance Innovators (an offshoot of Market Force, which I had already talked about here for their report under the same title ) has just published the future of insurance 2017 (Future of General Insurance Report 2017).

7 themes are discussed (for a better readability I separated into several pages):

  • Innovation and Disruption
  • A changing regulatory environment
  • The future of underwriting and pricing
  • Value-added services
  • Touch Millenial Generation
  • Insurance in the Age of Machine Intelligence
  • Fraud in a connected world.

Written in partnership with the Chartered Insurance Institute , and sponsored by IBM, Sas and Smart Communications , this report is generic, but of quality. Market Force believes that insurers are poised to innovate and transform to keep pace with insurance companies, but the pace of transformation is still too slow. A tip: Act now! Continue reading “Insurance innovators – Future of insurance 2017”