Artificial intelligence has the potential to transform every aspect of the insurance value chain:
- It will enable highly personalized distribution channels and products by analyzing vast amounts of customer data.
- Risk assessment and pricing can be improved through more accurate risk models based on individualized customer data.
- Claims management can be made more efficient by reducing fraud and automating processes.
Mercer Capital's Value Focus: FinTech Industry | Second Quarter 2016 Mercer Capital
Mercer Capital’s quarterly newsletter, FinTech Watch, provides an overview of the FinTech industry, including public market performance, valuation multiples for public FinTech companies, and articles of interest from around the web. This newsletter focuses on FinTech segments, including payment processors, technology, and solutions companies, examining general economic and industry trends as well as a summary of M&A and venture capital activity.
Mercer Capital's Value Focus: FinTech Industry | Second Half 2016Mercer Capital
Mercer Capital’s newsletter, FinTech Watch, provides an overview of the FinTech industry, including public market performance, valuation multiples for public FinTech companies, and articles of interest from around the web. This newsletter focuses on FinTech segments, including payment processors, technology, and solutions companies, examining general economic and industry trends as well as a summary of M&A and venture capital activity.
Mercer Capital's Value Focus: FinTech Industry | First Half 2017Mercer Capital
Mercer Capital’s quarterly newsletter, FinTech Watch, provides an overview of the FinTech industry, including public market performance, valuation multiples for public FinTech companies, and articles of interest from around the web. This newsletter focuses on FinTech segments, including payment processors, technology, and solutions companies, examining general economic and industry trends as well as a summary of M&A and venture capital activity.
A look inside the top 4 trends driving the FinTech industry today. How technology is impacting financial services and how they can benefit from advanced data analysis. Presented by Peter Huang, Director of Data at Beyondsoft.
Southeast Asia's Top 75 FinTech Startups ReportTechsauce Media
FinTech sector has globally seen substantial growth over recent years. What's about the FinTechs in Southeast Asia? Who are they? and how are they doing?
Our research shows an engrossing extension of fintech startups which are a combination of technology and financial services resulting in the rise of a disruption taking place in the services industry.
The companies mentioned in the report are just one dimension of the changes in technology and financial services, where creativity is the key to build traction, to attract capital gain and to put consumer demands as the center of business.
The 75 Fintech Startups are entrepreneurial ventures which are typically newly emerged, fast-growing businesses, aiming to meet a marketplace need by developing or offering innovative products, processes or services. These companies are typically involved in the design and implementation of the innovative processes of development, validation and research for target markets.
Digital Disruption in Asset and Wealth ManagementCapgemini
The groundswell that is today impacting massively retail banking is now impacting all banking businesses. Opportunities offered by new digital technology such as Big data & analytics have not been fully explored yet by Asset & Wealth Management actors, and new technologies are mainly confined to improve shared platforms and reporting flexibility. But the turn might come soon now with the aggressive launches of Fintechs investing all parts of the banking business, including its most exclusive territories.
Asset and Wealth Management might be the next targets, facing the up-rise of new Robo-Advisors quickly gaining market
share on their devoted playground until now.
Traditional Asset and Wealth Managers should anticipate and react, building on their knowledge and assets in order to contain this new trend but this will require that they adapt and probably more globally rethink their business model, to avoid the commoditization of their activity.
The aim of this document is to present how Asset and Wealth Managers can take advantage of the digital revolution / emergence of Fintechs to become more competitive and attract more clients.
Mercer Capital's Value Focus: FinTech Industry | Second Quarter 2016 Mercer Capital
Mercer Capital’s quarterly newsletter, FinTech Watch, provides an overview of the FinTech industry, including public market performance, valuation multiples for public FinTech companies, and articles of interest from around the web. This newsletter focuses on FinTech segments, including payment processors, technology, and solutions companies, examining general economic and industry trends as well as a summary of M&A and venture capital activity.
Mercer Capital's Value Focus: FinTech Industry | Second Half 2016Mercer Capital
Mercer Capital’s newsletter, FinTech Watch, provides an overview of the FinTech industry, including public market performance, valuation multiples for public FinTech companies, and articles of interest from around the web. This newsletter focuses on FinTech segments, including payment processors, technology, and solutions companies, examining general economic and industry trends as well as a summary of M&A and venture capital activity.
Mercer Capital's Value Focus: FinTech Industry | First Half 2017Mercer Capital
Mercer Capital’s quarterly newsletter, FinTech Watch, provides an overview of the FinTech industry, including public market performance, valuation multiples for public FinTech companies, and articles of interest from around the web. This newsletter focuses on FinTech segments, including payment processors, technology, and solutions companies, examining general economic and industry trends as well as a summary of M&A and venture capital activity.
A look inside the top 4 trends driving the FinTech industry today. How technology is impacting financial services and how they can benefit from advanced data analysis. Presented by Peter Huang, Director of Data at Beyondsoft.
Southeast Asia's Top 75 FinTech Startups ReportTechsauce Media
FinTech sector has globally seen substantial growth over recent years. What's about the FinTechs in Southeast Asia? Who are they? and how are they doing?
Our research shows an engrossing extension of fintech startups which are a combination of technology and financial services resulting in the rise of a disruption taking place in the services industry.
The companies mentioned in the report are just one dimension of the changes in technology and financial services, where creativity is the key to build traction, to attract capital gain and to put consumer demands as the center of business.
The 75 Fintech Startups are entrepreneurial ventures which are typically newly emerged, fast-growing businesses, aiming to meet a marketplace need by developing or offering innovative products, processes or services. These companies are typically involved in the design and implementation of the innovative processes of development, validation and research for target markets.
Digital Disruption in Asset and Wealth ManagementCapgemini
The groundswell that is today impacting massively retail banking is now impacting all banking businesses. Opportunities offered by new digital technology such as Big data & analytics have not been fully explored yet by Asset & Wealth Management actors, and new technologies are mainly confined to improve shared platforms and reporting flexibility. But the turn might come soon now with the aggressive launches of Fintechs investing all parts of the banking business, including its most exclusive territories.
Asset and Wealth Management might be the next targets, facing the up-rise of new Robo-Advisors quickly gaining market
share on their devoted playground until now.
Traditional Asset and Wealth Managers should anticipate and react, building on their knowledge and assets in order to contain this new trend but this will require that they adapt and probably more globally rethink their business model, to avoid the commoditization of their activity.
The aim of this document is to present how Asset and Wealth Managers can take advantage of the digital revolution / emergence of Fintechs to become more competitive and attract more clients.
Diving deep into literally millions of interactions and conversations with different networks such as Facebook, Twitter and Instagram, blogs, forums and news sites in order to bring you analytical info about how social media affects different sectors like:Sharing Economy, Banking and Finance, Ecommerce, Telecom and Fintech.
Summary of findings
2018 VC-backed fintech deals and funding set an annual record: In 2018, - VC-backed fintech companies raised $39.57B across 1,707 deals globally. Deals were up 15% year-over-year while funding surged 120% on the back of 52 mega-rounds ($100M+) worth $24.88B combined.
Fintech is happening on global scale with deals outside of core markets (US, UK, and China) accounting for 39% of deals: Fintech deal hubs are starting to emerge globally. The count of unique fintech startups raising funding topped an annual high of 1,463 companies, and the unique number of investors reached 2,745 boosted by an influx of corporate investors.
Early-stage deals, as a percentage, fell to a 5-year low as investors concentrated bets in perceived winners: Global seed and Series A fintech deals grew 5% on an annual basis in 2018, but fell as a percentage of total deals to 57%. US early-stage deals were flat YOY as investors concentrated their bets in established fintech unicorns.
There are 39 VC-backed fintech unicorns worth a combined $147.37B: Q4'18 saw five new unicorns births (Plaid, Brex, Monzo, DevotedHealth, and Toss) and two in the first month of Q1’19 (N26 and Confluent). The cohort’s total valuation in 2018 was boosted by a record year for megarounds to existing unicorns, including Gusto and Robinhood, among others.
Redefining Growth Through Engagement DesignAlchemy Crew
This presentation has for purpose to provide Tech leaders, Investors, Established innovators with an overview on The Proposition Circle's approach to redefining and delivering unique customer engagements in highly disrupted and competitive markets.
CB Insights Global Fintech Report Q3 2019Jeff Martinez
Q3’19 fintech funding topped $8.9B, a quarterly record when adjusting for Ant Financial’s $14B investment in Q2’ As of Q3, fintech has raised $24.6B in 2019, already surpassing 2017’s annual total. Funding grew on the back of 19 $100M+ rounds worth approximately $4B in Q3’19.
Deals rebounded slightly in Q3’19 but are likely to fall short of 2018’s record as a result of a continued pullback in early stage investing: Fintech deals in Q3’19 grew 6% from Q2'19, but they have dropped in every quarter in 2019 when compared to the same time frame last year. Early stage (seed/angel and Series A) deals fell to an 11 quarter low and funding hit a 7 quarter low.
The US saw deals dip to an 11 quarter low while Asia saw deals spike and nearly surpass the US in Q3’19: The US saw deals dip as a result of a pull back in early stage deals, which also contributed to the overall drop in 2019 global deals through Q3’19. Asia saw deals rebound as China reclaimed the
lead from India as Asia’s top deal hub.
Southeast Asia fintech topped new annual highs: Southeast Asia set a new annual record with $701M raised across 87 deals through Q3’19 . The top 2 deals since 2015 occurred in 2019: a $100M Series B to Singapore based Deserka and a $100M Series C to Vietnam based MoMo.
India and China continued to battle over the title of Asia’s top fintech hub in Q3’19: China saw deals surge to 55 in the quarter, reclaiming the lead from India with 33 deals. India saw $674M in funding, narrowly pulling ahead of China’s $661M.
Challenger banks have raised over $3B in 2019 YTD and Q3’19 saw $1.3B invested a quarterly funding high: Q3’19 saw challenger banks funding bolstered by rounds to unicorns, including NuBank’s $400M Series F, which was the largest reported equity investment to a challenger bank and made
NuBank the highest valued challenger at $10B. Startup focused challenger banks saw competition heat up with deals to Ramp Financial, Mercury, and Stripe, which launched card issuing.
There are 58 VC backed fintech unicorns worth a combined $213.5B: Q3’19 saw 6 new fintech unicorn births (Hippo, Judo, Deposit Solutions, QuintoAndar, Dave , and C2FO), and 3 more have occurred in Q4’19 as of 11/11/19 (Next Insurance, Ebanx , and Riskified ). Other highly valued unicorns continued to raise late stage capital, including NuBank, Gusto, and Stripe, among others, but none signaled an IPO was imminent.
InsureNXT-Unicorn session_Final 21 April 2021.pdfAlchemy Crew
These slides aim to share within our community the great achievements from unicorns.
The challenges to get there and the opportunities within our insurance world.
Innovate Finance’s 2017 VC FinTech investment landscape provides investors, startups and the wider FinTech ecosystem the data to understand trends and capital flows as the FinTech market evolves. Overall figures suggest that the UK has had its best year on record and was a global leader in terms of capital invested and deal volume, second only to the US.
CommerzVentures: the rise of the robo advisors from an investor’s perspectiveCommerzVentures
Over the course of the last few years, the so-called robo advisors have gained significant media coverage in the financial technology (Fintech) space. Invested assets in automated investment services more than doubled from 2014 to 2015 and no Fintech conference has taken place without a newly established robo advisor. Additionally, there have been inflows of hundreds of millions of dollars in venture capital backing into the start-ups behind the robo advisors. Betterment, for example, one of the most famous and largest robo advisors, raised USD100m venture funding in March 2016. We have also started to see the adoption of automated advice by traditional banks and investment managers. This article serves as an introduction to CommerzVentures and our view on the rise of the robo advisors.
Fintech overview for HEIG-VD lecture, December 2016Jérôme Vasamillet
Hello, I'd like to share a presentation I prepared for a lecture at the HEIG-VD engineering and management school in Switzerland, focusing on Fintech with a Global and Swiss overview. Being a long lecture in front of students in International Innovation Management, it looks at Fintech under various angles, and also presents the Startup Weekend Fintech Geneva which I co-organize, as a pre-Fintech startup experience. Hope you enjoy the pack! Jérôme.
InsurTech is changing the insurance industry. However traditional insurers still have very limited access to disrupting models. We examine the emerging models and explain the working model of Stave Partners. We are working with insurers for creating the next disrupting model.
Contact with us for more:
www.stavepartners.com | info@stavepartners.com
Tracxn Research — Insurance Tech Landscape, October 2016Tracxn
Our insurance tech report features an exhaustive Q&A with Patrick Kershaw and John Massey, Managing Partners at Leo Tech, and Andrea Traversone, Partner at Amadeus Capital Partners, who share their perspectives on market trends, investment outlook, areas of disruption, and more.
While insuretech has become a major area of interest among VCs, we recognize that few investors in the space have comprehensive knowledge of the industry. To better understand the complexities and opportunities in the space, we have compiled the research report posted below. The report provides an overview of the auto, homeowners, life, and health insurance sectors. We hope you find the presentation insightful and welcome comments and questions.
Diving deep into literally millions of interactions and conversations with different networks such as Facebook, Twitter and Instagram, blogs, forums and news sites in order to bring you analytical info about how social media affects different sectors like:Sharing Economy, Banking and Finance, Ecommerce, Telecom and Fintech.
Summary of findings
2018 VC-backed fintech deals and funding set an annual record: In 2018, - VC-backed fintech companies raised $39.57B across 1,707 deals globally. Deals were up 15% year-over-year while funding surged 120% on the back of 52 mega-rounds ($100M+) worth $24.88B combined.
Fintech is happening on global scale with deals outside of core markets (US, UK, and China) accounting for 39% of deals: Fintech deal hubs are starting to emerge globally. The count of unique fintech startups raising funding topped an annual high of 1,463 companies, and the unique number of investors reached 2,745 boosted by an influx of corporate investors.
Early-stage deals, as a percentage, fell to a 5-year low as investors concentrated bets in perceived winners: Global seed and Series A fintech deals grew 5% on an annual basis in 2018, but fell as a percentage of total deals to 57%. US early-stage deals were flat YOY as investors concentrated their bets in established fintech unicorns.
There are 39 VC-backed fintech unicorns worth a combined $147.37B: Q4'18 saw five new unicorns births (Plaid, Brex, Monzo, DevotedHealth, and Toss) and two in the first month of Q1’19 (N26 and Confluent). The cohort’s total valuation in 2018 was boosted by a record year for megarounds to existing unicorns, including Gusto and Robinhood, among others.
Redefining Growth Through Engagement DesignAlchemy Crew
This presentation has for purpose to provide Tech leaders, Investors, Established innovators with an overview on The Proposition Circle's approach to redefining and delivering unique customer engagements in highly disrupted and competitive markets.
CB Insights Global Fintech Report Q3 2019Jeff Martinez
Q3’19 fintech funding topped $8.9B, a quarterly record when adjusting for Ant Financial’s $14B investment in Q2’ As of Q3, fintech has raised $24.6B in 2019, already surpassing 2017’s annual total. Funding grew on the back of 19 $100M+ rounds worth approximately $4B in Q3’19.
Deals rebounded slightly in Q3’19 but are likely to fall short of 2018’s record as a result of a continued pullback in early stage investing: Fintech deals in Q3’19 grew 6% from Q2'19, but they have dropped in every quarter in 2019 when compared to the same time frame last year. Early stage (seed/angel and Series A) deals fell to an 11 quarter low and funding hit a 7 quarter low.
The US saw deals dip to an 11 quarter low while Asia saw deals spike and nearly surpass the US in Q3’19: The US saw deals dip as a result of a pull back in early stage deals, which also contributed to the overall drop in 2019 global deals through Q3’19. Asia saw deals rebound as China reclaimed the
lead from India as Asia’s top deal hub.
Southeast Asia fintech topped new annual highs: Southeast Asia set a new annual record with $701M raised across 87 deals through Q3’19 . The top 2 deals since 2015 occurred in 2019: a $100M Series B to Singapore based Deserka and a $100M Series C to Vietnam based MoMo.
India and China continued to battle over the title of Asia’s top fintech hub in Q3’19: China saw deals surge to 55 in the quarter, reclaiming the lead from India with 33 deals. India saw $674M in funding, narrowly pulling ahead of China’s $661M.
Challenger banks have raised over $3B in 2019 YTD and Q3’19 saw $1.3B invested a quarterly funding high: Q3’19 saw challenger banks funding bolstered by rounds to unicorns, including NuBank’s $400M Series F, which was the largest reported equity investment to a challenger bank and made
NuBank the highest valued challenger at $10B. Startup focused challenger banks saw competition heat up with deals to Ramp Financial, Mercury, and Stripe, which launched card issuing.
There are 58 VC backed fintech unicorns worth a combined $213.5B: Q3’19 saw 6 new fintech unicorn births (Hippo, Judo, Deposit Solutions, QuintoAndar, Dave , and C2FO), and 3 more have occurred in Q4’19 as of 11/11/19 (Next Insurance, Ebanx , and Riskified ). Other highly valued unicorns continued to raise late stage capital, including NuBank, Gusto, and Stripe, among others, but none signaled an IPO was imminent.
InsureNXT-Unicorn session_Final 21 April 2021.pdfAlchemy Crew
These slides aim to share within our community the great achievements from unicorns.
The challenges to get there and the opportunities within our insurance world.
Innovate Finance’s 2017 VC FinTech investment landscape provides investors, startups and the wider FinTech ecosystem the data to understand trends and capital flows as the FinTech market evolves. Overall figures suggest that the UK has had its best year on record and was a global leader in terms of capital invested and deal volume, second only to the US.
CommerzVentures: the rise of the robo advisors from an investor’s perspectiveCommerzVentures
Over the course of the last few years, the so-called robo advisors have gained significant media coverage in the financial technology (Fintech) space. Invested assets in automated investment services more than doubled from 2014 to 2015 and no Fintech conference has taken place without a newly established robo advisor. Additionally, there have been inflows of hundreds of millions of dollars in venture capital backing into the start-ups behind the robo advisors. Betterment, for example, one of the most famous and largest robo advisors, raised USD100m venture funding in March 2016. We have also started to see the adoption of automated advice by traditional banks and investment managers. This article serves as an introduction to CommerzVentures and our view on the rise of the robo advisors.
Fintech overview for HEIG-VD lecture, December 2016Jérôme Vasamillet
Hello, I'd like to share a presentation I prepared for a lecture at the HEIG-VD engineering and management school in Switzerland, focusing on Fintech with a Global and Swiss overview. Being a long lecture in front of students in International Innovation Management, it looks at Fintech under various angles, and also presents the Startup Weekend Fintech Geneva which I co-organize, as a pre-Fintech startup experience. Hope you enjoy the pack! Jérôme.
InsurTech is changing the insurance industry. However traditional insurers still have very limited access to disrupting models. We examine the emerging models and explain the working model of Stave Partners. We are working with insurers for creating the next disrupting model.
Contact with us for more:
www.stavepartners.com | info@stavepartners.com
Tracxn Research — Insurance Tech Landscape, October 2016Tracxn
Our insurance tech report features an exhaustive Q&A with Patrick Kershaw and John Massey, Managing Partners at Leo Tech, and Andrea Traversone, Partner at Amadeus Capital Partners, who share their perspectives on market trends, investment outlook, areas of disruption, and more.
While insuretech has become a major area of interest among VCs, we recognize that few investors in the space have comprehensive knowledge of the industry. To better understand the complexities and opportunities in the space, we have compiled the research report posted below. The report provides an overview of the auto, homeowners, life, and health insurance sectors. We hope you find the presentation insightful and welcome comments and questions.
Allianz Life North America – Reclaiming the FutureOpen Knowledge
In a comprehensive survey of U.S baby boomers, coupled with in-depth interviews with financial professionals, Allianz reveals the boomers’ attitudes to retirement planning, their expectations and strategies, and identifies five distinct financial “personalities”.
Reduced sources of income, greater longevity, and market volatility together present a major challenge to the baby boomer generation’s hopes and expectations for a comfortable retirement with guaranteed income, and are forcing them to rethink retirement
In this white paper, Allianz assesses this generation’s response and reveals several key findings which do provide some cause for optimism, in particular the many options Americans have at their disposal to address the three key challenges the baby boomers face.
Sie sind gut darin Applikationen zu entwickeln, daher sollten Sie Ihre Zeit nicht damit verschwenden Systemadmin Arbeit zu machen.
Lass Sie Bluemix sich um die Datenbanken kümmern!
Wir schauen uns in diesem Foliensatz die verschieden verfügbaren Datenbanken und analytischen Tools an.
10 Lessons for success
1. „Establish a robust project leadership.“
2. „Do only start an IT Mega Project once the bank can stand double the planned budget.“
3. „Build a conservative business case.“
4. „Prepare yourself that your program will not deliver on all objectives.“
5. „Make yourself familiar with your IT Landscape of your project.“
6. „Understand what problems do you want to solve with your mega project.“
7. „Take your time – not PPT, but make use of a test environment of your target IT Landscape.“
8. „First build some prototypes to learn about your core challenges.“
9. „Make yourself fit for the target landscape“
10. „Deconstruct your IT Mega Project in several smaller delivery units, that each create value, build on each other and help to achieve the common objectives.“
Do not repeat know failures
Set unrealistic objectives
Set political objectives
Provide not appropriate time for testing
Assign inexperience program management
Overestimation of one‘s own capabilities
Too much optimism
Believe you are unique
Mercer Capital's Value Focus: Insurance Industry | Q1 2016Mercer Capital
Mercer Capital’s Insurance Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to insurance brokers, underwriters, and other industry professionals. Each issue includes a segment focus, market overview, mergers and acquisitions review, and more.
Infographic: IBM Commerce for Insurance - 360 Degree Customer Experience!Lynn Kesterson-Townes
360° Customer Experience delivers compelling policyholder experiences that improve insurance customer loyalty and retention rates, optimize cross-sell and up-sell opportunities and maximize profitable customer growth by combining omni-channel customer engagement, customer analytics, and customer experience for service capabilities.
El Voluntariat per la llengua (www.vxl.cat) és un programa que impulsa la Direcció General de Política Lingüística i que el Consorci per a la Normalització Lingüística gestiona arreu de Catalunya des del 2003. Fins al 2013, s'ha format més de 80.000 parelles lingüístiques i té la col·laboració de més de 800 entitats i prop de 3.000 establiments.
Il corso serve per rendere operativi sulle funzionalità di base e di comune interesse di MS Visio. Dare una
informativa sulle funzionalità più evolute di MS Visio e fornire una chiara visione delle aree di applicabilità
di MS Visio. Creazione o revisione di schemi e disegni tecnici 2D.
termine del corso il candidato sarà in grado di utilizzare e gestire MS Visio Technical Edition Grafica.
One of the fastest growing concerns on insurers’ enterprise risk agenda is model risk
management. From being a phrase that primarily actuaries and other modelers used, “model risk” has become a major focus of regulators and the subject of intense activity and debate at insurers. How model risk management has evolved from ad hoc efforts to its currentproactive stage is an interesting story. But more interesting still is
what we believe could be its next stage – generating measurable business value.
Please find here our first Insurance Review on Digital Disruption of the Insurance sector. We've put together the best, most shared and liked articles on this topic. All articles have been published before on our Financial Services blog
Please find here our first Insurance Review on Digital Disruption of the Insurance sector. We've put together the best, most shared and liked articles on this topic. All articles have been published before on our Financial Services blog
Setting Up a Successful Insurance VentureCognizant
Precise business and operating model definitions can help insurers spin off ventures that stay ahead of customer needs and market requirements. Here are some lessons we’ve acquired by helping our clients establish winning ventures.
Beyond the secular forces that we describe in our Future of Insurance series1, more immediate and cyclical issues will be shaping the insurance executive agenda i n 2 016 .2 Commercial insurers (including reinsurers) face tough times ahead with underwriting margins that are being pressured by softening prices and a potentially volatile interest rate environment.
The uncertainty advantage presents a chance to go well beyond the typical meaning of risk management -- that is, seeking ways to achieve the best of the worst outcomes -- to create new and sustainable value out of confusion.
Igor Zax interviewed on Credit Insurance for Secured LenderIgor Zax (Zaks)
Igor Zax, Managing Director of Tenzor Ltd., was interviewed about credit insurance, among other industry leaders in Secured lender, a publication of Commercial Finance Association.
The article,
Trade Credit Insurance Proves to be a Useful Financial Tool
was written by, Eileen Wubbe, Senior Editor and also includes interviews with senior officers of credit insurers (Atradius, COFACE, EULERHermes), insurance brokers (Marsh, Arthur J. Gallagher) and Financiers (GE, EX-Works Capital).
Igor Zax also moderated credit insurance panel at Factoring and Trade Finance World, a major conference by Commercial Finance Association, that will be held in Miami 2-4 March 2015.
Understand the Value of Your InsurTech CompanyMercer Capital
Valuing an InsurTech company can be complicated and difficult, but carries important significance for employees, investors, and stakeholders for the company. While all InsurTech companies have differences, including what niche (distribution, claims, benefits, etc.) they operate in or what stage of development the company is in, understanding the value of the business is critically important.
Bancassurance is one of the most popular distribution channels for conventional insurance and takaful alike. Muhammad Ashfaq-Ur-Rehman explores the growth of the sector and looks at the challenges holding it.
I nostri intervistati si aspettano addirittura un nuovo tipo di
entità assicurativa emergerà entro il prossimo decennio,
come l'Internet delle cose, l'intelligenza artificiale
e blockchain convergono per creare smart, in tempo reale
soluzioni assicurative. Quasi sette su dieci
(69 per cento) ritiene che l'assicurazione verrà nuovamente intermediata
algoritmicamente a intervalli frequenti con un nuovo stile
di aggregatore assicurativo e il 91% si aspetta
questo avverrà entro un periodo di 15 anni.
Similar to CommerzVentures' white paper on InsuranceTech (20)
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Tobias Schneck
As AI technology is pushing into IT I was wondering myself, as an “infrastructure container kubernetes guy”, how get this fancy AI technology get managed from an infrastructure operational view? Is it possible to apply our lovely cloud native principals as well? What benefit’s both technologies could bring to each other?
Let me take this questions and provide you a short journey through existing deployment models and use cases for AI software. On practical examples, we discuss what cloud/on-premise strategy we may need for applying it to our own infrastructure to get it to work from an enterprise perspective. I want to give an overview about infrastructure requirements and technologies, what could be beneficial or limiting your AI use cases in an enterprise environment. An interactive Demo will give you some insides, what approaches I got already working for real.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
Connector Corner: Automate dynamic content and events by pushing a buttonDianaGray10
Here is something new! In our next Connector Corner webinar, we will demonstrate how you can use a single workflow to:
Create a campaign using Mailchimp with merge tags/fields
Send an interactive Slack channel message (using buttons)
Have the message received by managers and peers along with a test email for review
But there’s more:
In a second workflow supporting the same use case, you’ll see:
Your campaign sent to target colleagues for approval
If the “Approve” button is clicked, a Jira/Zendesk ticket is created for the marketing design team
But—if the “Reject” button is pushed, colleagues will be alerted via Slack message
Join us to learn more about this new, human-in-the-loop capability, brought to you by Integration Service connectors.
And...
Speakers:
Akshay Agnihotri, Product Manager
Charlie Greenberg, Host
The Art of the Pitch: WordPress Relationships and SalesLaura Byrne
Clients don’t know what they don’t know. What web solutions are right for them? How does WordPress come into the picture? How do you make sure you understand scope and timeline? What do you do if sometime changes?
All these questions and more will be explored as we talk about matching clients’ needs with what your agency offers without pulling teeth or pulling your hair out. Practical tips, and strategies for successful relationship building that leads to closing the deal.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
UiPath Test Automation using UiPath Test Suite series, part 3DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 3. In this session, we will cover desktop automation along with UI automation.
Topics covered:
UI automation Introduction,
UI automation Sample
Desktop automation flow
Pradeep Chinnala, Senior Consultant Automation Developer @WonderBotz and UiPath MVP
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using Deplo...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Ramesh Iyer
In today's fast-changing business world, Companies that adapt and embrace new ideas often need help to keep up with the competition. However, fostering a culture of innovation takes much work. It takes vision, leadership and willingness to take risks in the right proportion. Sachin Dev Duggal, co-founder of Builder.ai, has perfected the art of this balance, creating a company culture where creativity and growth are nurtured at each stage.
"Impact of front-end architecture on development cost", Viktor TurskyiFwdays
I have heard many times that architecture is not important for the front-end. Also, many times I have seen how developers implement features on the front-end just following the standard rules for a framework and think that this is enough to successfully launch the project, and then the project fails. How to prevent this and what approach to choose? I have launched dozens of complex projects and during the talk we will analyze which approaches have worked for me and which have not.
FIDO Alliance Osaka Seminar: Passkeys and the Road Ahead.pdf
CommerzVentures' white paper on InsuranceTech
1. CommerzVentures GmbH – confidential
CommerzVentures
Emerging Technologies Transforming the $4tn Insurance
Industry
A White Paper by CommerzVentures
Frankfurt, March 07, 2016
3. 2CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
About this White Paper
This white paper was compiled by CommerzVentures, the FinTech
Venture Capital fund of Commerzbank.
Our goal is to give an overview of key technologies which we
believe will transform the insurance industry. We hope to provide
insights into their potential uses in the context of the insurance value
chain.
We hope that this will allow readers to better assess the
developments within the space.
We identified the top 50 startups in the industry. Contact us via
info@commezventures.com if you believe you should be one of
them.
4. 3CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Executive Summary (1/2)
• 90 percent of all the data available worldwide was generated during the
last two years. New technologies enabling the generation and acquisition
of vast amounts of new data and powerful algorithms are about to
transform the $4tn global insurance industry beyond recognition.
• The entire insurance value chain will be transformed by technological
innovations such as artificial intelligence, connected devices, drones, new
payments, and the blockchain. Entirely new value propositions and
distribution methods will be enabled.
• There is a huge market for startups and incumbent insurers that embrace
the new technologies.
• Relative to the market’s size we feel confident that InsuranceTech
startups should have absorbed twelve times more funding than they have
thus far.
5. 4CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Executive Summary (2/2)
• To capture this vast opportunity startups and incumbent insurers need to
establish effective cooperation models, leveraging each party’s key
strengths.
• Effectively cooperating with startups may be the only way for incumbent
insurers to fend off potential competitors such as Google, Amazon,
Facebook and other non-traditional players.
• By analyzing 500 InsuranceTech startups across the world,
CommerzVentures identified 50 companies that are especially well
positioned to drive innovation in insurance.
• While one-third of these startups can be seen as disruptive to incumbent
insurers, most enable existing insurers to harness technology. Thus,
insurers have much to gain from fruitful collaboration with startups.
6. 5CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Contents
About CommerzVentures
Our View on InsuranceTech
Startup Landscape
7. 6CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Worldwide investments in FinTech companies with a clear focus on financial return.
Directly reports to the management board of the Commerzbank AG. Commerzbank’s CEO
chairs the investment committee.
Fast decision-making: Direct access to decision makers in all business units. Five deals
completed in Year 1.
Team with more than 25 years of experience in venture capital. Co-invested with Index,
Kleiner Perkins, USV, Redpoint, Sequoia, A16z.
Announced investments
CommerzVentures at a glance
8. 7CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Company background
HQ in Heidelberg
Founded: 2013
Series A funding from CommerzVentures, b-to-v,
Acton Capital, Capnamic, Iris Capital and Partech.
Operates in Germany. Works with 100+ insurance
companies.
Product/service
Mobile application offering digital management and
optimization of consumers’ insurance policies across
multiple providers.
Free for consumers, receives brokerage fees from
insurers.
Key innovations
Easy and seamless integration of users’ insurance
policies in the app.
Automatically discovers potential savings and
optimization of insurance coverage.
Our take-away
User-friendly solution aiming to increase consumer
interaction with the insurance product.
Targets relatively underserved markets such as young
professionals and first-time insurance seekers.
Insurance is one of our focus areas and GetSafe is our
first investment in the space
9. 8CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Contents
About CommerzVentures
Our View on InsuranceTech
1. Market Opportunity
2. Key Technologies Along the Value Chain
3. Which Players Will Win?
Startup Landscape
10. 9CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
InsuranceTech is one of the two major sectors within
FinTech
Source: Swiss Re, McKinsey
• Lending
• Retail Investments
• Capital Markets
• Payments/ FX
• Banking Infrastructure
• Distribution
• Underwriting & Risk
• Claims Management
• Risk Capital & Investment
Management
FinTech
BankingTech InsuranceTech
11. 10CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Source: World Economic Forum: The Future of Financial Services
“The most imminent effects of disruption will be
felt in the banking sector; however, the greatest
impact of disruption is likely to be felt in the
insurance sector”
12. 11CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Insurance represents the largest long-term opportunity in
FinTech
Source: Swiss Re, McKinsey
Global revenue pools ($, bn)
Payments
Investment
Lending
Insurance
481
851
1,628
4,778
13. 12CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Insurance CEOs feel more vulnerable to technological
disruption than other industries’ CEOs
Source: adapted from the PwC 2015 CEO Survey
Share of CEOs who see their industry vulnerable to disruption
Average of other major industries*
Banking & capital markets
Insurance
*automotive, retail, asset management, power & utilities, entertainment, pharma & lifescience, healthcare, and hospitality & leisure
60%
66%
73%
14. 13CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
BankingTech InsuranceTech
Startup funding 2008-2015
($ bn)
Relative to industry size, InsuranceTech has received
12 times less funding than BankingTech
Banking Insurance
Global revenue pool 2014 ($ tn)
3.7
4.7
Source: Swiss Re, McKinsey, Accenture, CB Insights, VentureScanner
41
4.6
15. 14CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
We see four generic opportunities for InsuranceTech
Source: Core Innovation Capital, Swiss Re
$3.1tn
1
2
3
4
Nature of opportunity Relevant revenue pool
$0.9tn
$0.7tn
New, tech-enabled products and business
models
Technologies to reduce risk/ number
of claims
Innovative distribution channels
Lower cost of claims processing
HUGE
16. 15CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Contents
About CommerzVentures
Our View on InsuranceTech
1. Market Opportunity
2. Key Technologies Along the Value Chain
3. Which Players Will Win?
Startup Landscape
17. 16CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Five rapidly emerging technologies are transforming
insurance
BlockchainNew Payments
• Usually based on smartphones or
card readers
• Allow quick mobile payments or
money transfers without traditional
banking
• A decentralized chain of timestamped
data blocks
• Data is automatically validated and
kept safe from alteration or tampering
Drones
• Remote controlled or autonomous,
unmanned vehicles
• Allow efficient oversight of individual
objects or large areas from a
distance
Artificial Intelligence
• Systems that autonomously adapt to
information and their environment
• Allows analyzing vast amounts of
data from disparate systems through
self learning algorithms
Connected
Devices
• Includes all Internet connected
devices, i.e. wearables, smartphones,
cars, household appliances, collecting
personalized data
• The collected data allows analytics
and informed decision making
18. 17CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
New technologies will impact every aspect of the insurance
value chain
Source: Adapted from SMA Research, Innovation and Emerging Technologies Survey 2015, n=147 insurance executives surveyed analysis, and own analysis
Strong Impact
Moderate
Impact
New
Payments
Blockchain
Distribution
Underwriting
& Risk
Claims
Management
Risk Capital
& Investment
Management
Artificial
Intelligence
Drones
Outside of this white paper’s scope: Rather
related to asset management FinTechs
Connected
Devices
19. 18CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
DronesConnected DevicesData from web and
internal sources
Connected devices and drones will provide new data
sources for the technologies transforming insurance
Claims
Management
Underwriting
& Risk
Distribution
• Real-time
• At point of demand
• Triggered by rules or
consumer intent
• Highly personalised products
• Dynamic behaviour-based
pricing
• Built-in-risk reduction
• Faster, lower cost processes
• Less fraud,
• Improved customer
experience
Low cost, high
performance
computing
Data
Low cost
hardware
New
Payments
Artificial
Intelligence
Blockchain
20. 19CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Contents
About CommerzVentures
Our View on InsuranceTech
1. Market Opportunity
2. Key Technologies Along the Value Chain
I. Artificial Intelligence
II. Connected Devices
III. Drones
IV. New Payments
V. Blockchain
3. Which Players Will Win?
Startup Landscape
21. 20CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Predictive analytics goes a step further, extrapolating
trends to predict the future
Artificial intelligence offers customer-centric use cases in
insurance distribution
Insurance use casesTechnological capabilities
• Determining over which channel customers are most
responsive and can best be reached
• Deepening of customer relationships, through KYC
initiatives and personalized contact
• Evaluating expansion targets and better preparing new
market entries
Artificial Intelligence allows effective analysis of vast
amounts of data to gain new insights
• Matching different types of insurance to create holistic
insurance portfolios and automatically suggesting new
insurance policies to clients
• Effective determination of cross-selling opportunities for
proprietary or third party goods and services
Risk Capital
& Investment
Management
Underwriting
& Risk
Claims
ManagementDistribution
Artificial
Intelligence
22. 21CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Predictive analytics goes a step further, extrapolating
trends to predict the future
Artificial intelligence offers various risk-reducing use cases
in underwriting and risk
Insurance use casesTechnological capabilities
• Assessing individualized data to improve risk models
o Reducing capital set aside for future claims
o Individualizing all customer insurance aspects
• Forming customer portfolios with negative risk correlation
• Analysis of internal procedures to speed up processes
and reduce costs
Artificial Intelligence allows effective analysis of vast
amounts of data to gain new insights
• Providing customers with individualized plans and
strategies to reduce risk
• Helping third parties, such as doctors, combat risks
before they even emerge
Artificial
Intelligence Risk Capital
& Investment
Management
Underwriting
& Risk
Claims
ManagementDistribution
23. 22CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Artificial intelligence reduces costs and fraud cases in
claims management
Insurance use casesTechnological capabilities
• Analyzing fraud patterns and similarities to assess which
claims are likely to be fraudulent
• Efficient comparison of contractor quality and price
• Better interaction between customers and automated
communication systems (bots)
Artificial Intelligence allows effective analysis of vast
amounts of data to gain new insights
Predictive analytics goes a step further, extrapolating
trends to predict the future
• Predicting when and where claims are likely to emerge,
allowing more efficient capital allocation and payouts
• Automatic intelligent suggestions to clients during the
claim filing process
Artificial
Intelligence Risk Capital
& Investment
Management
Underwriting
& Risk
Claims
ManagementDistribution
24. 23CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Contents
About CommerzVentures
Our View on InsuranceTech
1. Market Opportunity
2. Key Technologies Along the Value Chain
I. Artificial Intelligence
II. Connected Devices
III. Drones
IV. New Payments
V. Blockchain
3. Which Players Will Win?
Startup Landscape
25. 24CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Connected devices enable new business models and
communication channels in insurance distribution
Insurance use casesTechnological capabilities
• New business models, such as usage-based vehicle
insurance, become possible new offerings
• Winning low-risk customer segments with rewards for
“good behavior”
• Better insights into customer behavior and their attitudes
towards their insurer
Continuous measurement of individual data from
customers and their belongings (such as consumer
electronics or cars)
Seamless, detailed, continuous communication and
interaction with the insurer
• Push contextual insurance offerings to customers,
especially relevant for short-term instant insurance
• Offer new product bundles that combine insurance and
subsidized connected devices, to win over tech-
fascinated customer segments, such as millennials
Risk Capital
& Investment
Management
Underwriting
& Risk
Claims
ManagementDistribution
Connected
Devices
26. 25CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Continuous measurement of individual data from
customers and their belongings (such as consumer
electronics or cars)
Seamless, detailed, continuous communication and
interaction with the insurer
Connected devices can help to improve models, decrease
risks, and create new products
Insurance use casesTechnological capabilities
• More precise and personalized risk models
• Personalized data allows insights as to how customers
can reduce risks
• Reduction of risks as devices prevent negative
occurrences, e.g. an internet-connected door detecting
robberies
• Giving customers tools to measure and improve their
health or uphold the performance of their belongings, on
a continuous real-time basis
• Creating products that are an integral part of customers’
lives
Risk Capital
& Investment
Management
Underwriting
& Risk
Claims
ManagementDistribution
Connected
Devices
27. 26CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Continuous measurement of individual data from
customers and their belongings (such as consumer
electronics or cars)
Seamless, detailed, continuous communication and
interaction with the insurer
Connected devices can reduce fraud, while improving
customer experience in claims management
Insurance use casesTechnological capabilities
• Automated activation or validation of claims
• Existing fraud detection capabilities are improved and the
basis for new fraud detection capabilities is established
• Mobile-enabled claim activation and data input
Risk Capital
& Investment
Management
Underwriting
& Risk
Claims
ManagementDistribution
Connected
Devices
28. 27CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Contents
About CommerzVentures
Our View on InsuranceTech
1. Market Opportunity
2. Key Technologies Along the Value Chain
I. Artificial Intelligence
II. Connected Devices
III. Drones
IV. New Payments
V. Blockchain
3. Which Players Will Win?
Startup Landscape
29. 28CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Efficient assessment of large areas or individual
objects without human proximity being necessary
Drones reduce costs and add efficiency in underwriting
and risk
Insurance use casesTechnological capability
• Substitute human with drone visits, for quicker, more
precise, and less costly underwriting inspections
• Using drones to provide data on a continuous basis to
allow for more precise analyses and predictions
Risk Capital
& Investment
Management
Underwriting
& Risk
Claims
ManagementDistribution
Drones
30. 29CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Efficient assessment of large areas or individual
objects without human proximity being necessary
Drones improve capabilities while reducing costs in claims
management
Insurance use casesTechnological capability
• Substitute human with drone visits, for quicker, more
precise, and less costly claim inspections
• Increase inspections of lower-value items that would not
have been inspected previously, to reduce fraud
• Improved capabilities and reduced costs in post-
catastrophe claims settlement
• Decreased dependence on contractors’ assessments of
lower-value claims
Drones
Risk Capital
& Investment
Management
Underwriting
& Risk
Claims
ManagementDistribution
31. 30CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Contents
About CommerzVentures
Our View on InsuranceTech
1. Market Opportunity
2. Key Technologies Along the Value Chain
I. Artificial Intelligence
II. Connected Devices
III. Drones
IV. New Payments
V. Blockchain
3. Which Players Will Win?
Startup Landscape
32. 31CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Instant mobile payments with a cost structure that
makes transfers of minimal sums possible
New payments enable new business models and expansion
into new markets
Insurance use casesTechnological capability
• Expansion into and increased offerings in, emerging and
frontier markets as well as among the underinsured in
developed markets, as lower payment costs and
payments of smaller sums make these markets viable
• New business models such as short-term instant
insurance
• Insurance sales with connected devices as sales
channels
Risk Capital
& Investment
Management
Underwriting
& Risk
Claims
ManagementDistribution
New Payments
33. 32CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Instant mobile payments with a cost structure that
makes transfers of minimal sums possible
New payments offer more speed and security in claims
management
Insurance use casesTechnological capability
• Instant payments to customers as soon as claims are
validated
• New payout options, such as coupons
• Instant payments to contractors and claim adjusters
• Efficient cancellation of payments in case fraud is
detected
Risk Capital
& Investment
Management
Underwriting
& Risk
Claims
ManagementDistribution
New Payments
34. 33CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Contents
About CommerzVentures
Our View on InsuranceTech
1. Market Opportunity
2. Key Technologies Along the Value Chain
I. Artificial Intelligence
II. Connected Devices
III. Drones
IV. New Payments
V. Blockchain
3. Which Players Will Win?
Startup Landscape
35. 34CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Delivery of automatic trigger points for self-executing
contracts
Keeping data safe, validated, and time stamped
Blockchain technology allows contract automation and
increased security
Insurance use casesTechnological capability
• Full automation of claims processing and record-keeping,
drastically reducing fraud and speeding up processes
• Full automation of contractor and adjuster contracts
• Payment validation and documentation
• Heightened security of internal and external data as well
as processes
• Drastic reduction of paper based information and
processes
Risk Capital
& Investment
Management
Underwriting
& Risk
Claims
ManagementDistribution
Blockchain
36. 35CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Contents
About CommerzVentures
Our View on InsuranceTech
1. Market Opportunity
2. Key Technologies Along the Value Chain
3. Which Players Will Win?
Startup Landscape
37. 36CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Incumbents, big tech companies, non-obvious entrants and
startups will shape insurance to varying degrees
Capital
Novel data
Historical data
Regulation
Innovative
capacity
Customer
acceptance
Business model
fit
• To assess what role each of the players is likely to hold, we compared the insurance-specific
strengths and weaknesses of each type of player
• The strengths and weaknesses are summarized along criteria essential to shaping the future of
insurance, in a radar diagram
38. 37CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Incumbent insurers have recognized the potential of
technology, but are limited in their innovative scope
While incumbent insurers are willing to implement changes, they are likely to require
partners for innovation
Source: Bain & Company Global Digital Insurance Benchmarking Report 2015
• New technologies are often relegated to being topics of
future instead of current importance
• 60% of insurers feel they lack the internal capabilities
necessary to allow digital transformations
• Many insurers are limited in implementing technologies
due to legacy IT and paper-based infrastructures
• Insurers generally lack the ability to use data from new
sources such as social media or wearables
• Organizational inertia prohibits full-scale innovation
• Incumbent insurers possess capital, historical data sets,
regulatory knowledge, and a customer base, which
ensures them a major role
• Most insurers realize the potential and importance of
technology
• Some insurers have begun to actively search for and
integrate technology by directly investing in startups,
using accelerators, or by forming internal innovation
teams
Capital
Novel data
Historical
data
Regulation
Innovative
capacity
Customer
acceptance
Business
model fit
+ -Positive drivers Negative drivers
39. 38CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
• Vast amount of consumer and GIS data, along with
cloud computing would allow insurance to be based on
more precise risk models, and to be sold using
contextual triggers
• These companies possess large, loyal customer bases
and understand customer needs
• Google has driverless cars and smart home devices,
while Apple has its Healthkit initiative, both of which
may serve as entry points
• Directly offering insurance would cannibalize
advertisement revenues and may not be a good fit for
brand images
• Strict unharmonized regulations make global expansion
difficult
• Building up historical data sets would take much time
• Insurance is not perceived as attractive to internal
engineering teams
• Limited commitment has been shown thus far
Big tech companies (Google, FB, Apple, Amazon) have vast
data resources, but are unlikely to fully enter the market
It is unlikely that big tech companies will enter insurance on a large scale, instead they
will form partnerships to create more accurate risk models
+
Capital
Novel data
Historical
data
Regulation
Innovative
capacity
Customer
acceptance
Business
model fit
-
40. 39CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Telcos, vertical entrants and other financial service
providers will gain importance
Direct full scale entry is unlikely; however, limited-scope involvement is probable for all
of them
• They possess vast stores of data that can be used
to create more precise risk models
• Burdensome regulation, lacking historical data and
expertise, as well as unaligned business models
+
TelecomVertical
entrants
FS
providers
Capital
Novel data
Historical
data
Regulation
Innovative
capacity
Customer
acceptance
Business
model fit Telecom
Vertical entrants
Financial service
providers
-
• Burdensome regulation, lacking historical data and
expertise, as well as unaligned business models
• Involvement is legally prevented in many countries,
furthermore negative public images make competing
with established and trusted insurers difficult
• Some industries, such as the automobile,
healthcare, or real estate industries may directly
offer insurance related to their products
• Financial institutions posses the capital and data
related capabilities to become active in insurance
41. 40CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
• Many startups have the capabilities and expertise
necessary to develop and market new technologies
• Systems and processes can be created from scratch
without preexisting legacy structures
• Many of the new insurance-shaping technologies
require limited capital and manpower to develop
• Startups understand and deliver customer centricity
• Funding for the InsuranceTech industry has been
increasing
• Regulatory requirements are very high, creating
significant barriers to full-scale entry
• Attaining the historical data to develop risk models is
challenging
• Regulation severely impairs expansion across
international and even intra-national state borders
• As insurance is largely based on trust there may be
some biases against young companies’ untested
concepts
Source: Bain & Company Global Digital Insurance Benchmarking Report 2015
Startups are best positioned to innovate, either enabling incumbent insurers or
disrupting individual parts of the value chain
Startups will drive innovation and form partnerships
+
Capital
Novel data
Historical
data
Regulation
Innovative
capacity
Customer
acceptance
Business
model fit
-
42. 41CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Contents
About CommerzVentures
Our View on InsuranceTech
Startup Landscape
43. 42CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Characteristics of promising InsuranceTech
startups
• Impact: potential either to enable or disrupt the
insurance value chain by using technology
• Focus: Innovative and clearly defined business model
• Setup: Young and independent companies led by
entrepreneurs
• Outlook: Successful exit conceivable for (prospective)
investors
CommerzVentures identified the 50 most transformative startups along the
insurance value chain; contact us if you think that you should be one of them
44. 43CommerzVentures GmbH Frankfurt a.M. | March 07, 2016
CommerzVentures
Most of the 50 leading InsuranceTech startups are active in
distribution and enable insurers, rather than disrupting them
50%
32%
13%
5%
Share of startups along the value chain
Distribution
Underwriting & risk
Claims management
Risk capital & investment management
68%
32%
Share of enablers vs disruptors
Enablers Disruptors