Sign up and be the first to know

About Hugh Terry & The Digital Insurer

Hugh Terry & The Digital Insurer Video

Contact Us

1 Scotts Road
#24-10 Shaw Centre
Singapore 228208

Write an article

Get in touch with the editor Martin Kornacki

email your ideas at martin.kornacki@the-digital-insurer.com

Pre Registration Popup

itcasia2020 Registration Popup

Share Popup

Prime Member: Find out more

Access a unique programme!
  • 56 pre recorded lesson of online content from industry experts over 7 courses
  • The best in digital insurance for practitioners and by practtioners
  • Online MCQ after each lesson
  • Join the discussion forum and make new friends
  • Certificate upon completion to show your expertise and comitment
  • 3 months to complete
  • Normal price US$1,400 Your Prime member price is US$999
  • Access to future versions included in your Prime membership!
Become a member

Prime Member: Contact Us

REach out to us. Please fill up the form below
  • Let us know how we can help. You can expect a response within 24 hours

AXA AND INSURTECH – AXA presentation

[ff_author_box_style2]

Article Synopsis :

This brief presentation from AXA highlights the impact of new technologies on  insurance business models, outlines key challenges, and identifies how traditional insurers are responding to the new nature of competition from InsurTechs.

 The Digital Insurer reviews AXA’s Report on AXA AND INSURTECH

InsurTech from the large carrier – rather than consulting – perspective 

According to AXA, the key tensions driving the InsurTech phenomenon are:

  • Human-centric versus machine-driven
  • Financial inclusion versus discrimination
  • Transparency versus black-boxes of algorithms and data processing
  • Empowerment versus paternalism
  • Solidarity versus customized ‘segment-of-one’ offers

AXA’s view is old methods are increasingly ineffectual, even counterproductive, and incumbents need to adapt, including partnering and investing in InsurTechs. Three points of advice for moving forward positively include:

  • Do not stay alone: Partner with small and large new players
  • Test: Diversify pilots internally and externally
  • Be clear on what you focus on: Not technology but customers. Listen to new customer expectations and partner with customers, rather than just making them pay

Link to Full Article:: click here

Digital Insurer's Comments

We like this report because it examines the InsurTech phenomenon from the carrier—rather than the consulting—perspective. Interesting is AXA’s focus on the ‘tensions’ driving InsurTech proliferation.

Human-centric versus machine-driven, financial inclusion versus discrimination, empowerment versus paternalism, and solidarity versus ‘solutions-of-one.’ In every case it’s old versus new and incumbent carriers dominate the old. Transparency versus black boxes of algorithms? At present, there’s nothing at all transparent about insurance. That’s the problem. Black boxes of algorithms may actually help clarify the process.

Link to Source:: click here

Comments

';

Livefest 2019 Register Popup Event

Livefest 2019 Already Registered Popup Event

Livefest 2019 Join Live Logged-in Not Registered

Livefest 2019 Join Live Not Logged-in