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Oliver Wyman

Oliver Wyman is our official partner for the APAC Insurer Innovation Awards.

Oliver Wyman is a global leader in management consulting. With offices in more than 70 cities across 30 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation.

The firm has more than 5,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a business of Marsh McLennan [NYSE: MMC]. For more information, visit www.oliverwyman.com.

Arthur D. Little

Arthur D. Little has been at the forefront of innovation since 1886. We are an acknowledged thought leader in linking strategy, innovation and transformation in technology intensive and converging industries. We navigate our clients through changing business ecosystems to uncover new growth opportunities. We enable our clients to build innovation capabilities and transform their organizations. Our consultants have strong practical industry experience combined with excellent knowledge of key trends and dynamics. ADL is present in the most important business centers around the world. We are proud to serve most of the Fortune 1000 companies, in addition to other leading firms and public sector organizations. For further information, please visit www.adlittle.com

FINNOVATING

Finnovating is a Matching as a service platform that enables X-Techs from all around the word to connect , collaborate and get the funding they need to grow from investors and corporations globally. The Finnovating platform is a space were the key players of the Tech industry can connect together easily and boost global Tech innovations.

SØNR

Sønr is the world’s most comprehensive source of innovation intelligence. It is a subscription platform used by some of the best known insurance companies globally.

It tracks millions of companies around the world and provides insight on the latest market trends, the startups and scaleups reshaping the industry, and intelligence on how other big insurers are innovating.

Sønr includes a suite of tools designed for teams to better collaborate and connect. From recording meetings to capturing and sharing Notes, to being able to track and share activity across the company using Watchlists and CRM boards.

The platform is backed up by a team of consultants, researchers and analysts who support clients in discovering and creating new business opportunities.

Flock – Pay as you fly Drone insurance

In Action Summary

Allianz and Flock, a UK based InsurTech, are set to launch the first pay-as-you fly drone insurance later this year for the UK market. The coverage can be tailored to each flight through the Flock app at the touch of a button.

How it works?

To access flight data , Flock has partnered with local aviation and weather providers to aggregate real-time info on flight data, operator profiles, and hyper-local weather conditions.

Flock’s algorithm then utilises this data to quantify the risk involved on a flight by flight basis and Allianz provides the underwriting on the spot so that you can spend your time flying, and not worrying about insurance.

Flock’s algorithm uses drone and local data to quantify the risk involved and prices your insurance underwritten by Allianz on the spot

Flock’s differentiation is that it allows users to pay for drone insurance only when users need it. As real-time pricing is risk-dependent, the safer you fly, the less you pay.

Ultimately, as new use cases for commercial drone usage such as claims inspection, aerial security and goods delivery continue to emerge, it is fast becoming a multi-billion dollar industry. Additionally, with Allianz expecting the number of Unmanned Aircraft Systems (UAS) in the UK to triple and the market for commercial applications of UAS technology to reach $127 billion by 2020, drone insurance seems like a niche market that is worth entering early. And by partnering with Flock, a key innovator in thee space, Allianz are positioning themselves favourably.

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