U$ Disrupted - Launch issue
Editorial by Tom Bobrowski
Welcome to U$ Disrupted, our new platform focused on the US insurance market.
TDI subscribers enjoy access to a robust portfolio of content built around TDI’s two foundational pillars: knowledge (DIA, DIL) and community (Global LiveFest). You can count on U$D to blend a bit of both, delivering timely analysis on disruptive trends, often straight from the minds of the disruptors themselves.
This month I outline the size, importance and challenges of the US market, as well as ask what are the big ideas in insurance? What do insurance customers want? And how a better way of answering those question may be to ask what will insurance customers never not want?
Enjoy the launch edition.
Head, North America, The Digital Insurer
AXA has acquired Maestro Health, a Chicago-based US health benefit administration digital company for a total consideration of US$155m. It will operate as a 100% owned subsidiary of AXA.
A Boston-based telehealth platform called American Well has received US$59.2m investment from Allianz X, the digital investment unit of Allianz
State Farm is moving towards a multi-channel distribution model which will involve integrating the capabilities of State Farm’s InsurTech investments in addition to co-coordinating State Farm’s offline distribution methods with its online lead generation activities.
Espire Infolabs (a global CRM provider) and Pitney Bowes (a logictics firm) have launched the Customer Engagement Hub, to help insurers and intermediaries implementation, analysis, support and optimisation of the customer journey across multiple platforms.
AXA, Alibaba and Ant Financial Services have agreed a global partnership to jointly explore opportunities to distribute AXA’s products via Alibaba’s global ecommerce ecosystem, benefiting both the businesses and consumers that transact via Alibaba’s marketplaces
MSIG Insurance and DBS Bank have joined forces to launch Singapore’s first instant electronic settlement service for travel insurance claims
Named after a town in Switzerland where a group of insurance practitioners first met to discuss the use of distributed ledger technology, Ruschlikon is an industry wide initiative to speed up claims processing by up to 30%.
The ODM solution helped Allianz build customer facing capabilities needed to meet evolving customer expectations
MetLife, a U.S.-based life insurer, launched MetLife Wall in 2013, a Facebook-like app that aims to speed up interactions between service agents and customers to extend customer centricity
Insurers have historically prioritised products and traditional distribution channels above customers and their needs. However, the emerging digital landscape requires a more customer-focused approach.
Beyond connected car insurance, connected homes are the logical next frontier in the IoT-driven productisation journey for insurers