In England and Wales alone, 5 million people live in flood risk areas. With one in six homes in England at risk of flooding, 2019 has put this figure to the test, with November bringing countless flood alerts, transportation closures and evacuations. The ensuing wave of insurance claims will certainly require a great deal of […]
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The travel sector is another industry that is beginning to benefit from Insurtech, according to a recent article in Phocuswire. Phocuswire references a report by the World Economic Forum (WEF) that asserts how the aviation, travel and tourism industries have been at the forefront of digital disruption for some years. In short, smart devices were […]
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Marketexpert24 asserts how the Insurtech market is set to experience what it refers to as ‘phenomenal growth from 2019 to 2027’, with the market registering a CAGR (compound annual growth rate) of over 41% by 2027. Whilst Property Casualty 360 states that, although there may be fewer Insurtech startups entering the market this year, investment […]
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Entrepreneur magazine states that, according to the FBI, insurance fraud (and that’s non-health insurance fraud) each year is a staggering $40 billion in the US and high levels of insurance fraud are echoed across the UK too, according to Insurance Age. As well as big data and AI helping to detect and stamp-out insurance fraud, […]
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Intelligent Insurer asks the question “Insurtech: Should we believe the hype?” With the term being coined in circa 2015, Insurtech refers to digital innovation to improve the insurance industry model through efficiencies, innovation and/or better analytics. The answer to the question is of course yes. As insurers strive to streamline the customer experience throughout the […]
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Managing teams and subcontractors across multiple construction sites brings with it a number of challenges: is the work being undertaken on time and to the correct standards? The UK construction industry comprises some 314,590 firms, with 260 of these employing 300 workers or more. claimsplanet app enables these companies to assign jobs to any worker […]
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With the UK rental market booming, techniques and processes to increase accuracy and productivity across all rental administrative processes will result in significant time and financial savings. From the initial inventory meeting, through to the property checkout, claimsplanet app is proving to be a valuable tool that can be integrated into the letting cycle to […]
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With more and more new car registrations being lease vehicles, leasing companies strive to manage the ‘before’ and ‘return’ states of their vehicles more effectively. With every single dint, scratch, dent, chip and scuff needing documenting and processing, claimsplanet is proving to be a very reliable, foolproof and efficient tool to ramp-up efficiency in the […]
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Insurance Age details this week how InsurTech UK, the UK association that represents UK-based Insurtech companies, has announced that it is currently welcoming 17 new members, growing the trade body to an impressive 86 members. Welcome news then that The Actuary magazine reports that insurance technology firms attracted a record £2.4bn of investment in the […]
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The UK is experiencing a migration of insurance business as Brexit approaches, according to Bloomsberg. With the EU’s insurance and pensions regulator having ordered every UK-based underwriter to transfer policies held by European clients to units on the continent, some £61billion-worth of business is shifting to countries such as Belgium, Luxembourg and Ireland, regardless of […]
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