It is rumbling in the market: Initial reports indicate that Amazon is setting up its own insurance department in London. Currently, more than 100 insurance experts are to be employed there.
The story of the Tower of Babel tells how a mammoth project failed when those involved were no longer able to speak the same language. A similar effect is currently emerging in the relationships between insurers and their industrial customers.
In the SME segment, commercial and industrial insurers have many opportunities to win new customers and thus increase their premium income. However, this area in particular is undergoing major change.
Innovative technologies, in which insurance companies invest hundreds of millions of euros, make completely new applications possible. The focus here is on transmitting data in real time via microservices or similar technologies.
Many well-known Internet companies - such as Amazon, Twitter, Netflix or Uber - have built their platforms with microservices. This technology also offers numerous new opportunities in the insurance sector and can trigger innovations that extend to all areas of the company.
Industrial insurers are facing major problems at the moment. Significantly higher loss ratios and increasingly fierce competition mean that the classic form of insurance is no longer profitable. For this reason, it is necessary to review the existing business models.
Agility has been a hugely overhyped concept for quite some time. From two-guys-in-a-garage startups to globally active corporations or public sector contracting authorities, more...
The many current project examples of the insurance industry like AI or Chatbots show that it makes no sense to develop the future if to the present day flaws exist. The point is that automated processes can only be as good as the data available to the
The assessment of the risks of globally operating companies is becoming increasingly complex. The task of the risk manager is to ensure stability and predictability in this environment. Digital technology offers a wide range of possibilities for processing the extensive data material required for this
Industrial insurers rely on digitization The digitization of industrial insurers is progressing. Sales and customers are placing ever-increasing demands on insurers. Therefore, the use of...