Insurance Weekly News: CW 23

Overview of the latest insurance news

#Insurance

New symbiosis between Insurtechs and insurers? (GER)

For a long time, established insurance companies have struggled with the new digital competition. Meanwhile, the insurance groups are making use of the digital know-how of the newcomers – also in industrial and commercial insurance. http://versicherungswirtschaft-heute.de/schlaglicht/neue-symbiose-zwischen-insurtechs-und-versicherern/

Friday technology platform becomes full insurance (GER)

The digital insurance platform Friday is repositioning itself: To date, the company has used an insurance licence from the Baloise Group to meet all legal and regulatory requirements. Now Friday becomes a full insurance company and independent. For the first time in Germany, the platform offers motorists car insurance with kilometre precision. www.versicherungsmagazin.de/rubriken/branche/friday-ist-nun-vollversicherung-2169563.html/

Chubb Boosts Cyber Risk Underwriting with CyberCube Analytics Software

The vendor’s software will supplement the insurer’s ability to quantify and better understand systemic risks across its commercial cyber portfolio. http://iireporter.com/chubb-boosts-cyber-risk-underwriting-with-cybercube-analytics-software/

#Digitization

Study: Robots and artificial intelligence move into the insurance industry (GER)

The new study “Insurance 4.0 – Insurance in the digital triangle” predicts that the majority of standard claims recording cases will in future be handled by intelligent systems such as chatbots and robo-advisors. Only in complicated cases are experts consulted. This development is also reflected in sales. www.it-finanzmagazin.de/studie-roboter-und-kuenstliche-intelligenz-ziehen-in-die-versicherungsbranche-ein-71427/

Württembergische Versicherung will use Alexa in the future (GER)

Many established insurers want to expand the potential for new business to new customer segments and open up additional sales channels with digital products. The Württembergische Versicherung therefore relies on Amazon’s virtual language assistant Alexa for communication. www.cash-online.de/versicherungen/2018/neuer-service-alexa-wird-lotse-bei-der-wuerttembergischen/425520