Information has been the lifeblood of businesses during this century, and corporates have evolved over the last two decades accessing, processing and monetising exponentially growing volumes of data. It has also exposed new risks around trust, security, transparency (or lack thereof), privacy and related trade-secrets. The global economic slowdown following the 2008 mortgage crises in
The report, which aimed to compare the intelligence of various AI systems, found that in 2016, Google’s AI had an IQ of 47.3, ahead of Chinese search engine Baidu (33), Microsoft’s Bing (32), and Siri (24). But while Google’s AI leads the tech pack, it has a long way to go before it comes close
For much of the past year, Swiss Re has been working on proving if blockchain technology could be viable for the insurance industry. It has been a year full of belief, promises and hands-on experience, which has enhanced our perspective and enabled us to be ready at every stage of this evolving and promising technology.
Swiss Re together with a group of Europe’s biggest insurers have joined forces in an attempt to put Blockchain through its paces to evaluate whether the technology can help make the insurance industry more efficient. Aegon, Allianz, Munich Re, Swiss Re and Zurich have launched the Blockchain Insurance Industry Initiative B3i aiming to explore the
Aviva has made no secret of the fact that it sees its digital operations as being crucial to its future – and now it has taken another step along the technological path by announcing a huge deal for a robo investment service. The insurance giant will acquire a majority shareholding in Wealthify Group Limited, the holding
“Not Google nor Facebook: Most valuable company will be an insurance company.” With a headline like that, how could you resist not reading the article? Its author, Julian Teicke, makes the case for insurers ultimately becoming dominant players in the digital world. That’s because data will define value in the emerging online consumer market, and trust
The insurance industry felt the first wave of insurtech with the emergence of the internet in the 1990s when bricks-and-mortar commerce slowly made its way on to the web. At the time it seemed like a life-changing disrupter for agencies across the globe, but it was only a glimpse at what was to come. Now,
Ping An Insurance China announced the launch of 10 innovative services backed by the world’s leading AI technology. The services are jointly launched by the Group’s subsidiaries, including life and P&C insurance, annuity, bank, credit card, securities, Caifubao, Lufax, Puhui, Ping An Good Doctor and Ping An Technology. Most of these innovative services are the first of
Incumbents need to keep their eyes out for new entrants that use technology to create a strategic advantage. The size of their share in the next generation of the insurance industry is at stake. New, technology savvy players are entering the insurance sector, bringing the full force of their innovative, disruptive, opportunity-laden power. They will
In our recent fintech report “Money of the Future,” we’ve talked about $3 billion in new investments in 2015 in insurtech. Sounds impressive, doesn’t it? Auto insurance companies just in the U.S. spend a total of $6 billion in advertising each year. It means you are a “customer-oriented” and “tech-advanced” company when you are spending
