Why advisers should not be cynical about 'InsureTech'

clock • 4 min read

Protection intermediaries may raise a cynical eyebrow at the phrase 'Insuretech' but it represents a significant change in industry thinking, says Paul Lindsell.

We may be on the cusp of the transformation of protection insurance as data and technology combine to make underwriting more accurate, timely and effective while making protection advice more efficient in the process. The term employed by insurers the big consultancies and those seeking start up investment to describe this shift is InsureTech. Protection intermediaries may raise a cynical eyebrow at yet another trendy catch-all phrase, but we think it does describe a substantial shift in insurance industry thinking and, increasingly, in practice. First it is clear that underwriting...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

Half of UK adults do not have a will: Canada Life

Half of UK adults do not have a will: Canada Life

61% of those who wrote their own will did not seek advice

Jaskeet Briah
clock 22 March 2024 • 2 min read
Aviva pays out £1.18b for individual protection claims in 2023

Aviva pays out £1.18b for individual protection claims in 2023

Over £413m paid out across group protection

Jaskeet Briah
clock 21 March 2024 • 3 min read
Beneficiary nomination used on 68% of Guardian's life insurance policies

Beneficiary nomination used on 68% of Guardian's life insurance policies

Accounted for 74% of life insurance claims paid

Jaskeet Briah
clock 20 March 2024 • 2 min read