Collaboration necessary to advance insurtech - Business Insurance

Collaboration will enable the way forward as the insurance sector adopts and deploys new technologies, according to two company CEOs who stressed partnerships Wednesday at the InsureTech Connect Conference in Las Vegas. "Regardless of the challenge, I believe there's a better way," said Tony Kuczinski, president and CEO of Munich Reinsurance America Inc. in Princeton, New Jersey. "I believe that by joining forces, we have a better chance a leveraging new ways of thinking, new technology and data, and other areas." "We have more partnerships now than at any time in our history," said Dan Glaser, president CEO of Marsh & McLennan Cos. Inc. Munich Re's own effort to accelerate the claims process in the wake of a catastrophe event involved pulling in expertise from within and outside the company, and even included a seasoned claims adjuster using his field experience to help inform an artificial intelligence system, according to Mr. Kuczinski. Mr. Glaser also said progress was a matter of priorities and focus.