If you think embedded insurance is the only hot thing in insurtech these days, we've got a surprise in store for you: While it's true that startups that help sell insurance together with other products and services are enjoying tailwinds, there are plenty of other opportunities in the space, several investors told TechCrunch . You see, insurtech startups often need to take into account the myriad rules and regulations in place when they seek to innovate and embed insurance into products, which might make it difficult to pull it off. Given the current emphasis on achieving cost efficiency to extend runways in the broader startup ecosystem, it appears investors are open to insurtech startups that can build a sustainable business model, regardless of it including embedded insurance. "Insurtech startups that do not offer embedded insurance, and rather provide other innovative solutions will still attract VC funding this year, especially if they can show cost-efficient and sustainable growth," said Nina Mayer, a principal at Earlybird. And according to David Wechsler, a principal at OMERS Ventures, "having an embedded strategy is not required for venture funding."

If you think embedded insurance is the only hot thing in insurtech these days, we've got a surprise in store for you: While it's true that startups that help sell insurance together with other products and services are enjoying tailwinds, there are plenty of other opportunities in the space, several investors told TechCrunch . You see, insurtech startups often need to take into account the myriad rules and regulations in place when they seek to innovate and embed insurance into products, which might make it difficult to pull it off. Given the current emphasis on achieving cost efficiency to extend runways in the broader startup ecosystem, it appears investors are open to insurtech startups that can build a sustainable business model, regardless of it including embedded insurance. "Insurtech startups that do not offer embedded insurance, and rather provide other innovative solutions will still attract VC funding this year, especially if they can show cost-efficient and sustainable growth," said Nina Mayer, a principal at Earlybird. And according to David Wechsler, a principal at OMERS Ventures, "having an embedded strategy is not required for venture funding."

AF Group companies will use CLARA's industry-leading technology platform to identify the health care providers best suited to help injured employees recover successfully and return to work quickly. AF Group comprises seven affiliated insurance brands that provide innovative, specialty insurance solutions. AF Group companies utilize industry-leading best practices, analytics and resources to help manage risk and minimize losses for policyholders -- and always strive to provide injured workers with security, compassionate care, and the opportunity to return to work as soon as possible. "Innovation in data analytics is a key pillar in our strategy to be the best at what we do, maintaining a culture of claims excellence and compassionate care for our customers," said Paul Kearney, Chief Claims Officer at AF Group. "Returning to work after an injury helps employees rebuild their livelihoods and restore their quality of life. AF Group companies help those workers using a multifaceted approach that incorporates data analytics, evidence-based medicine, and smart technology. CLARA Analytics aligns nicely with that strategy -- helping injured employees recover quickly while also minimizing losses for policyholders and improving our claims management processes."

BOSTON--(BUSINESS WIRE)--Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions for the insurance industry, announced that the company has joined Guidewire's Insurtech Vanguards program, a new initiative led by property and casualty (P&C) cloud platform provider Guidewire (NYSE: GWRE), to help insurers learn about the newest insurtechs and how to best leverage them. "Guidewire is one of the most recognized platform providers in the insurance industry today and we are proud to be working with the company," said Stan Smith, founder and CEO, Gradient AI. "As a part of the Guidewire Insurtech Vanguards program we look forward to helping insurers improve underwriting and claim processes with our AI-power insurance solutions." Insurtech Vanguards is a community of select startups and technology providers that are bringing novel solutions to the P&C industry. As part of the program, Guidewire provides strategic guidance to and advocates for the participating insurtechs, while connecting them with Guidewire's P&C customers. "Gradient AI is an effective, innovative, and proven insurance solution providing insurers the intelligence needed to significantly improve their efficiency and profitability in claims and underwriting operations," said Laura Drabik, chief evangelist, Guidewire.

Over the past 13 months, consumers have grown used to the flexibility and convenience of a lifestyle that is more online than ever before. With the rapid progress of this digital shift, businesses are gaining access to more and more consumer data, and the tools for leveraging this data to personalize consumers' experiences are becoming more refined. As consumers grow used to on-demand services and experiences, so do businesses, expecting solutions that meet their specific needs on a moment-to-moment basis. Demandoo, an on-demand insurance provider based in Tel Aviv, Israel, is taking this mindset to the insurance industry, using artificial intelligence (AI) to provide case-by-case risk assessment and offer insurance solutions that meet the specific needs of each customer. Now, the company has partnered with Pizza Hut Israel to insure the company's eBike delivery fleet, a vehicle overlooked by traditional insurance providers.

The global healthcare market was valued at $8,452 Bn in 2018 and the market is expected to grow at a CAGR of 8.9%. The healthcare costs are also rising, and the industry is actively involved in not only reducing the costs of care but also enhancing the overall caregiving. AI technology has mighty applications in the industry, and the outcomes are going to be revolutionizing and impressive if adopted properly. The AI application in healthcare will work towards reducing spending and improving patient outcomes. Currently, the influence of AI in healthcare is still at its nascent stage.

DURBAN - Across the globe, trends in technology, economics and socioeconomics are culminating to disrupt the way entire industries operate and deliver products and services to consumers. When it comes to the impact of technology, there is no industry riper for disruption than the financial services sector, including insurance, which for the longest time remained trapped in outdated product development and delivery models. That has changed, and today we're seeing the pace of change and meaningful innovation in the insurance sector escalating. Not only is the existing insurance model from advice, underwriting, onboarding, risk management, servicing, and claims processing being turned on its head, but new product solutions are now possible for market sectors that have been entirely underserved and marginalised by the formal economy. Until now, most innovation in the insurance sector has been internally focused with little direct value to the customer.

By using artificial intelligence (AI), the cyber insurance solution from XL Catlin will generate real-time alerts to customers and help them to better handle their risk postures. The new cyber insurance solution, which will be subscription and usage-based, will feature services designed to aid clients in preparing for cyberattacks. It will be available on-demand for SMBs, said Slice Labs. Slice CEO Tim Attia said: "The new economy is not only on-demand but it is heavily dependent on protecting technology assets due to the rapidly changing landscape of cybersecurity threats. "Insurers are no longer in a position where they need to suspend or delay an idea for lack of technology or financial resource contracts.

The title was inspired by the 1996 documentary "When We Were Kings" about the heavyweight fight of 1974 between two boxing legends, Muhammad Ali and George Foreman. In the not-so-distant future, it will also be a fitting phrase for many in the banking and insurance industries. Readers may ask themselves why I'm talking about banking and insurance in such doom-ridden terms. My bleak forecast doesn't stem from the notion behind the common fintech (financial technology) and insurtech (insurance technology) industry pitch that they will change their respective industries with innovation and better customer experiences. Although I firmly believe that some of the startups will cause significant pain to the incumbents and will indeed change their respective industries.

The title of this post was inspired by the 1996 documentary "When We Were Kings," about the heavyweight fight of 1974 between two boxing legends, Muhammad Ali and George Foreman. In the not-so-distant future, it will also be a fitting phrase for many in the banking and insurance industries. Readers may ask why I am talking about banking and insurance in such doomsday terms. My bleak forecast does not stem from the notion behind the common fintech (financial technology) and insurtech (insurance technology) industry pitch that they will change their respective industries with innovation and better customer experiences, although I firmly believe that some of the startups will cause significant pain to the incumbents and will indeed change their respective industries. One day, some of the existing and as-yet-unlaunched fintech and insurtech companies will also become incumbents that other startups aim to disrupt.