If you will notice, investors interest in insurtech is exploding and poised for more growth. Between 2014 and 2016, the amount invested in insurtech by venture capital (VC) players rose from US$404 million to well over US$1 billion, and this year could be even more. Having known the value and customization they receive from innovations
Inmediate and Insurance Market’s main purpose as you already know is to penetrate the current insurance industry, reach out to consumers, re/insurers, and distributors. To make policies transparent and trustworthy by using smart contracts, which is powered by the Zilliqa blockchain solution. And while Asia-Pacific’s enterprise blockchain ecosystem for insurance is nascent, budding startups like
As we all know it, the insurance industry, like so many others, is in a state of upheaval that will continue to play out this year. The disruptive forces at work in the industry have come into sharper focus over the past 12 months, and industry players across the board are now in motion as
In the past few years, we have seen feverish growth in the visibility of insurance’s digital transformation. But as the movement gains in maturity, what’s next? Let’s look at a range of predictions to see if a roadmap is emerging for the direction of the industry. Here are some of the most pressing questions: Is
Insurance has been around for centuries. As early as a thousand years ago, Chinese merchant seafarers were pooling together their wares in collective funds that would help pay for the damages of any individual’s capsized ship. While technology has changed industries over the past decade, in many ways, the multi-trillion-dollar global insurance industry is still
Anyone involved in the financial services industry is sure to have heard of blockchain technology. However, regardless of the term’s popularity, many insurance professionals only have a vague idea of how it works. The best way to understand blockchain is to contrast it with email, which involves an exchange of content, that if a person
We’re almost done again for 2019, so what should the industry expect from insurance technology over the next few months? For many years now insurtechs have been very passionate to talk about their disruptive effect on an industry that some have painted as conservative and even moribund. That said, 2019 will see the cold reality
There is no doubt that our world is changing fast and technological growth is leading to changes in all business sectors. The target of these changes is to make the process of purchasing products and services more convenient, cheaper and smarter. In relation to the insurance field, the introduction of new technologies to the market
Just like any other established industry, the insurance sector has a reputation for being resistant to change. But who can blame these people who work in this industry? Avoiding the risk and huge changes are in their DNA. But as time moves on, modern agencies are taking some of the boldest steps forward when it
As a consumer, Comparing Expat Health Insurance can be a bit complicated and diverse in nature and being able to make them truly comparable can be a herculean task. That is why we have created a helpful solution here at Insurance Market by building comprehensive comparison and rating models that help customers selecting the right
As a smart insurance platform, we are expecting this 2019 that the sweeping arm of digital transformation will cast aside normal operating procedure and catalyze technological innovation in the insurance industry. We all know that the staid insurance industry has long been lacking innovation. A space full of blue-chip companies replicating the traditional insurance model,
Ever wondered how health insurance premiums are derived? Well, currently, there are two principal rating methodologies used by health insurance providers and they are Community Rating and Experience Rating. These rating methods determine how much an individual or group pay for their health insurance. Let Insurance Market explain how they differ; Experience Rating Under this system of
As the insurance industry considers the best way to use blockchain, many companies will test the waters before deciding whether to jump into the deep end. The fact is, blockchain is a big undertaking, requiring careful consideration of the benefits, limitations, and areas in which it can improve processes. Possible Use Cases for Blockchain in
Buying international health insurance can be quite a hard. It requires quite a bit of thought and is a complex decision for most people as it is a matter of financial security and not to mention the sizeable investment that it involves. Amongst all the factors that need to be considered in this process, let’s
Are we ready for commercial insurtech? That is the question. Tech companies and VCs in the insurance space have probably read many of the news articles about Amazon and Google entering insurance. Given their nearly unlimited resources, this may be intimidating to some in the industry. Whether one views these moves as a threat, a
Since Christmas and New Year and other holidays are usually something to look forward to, it is common that the end-of-year holiday season usually is the perfect time to escape on a well-deserved holiday vacation to a destination abroad every year. However, many people who travel overseas are still not taking out into consideration having
Smart Insurance Initiative It is our pleasure to provide our community with another update on our progress about our smart insurance initiative. After our 3 prototypes, one of our partners has now asked us to produce a commercial version of one of the prototypes. So, we have commenced building the actual product and the infrastructure
There are a lot of insurtech startups emerging each year. Some fall by the wayside, others become major players. 5 companies set to make it big in 2019 are profiled, from an insurance as a service pioneer to a blockchain innovator. The insurtech sector has grown rapidly in recent years, with a number of startups