Welcome to the Insurtech BTB – your view into what’s driving the conversation in the insurtech industry. This proprietary look at traditional and social media landscapes comprises data from a treasure trove of tools and expert analysis from INK’s insurance team. We pull from mainstream media, trade media, and social media from the previous month to determine who is talking, what they’re talking about, and why.
In-depth monitoring, analysis, and going beneath the surface of what’s trending is critical to bringing value to our clients. The aptly named BTB is just one of the tools we use to Be There BeforeTM for our clients.
The Sitch
No force of change is greater than natural hazard. A massive desert flooding event in Dubai and North America’s severe convective storm (SCS) season bringing damaging tornadoes and hail are prime examples of climate change that will push the industry to reshape how risk is assessed. Additionally, pandemic effects linger in the commercial insurance sector. Q1’s high office vacancy rates increased even further in April. AM Best reports economic and social inflation have plagued lines like P&C, commercial, and M&PL.
This perfect storm of events offers an opportunity for insurtechs. Customers crave rate stability, carriers are laser focused on profitability after years of excessive loss, and state insurance regulators want to empower the companies that benefit underwriters and policyholders. Yet the media at large still has a gap in covering just how technology can help, and it’s largely due to a lack of available data.
Insurtechs shouldn’t be shy to puff out their chests and draw attention to what makes them great, delivering educational value through data-driven and instructive case studies, reports, newsletters, and contributed articles. By providing clear data and analysis on how hazards, regulations, and economic forces are impacting the insurance industry, insurtechs can message their value — and make sure the right people hear them.
For a complete look at April insurtech conversations, download the PDF above.
