Insurtech Insider Episode 31: Weird Claims and 2019 Predictions
On the latest festive episode, we're doing something a little different. Sarah, David and Nigel sit down with Oliver Ralph to talk about some very strange claims this year and make a few predictions about insurtech next year.
Sarah is back hosting with David and Nigel this week, joined by guest Oliver Ralph, Insurance Correspondent at the FT for some wine, crackers, mince pies and maybe some insurance too.
We kick things off with Slice Insurance Cloud Services Now Available in the UK & EU. US insurtech Slice offers on-demand rideshare and homeshare insurance, along with an on-demand insurance cloud platform called Insurance Cloud Services (ICS).
ICS has been available in the US and Canada since January 2018 where four global insurers are already using it to experiment with, test and deploy their own on-demand insurance products, both in the homeshare and cyber insurance market.
ICS enables insurers to launch on-demand insurance products customised to locale, language, and demographics.
JLT Re Partners Insurtech Pact To Develop Digital Solutions For The Mobility Sector. JLT Re has signed a partnership with Pact Insurance to offer products to the emerging digital auto insurance market in North America. As per the agreement the partners will collaborate to develop a digital insurance platform to cover both established as well as emerging mobility risks. Pact Insurance provides low cost, on-demand auto insurance in Ohio which customers can purchase and manage using their smartphones.
Waggel Launches Fully Digital Pet Insurance. The insurtech launched in the UK earlier this month and aims to offer more transparent pet insurance. The aim is for customers to know exactly how much they’re paying and for what provision, as well as getting rewards for improving the care of their animal.
Weirdest Travel Insurance Claims on 2018. This list came from Cover More, an insurance company that’s headquartered in Australia. According to its 2018 data, being denied from boarding a flight was the fastest-growing reason for an insurance claim, with instances rising a whopping 350% on the previous year. New types of claims in 2018 that didn’t exist in 2017 included “cabin confinement”, — when cruise passengers were forced to stay in their cabin due to illness, missed ports on cruise journeys.
We then get into some very interesting predictions for the space in 2019.
To round things off Sarah has an interview with Mitch Doust, Head of Americas for Cover Genius who gave us an overview of what Cover Genius is up to, what’s next for the company and his predictions for 2019.
All that and much more on this week's episode of Insurtech Insider.
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This episode of Insurtech Insider was produced by Laura Watkins and edited by Alex Woodhouse.
Special Guests: Mitch Doust and Oliver Ralph.