September 2018

New report highlights Lloyd’s advantages in InsurTech ‘arms race’

We are pleased to announce the publication of a report, undertaken for the LMA by Oxbow Partners, entitled InsurTech-led change in the Lloyd's Market - A Primer and Strategic Guiderails for Managing Agents.

The report outlines:

  • Evidence that new technologies and methodologies are having an impact in commercial and specialty insurance.
  • New data sources could have a transformational impact on underwriting, but would require a major cultural shift from current practices.
  • Advanced analytics are changing the products that insurers can sell, driving growth for insurers and closing protection gaps for customers.
  • Five big InsurTech-led trends that affect insurers

We finish by profiling 15 InsurTechs which we feel are likely to have an impact in this space.

One important point that we make in the report is that we do not consider InsurTech as distinct from other trends in the industry and prefer to see it as one of several facilitators of technology-led change. InsurTech is a tool that helps insurers and brokers enhance and execute their corporate strategies.

The report is available to download here.

Contact


Peta Kilian
Senior Executive, Market Operations and Innovation