Weekly News Roundup – 16th June
Getting to grips with data and kickstarting a company-wide digital transformation journey are key to ensuring long-term profitable growth according to latest research from WTW. Feedback from nearly 50 syndicates indicated that investment in technological innovations, such as digital trading solutions have given forerunners a “6 point outperformance advantage” over their peers. In other news, Lemonade have been setting records this week with a 2 second claims payout but is it as impressive as it seems?
London market starting to see concrete returns from investment in digital transformation, states new WTW analysis (Source: Willis Towers Watson)
In an analysis of 49 syndicates it was shown that investors and innovators in digital transformation delivered an aggregated COR of 89% (vs 95% for those yet to embark on such a journey).
Lemonade sets world record with 2 second AI insurance claim payout (Source: youTalk insurance)
Insurtech Lemonade settled a stolen bike claim via their claims bot AI Jim in a record 2 seconds.
Insurance industry reacts to Lemonade’s two-second claim settlement with mixed responses (Source: Insurtech Insights)
Get the market reception to Lemonade’s claim news in this comment roundup.
The Friendly Hacker: In Conversation with Keren Elazari (Source: Modern Insurance Magazine)
Keren Elazari, a cyber security analyst, writer and speaker, discusses cyber threats, cyber resilience in the face of AI innovation, and the vulnerabilities of connected devices.