Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Apr 2023

Insurance


General

Reports of the death of InsurTech are greatly exaggerated

Establishing a date for when the first InsurTech appeared is always going to be controversial, but there is some evidence to suggest that it first emerged around 2010. The big question is whether today, 13 years later, the insurance sector has adapted to the quirky ways of headstrong InsurTech start-up or whether nothing has really changed.
 

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Has InsurTech lived up to the hype? What's next?

Over the last 10 years or so, InsurTech has made itself a mainstay in insurance thought leadership – always on everyone’s lips and frequently receiving top billing at industry events. We spoke to Bain & Company’s Dr Henrik Naujoks to get his thoughts on whether InsurTech has lived up to its hype and what the future holds now that funding is being slowed by macroeconomic headwinds and changing investor sentiment.
 

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Global shift in InsurTech business models

The constant evolution of technology and its rapid adoption during the COVID-19 period have led to a more pressing need for clear competitive advantage in InsurTech business models. We spoke to McKinsey & Co’s Dr Simon Kaesler and Mr Alex Kimura about this shift.
 

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Dealing with macroeconomic headwinds and climate change

Climate change continues to present significant risk for the global insurance industry even as stakeholders are making notable progress to mitigate exposure and boost resilience. The Middle East is exposed to climate change as well and more action is required, said speakers at the 6th Dubai World Insurance Congress, held in the UAE last month.
 


Fragmented markets hinder growth of InsurTech in Middle East

InsurTech activity has seen growth in markets like the UAE and Saudi Arabia but it has yet to take off in other regions. However, even the growth in these markets has slowed, say Deloitte Middle East’s Messrs Nadeem Gulzar and Maciej Tomaszewicz.
 

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View from India - ESG and insurers

ESG issues are gradually acquiring due importance in the insurance industry. ICICI Prudential’s Mr Judhajit Das gives a comprehensive view of what is happening in the ESG sphere in the Indian insurance industry.
 

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