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ITA Pro Weekly, October 17,2019

Shiny new tech toys, the agent M&A beat goes on, new Majesco report on insurance platforms, and more…

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Hot Off The Presses!
Insurance companies love the latest new tech toys. But once the shininess wears off, how prepared are they to fully utilize those expensive new systems? In an insightful new blog post, Slice Labs exec Philippe Lafreniere takes a hard look at how the industry’s interest and demand for the latest tech may be outstripping its ability to fully utilize the capabilities of those shiny new toys.
 
“Any given insurer that attends one of the insurtech conferences is like a kid in a candy store. That’s great, but we can’t tackle all of these at once; we need to pick a specific tech and prove its potential value through a set of quick use cases.”

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The insurance agent/broker mergers and acquisitions boom in the U.S. and Canada is still going strong, and shows little sign of slowing down, according to the latest report by investment banking and financial consulting firm OPTIS Partners’ M&A database. There were 490 announced insurance agency M&As during the first three quarters of 2019 -- the highest nine-month total ever, beating the 481 deals announced in 2018.

 

“Agency valuations continue pushing new upper limits, and there are no signs of any slowdown in M&A activity,” said Daniel P. Menzer of OPTIS Partners.


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Cloud insurance software provider Majesco has released a new research report, “Insurance Platforms – A Burning Platform for Market Leadership in the Digital Era of Insurance.” 

The report underscores how visionary leaders are leveraging customer, market and technology trends as a manifold opportunity for insurance growth by reaching new or underserved markets, creating innovative new products and personalizing the customer experience by using new sources of data and offering compelling experiences. They’re using a variety of tech tools including cloud, microservices, open APIs and API gateway, artificial intelligence and machine learning, and more.

Read more...

 
Breaking News from the Insurance Industry
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