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ITA Pro Weekly, September 24,2020

Insurance tech investment’s post-COVID shift, Plug and Play’s winter insurtech cohorts, 4 steps to successful CRM migration, and more…

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Hot off the presses!

If you believe everything you read, there’s no middle ground for insurance companies when it comes to adopting new technology: they’re either complete Luddites operating on archaic systems, or they’re leveraging all the latest tech tools in pursuit of innovation. But a new study of selected insurance executives conducted by Celent finds that the reality is much more nuanced – especially since COVID-19.

“COVID has caused an acceleration in most types of technologies — but especially those that are needed for remote processing and remote customer service,” says Karlyn Carnahan, head of property/casualty at Celent. “The rapid need to communicate and collaborate with customers, agents, and other partners has caused a need to ‘drop everything’ and ensure new tools are in place that meet an insurer’s security and scalability requirements. Whether using video for inspections, or Zoom for court-litigated claims, insurers were rapidly faced with the need to launch and implement new technologies seamlessly and quickly.”

 

From omnichannel to digital transformation to AI, the InsurTalk podcast from Guidewire brings you expert insights from people who have driven innovation and turned possibilities into realities. Check out the first few episodes, featuring leaders from Aviva Italy, Economical Insurance, WSIB, and Farmers Insurance.

 

Global innovation platform Plug and Play has selected 147 new startups into their winter 2020 batches, including 25 insurtech startups. The startups were selected to join one of the following programs that will run through November 2020: Energy, Fintech, Health, Insurtech, Internet of Things, Mobility, Real Estate & Construction, and Travel & Hospitality. Of the 147 startups, 56 of them are internationally based and represent 15 different countries.

"We are excited to start our winter curriculum and see the connections these startups make," said Saeed Amidi, Founder and CEO of Plug and Play. "These companies have shown their potential in the industry and have proven that they are ready to take on the challenges that come with it. They will bring new value and ideas to our existing network of partners and industry leaders."

 

Many companies today want to shift from legacy systems to a modern customer communications management (CCM) platform to take advantage of the benefits these systems deliver, but the prospect of migrating your customer communications assets to a new system can be overwhelming.

In a new blog post, Gautam Jit Kanwar, president of BelWo Inc., a global provider of managed services specializing in CCM delivery solutions, outlines four ways to simplify the process – starting with a clear understanding of the current system.

“When migrating to a single software platform, it is important to investigate how all components are being utilized today. Then, create a roadmap of the new desired state and workflow. During this discovery phase, identify where assets are kept, and in what format.”

 
Breaking News from the Insurance Industry
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