I find this article intriguing as I can foresee the next battle field is at the API strategics. How you find this article a good read. Special thanks to Nikhar Aggarwal and ETCIO.com The API model will help customers access…
The Life Insurance Association of Malaysia (LIAM) is urging insurance companies to sell their products via online platforms to drive the penetration rate to 75% in 2020 from the current 56%….LIAM president Toi See Jong expressed hope that the companies could establish their own platform by Jan 1, 2017.
Usage-based Insurance basically utilise telematics data provided by policyholders vide some embedded gadgets in the vehicle or home surroundings to help insurers redefine how premiums are being imposed. The manner the vehicle is being driven or how homes are being monitored or even how policyholder handle their daily affairs where Health Insurance is concerned are important for insurers to better understand the risk as it progresses through time. The starting point of acceptance may still be discounting of premium but safety of love ones and health of policyholders are slowly catching on…. Check the INFOGRAPHIC by Tower Watson in one of their US consumer survey on the use of usage-based insurances….
Google already provides auto- and travel-insurance quotes in the U.K., as well as mortgage quotes, and even credit cards. The moves suggest the search giant wants to offer similar services in the U.S., potentially displacing existing middlemen, as it has done in shopping and travel. Google provides its own product-search tools on the Google Shopping website, and increasingly offers specialized flight and hotel booking tools.
I somehow got (over the last three years or so) to the point that agents are not interested in just products or product packaging that insurance companies could provide to them to sell; there is no shortage in new products or packaging of products including services that are available in the market, and certainty not when agents are allowed to represent two principals….
The insurance agents are actually