Announcing The P&C Insurance Technology Guide

We’re announcing a new and upcoming research report titled The P&C Insurance Technology Guide that will define – not the future of insurance – but the present – by leveraging Coverager’s Technology dataset to highlight key trends and solution providers.

For starters, we’ve identified the following 25 mega and mini customer-oriented trends.

Mega Trends in P&C

# Trend
1 Leveraging AI and text mining to detect fraudulent activity at the point of sale and/or during claims
2 Deploying mobile-based telematics solutions
3 Leveraging data from smart cars to underwrite car insurance
4 Leveraging messaging apps to communicate with policyholders throughout a claim
5 Leveraging image recognition and AI to offer repair estimates by evaluating photos of a damaged car
6 Leveraging property images to quote or underwrite a policy
7 Leveraging drones, AI, autonomous flight apps, and licensed desk adjusters to inspect and process wind & hail claims
8 Leveraging video to conduct remote or self-inspections
9 Augmenting and populating underwriting data from alternative sources
10 Adopting API strategy in sales (e.g. embedded insurance)
11 Leveraging image recognition to identify a product (or even a dog breed!) to price coverage
12 Leveraging chatbots to sell insurance
13 Leveraging chatbots to accept a claim notification
14 Requesting a video to report FNOL where a policyholder explains how the damage occurred
15 Implementing parametric weather solutions

Mini Trends in P&C

# Trend
1 Leveraging smart sensors to mitigate claims
2 Leveraging virtual or voice assistants to request ID Cards
3 Accepting a scan of a driver’s license to facilitate generating a quote
4 Leveraging AI and search engines to match claimants with physicians and identify cost savings (workers’ compensation insurers)
5 Leveraging wearables (or video) to reduce workplace accidents and workers’ compensation claims (workers’ compensation insurers)
6 Leveraging data from weather stations, telematics, and satellite imagery to develop predictive crop models
7 Developing solutions that combine remote sensing and mobile payments to pay claims automatically
8 Leveraging threat intelligence to enhance cyber underwriting
9 Leveraging datasets to inform travelers on safety concerns (e.g. infectious diseases) (travel insurance)
10 Launching voice insurance skills to address FAQ or request a quote

A Call to Action

If you are a technology or services provider with a solution relevant to the one or more trends noted above, let us know here.