Innovation in Business Strategy

But what if insurance worked more like Netflix? Netflix tracks your viewing behavior and adapts recommendations instantly. If insurance products adapting the same way, premiums adjusting dynamically to fitness levels, coverage expanding with life stages, benefits rebalancing as goals evolve. McKinsey estimates AI-led personalization could lift insurer revenues by 10–15%, while lowering claims costs through early risk detection. And The technology already exists. Wearables generate 250+ daily data points per user around heart rate, sleep, activity. PwC reports 63% of consumers are willing to share health data if it results in cheaper or more personalized premiums. And Personlaized premiums is not a distant reality. It can be achieved by: 𝟏. 𝐈𝐧𝐭𝐞𝐫𝐨𝐩𝐞𝐫𝐚𝐛𝐥𝐞 𝐝𝐚𝐭𝐚 𝐩𝐢𝐩𝐞𝐥𝐢𝐧𝐞𝐬 that allow secure ingestion of health and behavioral data at scale. 𝟐. 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐬𝐚𝐧𝐝𝐛𝐨𝐱𝐞𝐬 that encourage innovation while protecting privacy. 𝟑. 𝐀𝐈 𝐞𝐱𝐩𝐥𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐟𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤𝐬 to ensure transparent pricing and avoid hidden bias. 𝟒. 𝐄𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦 𝐩𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩𝐬 with health-tech, fintech, and wellness players to broaden value delivery. Insurance is likely evolve from a once-in-a-decade purchase to a living product. #DigitalIndia #Fintech #AI #technology #Fintech #AI #technology

Have you noticed how much insurance innovation has changed? The chart below illustrates the distribution of funds raised among InsurTech categories. At the peak of InsurTech (2019-2022), two-thirds of investments went to D2C startups or full-stack InsurTech, with Wefox being a significant player in that space. For sure these categories have seen a decline since then. However, there is a different perspective on the current dynamics in the insurance technology space. Since the market downturn in 2023, almost two-thirds of InsurTech funding has been directed towards players in alternative distribution methods, such as tools for brokers or Embedded Insurance, or those addressing other parts of the insurance value chain. While InsurTech 1.0 was heavily focused on two main models: D2C and full-stack, the new wave of insurance technology is embracing a wider variety of business models and go-to-market strategies. Many of these players are offering tech solutions for incumbents (B2B) with a more capital-efficient approach. Additionally, new categories are emerging as new risks challenge incumbents. Hence, innovation is expanding beyond traditional InsurTech startups to include players working on data, algorithms, and software to better understand and assess these risks. Climate change and cyber security are clear examples of this new market segment, but the scope extends much further. In conclusion, there are two perspectives on the state of insurance innovation: some might say it's in decline, while others recognize that it's simply... evolving. #insurance #fintech #venturecapital 

Spending 20 minutes crafting ONE impactful email beats blasting out 1,000 automated emails every time. Tech sales isn't about brute force anymore—it's about insight. Here's why buyers have changed and 7 tips to help you thrive: I’ve managed 100s of reps, sales teams and managers. In the early days, success came to those who could out-work the competition. Successful reps didn’t “always” need deep product knowledge or a clear grasp of the competitive landscape. Hard sales skills were enough. But those days are over... What sets today's top performers apart is their ability to research and understand the market. Buyers want insights. The reps who thrive are the ones who bring intense domain knowledge to the table. Here's why: 1. Buyers Are More Educated Today’s buyers know more about your product than the average rep does. They expect tailored answers to specific questions. If they sense a lack of knowledge, they’ll move on. 2. Market Is Flooded with Substitutes With so many similar products, the gap between competitive products has nearly disappeared. Relying on product superiority is outdated — sales reps need an understanding of both their product and competition to offer value. 3. Knowledgeable Sales Reps ARE the True Moat As product differentiation fades, your real edge lies in your GTM strategy and a core team of AEs who can navigate complex buying cycles. Buyers trust and buy from knowledgeable sellers. Here's how sellers must adapt: 1. Stay Updated Insist on regular marketing and competitive updates from your Product and Marketing teams. Knowledge is power, and staying ahead keeps you sharp. 2. Keep it Real Don’t rely on outdated claims about being better than competitors. Your competitors make the same claims. Buyers are smart; honesty about your strengths and weaknesses builds trust and credibility. 3. Deliver Insights Provide value with deal-specific insights at every interaction. Custom content, detailed responses to objections, and actionable advice will make you a trusted advisor. 4. Be a Hub of Knowledge Share anonymized best practices and insights gleaned from your conversations with other clients, you can position yourself as THE go-to expert. 5. Create Aha Moments Your buyer is likely well-informed and eager to move forward. Don't waste their time. Cut to the chase. Spark that "aha" moment and watch the deal accelerate. Make them successful at their jobs. They'll reward you. 6. Don’t Disappear After the Sale Keep sharing best practices and stay engaged after the sale. Building long-term relationships leads to repeat business and referrals. 7. Stay in Your Domain Stick with your niche when switching jobs. Choose to work for multiple companies in the same space. Over time, deep knowledge and connections in your field will provide an unfair advantage. The days of the pushy seller are over. Buyers are more demanding than ever. They want answers, not more meetings. The question is, will you evolve?

Interesting review of Insurers' strategic investments in 2023 👉 https://bit.ly/49kMvSv "Even as dealmaking slowed in 2023, many insurance companies continued to use M&A to strengthen positions or improve offerings" "One set of deals strategically enhanced the core by providing access to technology that advances insurance capabilities; another set reflects the 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐟𝐨𝐜𝐮𝐬 𝐨𝐧 𝐩𝐫𝐞𝐯𝐞𝐧𝐭𝐢𝐨𝐧 𝐢𝐧 𝐚𝐝𝐝𝐢𝐭𝐢𝐨𝐧 𝐭𝐨 𝐩𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧" "The changes thrust insurance companies into new roles. They have the opportunity to evolve beyond managing reimbursement and repair for damage into working toward preventing or minimizing losses. This includes both 𝐢𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐢𝐳𝐢𝐧𝐠 𝐛𝐞𝐡𝐚𝐯𝐢𝐨𝐫𝐬 𝐭𝐡𝐚𝐭 𝐰𝐢𝐥𝐥 𝐫𝐞𝐝𝐮𝐜𝐞 𝐫𝐢𝐬𝐤𝐬 as well as 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐭𝐡𝐞 𝐮𝐬𝐞 𝐨𝐟 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 such as water sensors, water shut-off valves, and related tools" "Companies that traditionally built their competitive advantage around underwriting risk and operational excellence increasingly are moving to extend their offerings beyond risk protection to address key pain points across the customer journey, such as risk prevention services" "It’s easy to sign up a partner in a headline deal, but it’s a lot harder to effectively integrate it into the business" 𝐆𝐫𝐞𝐚𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐅𝐈𝐍𝐀𝐋𝐋𝐘 𝐚𝐧 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐟𝐨𝐜𝐮𝐬 𝐨𝐧 𝐫𝐢𝐬𝐤 𝐩𝐫𝐞𝐯𝐞𝐧𝐭𝐢𝐨𝐧! The sector has made significant steps in this direction in the past three years (you can see the status of the market in 2020 when I collaborated with The Geneva Association on a paper about his opportunity 👉https://lnkd.in/gWkFaGY ) Here some success stories: - Vitality: health & life -> https://bit.ly/3Uq5Sp2 - Hartford Steam Boiler: Property and specialties -> https://bit.ly/3GwGy8B - Tokio Marine: Personal and Commercial P&C -> https://bit.ly/47ZvZXv - The Hartford: Commercial Property -> https://bit.ly/47CjFMV - State Farm: Personal property -> https://bit.ly/3T7tMFf - Discovery Insure: personal auto -> https://bit.ly/3w3eGHl 𝗧𝗼 𝗰𝗼𝗻𝗻𝗲𝗰𝘁 & 𝗽𝗿𝗼𝘁𝗲𝗰𝘁 𝗶𝘀 𝗮𝗻 𝗶𝗻𝗰𝗿𝗲𝗱𝗶𝗯𝗹𝗲 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗳𝗼𝗿 𝗶𝗻𝘀𝘂𝗿𝗲𝗿𝘀 𝗶𝗻 𝗮𝗻𝘆 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗹𝗶𝗻𝗲 𝗮𝗻𝗱 𝗶𝗻 𝗮𝗻𝘆 𝗴𝗲𝗼𝗴𝗿𝗮𝗽𝗵𝘆! 💯 𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘆𝗼𝘂 𝘀𝘁𝗶𝗹𝗹 𝘄𝗮𝗶𝘁𝗶𝗻𝗴 𝗳𝗼𝗿 𝘂𝘀𝗶𝗻𝗴 #𝗜𝗼𝗧 𝘁𝗼 𝗽𝗿𝗲𝘃𝗲𝗻𝘁 𝗮𝗻𝗱 𝗺𝗶𝘁𝗶𝗴𝗮𝘁𝗲 𝘁𝗵𝗲 𝗿𝗶𝘀𝗸𝘀 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼? 🙄

Companies may find traditional insurance solutions don’t meet their needs amid rapidly changing risks and business uncertainty. Unprecedented challenges like climate change, cyber threats, and geopolitical tensions demand more innovative approaches to risk management. Aon’s latest insights highlight how Alternative Risk Transfer (ART) solutions are becoming essential for businesses aiming to optimize their total cost of risk, mitigate insurance pricing volatility, and access risk capital more strategically. By leveraging data and analytics, ART solutions not only cover risks but also protect balance sheets and foster growth. https://bit.ly/40FmqfW

Insurance companies are operating like it's 1995. Here's how to fix it: The last time I bought a policy: • Filled out a clunky form • Answered questions from memory • Got a rate based on data I typed in once That same data underwrites me for 12 months. No updates. No context. No acknowledgment that life changes. Meanwhile, everything else is dynamic: → My watch tracks heart rate continuously → My car reports driving habits in real-time → My bank sees spending as it happens But insurance is still stuck in static data hell. Here's the massive opportunity I'm seeing: 𝗥𝗲𝗮𝗹-𝘁𝗶𝗺𝗲, 𝗼𝗯𝗷𝗲𝗰𝘁𝗶𝘃𝗲 𝗱𝗮𝘁𝗮 𝘁𝗵𝗮𝘁 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗲𝘃𝗲𝗿𝘆𝗼𝗻𝗲. Insurers get better underwriting and fraud detection. Consumers get fair pricing and actionable insights. 10 ideas I'd build (or help build): 1. APIs for embedded behavioral insurance 2. Disability insurance tracking burnout signals 3. Pet insurance using GPS and vet data for fair pricing 4. Fleet coverage updating on real-time driving behavior 5. Risk prevention tools that stop claims before they happen 6. Credit protection based on cash flow, not just credit scores 7. Crop insurance with microclimate sensors and satellite data 8. Wearables-based life insurance rewarding sleep and movement 9. Smart home insurance that adjusts for water usage and occupancy 10. SMB coverage monitoring QuickBooks and Slack for operational risk The space is wide open. Traditional carriers are too slow to innovate. This is where the next billion-dollar insurance companies get built.

I cracked the code on why some email flows make millions while others flop. The secret is what we used to take this clients revenue up 9.9% in just 30 days. After building 1000+ email flows... Most marketers focus on: → Subject lines → Send times → Pretty designs But the real difference maker? Timing. Here's what most people get wrong: → They use "best practice" timing. → Send welcome email immediately → Follow up in 3 days → Send again in 7 days But every brand is different. We analyzed time-to-purchase data and found: → Some customers buy in 13 minutes → Others take 6 days → 90% convert within 48 hours The fix: → Track YOUR customer behavior → Time emails based on YOUR data → Stop following generic advice Best practices are just average practices. Your data is your competitive advantage.

📢 Small business owners, insurers, and vendors—take note. Next Insurance is making bold moves with 𝐭𝐰𝐨 𝐦𝐚𝐣𝐨𝐫 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬: -𝐌𝐮𝐥𝐭𝐢-𝐋𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐖𝐨𝐫𝐤𝐞𝐫𝐬’ 𝐂𝐨𝐦𝐩𝐞𝐧𝐬𝐚𝐭𝐢𝐨𝐧 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 – A game-changer for restaurant chains, retail stores, and other multi-site businesses. NEXT is cutting the red tape with a fully digital, single-policy solution for all locations within a state. No more juggling multiple policies—that's awesome. -𝐀𝐈-𝐏𝐨𝐰𝐞𝐫𝐞𝐝 𝐑𝐢𝐬𝐤 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐰𝐢𝐭𝐡 ZestyAI – NEXT is doubling down on innovation by integrating Z-PROPERTY™ and Z-FIRE™, providing real-time, property-specific risk insights that take underwriting to the next level. I've not experienced ZestyAI's products or solutions for myself, but they promise with AI-driven analytics, they’re setting a new benchmark for precision in risk assessment. 🔥 Why You Should Care -𝐅𝐨𝐫 𝐒𝐦𝐚𝐥𝐥 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 – Faster coverage, easier management, and better risk assessment. -𝐅𝐨𝐫 𝐓𝐫𝐚𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐮𝐫𝐞𝐫𝐬 & 𝐓𝐏𝐀𝐬 – Another wake-up call. Legacy systems and manual processes won’t cut it anymore. -𝐅𝐨𝐫 𝐕𝐞𝐧𝐝𝐨𝐫𝐬 – A golden opportunity to build digital solutions that integrate with this new wave of automation. 📊 The insurance industry is at an inflection point. NEXT’s moves signal a future where 𝐞𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲, 𝐀𝐈, 𝐚𝐧𝐝 𝐚𝐮𝐭𝐨𝐦𝐚𝐭𝐢𝐨𝐧 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐭𝐡𝐞 𝐬𝐭𝐚𝐧𝐝𝐚𝐫𝐝. Traditional carriers and TPAs need to evolve or risk being left behind. 💬 What do you think? Are traditional insurers ready for this level of disruption? Drop your thoughts in the comments! #InsuranceInnovation #WorkersComp #Insurtech #Workerscompensation #SmallBusinessInsurance #RiskManagement #FutureofInsurance #PropertyandCasualty #InsuranceIndustry

I spent 3.5 hours researching one prospect before sending a single message. Most people think that's just a little bit crazy. I believe it's a big competitive advantage for us. Here's what 3.5 hours of research got me: Apollo analysis: Company technographics, employee growth and recent hiring spikes in specific departments where our decission making unit people are LinkedIn Sales Navigator: Leadership & management changes, recent posts showing their strategic priorities, employee headcount, hiring velocity and mutual connections for warm introductions Veridion data analysis: Industry landscape mapping (2,032 competitors in their indsustry and geography and 39471 potential clients for them to understand the market concentration by region, and growth stage indicators Old-school search: Recent press mentions, regulatory filings, and industry conference speaking engagements The result? (I fell) I had a pretty good idea about their biggest marketing & growht challenge before they told me. I had a rather good understanding of their competitive landscape better than most of my competitors who are sending hundreds of cold emails per day. I had context on their growth trajectory. That research turned into a 30 minute call with their marketing manager and another 60 minutes call 2 weeks later with their VP of Marketing. That conversation turned into a pretty cool client 4 months later. Some players are sending hundreds of generic messages while I am sending 5 per week, highly researched, strategic ones. DFor me data wins deals. Always.

⏱️ Parametric Insurance: Revolutionizing Risk Management How is parametric insurance changing the game for insurers and their clients? 🌟 In my experience working with carriers across the globe, I’ve seen parametric insurance redefine how we manage high-impact risks. By focusing on data-driven triggers, it’s transforming industries prone to climate and other disruptive events. 📖 Case in point: A leading carrier implemented parametric policies for businesses in a flood-prone area. The policy, triggered by rainfall levels, delivered remarkable results: ✔️ 72-hour payouts – No more lengthy claims processes. ✔️ Reduced economic downtime – Businesses bounced back faster. ✔️ High customer satisfaction – Transparency and efficiency made all the difference. 💡 What can we learn? 🔹 1. Data is king – Reliable triggers like weather or seismic data are the foundation of parametric solutions. 🔹 2. Market education is crucial – Helping clients understand the “how” and “why” of parametric insurance builds trust and adoption. 🔹 3. Go beyond climate risks – These models can tackle challenges like cyber risks or supply chain disruptions. 🌍 Why it matters: As climate risks intensify, parametric insurance offers a scalable, innovative approach to protect businesses and communities alike. 💬 What’s your take on parametric insurance? Is your organization exploring these solutions? Let’s discuss how this innovation can reshape the future of risk management. #InsuranceRevolution #ParametricSolutions #RiskInnovation #ClaimsEfficiency #FutureOfInsurance #InsuranceCareersMonth