Is insurtech the place to be?

If you thought that insurance is dull, then you couldn’t be further from the truth.

Insurtech is disrupting the age hold annual insurance policy business, thankfully.

With greater access and control of product and customer data, specialist providers are creating value added insurance services driven by the real needs of customers like you or I.

Which makes sense, right? Why should you have to pay higher car insurance premiums because of the mistakes of others. Or annually increasing health insurance premiums even though you take a proactive interest in staying fit and healthy.

Here’s 3 insurtech companies who are revolutionising the industry:

Neos

With today’s advances in technology, and in particular IoT enabled devices, contents and building cover can be linked.

For example, you could have much faster access to assistance in the event of either a fire or flood – and this is exactly what Neos has built their offering around.

Providing a set of IoT enabled devices, you’re able to connect vital aspects of your home directly to a smartphone app. Within this are leak detectors, a wireless camera, smoke sensors and door sensors.

IoT provides a large amount of information to insurers that enables them to make more accurate premium estimates, reducing the cost to customers.

Cuvva

Cuvva offer a subscription insurance based service for motorists – particularly useful for young drivers where getting the right price is crucial, given the large amount they’re often having to pay.

The service is built on a pay-as-you-go basis meaning you don’t need an expensive, long term policy if you are going to need to use a vehicle intermittently or rarely at all. You can even be insured by the hour!

Brolly

A particular bug bear of mine is I have life, health, car, house, contents, pet and god knows what other insurance policies, and because there are so many, knowing what i have, with who, how much I’m paying and when they are due for renewal is nightmare. A nightmare eased by Brolly.

Brolly effectively provide a a concierge insurance service, smoothing the traditionally rough task of tracking down insurance into a pleasant experience.

You can streamline the process of owning insurance as well as finding it by using Brolly, as it stores all of the insurance policies from the providers you have previously used. This improves visibility of your insurance position to help you stay on top of existing policies.

 

So if you were considering a career in the finance industry, then perhaps you should have another look at insurance – you might be pleasantly surprised.

Keep an eye on our job board for insurance roles, and many other positions in finance.