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Top 10 from the newsletter – November 2020

The InsTech London newsletter offers our view on the data and technology news that matters, plus articles and life tips beyond insurance. The list below contains the Top 10 articles that captured people’s attention in November. 

If you like what you read, sign up to the newsletter to get a fresh view on the world of insurance every Wednesday. 

Future of Lloyd’s – Season 3 – Blueprint Two now available

It’s a credit to Lloyd’s that it is able to maintain the direction of travel, whilst resetting its objectives at intervals to reflect experience and change. Whilst a three-week sprint may be possible for agile software development, the heart of Lloyd’s still beats to an annual cycle.

With the publication last week of the third iteration of its strategy, after 12 months of uncertainty and surprises, it’s good to see that Lloyd’s is calling out a focus on collaboration and simplicity. Strategy is about choice and that means putting off some bold, but distracting and hard to achieve goals. Lloyd’s no longer plans to develop its own placement platform. Instead, it aims to promote data and process standards and risk placement objectives with the aim to improve the full life cycle of risks coming into the market through to claims handling.

By no means easy, not always exciting, but a worthy tuning of the goals and in the spirit of the original vision. 

25 CEO insurance innovators to watch

Good to see recognition for our members and their leaders in this list from Technology Innovators including CyberCube, Descartes, INSHUR, Quantemplate, and Trov – but at least 50 more names we would add.

Tips for entrepreneurs who want to do so much but end up doing nothing

Struggling to generate more value out of what you do? This useful article from Matt Sandrini has insights including “the only time that matters is now” and “focus on your core strengths most of the time, and then use the principle of leverage to see disproportionate results”. Work out your “dream rate”, and use it to filter your activities to maximise enjoyment and effectiveness. 

INSTANDA launches new integration marketplace

The new virtual marketplace will give clients using INSTANDA’s platform access to more than 200 other business solutions providers. The company says it will allow insurers to bypass costly integrations and embrace automated processes. 

Stress free introductions

Building a community is about connecting a community. In these digital days, increasingly we are all having to make – and ask for – introductions via email, to help others find their partners or expand our network. Very useful article from Roy Bahat on the most effective way to do it so everyone benefits – “Please write me an email I can forward to them.”

Lean canvas, the one page business plan

The “lean canvas” approach to rapidly, and efficiently, testing and refining your business model has become widely used to flesh out new ideas, and can be surprisingly effective at establishing whether your idea is worth spending time on – or too much solution and not enough problem. Hear more about this on our podcast with WhenFresh, but this is a useful starting point for anyone innovating anything.

Car seats as contraception

Since 1977, U.S. states have passed laws steadily raising the age for which a child must ride in a car safety seat. According to this recent study, this has led to some significant unintended consequences. 

Parametric payout in action – Nicaragua settlement after Cyclone Eta

CCRIF (The Caribbean Catastrophe Risk Insurance Facility) will payout $10.7 million to the government of Nicaragua following Hurricane Eta, which destroyed 1,700 homes. The payout was made within 14 days of the event. CCRIF was featured in our Parametric Insurance report, which is still available for free. 

How they did it – finding the money – Tuesday 8 December, 4pm

Money is the rocket fuel for business growth, so we’re asking four early stage MGA/intermediary companies how they raised their investment funds, with tips for everyone. Sponsored by Genasys, we’ll be hearing from Envelop Risk, Rnwl, Hometree, and Pukka. Join us for another lively chat.  

Data is the New Oil – Fracking Unstructured Content – Thursday 3 December, 2pm

Is your organisation sitting on a reservoir of unstructured data? Robin will examine how to extract and refine it with the help of 360Globalnet, Hosta Labs and Mulsanne Insurance Company. Join us to see proven use cases around risk analysis, fraud detection and customer insights.

 

 

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