43. News: Buzzword Bingo

Episode 43 · June 26th, 2019 · 50 mins 39 secs

About this Episode

Sarah and Nigel are joined by a host of fantastic guests to take a look at the biggest news stories in insurance and insurtech over the last few weeks. Our brilliant guests include:

  • Lea Nonninger - Research Analyst at Business Insider Intelligence
  • Oliver Ralph - Insurance Correspondent, FT
  • Andy Rear - Chief Exec, Digital Partners at Munich Re

Kicking off the show, we take a look at how US insurtech Lemonade has arrived in Europe! Lemonade was launched on the 11th of June in Germany, and they are introducing their new policy 2.0. The new policy is described as an easy to understand document designed for laymen instead of lawyers. Nigel argues that Lemonade will be able to get a lot more done a lot quicker in Europe than in America as Europe is a lot less regulated. Lea argues, as someone who has lived in Germany, the problem with launching a forward-thinking digital first insurance policy in Germany is that Germans are rather traditional thinking. Are they ready for this new modern insurance? (02:00)

We continue by talking about how car insurance premiums have jumped by a third in three years! The panel argues that this is not necessarily a bad thing, but what impact does this have on the number of people driving? Young people say that having a car is very difficult because of the cost. Cars are changing and getting more expensive to repair, so with the cost increase, will this impact how many people are driving cars? Are young people less interested in having a drivers license? (16:48)

Other stories include:

  • London-based insurtech start-up Zego raises $42m to fund European expansion (24:14)
  • InsurTech Futures: Insurtech UK and the Department for International Trade join forces (31:01)
  • Flock launches first ‘real-time’ insurance and risk-management product for drone fleets (36:06)
  • Inland flood defences save the UK £1.1bn a year (44:17)

All that and much more on this week's episode of Insurtech Insider.

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This episode of Insurtech Insider was produced by Laura Watkins and edited by Alex Woodhouse.

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