Page 9 - Turkinsurance Digital Magazine

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Mike Quindazzi, Managing Director at PwC, had underlined
the 11 things InsureTech startups could do in a tweet last
year:
• Underwriting Solutions
• Data Analytics
• Risk Management Solutions
• Claims Software
• Customer Interaction
• New Business Models
• Digital Distribution
• Marketplace
• Efficiency Drivers
• P2P
• Product / Service Insurance

Michele Embling, Chair of the Board at PwC
New Zealand, shared her opinions about the
report emphasizing that temporary solutions
are not remedies. Stating that temporary solu-
tions by insurance experts will drag them towards
an unavoidable failure against InsureTech start-
ups, Embling said managers must actively manage
the risks they are facing. The report also mentions that
the rise of InsureTech has an impact on new-generation
startups, while underlining the emergence of a competition
environment drives traditional insurers to think. According to
the report, interacting with InsureTech startups will definitely
prove to be fruitful for insurers.

Rabia Kübra Kanun/ kubrac@bestyayincilik.com