The company decided to take a first-mover advantage and invest earlier than some competitors in a market that has about $6 billion of insurance technology spend.
The event combined presentations and panel discussions on the commercial insurance/enterprise risk management theme, showcases of relevant startups, and networking.
We may see an even larger wave of InsurTech capital in the coming years, continuing the upward trend in overall market funding, which has increased for six straight years.
IIR speaks with NYLV’s Joel Albarella about how the organization brings multiple types of value to New York Life through its work with InsurTechs.
The value propositions for insurers include simplification, agility, and access to better data and analytics; for the platform provider: revenue and the ability to build new kinds of service offering by itself and with platform partners.
HCL will implement a fully orchestrated and automated cloud management platform with advanced automation capabilities, supported through the vendor’s DRYiCE platform.
Amplified alignment between strategic intent and capabilities is the key differentiating factor separating sustainable value creators from destroyers, according to ACORD CEO Bill Pieroni.
The new funding doubles MMV’s total capital under management and gives it the ability to back an additional 20 to 25 companies in North America, Europe and Israel.
Co-founders Accenture and the Partnership Fund for New York City seek to meet rising demand for innovation among insurers and increasing numbers of entrepreneurs developing new solutions for the insurance industry.
The platform, to be deployed first in MetLife’s group benefits business, includes cognitive computing, data analytics and integration and security capabilities from IBM, and core life, annuities and group benefits technology from Majesco.