Over a year ago, Stephen O’Hearn, global insurance leader at PwC, predicted, “InsurTech will be a game changer for those who choose to embrace it.” Since then, the InsurTech playing field has matured. Many insurers who have operated in the “good enough” zone are finding that it is no longer—well, good enough. The game has changed. Whether you’re in underwriting, claims, exposure management—or you’re a CIO—InsurTech impacts you. There is no option to stay on the bench. So, what’s your game plan?
The risk of wildfire is unlike any other, as today, 90 percent are caused by humans. That’s an alarming amount, considering all it would take is one inexperienced hiker failing to properly extinguish their campfire to scorch an entire mountain.