RUPERT POLAND Vice President Marsh McLennan
ALEX PHILLIPS Senior Vice President Financial Lines Marsh McLennan
The pair outlined five areas where the risks for insurtechs may be different than for incumbent insurers , saying insurtechs need to carefully consider their reliance on third parties , regulatory changes across different markets , AI , fraud , and cybersecurity .
Third parties ( incumbents ) usually supply insurtechs with capacity for their products – so should anything change with an incumbent , this could put an insurtech at risk . Compliance in all territories is something insurtechs need to carefully consider , particularly when it comes to AI and cybersecurity .
32 December 2023