DISRUPTIVE TRENDS FOR 2022

The insurtech industry is developing at warp speed , thanks to new technologies and generous investment in space . The next 12 months will be defined in terms of which processes become adopted as industry standards , following the pandemic year of 2020 , and the recovery year of 2021 .

DISTRIBUTED LEDGER TECHNOLOGY ( DLT ) Blockchain technology , for example , is responsible for decentralising transactions , increasing security and doing away with intermediaries . This level of innovation has allowed insurtechs to access new markets they wouldn ' t have been able to otherwise .

AI AND ML Yet , the leading example of broader disruption in the insurance sector comes from the rise of artificial intelligence ( AI ) and machine learning ( ML ). Combining these developments provides an opportunity to automate not just rote tasks but also cognitive ones such as identifying risk exposures or claims fraud .

REMOTE VIDEO CONFERENCING AND DOCUMENT PROCESSING The popularity of remote video conferencing is also a significant change in the insurance business . In fact , such apps have already become mainstream , with far-reaching consequences for customers and employees across sectors . For employees , this has meant a significant reduction in travel time and costs since they can now hold meetings from the comfort of their homes or offices .

� BRANCH INSURANCE The US-based insurtech raised $ 50mn in its recent Series B round from leading participants including Anthemis Group

� NIMBLA The digital business insurance startup , has collected $ 6.7mn in its latest funding round

� ROOT Root ' s share price is now down 85 % from its IPO . Its market capitalisation is just $ 1bn , compared to net cash of $ 764mn

� HIPPO Hippo had 83 % of the capital raised by its SPAC being withdrawn prior to its IPO and disappointing reports leading to a dramatic drop in its stock price

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