InsurTech Magazine July 2021 | Page 10

THE BRIEF

“ RATHER THAN REPLACING ENTIRE JOBS , HYPER- AUTOMATION RELIEVES THE BURDEN OF THE MENIAL , ADMINISTRATIVE BUSINESS TASKS THAT LITTER AN EMPLOYEE ’ S DAY ”
Guy Kirkwood Chief Evangelist , UiPath �
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“ GOOD CUSTOMER SERVICE LEADS TO TRUST , WHICH LEADS TO CUSTOMER RETENTION , WHICH CAN RESULT IN INCREASED LEVELS OF PROFITABILITY ”
Martyn Mathews Senior Director , Personal Lines LexisNexis Risk Solution �
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BY THE NUMBERS

The Financial Conduct Authority is banning insurers
from price walking in January 2022 . We asked our LinkedIn followers : “ What do you think the most likely result of the new price walking ban will be ?”

44 %

End to cheap deals ?

22 %

Better customer retention deals ?

33 %

Fairer prices for consumers ?
“ THE DATA BELONGS TO THE DRIVER , AND THEY WILL NEED TO PROVIDE CONSENT FOR THAT DATA TO BE SHARED ”
Mike Brockman CEO , ThingCo �
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570.22 %

Finances Online has reported that the fastest growing life insurance company globally in 2021 is the Texas Republic Life Insurance Company which , according to reports , grew by 570.22 %

81 %

A 2021 study of insurance company cyber threat by Munich Re found that 81 % of C-level respondents didn ’ t think their company was adequately protected .

€ 9,040bn

According to the European Central Bank , the total assets of euro area insurance corporations amounted to € 9,040 in the first quarter of 2021 .
� EDITORS CHOICE
10 July 2021