Lemonade have posted their Q3 results with a net loss creeping towards $100m, a **** loss ratio of 94% counteracted by a 70% increase in GWP and premium in-force. It shows how much attention is being paid on customer growth vs customer risk & claims costs. I am not looking to question the strategy but is that the right…
Aviva have recently posted about a 16% increase in the level of motor insurance policy fraud (https://www.insurancebusinessmag.com/uk/news/auto-motor/aviva-warns-of-surge-in-motor-insurance-application-fraud-429065.aspx) One thing that really stood out is that with the cost of living crisis which is most likely going to…
A question I get asked quite often is "why are networks so important in identifying financial crime?" Organised criminals have learnt to attack weaknesses in claim/application/quote systems to generate high value low-risk income. Often, legitimate identities are hijacked or bogus ones are created and typically these…
With the news around the Amazon insurance store coming out last week it made me think back to the events of 2016 where Google tried, and failed. That failure was put down to the "market understanding" including how tight margins are and how competitive distribution channels which have been around for hundreds of years are.…
More and more, the insurance market worries about product density, recognising that in some situations selling a 2nd policy to a customer can move the retention rate from ~60-70% to well about 90%. So why wouldn't the market go further than that? Why not underwriting the entity not the event? I think an insurance policy…
In today's ever-evolving financial landscape, staying ahead of risks and maintaining a comprehensive understanding of your customers is more critical than ever. Perpetual Know Your Customer (pKYC) is not merely a buzzword; it's a transformative approach that empowers financial institutions to continuously monitor…
The Quantexa Community is here to support and enhance your Quantexa journey and we want you to be able to make full use of the Community capabilities. To help you on your way, we (the Community Team) host monthly sessions to show you around the Community, highlighting useful features and where you can find resources. What…
Join Accenture | Google Cloud | Quantexa for our onsite Chicago event. - Operating in a contextual next-gen (AI) insurance marketplace. Received practical guidance on how to grow quickly but stably and how to optimize your core business for tomorrow's future insurance market. Event will conclude with Demos, Networking &…
The Financial Crime Summit is where leading practitioners from the world’s leading banks and other financial institutions meet with regulators, consultants and solution-providers to discuss the future of combatting financial crime.