InsurTech to disrupt distribution & impact rates
Thursday, 07 27 2017, Category: Technology, Country: World
Richard Kerr, the Chief Executive Officer (CEO) of U.S. domiciled insurance exchange, MarketScout, has said that for the first time in two decades insurance distribution is to experience significant disruption, which in turn will support lower premiums, all driven by the continued rise of InsurTech.
“By utilizing new tech-enabled distribution, underwriters are ultimately going to reduce acquisition expenses, which will enable them to offer the consumer a lower premium. The end result will be a win-win: a net premium reduction for the insured and an increase in ROE for the insurance company,” said Kerr.