Guy Carpenter Announces New Global Capability to Help Clients Navigate Evolving InsurTech Market
The new service represents a comprehensive, insurer-centric approach to the evolving space of data, analytics and digital technology-based products and solutions. Designed to go beyond existing industry research, GC Genesis will employ a set of complementary services to allow its clients to navigate and ultimately use InsurTech to accelerate and de-risk their own strategic journey. The services are focused on the core business functions of insurance carriers: distribution, underwriting, pricing, claims, etc. With InsurTech continuing to expand and increasingly more capabilities for carriers to leverage, the new services provide a way forward for many of Guy Carpenter’s clients.
“The InsurTech space has expanded rapidly in recent years,” explains
Part of the new offering will employ data aggregation techniques to distill the vast InsurTech landscape into easier-to-understand pieces and identify overarching themes and trends. Data, analytics, and technology capabilities underpin the InsurTech community of startups. Having an ability to identify those capabilities most likely to help carriers operationally is no easy task given the size, growth, and complexity of InsurTech.
“We have compiled a proprietary database and research capability which spans thousands of InsurTech operations,” explained
GC Genesis supports clients regardless of where they are in their InsurTech journey, and there are a variety of ways to engage with the program. The Fitting Process service provides a review of a company’s current growth, profit, and cost reduction strategies in the context of its current capabilities and new services or startups that might accelerate those plans. Reviews with functional areas identified by the client create a baseline from which a customized view of the InsurTech community is derived, highlighting the solutions most likely to bridge the gap between current and needed capabilities. Additional client discussions fine-tune recommendations, resulting in a roadmap to InsurTech and an efficient method of engaging targeted vendors across the insurance value chain.
Carriers can also access the second and complementary
For those looking for holistic advice on their InsurTech strategy – from identifying needed capabilities and matching with vendors to test driving the actual platforms and signing contracts – companies can participate in both the Fitting Process and the
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