Rob and Lee are joined by the insightful Martha Notaras, General Partner at Brewer Lane Ventures. Martha goes into detail about her eight predictions for InsurTech in 2024. She talks about leveraging technology to enhance efficiency within the insurance industry and how we can best explore the benefits and challenges posed by AI. Martha discusses cutting-edge innovations surrounding data and sheds light on the profound impact of climate change on the dynamic landscape of the insurance sector. At the end of the episode, Martha talks about what InsurTech 3.0 would look like to her, and what else excites her about the year ahead in our industry.
Learn More:
www.fnoinsuretech.com
Brewer Lane Ventures
Martha: LinkedIn
What to Expect: 8 InsurTech Predictions for 2024
What You’ll Hear In This Episode:
[7:22] What kind of response does Martha get from the general public regarding her 8 InsurTech Predictions for 2024?
[9:13] What’s cooking over at Brewer Lane?
[11:31] #1: The Word of the Year is AI.
[14:32] InsurTech has been working on AI for years, but Chat GPT put it on everyone’s radar.
[17:01] #2: Data Finally Gets the Attention It Deserves.
[20:04] Whoever owns the data wins. Does Martha agree?
[21:44] #3: Embracing Brokers.
[23:04] Where the insurance industry has been neglecting data.
[25:25] #4: Technology Innovation, Yes. But Make it Painless and Profitable.
[27:03] How the appetite for APIs has grown.
[31:57] #5: Embedded Everywhere All At Once.
[35:09] An embedded play that Martha thinks is terrific.
[39:25] #6: Climate: Extreme Insurance.
[41:02] The concept of insuring aggregate attritional loss.
[44:00] #7: Quality, Not Quantity.
[49:05] #8: InsurTech + Incumbent = Delivering Innovation at Scale.
[53:57] Martha’s thoughts are that we are somewhere between InsurTech 2.5 and 3.0.
[54:55] Is Direct to Consumer passe?
FNO: InsureTech