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15th May 2019
It was a pleasure to be invited to the InsurTech Rising Launch Party at the Résidence de France on Wednesday evening. It was a great opportunity for Laurent Sabatie to present Skyline Partners and discuss the InsurTech sector alongside Pierre Favennec from Scor, with Renaud Million of Spixii as an excellent moderator. A very pleasurable evening, with insightful and informative discussions with all involved. Thank you to the French Embassy and KNect365 for hosting the event.
According to this report, South Asia still remains a region with very high protection gap for Natural Catastrophes property where over 90% of assets are uninsured for flood, wind and earthquake.
In the latest modelled estimates, India looks even closer to 100%.
The global key root causes listed are very interesting:
On the demand side, affordability, trust, awareness and appeal are listed. The traditional insurance model can’t solve this, it is the main reason why there is an issue in the first place. Interestingly on the trust thermometer, financial services are at the low end and technology companies at the top!
On the supply side, transaction costs, moral hazard, regulatory hurdles and capacity challenges in extreme scenarios seem the main ones.
The solutions recommended by the report are around embracing technology, creating innovative products and bridging public private interests. It even insists that for Weather the best solution is to let private sector expertise develop a commercially viable solution and the government should step in to help with regulatory and when reaching the insurable limits in extreme events.
Skyline Partners Ltd partnering with IBM brings a very relevant proposition in line with this report.
Skyline Partners is premium member of IBM Global Entrepreneur Program.
Co-Founder / Executive Director