This week in insurance we learned about offerings tied to connected vehicles/drivers, M&A in the broker area and insights on how life insurance is looking to transform:
- Two interesting announcements from companies poised to compete in a the connected vehicle driver market. GM launches OnStar insurance to offer home/auto insurance and harness the data in their connected fleet of vehicles. Branch partners with Cambridge Mobile Telematics to offer mobile-based telematics to encourage safe driving. While not a direct entrance into telematics auto insurance it looks like they could easily evolve to that model.
- Deals continue in the broker area of insurance. Low interest rates, the hardening commercial market and need for remote work are driving factors. In a combination of two broker technology providers Zywave acquires Advisen in a deal that will enhance their offerings to a broker workforce in need of technology solutions to support remote work.
- From our conversations with carriers, we think these views summarize well the need to develop technology and operations that allow life, group and accident products to be distributed through ecosystems in addition to traditional channels.
Thank you for following and stay tuned for more updates including a special edition of our weekly insights coming on Wednesday in observance of the Thanksgiving holiday in the US. Stay safe, stay focused.