Insurance plays the long game. This is an industry that plans for the hundred year storm, an event that statistically has a 1% chance of occurring in any given year. If the model is right, 99% of the time that event doesn't happen, but when it does, they are ready for the claims. This means they … [Read more...] about The Long Game
I read a terrific article by Caribou Honig, Chairman and Co-Founder of Insuretech Connect, where he referred to APIs as a “business strategy masquerading as a technology strategy.” We at Fenris couldn’t agree more. Up until now, insurance was not a data-driven industry. That sounds … [Read more...] about Mise en Plase
The only thing that could make your first work trip with your CEO any more nerve-racking, is when she has to back out a week before, and leaves you to mingle with strangers in a city you don’t know. At the Global Insurance Accelerator in Des Moines, Iowa last week, I listened to a wonderful open … [Read more...] about Leaving on a Jet Plane
We’ve been seeing a lot more companies take up the simplification dialogue. Fenris has a “50 to 5” mandate to create easy, fast, accurate quoting, and deploy that under our clients’ brand. The Chairman of Chubb has thrown down the gauntlet to challenge the rest of the industry - in 18 months they … [Read more...] about Making the Insurance Writing Process Simpler
Trend 1: Insurance Good, Fast, and Cheap Back in the day, one insurer trained the entire driving public to spend no more than 15 minutes on finding and binding an auto insurance policy. This pushed all large carriers to create on-line solutions and find ways to trim the quoting process to suit … [Read more...] about Two Trends in the Quest to Grow the Book of Business
Innovators to Watch is Innovator's Edge's way to share with the insurance industry some of the more interesting and innovative startups, ones that they believe hold great promise for driving exponential growth. Fenris is honored to be included in Innovator's Edge's Innovators to Watch - May … [Read more...] about Fenris Named Innovator to Watch
The appetite to disrupt a large industry is growing and venture capital is flowing into the insurtech scene, both from institutional and corporate groups. With good reason, in the US alone, insurance is a 1.2 trillion dollar industry with hundreds of years of history supported by legacy systems and … [Read more...] about Disruption vs. Massive Improvement
Insurance is highly regulated and we have strict protocols and requirements around permissive and appropriate use of data. To date, we have evaluated over 20 new data sources, many of which have never been used to improve insurance processes before. Those that qualify are put through a rigorous … [Read more...] about Announcing the Best New Provider of Data!