Insurance

FAQs on various topics give insurers, brokers and underwriters an initial insight into the possibilities of digitizing industrial insurance. Frequently asked questions are answered here and are intended to help identify opportunities and potential for digital industrial insurance. Can the renewal process also be carried out digitally? What are the most important prerequisites for this?

Industrial insurance, that means complex coverages and contracts. Digital claims management and digital claims validation are not yet standard for industrial insurers. A central challenge is to make the heterogeneous contract landscape manageable, especially in claims processing. Which processes in claims management can be automated and where are the limits?

The causes of claims leakage in industrial and commercial insurance are manifold. IT plays an important role in helping to reduce it. What do tried-and-tested approaches to reducing claims leakage look like?

Industrial insurers and brokers need to develop their ability to think in terms of digital products and processes. Data models provide the necessary vocabulary for this.

German and European insurance and brokerage companies in the industrial insurance sector are lagging far behind the possibilities when it comes to digitalisation. The opportunities lie in digital platforms.

Digitisation is changing the way industrial insurance transactions are conducted between market partners. The use of a state-of-the-art digital underwriting platform ensures efficiency and...

Many private consumers have long since taken out their insurance policies via the well-known online comparison portals such as Check24 and Verivox. Now the relevance of such online marketplaces is also becoming increasingly important for commercial insurance policies. Small businesses in particular are already taking advantage of the opportunities.

With the digitalisation in the insurance industry, there will also be an update of professions. In future, underwriters at insurers and customer or specialist advisors at brokers will have to have more IT skills than in the past. To enable them to work efficiently and successfully, low-code solutions are a possible answer.

Amazon is everywhere, sometimes as a role model, sometimes as a spectre - or both at the same time. The eCommerce giant also regularly serves as a basis for discussion in the industrial insurance sector as to whether a similar solution is not possible for the industry, through which insurers and brokers can present offers and policyholders as customers can place risks.

One basis for resilience to crises and normal market upheavals is the digitization of products and processes. In the industrial insurance sector, a second necessary basis is added, which even in the diverse platform discussions is of too little importance: The tried and tested networks also need digitalisation.