Could a trend from the fintech world—”finance-as-a-service” platforms allowing non-financial product or service providers to embed financial capabilities into their customer experiences—soon spill over into insurance as well?
Giving her take on InsurTech trends to watch, Asha Vellaikal, Managing Director & Global Head of Digital Labs for Marsh, discussed that prospect during a recent CM Virtual Roundtable, “Is Insurance Innovation Overrated?” (7 minutes in on video below).
“SaaS [software-as-a-service] companies and [others] will start looking at fintech as a monetization channel in addition to subscriptions. And I think that kind of concept also applies to insurance,” she said.
Vellaikal made her prediction during the roundtable, after Phil Edmundson, CEO and Founder of Corvus Insurance, discussed another overarching trend—one in which InsurTechs are creating value outside of insurance companies by bringing new efficiencies to functions once housed inside them.
View the full video, InsurTech Trends to Watch, on the Carrier Management channel at InsuranceJournal.TV.