Insurers turn to tech amid disruption and payouts

Insurers are embracing technology as the pandemic continues to disrupt the industry, but interest in partnerships does not yield immediate implementation.

In addition to tackling challenges with remote working, UK insurers are expected to pay out previously unseen claims to 370,000 businesses following the FCA’s business interruption case. To compound stressors, preparation for IFRS 17 standards are being pushed to one side, promising complications further down the line.

In this video, Piers Williams, Insurance Relationship Manager at AutoRek joins James Birch, Head of Innovation at Brit Insurance, to discuss the challenges insurers are facing and partnerships between insurers and insurtechs in a coronavirus environment.