InsurTech Futures: Technology will shrink the insurance market, says RSA's Leitch
RSA global connected insurance director Kenny Leitch states InsurTech will stop claims from happening.
InsurTech is set to shrink the insurance market, according to Kenny Leitch, global connected insurance director at RSA.
“There is an opportunity to use data and technology to create fewer collisions, fewer injuries and fewer claims,” Leitch explained.
He added that by doing this insurers and brokers could lower their prices “in a very competitive market”.
“Technology will shrink the insurance market because it will stop things from happening in the first place,” Leitch continued.
Investment
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Technology
End of Year Review 2025: nCino’s Ashleigh Gwilliam
Ashleigh Gwilliam, director of insurance at nCino calls for more to be done to make insurance careers genuinely attractive to young talent and predicts AI will be handling first-pass underwriting decisions on at least 30% of SME commercial risks by the end of next year.
HNW brokers ‘one generation from closure’ if they fail to engage new wealth
Failure to engage with high-net-worth clients that fall within the ‘new wealth’ category could see brokers disappear within a decade, unless they change their traditional mindsets.
Hadron confirms 10 MGA deals as its nears £200m UK GWP
Hybrid carrier Hadron has today revealed plans to enter the European Union after confirming it expects to end 2025 with over £200m in gross written premiums in the UK.
ERS MD eyes international and motor innovation opportunities after Starr buy
While it is business as usual for ERS brokers and clients following the acquisition of parent IQUW by Starr this week, managing director Martin Hall is already spying future opportunities, especially for its motor innovation team.
Allianz announces five-year deal partnership with telematics MGA
Allianz UK has announced a new partnership with Ticker, the specialist motor telematics managing general agent.
Open GI CEO Badley outlines plan to attract more insurers to its panel
Open GI CEO Simon Badley has promised insurers it will make its brokers easier to deal with and more efficient to attract further providers onto its panel.
Advertising feature: Transforming multi-location property and casualty programmes
Stephen Muir, head of marketing, explains how C-Quence delivered efficiency and scale for a leading UK broker with its digital Master Programme technology.
Blog: Future-proofing your broking business starts with the back office
As regulatory scrutiny intensifies, the ability to demonstrate financial control and system integrity can provide brokers a tangible competitive advantage, argues Chris Stout, a director at PKF.