PremiumBytes28 Des 2023

Episode 004: Insurance Tech News Roundup, December 2023 Edition

In this 4th episode of the PremiumBytes video podcast, hosts Sudhar and Samir discuss the time of the year (year end holidays) being a time when most media is making predictions for 2024 insurance tech trends, so the hosts agreed that making predictions isn’t worth anyone’s time, so took a different route and discussed and reacted to recent notable news articles related to insurance technology. A major news item was Ebix filing for Chapter 11 bankruptcy protection and reaching a "stalking horse" agreement to sell their life insurance and annuity software assets to Zinnia. This will have ripple effects across many life insurance carriers. Another discussion centered around whether it's worthwhile to measure developer productivity - the hosts felt focusing on business value delivered is more important than metrics like lines of code. The idea of "open insurance" was touched on but seen as potentially challenging to implement in North America versus other regions, at least currently. Data and AI continue to be key themes, with LexisNexis providing data to "feed hungry AI" at life insurers and startups like Assured Allies using data to predict risk events. There is an ongoing shift for carriers from financing losses to preventing them, using data and technology. Overall the episode aimed to highlight timely articles vs making broad predictions, with the hosts wishing everyone a happy holiday season and successful 2024. The followings are the media/news items referenced in the episode:

* What’s important to CIOs in 2024 * ⁠Ebix Reaches "Stalking Horse" Sale Agreement for Life Insurance and Annuity Business with Zinnia to Ensure Successful Recapitalization Efforts⁠ * Is it worth measuring software developer productivity? CIOs weigh in * What is open insurance? Tech versus data sharing

* LexisNexis Risk Solutions Feeds Life Insurers' Hungry AIs * Assured Allies gains $42.5 million to aid aging population * Crash Detection Will Transform Auto Claims – No, Really

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