InsurTech weekly - Is there a viable route for innovation within the insurance sector?

_{What to learn from insurance innovation in emerging markets?}

‍In the ever-evolving landscape of finance and technology, one industry has been making waves by addressing a longstanding issue: the accessibility of insurance in emerging markets. Among the drivers of economic growth and development in emerging countries, insurance is often overlooked in favor of flashier sectors like technology or infrastructure. In fact, though, insurance is a behind-the-scenes factor driving growth at all levels of society, from family life to massive infrastructure projects to technology development.

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_{The legacy IT challenge for banks}

‍The European Central Bank regularly expresses concern over IT risks in the institutions it oversees. Its fears have now grown to the extent that two out of the three main priorities in its medium-term strategy include specific provisions for this area, leading to new requirements.

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_{The state of Artificial Intelligence's four layers}

‍Barely a day goes by without excitement over artificial intelligence sending another company’s market value through the roof. This month the share price of Dell, a hardware-maker, jumped by over 30% in a day because of hopes that ai will boost sales. Days later Together ai, a cloud-computing startup, raised new funding at a valuation of $1.3bn, up from $500m in November. One of its investors is Nvidia, a maker of ai chips that is itself on an extended bull run. Before the launch in November 2022 of Chatgpt, a “generative” ai that responds to queries in uncannily humanlike ways, its market value was about $300bn, similar to that of Home Depot, a home-improvement chain. Today it is $2.3trn, $500bn or so shy of Apple’s.

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