InsurTech weekly: Open Insurance: a regulatory update

Hi all,

Here is your weekly selection of the three most engaging InsurTech articles shared this week.

1️⃣ Where does the Open Insurance stand?

As a member of EIOPA recently shared insights on ‘Open Insurance’ in a podcast discussion. It is the opportunity to step back, get insights on the role of the regulator towards such an opportunity, an update on the initiative itself and challenges still to address. And I added a personal view to put that topic into perspective.

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2️⃣ Best practices for corporates to embrace AI at scale

BCG’s latest research, based on BCG’s Digital Acceleration Index, shows that companies that invest more in digital put more resources into AI; moreover, for those that are able to scale up AI, even small seed investments pay off big. (See Exhibit 1.) Modest investments in specific AI use cases can generate up to 6% more revenue, and with rising investments, the revenue impact from AI triples to 20% or more. Leading companies outperform on other KPIs as well.

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3️⃣ The state of Banking-as-a-Service

The foundations that the Fintech industry is built on have been shaken, and this process will continue until we chart a new course for social trust among businesses and consumers. BaaS can and will unleash generations of change for non-finance brands and new Fintech companies. But only if the whole industry cooperates and takes collective responsibility for risk.

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