Some 2014’s insurance innovations at a glance


Autonomous cars are dangerous for property & casualty insurers

You might think risk reduction on causing accidents is good news. Premium as the price tag of risk will fall when the use of self-driving cars hits the masses. Current business models of P&C insurers are 1/3 based on car insurance premiums. Lower premium income directly threatens their continuity. Read more on (Dutch).

IKEA thinks of everything!

pregnantSince 1 October IKEA Sweden offers pregnancy & child insurance to the 2.5 million IKEA Family Card holders. It’s a personal accident insurance, no guarantee to get pregnant or have (more) kids around, which would also benefit IKEA. The insurance was developed by IKANO, a subsidiary of IKEA. This financial institution is led by the 3 sons of IKEA founding father Ingvar Kamprad.

Worldwide selling of insurance policies could be IKEA’s next step. A fire and theft insurance, closer to IKEA’s core business, the logical next product. A graphic step-by-step walkthrough to your policy clauses is included.

Hyper individual targeted products or solidarity with a larger group of consumers?

Big data is perceived as a gold mine for large administrative organizations like banks and insurance companies. Comparisons with Google’s competencies to analyze and predict consumer behavior inspire industry representatives. At the same time the position as trusted partner and service provider that really can prove its added value after insured risks did occur demands a holistic, long term relationship, that’s built on trust, integrity and solidarity. The larger the group of policy holders, the easier risks can be insured against. Data analysis may be more useful for fraud detection than product development in the financial service industry.