{"id":386,"date":"2017-01-23T07:38:26","date_gmt":"2017-01-23T07:38:26","guid":{"rendered":"https:\/\/blogs.scu.edu\/finis\/?p=386"},"modified":"2017-01-30T20:50:47","modified_gmt":"2017-01-30T20:50:47","slug":"fintech-insurance-innovations-ready-to-disrupt","status":"publish","type":"post","link":"https:\/\/blogs.scu.edu\/finis\/2017\/01\/23\/fintech-insurance-innovations-ready-to-disrupt\/","title":{"rendered":"Fintech Insurance Innovations: Ready to Disrupt"},"content":{"rendered":"<p>The U.S. insurance industry represents the largest in the world, with an annual revenue (think insurance premiums) of more than $1.2 trillion. However, there have been few major technological innovations in this massive industry, making it the perfect target for financial technology startups.<\/p>\n<div class=\"fb-quote fb_iframe_widget\">Insurance companies are well aware of the fintech threat, though only some have confronted it directly. According to a PwC report, 90% of insurers fear that they will lose business to a fintech startup; 43% have already put fintech at the heart of their corporate strategies. The report went on to point out that the rise of fintech in the insurance industry\u00a0is a disruptive force that should not be ignored. In fact, one in three insurance executives believe this fintech invasion could cause the loss of more than one-third of traditional insurance business, according to the report.<\/div>\n<div class=\"fb-quote fb_iframe_widget\"><\/div>\n<p>Therefore,\u00a0the World Economic Forum predicts that the most significant fintech disruption will take place in the insurance sector. While 90% of insurers fear this technological revolution, many insurance companies are beginning to see fintech not as a threat but as an opportunity. Quite a few traditional insurance providers are embracing fintech and incorporating innovative new technologies into their offerings.<\/p>\n<p>Source: http:\/\/www.investopedia.com\/articles\/insurance\/121416\/could-fintechs-insurance-innovations-disrupt-industry.asp<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. insurance industry represents the largest in the world, with an annual revenue (think insurance premiums) of more than $1.2 trillion. However, there have been few major technological innovations in this massive industry, making it the perfect target for financial technology startups. Insurance companies are well aware of the fintech threat, though only some &hellip; <a href=\"https:\/\/blogs.scu.edu\/finis\/2017\/01\/23\/fintech-insurance-innovations-ready-to-disrupt\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Fintech Insurance Innovations: Ready to Disrupt<\/span><\/a><\/p>\n","protected":false},"author":1711,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-386","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":4,"qubely_featured_image_url":null,"qubely_author":{"display_name":"vinaykjay","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/vinaykjay\/"},"qubely_comment":4,"qubely_category":"<a href=\"https:\/\/blogs.scu.edu\/finis\/category\/uncategorized\/\" rel=\"category tag\">Uncategorized<\/a>","qubely_excerpt":"The U.S. insurance industry represents the largest in the world, with an annual revenue (think insurance premiums) of more than $1.2 trillion. However, there have been few major technological innovations in this massive industry, making it the perfect target for financial technology startups. Insurance companies are well aware of the fintech threat, though only some&hellip;","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1711"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=386"}],"version-history":[{"count":8,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/386\/revisions"}],"predecessor-version":[{"id":612,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/386\/revisions\/612"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}