The rise of InsurTechs has brought profound changes to the insurance industry, which present unique opportunities, as well as potential risks. According to Deloitte’s 2019 Insurance Outlook Report, “InsurTech is fundamentally altering the rules of the game and spurring the creation of a new ecosystem driving innovation.” With 86% of insurers believing their company’s revenues are at risk from this technology disruption, there is still tremendous opportunities for both up-and-coming InsurTechs and well-established incumbents.
Financial wellness is one area with immense growth potential. With the recent $3.5 Bil acquisition of startup company Assurance IQ by Prudential, financial wellness has never been hotter. According to EY, 60% of Americans suffer from financial stress. The American Institute of Stress has quantified this as a $300 Billion cost to US businesses per year in lost productivity. Financial wellness programs are now becoming a core offering of insurance companies, benefits providers, Fortune 500 employers, wealth managers, brokers, governments, and even banks.
In our next webinar, Niral Patel, a Senior Product Manager at Hydrogen will talk about why financial wellness is not only the present, but the future of InsurTech, how to develop a platform strategy that promotes financial well-being, and how Hydrogen can help accelerate your financial wellness strategy.
The webinar will take place on October 24, 2019 at 2:00PM EST / 11:00AM PST. To reserve your spot, click on the button below.