By now of course, #insurtech has stopped being short-hand for #NewTechInInsurance and become the necessary adjective for anyone trying anything new.
What's good however is that when experienced carriers like XL Catlin decide to partner with an insurtech-driven distributor - Bamboo in this case - there's a good chance that the combination will deliver something new for the customer and a positive change for the industry.
According to Bamboo CEO John Chu, “As the industry has evolved over the years, I wanted to build a reimagined insurance company that balances the core tenets of product manufacturing with insure-tech driven changes to the operating platform. We wanted Bamboo to embrace all the new technology driven advancements but apply them to drive profitable growth through machine driven underwriting and a significantly lower cost platform.”
https://xlcatlin.com/insurance/news/xl-catlin-and-bamboo-insurance-enter-underwriting-agreement
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