Technology innovations which were created to get the most from efficiency and savings involving the current model of the insurance industry are referred to as insurtech. In the space that is the insurance industry, the belief driving insurtech investments by venture capitalists is ripe for disruption and innovation. The exploration of avenues that ‘bigger insurance has less interest in exploiting’ is what insurtech is all about. This can apply to the following:
- Social insurance
- The offer of ultra-customized policies
- To dynamically price premiums with observed behavior in mind, the use of new streams of Internet embedded device data
So, what’s the difference between insurtech and insurance? Insurtech customers are given the ability to prove their offerings’ value and to scale quickly. While traditional insurance benefits from a superior solutions portfolio offered to their customers.
About the Insurtech Industries
One of the oldest financial businesses in existence is insurance. In the past, those having long experience in the market or deep pockets tended to be favored. To assign policy seekers to a risk category, broad actuarial tables were traditionally used. Adjustments were then made on the group to guarantee that a number of people were lumped together in the following pursuit: To overall ensure that, for the company, policies were profitable. Unfortunately, based on the basic data level utilized to group people together, this ended up resulting in certain individuals overpaying.
Insurtech to the rescue! This analysis and data issue was tackled head-on thanks to insurtech. Companies are now able to create more precisely delineated risk groups by using all manner of device inputs (i.e., wrist worn activity trackers, GPS car tracking, etc.). This allows more competitive pricing on products.
What is Public Relations’ Role in the Insurtech Industries?
The human face of the insurance industry is PR (public relations). Professionals trained and experienced in PR typically act as the following:
- Media sources
- Corporate communication specialists
- Customer service representatives
Current data has proven that, in the insurance industry alone, the demand for PR professionals, when compared to the actual supply, is far higher.
PR professionals can assist insurtech industries by helping them navigate the ever-evolving landscape of insurance and general business practices. The right PR specialist can assist insurance companies in the utilization of media, an approach to being seen as friendly and fresh, and in the simplification of an otherwise complicated industry.
Why is JoTo PR the Right Public Relations Partner for Insurtech Companies?
- We are disruptive.
- We are results oriented.
- We drive interest.
- We produce stellar results; we are never satisfied with just “OK.”
- We provide hands-on PR guidance.
- We focus on our client’s greatness.
- We apply crisis management techniques to everyday PR.
- We are proactive.
- We get you continuous press and coverage that are needed to drive business growth.
Choose JoTo PR for Top-Notch Banking and Finance Public Relations Solutions
There are numerous challenges associated with the current insurtech industries. At JoTo PR, we have a full understanding of those challenges and how to navigate communications on all levels.
Are you managing a publicly traded company or private company? If so, you can count on us to have your back. Using methods that resonate with your target audience, we will deliver the message of your brand or service. You can rest easy knowing that you’ve entrusted the very best. You don’t want to come across as an impersonal machine. We can prevent your clients from viewing you as such because we break the entire, old-school mold of PR.
If you want to disrupt the insurtech sectors, gain exposure, and become an influencer, do not hesitate to request a complimentary PR evaluation now! Alternatively, you may call our toll-free number at (888) 919-4034 or email us at email@example.com for other inquiries.