Just Like London, Insurtech Merges Tradition With Disruption

Greetings once again from London! 🇬🇧

Brush Country Claims COO, Troy Stewart, and I have now passed the halfway mark in our time working with Lloyd’s Lab, the prestigious 10-week insurtech accelerator program convened by the internationally renowned Lloyd’s of London. We’ve had a packed few weeks meeting with our mentors, fellow cohort members, data scientists, brokerages, market experts and other insurtech founders to strategize how we can grow and refine the innovative software solutions we’ve built at Brush Country Claims. Our main goal? To continue taking our world-class customer experience to the next level for our carrier partners, adjusters, policyholders and more.

Every day, on our walk to the accelerator headquarters, we pass one of the city’s most distinctive modern buildings: 30 St. Mary Axe, the curved, glass-and-steel skyscraper nicknamed “the Gherkin.” Just in front of “the Gherkin,” constructed in 2001, stands St. Katharine Cree, an ornate stone church that dates back to the 1630s.

This blend of history and horizon, tradition and disruption is one of the most awing parts of London. Because the city dates back to the Roman empire, so many buildings here — like St. Katharine Cree — were constructed before the United States even became a country. Yet, London is also one of the most forward-thinking cities in the world, where pedestrians cross the road more safely because the transit agency employs AI to analyze security-camera footage, and where city fire departments train their staff using virtual reality headsets, for example.

During our time in London, our Brush Country Claims team is working in the Lloyd’s Building — another landmark grounded in rich history. The Lloyd’s of London market has influenced the insurance industry so much that many hundred-million-dollar insurance companies have established headquarters within the same square mile. Now, this same central London area is drawing a massive concentration of insurtechs and industry thought leaders. It’s been inspiring to become part of this welcoming community of innovators sharing their ideas, successes and challenges in order to continue propelling our industry forward.

As we pass these historical buildings side-by-side with modern skyscrapers, I can’t help but draw a connection between London’s fusion of tradition and innovation, and how both relate to the world of insurance and insurtech. Everything we do in the insurance industry is built on centuries worth of knowledge and expertise. The industry was founded on trust — a compact that ensures individuals and businesses are protected against risk — and we re- earn that hard-won trust every day.

At the same time, the insurtech revolution is inspiring major companies within the sphere to rethink the entire insurance marketplace. For example, policyholders are not only expecting — but also demanding — new ways of interacting with providers. As a result, we’re finding secure and innovative ways to analyze data to evaluate risk more effectively and efficiently, as well as provide more personalized services to policyholders. With our own insurtech solution, Hubvia, we’re using innovative, new software to help trained, licensed claims adjusters streamline unwieldy processes and improve accuracy at the same time.

The point of this disruption aligns with so much of what we’re doing every day at Brush Country Claims, building on the established foundation of our industry to provide our clients with a next-level customer experience. As the insurtech revolution continues to gain momentum, tradition and innovation must stand side by side, continuing to complement each other. After all, the interplay and tension of old and new is thrilling.

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