The COVID-19 pandemic proved what National Association of Insurance Commissioners CEO Mike Consedine already knew – the regulatory community is swift, nimble, and creative when dealing with an unprecedented emergency.

The COVID-19 pandemic has significantly challenged the insurance industry, but NAMIC CEO Chuck Chamness believes our resilience, adaptability, and focus on emerging technologies like blockchain will help us to emerge stronger than ever.

“Insurtech.” It’s a buzzword that’s ricocheting across the insurance industry. But what does it really mean, and how can regulators and carriers leverage insurtech to support their goals and objectives?

Insurance and technology have been linked together since the papyrus and quill.  While the technology has changed, from paper to electronic, from documents to apps to web-enabled experiences, the functionality provided by technology has always supported the business – and not the other way around.  While the latest technology is being marketed as “transformational” and “disruptive” to insurance, what is often lost is HOW that might take place. And without that, there’s little value in that transformational technology.