Reinventing insurance: The role of telcos

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Telcos have several key assets that can help insurers to harness advanced technology and new data sources to become more proactive and create new value in an increasingly unstable and unpredictable world.


Format: PDF filePages: 44 pagesAuthor: David PringlePublication Date: April 2024

Table of Contents

  • Executive Summary
  • Introduction
  • The rise of proactive risk management
  • In-depth digitisation
  • The Internet of Things expansion
    • Parametric insurance
    • Proactive protection
    • Pay-as-you-use
    • Automakers’ own-brand insurance
  • Connectivity enables automation
  • Harnessing artificial intelligence
  • Mobile money as a foundation
    • MTN – bundling insurance with airtime and remittances
    • Parametric insurance offerings in Africa
    • Developing a service suite in emerging markets
  • Barriers telcos are facing
    • Lack of trust
    • Uneven and unclear regulation
    • Access to historical data
  • Conclusions
  • Index

Table of Figures

  • Figure 1: Telcos’ strategic options in the insurance market
  • Figure 2: In the UK, trust in the insurance industry is low and declining
  • Figure 3: NTT Docomo offers a wide range of flexible insurance policies
  • Figure 4: NTT Docomo is using its payments service to cross-sell insurance
  • Figure 5: The FloodFlash sensor monitors water levels on behalf of the insurer
  • Figure 6: The Sky Protect home insurance app has had mixed reviews
  • Figure 7: Adoption of usage-based insurance varies dramatically across markets
  • Figure 8: Zeekr promises 10 years of peace of mind
  • Figure 9: SoftBank is developing a system to enable one operator to monitor 10 cars
  • Figure 10: Tractable uses image recognition systems to provide repair estimates
  • Figure 11: Number of mobile money-enabled insurance policies in place
  • Figure 12: Insurance products launched by Airtel in 2023
  • Figure 13: In Mali the Orange Max it app is a gateway to a wide range of services
  • Figure 14: How consumers view telco brands versus insurance brands in the UK
  • Figure 15: Trust in telcos is comparable to that in most other enterprises
  • Figure 16: Many Europeans trust telcos with personal data
  • Figure 17: The strategic options for telcos entering the insurance market


Technologies and industry terms referenced include: AI, Allianz, aYo, bolttech, CMT, DriveWell, Edelman Trust Barometer, FloodFlash, Fubon, GDPR, GSMA, HVAC, insuretechs, IoT, Lemonade, Max it, MMI Holdings, MTN, NTT DOCOMO, OKO, Orange, Ptolemus, Pula, RedCap, Sky, Sky Protect, softbank, Taiwan Mobile, Tesla, Tokio Marine & Nichido, USSD, Zeekr