FinTech Magazine March 2020 | Page 21

Classroom teaching session with Ed Jones in the CodeBlue Flood House
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Vault Insurance and CodeBlue are united by the same ethos : excellent customer service .”
“ The insurance industry is paying close attention to the technological advancements of other industries but continues to significantly lag behind in the adoption rate of the innovations that exist today in the marketplace ,” Manns notes . “ We are seeing innovations ranging from automotive loss avoidance capabilities and self-driving vehicles , aerial photography and the use of drones , to IoT smart-connected homes and buildings that measure the inside environmental conditions . These emerging technologies provide insurance carriers with missing data points and consumer behaviors to better predict underwriting risks , loss frequency and all of the costs associated , as well as the ability to take actions to avoid losses through virtual real-time policyholder interactions . The opportunity exists for insurance leaders to challenge the status quo in their organisations , embrace available technologies ,
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