Cost and transparency of insurance must improve: Miller

Embroker CEO Matt Miller has warned insurers need to improve the
transparency of their product and reduce costs if they are to
compete with industry newcomers.
Speaking at The Insurance
Insider's InsiderTech event in New York
today, Miller said the average cost ratio of carriers were
excessive for an intangible product.
He said: "Compared to other parts of the economy it is
entirely out of whack and therefore fundamentally
unsustainable.
"When you live in a world in which digital offerings...