Transparency and cost of insurance must improve: Miller

Insurers need to improve the transparency of their product and
reduce costs if they are to compete with newcomers, Embroker CEO
Matt Miller warned a gathering of industry leaders last week.
The average cost ratios of carriers are excessive for what is
effectively an intangible product, Miller said at The
Insurance Insider's InsiderTech event in New York
on 16 March.
"Compared to other parts of the economy it is entirely out
of whack and therefore fundamentally unsustainable," he
said.
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