Joe McKendrick

Increasing adoption of digital processes, artificial intelligence and machine learning is opening up new opportunities for the profession.

The increased pressure to 'go digital' has attracted new blood ready and willing to take part in the transformation of the industry.

New business models based on blockchain and cognitive intelligence are coming, which will lead to the introduction of smart contracts for greater efficiency.

Machines are taking over much of the grunt work associated with tasks, elevating the roles of humans to adopt more strategic roles.

Larger, incumbent companies are finally learning the rules of the disruption game, and are coming back stronger than ever.

Incumbents benefit from high barriers to entry, but are themselves less efficient and innovative, Accenture claims.

Skill shortages, funding issues and other structural problems hamper efforts to modernize systems and processes for insurance companies.

No matter how much data is available, there needs to be a cadre of professionals who make sure AI and analytics systems are on target.

Insurers looking to leverage automated, AI-driven customer communications need to make sure they offer value.

There will always be a need for informed agents to provide the human touch that distinguish insurance as a people-centric industry.

While the concept may seem bewildering, it actually is based on a basic six-step process.

And insurers are ready to feed that beast, as initiatives at MetLife and others show.

Efforts to make AI more accessible also may alleviate the shortages of data and computer scientists.

The industry's human element is an asset that can’t be abandoned, especially at a time when disruptors are attempting to come in from all directions.

Because they gather and hold so much data, carriers enjoy a supreme advantage as data-driven models take over.

With today’s digital tools and platforms, the technology can be applied to various aspects of the insurance value chain.

Policyholders like what digitally focused entrants have to offer, but are more likely to trust established players.

Enterprises remain committed to building on their legacy infrastructures, but the massive influx of data poses new challenges to incorporating it all.

Emerging AI technologies will allow insurers to make more nuanced, on-demand decisions and expand their product portfolio.

Insurance companies can help consumers stay informed on risks to lives and property, evolving them into life-coaches.