Joe McKendrick

The insurance business is changing, and all technology providers have something to contribute.

Steps to help ease the transition from people-centered processes to machine learning and AI.

Savvy investments, partnerships and hiring practices seen as key to digital transformation.

Technology is adding a new dimension to insurers' analytics practices as essential information for customer applications may be already readily available.

According to the latest data from Venture Scanner, overall InsurTech venture funding grew at an annual clip of 31% from 2011 to 2017.

Embracing the cloud will make the transition to digital processes less painful.

The pressure is on to go digital, but staffing and budget headwinds mean that tech leaders must think on their feet.

Examples of insurance processes being automated through RPA include first notice of loss, fraud checking and policy renewal.

Pessimistic about their preparation for disruption, insurers are ramping up their innovation efforts to match what new entrants are doing.

As technology supplants old insurance jobs, new opportunities are available for enterprising individuals.

Companies are lured in, spending oodles of money on functions and features they don’t really use to their full advantage early on in the transformation process.

DARPA predictions include the possibility that devices or applications will be capable of being launched by human thoughts.

It's not just for software engineers.

When it comes to launching an internal startup such as an insurtech operation, a separate organization, with its own culture, is needed.

As AI and machine learning encroach on the insurance business, business cases are formed.

Companies that don't find incumbents to partner with them face a tough road.

The challenge for insurance companies is that tech talent is a precious commodity, especially at a time when moving into the digital realm and exploiting data analytics is crucial to success.

Insurer's conversion to Salesforce prevents end users from having to improvise ways to cobble together data.

As automation increases, it’s not that jobs will be entirely eliminated, it’s more likely that jobholders will see the nature of their tasks shift away from repetitive tasks and toward people-oriented tasks.

Insurers can benefit from a re-orienting of traditional markers of business success for the digital age.