Blockchain

The group now has 30 insurance carrier members working on distributed-ledger tech solutions for the industry.

The American Association of Insurance Services will launch the openIDL to share data between carriers and regulators.

Startup companies targeting the insurance sector are seeing more investment, but not to the level of the biggest deals in other financial sectors.

Progress toward a value-based care reimbursement system is slow, with clinicians hampered by a lack of information technology that could help them, according to a new survey of healthcare executives.

The distributed-ledger technology promises to streamline processes like claim management, pricing transparency and actuarial management.

Choices of Corda for distributed-ledger technology and Accenture for security and integration layers gets proofs of concept closer to production.

Insurers should identify priorities, assessing where they are and how blockchain would get them there and prioritize possible use cases, says Boston Consulting Group.

It is relatively inexpensive for insurers to try out the technologies -- and not risk falling behind.

Telematics, blockchain and RPA are all on the menu at the Worcester, Mass.-based multiline insurer.

Recently deployed capabilities find use cases for the technology in auto and marine coverage.

Carriers are able to leverage delayed flight information to provide customers with various other options of travel, similar to the hospitality online marketplace.

Applications include the faster delivery of claims payments, identifying fraud and leverging connected IoT data for improved actuarial models.

The commercial insurance broker's pilot, in partnership with IBM and ACORD, is the second such initiative in the P&C sector.

Carriers are taking more serious looks at next-generation technologies like wearables, blockchain and artificial intelligence.

The technologies are top of mind for the carrier in its efforts to modernize underwriting and claims management, says Puneet Bhardwaj, SVP of digital analytics.

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

The pilot program will be used in a cross-industry initiative designed to improve and validate the information in provider directories.

Using this technology, traditional data flows would be transformed because data integrity could never be accidentally or maliciously altered.

There will be widespread adoption of AI and especially of robotic process automation, as organizations look to boost the value of data, says Christopher Mazzei.

Carriers who develop internal innovation capabilities can outrun disruptors thanks to industry knowledge and information resources.