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Insurance today offers a lesson in economics. Traditional product development (supply) is not meeting modern consumer needs (demand). The result is a loss of potential revenue. What is needed is ‘transformational thinking’. (For a definition of transformational thinking and legacy thinking, see my first blog.see my first blog.)

The general manager of usage-based insurance says predictive models are the "secret sauce" that gives the company a competitive advantage in the space.

Conan Ward looks forward to building a "cutting-edge team who knows how to marry the products we’ll be selling with the risks of the future."

Thirteen percent of insurers say enterprisewide data management is a significant strength, and 19 percent are confident in their company's multi-asset risk tools, according to a report from State Street.

Insurers are ready to design digital solutions that change the industry into a continuous, predictive, risk management service.

Vehicles are becoming even more connected, which may cause insurers to look closely at their underwriting and business models. Here are the vehicles Connected World magazine says have the most-outstanding onboard connectivity.

Disruptive technologies - from wearable devices to cognitive analytics to crowdsourcing - present unprecedented opportunities, but they also challenges on how to balance experimentation for tomorrow with the realities of today, according to Deloitte report.

Program enables companies to prove when content was viewed on a specific website.

Oklahoma and Texas led in insured CAT loss payouts; overall, insured CAT losses declined compared to 2012.

Insurer will take advantage of C Spires’ 23,800-square-foot $20 million data center, which is expected to open in November 2014.