Insure Think

These alternative approaches are good news for the industry as they challenge the traditional, sometimes adversarial, relationship between insurer and insured.

Divisional CIOS must provide leadership and leverage their intimate knowledge of their business units needs with their knowledge of technologies and vendor capabilities.

The insurer is also pursuing drone technology stateside.

Not only is the API economy delivering business advantages, but also elevating the careers of IT professionals from systems maintenance roles to digital “provocateurs.”

Five initiatives related to the IoT were submitted. Three were focused on wellbeing, one on the connected home and one on drones.

Although the potential opportunities and threats are vast and varied, a number of important themes emerge.

Insurance is changing: it will be lean and 'just in time,' driven by the Internet of Things, digitally delivered and serviced.

For insurers, the key is to step up with new types of ways to think about offerings.

Insurers did most of the legwork on telematics, but must identify more value than just premium discounts.

We've seen “consumerization” continue to sweep through organizations, brushing aside the older ways of managing IT shops.

Life insurance is so far behind that it is not even in the e-delivery race.

While few efforts at an insurer are more complex or time consuming as a core system replacement, a major BI initiative will eventually touch all aspects of an organization.

With IBM's acquisition of The Weather Company and its large insurance customer base, Watson analytics may be able to help assess weather risks days before things happen.

What most boards don’t have is a committee that focuses on what many now believe to be the most impactful company function of all – technology.

Two of the key tools of innovation can bridge the gap that exists in the download between insurers and agents: actual ideation and crowdsourcing.

The message to insurers is strict and clear: one day the insurance industry will have its own Uber that comes in and disrupts the traditional insurance business model.

Lately, CIOs have been overwhelmed by the big data tsunami, as stated in a recent report out of Experian.

While noting that his company is hiring from Google and Amazon in order to spend it's $153 million tech budget effectively, the industry overall, Wilson says, is far behind other sectors when it comes to technology innovation.

As new technologies continue to emerge, how do we, as an industry, incorporate them into new or existing products and services?

Some carriers have recognized the challenge associated with attracting key talent to smaller markets and have taken the offensive to open satellite facilities that are in locations closer to where “the action” is.

Whether dealing with the end consumer or agents, insurers must be prepared to meet diverse standards for digital interaction.

Eighty percent of IT executives feel that IT departments have too narrow of a scope to be able to effectively ramp up the speed at which they delivery digital capabilities.

To find new opportunities, insurers should think about the questions that keep their prospective customers up at night and determine which are ripe for a new insurance offering.

With Volvo’s announcement that they would accept all liability for the car in autonomous mode we see the first of three steps towards the end of auto insurance.

No matter how many tools get introduced to workflows, there will always be a need for human judgement, oversight, and, most importantly, imagination.

Any given application may be the only point of contact a customer has with an insurer -- so it's important to take their experience seriously from the start.

The insurer went from FAA approval to claims inspection in about six months.

Telematics, data, insurance

Everyone is talking about the digital experience, but what does it really mean to go digital?

Insurers must recognize that for some consumers, offering value in exchange for their data is a key attraction.