Insure Think

With the California mandate to take effect by January 2020 and a potential new U.S. federal privacy law that could supersede it, firms need to start taking stock of their privacy practices.

The visionaries are leveraging the data that sits in the ecosystems around them—and are applying AI on top of the data to turn it into predictive insights.

The right software can make a major difference for carriers that are seeking to implement digital tech.

For upstarts, these represent opportunities to disrupt the old guard; for established firms, these approaches can stave off new competitors.

Shifting to the cloud isn’t just a matter of flipping a switch, and the cost savings won’t be automatic if you’re not acting advisedly. As a result, CIOs should keep these three concerns top of mind.

The insurance industry is rife with self-inflicted limitations that have created unnecessary business process steps and workarounds.

Leaders must adopt a radically different stance, one that can enable them to pilot through contact turbulence while incessantly fine-tuning their course.

How do insurers make available the key connected devices that can, at a minimum, detect water and fire to mitigate the risk of each?

The regulation will impact the national and global economy, representing a seismic change for compliance procedures in the US, similar to how GDPR has changed privacy rules globally.

The Apple co-founder has kept a sunny disposition about change over a 40-year career.

Single-tenant SaaS has the same long-term scaling problem as on-premise deployments: every client’s system running on a slightly different branch of the codebase.

The Digital Footprint service is designed to identify, secure, and control personal data.

The nature of insurtechs make them very attractive targets, as connected technology creates new gateways for cyber criminals.

While WWI-era tactical fortifications were testaments to early 20th-century technology, it is not a paragon of smart investing. The designers assumed technology would never move forward.

As is the case with any emerging technology, there are several risks with blockchain that should be considered by organizations that plan to use it.

The tech giants evolved out of necessity to migrate to a more flexible and responsive architecture by incorporating microservices.

It’s no longer a question of if companies should use data; rather, the concern lies in how companies can effectively apply its insight.

Advancing in this field requires a combination of technical and intrapersonal expertise. Understanding your value as a data scientist and extending that ingenuity to various enterprises is the key.

MDM is growing in importance to keep up with a proliferation of analytics and external demands.

Five steps carriers can take to modernize their processes while retaining the human and emotional touch of the business line.

Organizations that win at digital become gravity points for the best talent. And the best talent is what organizations need to keep transforming in these times of change.

Companies that have vast amounts of data can easily step into the space and start competing with insurers. Here's how to dodge the threat.

Wage growth is starting to accelerate, and CIOs could find themselves paying premiums for certain roles in high demand such as data science, AI, security and cloud technology.

The processes and structures which have been effective in building capacity in the past won’t be able to address the market today.

While data has immeasurably improved a range of functions and processes, the manner in which data is used by insurers carries significant potential privacy implications and further regulatory scrutiny.

Blockchain use fundamentally changes the way that different constituencies -- including insurers and departments of insurance -- interact.

Services like Venmo and PayPal allow consumers to pay friends and family electronically. Insurers should meet that standard.

The landscape shifts with which the insurance industry is currently contending include new developments in both technology and consumer behavior.

Innovation and digital transformation are top-of-mind for these lines of business this year, according to SMA research.

The key is to leverage customer data in a trustworthy manner and deliver clear incentives for customers.

The coming year is expected to be a crossroads for the industry. Here's what to look out for to see what's next.

By 2022, 90 percent of corporate strategies will explicitly mention information as a critical enterprise asset and analytics as an essential competency.

There will be many new data sources and tools available, increasing exposure to cyber risk in the world.

Enterprises must look beyond the network, storage and compute stack to create meaningful insights out of data—the true business asset.

As we approach the end of the year and move forward into a year with new cyber risks, here are seven tips to avoid and combat cybersecurity risks.

It is a powerful positioning for insurance carriers to view themselves as data companies first, incorporating that information across all facets of the organization.

As businesses continue to embrace innovation, the following five trends should remain top of mind for organizations looking to continue to drive their digital transformation initiatives in 2019.

Can insurance companies achieve the same level of importance as Apple in their customer’s lives using digital techniques?

Technology must simply be one of the ways we create a seamless and positive customer experience.

Getting started with RPA may look different from business to business, but designing a proof-of-concept project is often the best way to jumpstart RPA efforts in your organization.

Carriers must think about the initial investment to build digitally, and the continuing commitment to development and innovation, says past WIL winner.

The insurance industry is a leader in having a shared digital vision to meet digital business aspirations, but there is much to be done, when it comes to rethinking the business model and institutionalizing digital capabilities.

The real challenge finding data scientists is not in finding the individual contributors, but instead in finding their managers.

As sci-fi author William Gibson said, the future is already here. It’s just not evenly distributed.

Upheaval in product development and new offerings made possible by connected devices mean insurance's 'moment of truth' is evolving rapidly.

Across the industry, carriers report that basic third-party data capabilities are common and that pilot activity is high.

Machine learning adoption has been growing at a rapid pace, and there is no end in sight. Recent forecasts say pilots and implementations, as well as investments, will increase 400 percent by 2021.

Despite the strong and inherently negative narrative around the impact on jobs, the bulk of the impact from the automation of work through AI will result in a 'displacement' of work not a 'replacement' of work.

insurers have an opportunity to use the same data integration techniques for data prefill to automatically integrate data into more complex lines of business.

A chatbot might very well be a slower interaction than a well-designed portal, but there is other value.

For the first time ever, emerging technology investment has superseded customer understanding as the No. 1 thing firms want to do to be more innovative.

Using APIs and microservices to modernize service offerings results in fewer layers of complexity.