Insure Think

It’s important that both RPA service providers and their corporate clients keep in mind the one major roadblock to successful automation is employee fear.

The Facebook CEO made it clear that, even today, he isn’t concerned with what users might reasonably expect him to do with their data, as long as he’s taking care of his 'third-party problem.'

The cash and companies are flowing in, but there are still only a small number of visible use cases that have made a difference in the industry.

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

Retailers are eyeing health insurers as acquisition targets to improve their pharmacy business, but carriers' information assets and analytics prowess are prizes as well.

Digital channels are proliferating rapidly, and carriers have to be strategic in how they reach customers.

Organizations that adopt Voice over Internet Protocol for their communications, such as video conferencing, need to take additional steps to keep sensitive data secure.

Insurers need to nurture ‘intrapraneurs,’ who are looking for ways to transform their companies from within.

Retraining efforts are becoming popular because it's easier to teach tech knowledge to industry experts than vice versa.

Those investing in artificial intelligence should consider exactly what the company will most benefit from, and which technology will help it reach those goals.

Machines are taking over much of the grunt work associated with tasks, elevating the roles of humans to adopt more strategic roles.

The proposed Walmart-Humana combination is the latest of a series of moves that point to an abrupt change in the industry.

It's crucial that insurers develop clear career-path options for these valuable staff, because there will be lots of competition for the skills.

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

Voice assistants provide carriers with another digital channel for engaging their policyholder customers, but the platforms remain somewhat limited for now.

Carriers need to address the basics behind digital transformation in order to fully leverage new opportunities, says Accenture.

Car insurers are leveraging a range of digital solutions to slow crash losses as Distracted Driving Awareness Month approaches.

SMA sees significant spending and shifts in personal lines projects that are aimed at aligning insurers’ strategies to transformation and growth.

For insurers, thinking of the network of capabilities available in specific geographical areas can provide tangible advantages when it comes to delivering on the promise of major technological advances.

Business-wide transformation begins with a thorough diagnostic of competitive strengths and challenges that enables leaders to prioritize where they want to start.

Carrier leaders are optimistic that they have figured out the best way to navigate digitally driven upheaval in the industry, says PwC survey.

Incumbents need to think like challengers: They have everything to lose, and not a lot to gain.

The life insurer convened a panel of diverse experts to improve workflow for financial advisors leveraging mobile technology.

Larger, incumbent companies are finally learning the rules of the disruption game, and are coming back stronger than ever.

The combination of insurers announced this week shows the importance of technology innovation to M&A strategy.

Across lines of business, insurers are looking to leverage their intellectual property to create more income streams.

Being situationally aware and open to possibilities become the foundation for a world where successes breed future successes.

The drivers are disruptive market and technology forces that are reshaping everyone’s business environment and everyone’s concept of 'customer' and 'service.'

Cloud for ancillary services has risen in insurance, and within the past few years the trend has expanded to include core as well with Tier-1 carriers migrating to the model.

As transportation preferences evolve, the way insurers are connected with drivers will as well.

Incumbents benefit from high barriers to entry, but are themselves less efficient and innovative, Accenture claims.

With enough information produced directly by vehicles, insurers can get most important information without making the customer work too hard.

Moves from Allstate units Answer Financial and Arity, as well as MassMutual, illustrate increasing value of analytics expertise outside core insurance products.

Carriers need to combine traditional initiatives, such as business intelligence and core modernization, with investments in insurtechs.

Developers can now really push the limits of their artificial intelligence platforms, giving them not just more human-like and life-like speech patterns, but also more accurate responses.

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

Biometric and mobile technology offer carriers opportunities to engage customers more often and with more value.

CDPs enable reliable and standardized data to inform consistent, data-driven customer engagements, which is where data becomes information.

Insurers can expect to receive a lot of update requests during the claims process, and should turn to AI to process them efficiently.

The industry is not just building for prime, low-risk, high-end customers: The more sustainable value comes from a little bit of revenue from a lot of customers.

Innovation teams understand that the connected world is evolving rapidly, and that competition is coming from industry newcomers as well as incumbents.

We have seen solutions with a specific focus are easier to utilize in practice than general solutions that look to leverage an emerging technology for multiple use cases.

Skill shortages, funding issues and other structural problems hamper efforts to modernize systems and processes for insurance companies.

Incumbent insurers are becoming more active than ever in the insurtech sector, defining its path.

True benefits of RPA are only possible with a logical implementation plan backed by a thorough governance framework and strategy.

Carriers will need someone who owns data at an enterprise level to ensure effective governance.

When RPA platforms are integrated with chatbots, they open the possibility for chatbots and voice bots to handle more complicated, less routine driven tasks in real time.

No matter how much data is available, there needs to be a cadre of professionals who make sure AI and analytics systems are on target.

Insurers are leveraging connected devices to solve a wide range of customer issues.

Without a clearly articulated set of business value metrics for IT, it can be a challenge for leaders to create compelling business cases for new investment opportunities.

The adoption of machine learning and the need for access to data beyond just data science team is changing how many firms approach information warehousing.

Insurers must consider how to incorporate digital transformation, insurtech and emerging technologies into their business and technology strategies.