Insure Think

As with most major purchases, insurance representatives lean on digital to help them provide top-notch service.

An in-depth examination at what the industry may look like in 2030 highlights dramatic changes across the value chain.

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.

Increasing adoption of digital processes, artificial intelligence and machine learning is opening up new opportunities for the profession.

Since there is no specific certification, compliance is based largely on certain 'appropriateness' standards and it’s up to each organization to determine what that means.

The industry isn't as reticent to adopt new technologies as it has been viewed, but its patience has advantages with quickly evolving segments.

Managing this crucial component of data management will help carriers get better results from their analytics, AI and blockchain initiatives.

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

Priorities are notably centered around the insurance agent for growth as well as investments in AI and data analytics.

While carriers may not be able to replicate the exact science, they should understand that organizational and cultural shifts can both attract the right talent and encourage the emergence of internal ideas.

The increased pressure to 'go digital' has attracted new blood ready and willing to take part in the transformation of the industry.

Insurance companies need to adopt the new marketplace mindset of transparent comparison and seamless user experience to keep customers engaged with the products we sell.

Carriers have to take care to clearly communicate the value of collecting more data from consumers.

By using updated tools to analyze driver behavior, insurers can work with underwriting partners to dig into data and develop personalized coverage.

Here are steps that will extend a risk management program to include outside vendors and reduce the likelihood of a breach due to factors outside an organization’s control.

Due to retirement and outsourcing, insurers are facing a steep drop in institutional knowledge about the industry, their products and processes.

Life & annuity carriers have had valuable opportunities to learn about new technologies, and not necessarily from their own mistakes.

Emerging technologies such as IoT, wearables and autonomous vehicles require rapt attention from insurers now, as they can fundamentally change the industry in ways never before seen.

The NAIC's three-year plan to adopt emerging technologies and a newly announced focus on distracted driving are sure to catch carriers' eyes.

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.