Customer experience

INN's first Dig In conference showed me that the industry is taking the mandate for innovation seriously.

According to remarks this week by Wall Street executives attending the Milken Institute Global Conference, the entire world of finance should fear job replacement.

Leaders from Farmers, USAA, Progressive and more shared insights into what helps their companies establish themselves as next-generation insurance standard-bearers.

Past insurance innovation strategies will not work in today’s digital age, according to USAA’s SVP of strategy and innovation Michael Merwarth.

New technology puts the onus on insurers to create platforms that can ingest new business models, says Farmers Insurance head of product innovation Mariel Devesa.

Mobile carriers never made a move on big data, machine learning and IoT tools, says Esurance executive, meaning insurers can grasp the opportunity.

The acquisition of Vertafore comes soon after it itself purchased Canada-based Keal Technology.

With the move, the P&C insurer aims to provide agents easier access to information, improving customer experience.

The European insurer is adding several crucial capabilities through partnerships, says COO.

Chosen startups will receive funding, weekly mentor sessions with industry leaders, and opportunities for pilot projects.