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.

'Smart toothbrush' maker Beam has launched an insurance product leveraging 'brush-driven underwriting.'

The German auto insurer will use data collected from IMS' DriveSync5 to reward drivers with discounts on premiums.

The insurer is providing quotes to compare.com customers in California, with intentions of expanding to other states by year's end.

Trov's mobile app allows consumers to turn on and off insurance coverage for items like laptops and bicycles.

Systema Software's tech is now managing the insurer's worker's compensation claims processes.

We expect to see an increasing, widening gap between those insurers that have invested in the how of innovation and those that have not.

Insurers might rethink their digital strategy based on desired outcome, because like it or not, a growing number of customers are leading the charge for digital alternatives.

The carriers, along with several vendors and industry groups, are supporting the 'Insurance Digital Revolution.'

Intelledox's adaptive engagement platform will improve customer experience and eliminate the insurer's manual processes.

The specialty insurer will also receive Guidewire’s policy admin and rating systems, as part of the agreement.