Digital Transformation

Carriers, pressed by lower expense insurtech models that emphasize direct-to-consumer engagement and new, rich data sources, are beginning to encounter a bifurcation of risk and client characteristics.

The decline is likely because of a lack of proactive support and personalized attention, according to a J.D. Power study.

Luis Pino began to see the pain points in insurance industry operations. He believed that agencies needed better technology. Pino used that idea to launch Agentero, a digital insurance network.

Over half or 62%, of insurers, say they will invest in risk management over the next year, with 55% saying they’ll invest in customer and employee data protection, according to the FIS’ 2021 Readiness Report.

In other news: Nexar partners with New York’s Black Car Fund and Hannover Re collaborates with ExamOne.

The data and decision-making insights gathered from IoT devices have been revolutionary for insurers, and the potential of this technology is just starting to be realized.

Pet insurers are using the same tools as other insurtechs to meet the needs of pet owners.

The pandemic didn't stop insurers from wanting to invest heavily in digital capabilities, Deloitte survey finds.

Insurers could see retention rates drop if they neglect to defend existing revenues through product and distribution innovation.

New technologies are expected to fundamentally change how insurance is distributed, but alongside this redefinition of roles comes an accompanying talent crisis.

To remain relevant, empower the team, and drive company goals, the actuarial workforce and business operating model needs modernization.

The pandemic-driven upheaval of society has important, long-term implications for the P&C insurance industry.

Adoption of new technologies and ideas need not wait for epochal events, nor can we assume the benefits of a new technology alone will overcome the context of a situation and habitual factors at play.

The digital future of insurance is a plane being built as it’s flying.

By tackling specific problems, carriers were able to keep the lights on during the pandemic.

Cybersecurity is top priority for the life insurer, says tech leader.

It’s been a great reminder to me that the industry can be stretched and challenged in a number of ways, and that it may require more of this type of risk taking at a micro scale in order to better manage the macro risks we all face.

Has insurance's 'noble purpose' ever been more relevant to society than now?

The pandemic increased the urgency for carriers to find new ways to connect with customers.