Wearable technology

Companies that deploy wearables to promote better employee ergonomics are getting ahead of the curve.

Digital Insurance spoke with Claire Burns, chief marketing and communications officer at The Hartford about digital customer experience and plans for the future.

We want insurers to transform from premium collectors to lifelong protectors. And technology is at the core of helping them achieve this.

Insurers that are able to make the best use of data are already winning market share, improving key ratios and generating superior risk intelligence, according to a report from the Capgemini Research Institute.

Allstate and John Hancock recently announced a partnership to reward John Hancock Vitality members with points if the policyholder is also a safe driver with the Allstate Drivewise program. The alliance is the first of its kind and could be an indicator of where the insurance industry may be going.

It is no surprise that insurers are looking to health tracking technology to create new possibilities for accurate pricing and incentivizing better living.

Ecosystems, sustainability and workforce transformation were the main topics of the EY 2022 Global Insurance Outlook, which comes out in January 2022. It’s important to understand how digital transformation is uniquely related to each of those topics.

Only 32% of 2,750 U.S. consumers surveyed by the company in fall 2021 had been offered telematics-based insurance, the company said. Of those that were offered, 49% took the offer, and 64% have stuck with it.

By facilitating access to rich, unstructured data in real-time, technology is paving the way for insurers to employ greater personalization and become customer-centric. It can drive tremendous growth opportunities as well as cost and operational efficiencies by promoting wellbeing and prevention services.

New research highlights the evolving role of the insurance industry from reimbursements to incentivizing to reduce risk and prevent losses altogether.