insurance

meeting notes executive business people

Chief financial officers at banking and insurance companies are playing an increasing role in digital transformation through leveraging new data and analytic technologies and by assuming greater influence in decisions about technology investments, according to new research from Accenture. The research published in two reports – one for the banking

insurance

Insurance carriers globally could generate US$375 billion in new revenue in the next five years by transforming and revitalising their businesses, according to a new report from Accenture. The report, “Insurance as a Living Business,” found that insurers that continuously innovate and adapt to changing customer needs will be able

Insurance Tech (InsurTech) has changed the face of the industry in a very short period, according to the latest World Insurance Report (WIR), released today by Capgemini and Efma, (2017 edition). The study found insurers confronted by a wave of new digital technology. The authors argue that InsurTech presents more technology-related opportunities than witnessed before,

At first glance the rise of autonomous vehicles looks like bad news for the insurance industry. Who needs insurance when your car never crashes? However, a new report argues there’s $US81 billion up for grabs for forward-thinking insurers which will offset a decline in traditional insurance premiums. Sign up for

CIOs in the insurance sector need to understand the disruptive potential of insurance technology startups (insurtechs) to complement their digital insurance strategies, according to Gartner. The research outfit said its research suggests that 64 per cent of the world’s 25 largest insurance companies have already invested directly or indirectly via

fintech

In a world where the mantra “fail fast, fail often” is championed, what exactly is an acceptable failure rate for pilot projects in retail financial services? A study conducted on behalf of Pegasystems, Marketforce and Cognizant put this question to 500 retail financial services and insurance industry executives across 56

What would happen to the insurance industry if a critical mass of autonomous vehicles eliminated many road accidents and injuries? Or if a digital giant with strong customer relationships — say, Amazon — began selling insurance? These scenarios are among a handful of threats identified by management consultancy  McKinsey &

Digital expertise will become increasingly critical in the insurance sector as digitization and machine learning leads to more highly ‘automatable’ insurance according to management consultants McKinsey & Company. Meanwhile a separate piece of research by Accenture found that insurance companies are accelerating the shift to a radically different distribution model, where they

As understatements go, saying that the US insurance market is a big market is up there with the best of them! It’s around $1trillion in size with the market split roughly 50:50 between commercial and personal. Let’s pick the commercial insurance market and look a little closer. Here we see

The rising tide of consumer expectations is outstripping the insurance’s industry’s capacity to deliver, leading to big declines in customer experience ratings over the last 12 months according to Capgemini’s World Insurance Report. In fact the study found that while agency channels delivered positive experiences, digital actually dragged down the sector’s