Compelling living services in workers’ comp insurance
In this blog series, I’ve looked at how workers’ compensation insurers and their clients can use industrial wearables and the data they generate to deliver a triple win: safer workers, lower insurance...
View ArticleUnlocking trapped value with strategic partnerships
In my previous post in this series, I looked at what incumbent insurers can learn from insurtech startups, with their inherent ability to identify and release trapped value in the insurance value...
View ArticleCombining the capabilities of multiple startups to solve larger scale challenges
In the previous posts in this series, we looked at what incumbent insurers can learn from insurtech startups and how partnerships can help insurers unlock trapped value. In this post, I’ll explore the...
View ArticleData monetization – the next oil or fool’s gold?
The explosion of data available to insurers has created huge business opportunities. We estimate that the monetization of data could generate up to US$8 billion of annual profit for the global...
View ArticleLooking forward to meeting you at InsureTech Connect 2018
The rising influence of insurtech firms is one of the most exciting developments in the insurance industry. This year’s InsureTech Connect (ITC) conference, in Las Vegas from 2 to 3 October, promises...
View ArticleStart-ups paint the future at InsureTech Connect
Scores of start-ups took to the stage at this year’s InsureTech Connect (ITC) conference to demonstrate their innovations and show how new technologies are likely to shape the insurance industry. Many...
View ArticleInsurtech firms could help carriers unlock vast data profits
Many big insurers are sitting with enormously valuable assets that they’re not converting into revenue. They’ve accumulated vast stores of commercial data that could bolster their profits significantly...
View ArticleFive smart tips for successful insurtech partnerships
The growing influence of scores of new insurtech firms, eager to disrupt the traditional insurance industry, has alerted many insurers to the huge potential of data monetization. Plenty of these...
View Article5 Must-Have Insurance Technologies for Every CIO’s 2019 Budget
Around 82 percent of the 623 insurance executives who responded to Accenture’s Technology Vision for Insurance 2018 survey agreed that their organizations must innovate at an increasingly rapid pace...
View ArticlePartnerships are the key to insurance data monetization
Partnerships are likely to be critical to the success of insurers’ efforts to monetize their data resources. Most insurance companies don’t have sufficient skills, infrastructure or experience to use...
View ArticleVeracity is critical to the success of insurance data monetization
Data monetization offers insurers huge opportunities. But it also presents them with some big risks they need to carefully manage. Inaccurate or corrupt information can quickly scupper insurers’ plans...
View ArticleCarriers must keep agile to stay in step with data laws
The introduction of new data protection legislation in Europe has shown how international laws and regulations can have a huge impact on companies’ data monetization initiatives. Multinational insurers...
View ArticleBold insurers are taking the lead in data monetization
While many insurers have been slow to capitalize on their vast stores of data, some far-sighted carriers have begun monetizing this increasingly valuable resource. They’ve started harnessing data from...
View ArticleNine insurers and insurtechs that are investing in cloud
In my previous series on cloud, I looked at how cloud adoption is disrupting the insurance industry worldwide. In this new series, I’ll explore how a strategic, comprehensive approach and the right...
View ArticleTime for insurance innovators to showcase their successes
The annual Efma-Accenture Innovation in Insurance Awards have proved to be a valuable catalyst for innovation in the insurance industry. The 2019 awards are likely to showcase a host of inspiring...
View ArticleCloud adoption for European insurers: trends and opportunities
Sixty-seven percent of 400 CIOs surveyed in 2016 believed that software as a service (Saas) would transform the insurance industry in five years or less. In my previous post, I explored examples of...
View ArticleFive core principles to guide your journey to cloud
In my previous post I explained why leading insurers are moving to cloud, and the opportunities that await you once you get there. In this post, I’ll explore how you can start your journey, how you can...
View ArticleFive steps for a smooth transition to cloud
Once you’ve decided to move to cloud and devised a blueprint and roadmap, the journey doesn’t end there. The beauty of cloud is that it allows you to be agile enough to innovate and adapt to change...
View ArticleWhat can insurers learn from Chinese insurtech giant Zhong An?
“Zhong An is different because of you.” When you visit the Chinese online-only insurance company’s website, the first thing that strikes you is the company tagline. So simple, it translates easily to...
View ArticleThe sharing economy offers insurers lucrative new revenue streams
Sharing economy offers insurers lucrative new revenue streams In her groundbreaking 2010 book, What’s Mine Is Yours: The Rise of Collaborative Consumption, Oxford University professor and trust expert...
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