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European Predictions 2023: Insurance

Forrester Digital Transformation

Insurance firms in Europe will face considerable headwinds in the coming year. Age of the Customer insurance industry trends predictionsRead our predictions for how they will handle them.

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Europe Predictions 2022: Insurance

Forrester Digital Transformation

Find out what Forrester predicts for insurance companies in 2022 and beyond. Europe financial services Insurance insurance industry trends predictions

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‘Future vehicles require future insurance’

McKinsey and Company

In an interview with McKinsey’s Tanguy Catlin, Andrew Rose of OnStar Insurance discusses how telematics data will usher in a new era of auto insurance. Insurance Big data Analytics

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Global Insurance Report 2023: Reimagining life insurance

McKinsey and Company

The global life insurance industry is facing an inflection point. Insights on Financial Services Insurance Strategic planningA fundamental reimagination will usher in significant change.

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Embedded Insurance Meets Customers Where They Are

Perficient Digital Transformation

In this blog, we’re going to stay in the world of finance, but pivot to embedded insurance. Recall flying back in the 1970s, when airlines began offering life insurance at the airport to folks before they boarded their flight. i-Insurance anyone?

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Top Four Themes From The Future Of Insurance In Europe, 2022

Forrester Digital Transformation

The four significant insurance themes that emerged from The Future of Insurance, Europe 2022 event. AI Insights insurance industry trends insurtech machine learning

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What Is Cyber Insurance And How Does It Work?

31 West

Cyber insurance is a policy that can help hedge a business from the potential fallouts of a cybersecurity attack. The article will look at cyber insurance – what it is, what it covers, what it does not cover, and why it is essential for technology-oriented businesses today.

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Reimagining the life insurance model in 2023

McKinsey and Company

Leaders in McKinsey’s insurance practice discuss industry trends and how companies can be successful by rethinking the life insurance model. Insurance Strategy Managing in Uncertainty Organization

Insurance 101
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Insurance Solutions Specialists Trailblazers | Market Insights™

Everest Group

Trailblazers VIEW THE FULL REPORT Insurance Industry Market Insights™ insurance SCM SVM trailblazer

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Cyber Insurance: What The Changing Power Dynamics Mean For You

Forrester Digital Transformation

Cyber insurance is only one component of a bigger enterprise cybersecurity risk management program. However, the cyber insurance market has been on a roller coaster, with skyrocketing premiums, changes in coverage, and a demand for policies that outweighs available supply.

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How to Improve Your Organization’s Customer Experience in the Age of Digital Insurance

Perficient Digital Transformation

As customer expectations around how to purchase insurance online evolve, it’s crucial for insurance carriers to create online purchasing experiences that exceed expectations and drive revenue and growth opportunities for their organizations.

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Who’s Responsible For Cyber Insurance Policy Misrepresentations? It Depends.

Forrester Digital Transformation

On July 6, 2022, The Travelers Property Casualty Company of America (Travelers Insurance) filed a suit in Illinois Federal Court against International Control Services, Inc (ICS) asking for policy rescission and declaratory judgment against ICS. insurance industry trends risk management

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How the Asian insurance market is adapting to the future

McKinsey and Company

In this podcast, three McKinsey partners and leaders of the Insurance Practice discuss the themes that will define Asian insurance in 2023 and beyond. Insurance Global forces

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InsurTechs Are Enabling Insurers to Unlock Significant Unrealized Value Across Core Operations | Market Insights™

Everest Group

InsurTechs VIEW THE FULL REPORT Insurance Industry Market Insights™ insurance insurtech SCM SVM

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Insurance: Transforming risk and compliance

McKinsey and Company

As economies emerge from the pandemic and plan for the next decade of growth, insurance companies need to rethink the strategic function of risk. Risk & Resilience Insights Insurance Risk management organization

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Capturing the climate opportunity in insurance

McKinsey and Company

Here’s the role insurers can play. Insights on Financial Services Property & casualty insurance Climate changeThe world’s transition to net-zero emissions will cost trillions of dollars and present new kinds of risks.

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On the brink: Realizing the value of analytics in insurance

McKinsey and Company

Insurers in Europe, the Middle East, and Africa invest significantly in advanced analytics but have unlocked a fraction of the potential value. Insights on Financial Services Insurance

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How personalization at scale can invigorate Asian insurers

McKinsey and Company

Insights on Financial Services Insurance Asia-Pacific Digital strategy and organization AnalyticsThe surge in digital consumer interactions is making possible a new era of gathering, analyzing, and responding to individual customer data strategically and with precision.

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How European Auto And Home Insurers Can Differentiate On Customer Experience

Forrester Digital Transformation

Forrester surveyed customers of the 32 of the largest and most important auto and home insurance brands in France, Germany, Italy, Spain, and the UK about the quality of their experiences as a part of our European Auto And Home Insurers Customer Experience Index, 2021.

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Uncovering a Massive Insurance Industry Cloud Opportunity | Blog

Everest Group

Cloud computing presents a huge opportunity for insurers to drive growth, improve efficiency, and deliver innovation, among other benefits. Read on to learn about the coming phase of industry cloud and the key role system integrators (SIs) can play in advancing cloud adoption in insurance.

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Computer Vision Technology Is A Promising Latecomer To The Insurance Market

Forrester Digital Transformation

Computer vision technology is a recent entrant in insurance, but it has the potential to revolutionize how insurers process claims, identify fraud, and evaluate risk.

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Creating value, finding focus: Global Insurance Report 2022

McKinsey and Company

The insurance industry struggles to create economic profit. Insights on Financial Services InsuranceBut amid COVID-19’s enduring changes, opportunities await.

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Unleashing the Potential of Data in Insurance – The Road Ahead | Blog

Everest Group

Leading insurance organizations seek to be more data-driven in their business decisions by harnessing the full potential of the data that resides within their enterprise boundaries. How will the insurance industry progress toward a data-driven approach?

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Why the Shopping Cart is Irrelevant in Insurance

Perficient Digital Transformation

In our previous blogs , we’ve documented how insurance is a complicated product for the traditional commerce process. Insurance is one of the few products that is purchased that one hopes to never have to use – fulfilling a claim means something bad has happened.

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Insurance MGAs: Opportunities and considerations for investors

McKinsey and Company

Managing general agents (MGAs) fill key roles in the insurance distribution chain. Insights on Financial Services Insurance Top team effectivenessThe more informed investors are about how MGAs function, the better they can recognize opportunities.

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Predictions 2022: Insurers Will Find Value In New Processes, Products, And Distribution

Forrester Digital Transformation

After a challenging 2021, insurers will tap new data sources to find hidden profits in challenging areas. Age of the Customer insurance industry trends insurtech predictions

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Creating an inclusive environment in insurance

McKinsey and Company

As one of the most diverse sectors for entry-level workers, the insurance industry has a unique opportunity to help marginalized people advance. Insurance Diversity Women & Leadership

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What every insurance leader should know about cloud

McKinsey and Company

Successful cloud migrations depend on knowing where the value for insurance lies in cloud and on business and IT working together. Digital Insights Insurance Cloud computing Digital strategy and organization IT cost & performance improvement Innovation Leadership

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How Automation Transforms Insurance Claims Processing

Invensis

Insurance claims processing is a lengthy, time-consuming, and complicated process. The post How Automation Transforms Insurance Claims Processing appeared first on Invensis Technologies.

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The new standard for insurance claims

McKinsey and Company

In this podcast, three claims experts discuss what insurers should consider as they update their technology, ways of working, and workforces to bring forth the future of claims. Insights on Financial Services Individual insurance Financial Services

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What every insurance leader should know about cloud

McKinsey and Company

Successful cloud migrations depend on knowing where the value for insurance lies in cloud and on business and IT working together. Digital Insights Insurance Cloud computing Digital strategy and organization IT cost & performance improvement Innovation Leadership

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How American Family Insurance is investing in the agency channel

McKinsey and Company

As insurers rethink agent relationships, American Family Insurance is looking ahead, investing in digital tools and solutions that help agencies stay on top of trends and changing customer needs. Insights on Financial Services Individual insurance Health Care Financial Services

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A new age for insurance procurement

McKinsey and Company

In this podcast, McKinsey experts explore the insurance procurement themes executives should consider as the tremors from the pandemic push them to rethink their service-provider relationships. Insights on Financial Services Insurance

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Choose Your Technology Correctly for Your Commerce and Insurance Strategy

Perficient Digital Transformation

In our final blog on insurance commerce, we build on the previous insights on strategy, customer needs, and internal readiness. We’ve always advocated a process-first mentality – and once these key inputs are ready, technology can be a great accelerator or activator of your strategy.

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Unbundling value: How leading insurers identify competitive advantage

McKinsey and Company

For US life insurers to address new and old challenges, they need a fresh approach to their business model and how they create value. Insights on Financial Services Insurance

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Lemonade’s Acquisition of Metromile: Start Your Engines! The Race For Digital Insurance Supremacy Just Took A New Turn

Forrester Digital Transformation

Last week Lemonade revealed Lemonade Car, its entry into auto insurance. This week, it announced the acquisition of Metromile, one of the largest usage-based auto insurers in the world. Talk about timing.

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Insurance Industry Investments in Data Can Create Significant Value | Market Insights™

Everest Group

Insurance Industry Investments in Data. Digital Services Insurance Industry IT Services Market Insights™ digital insurance ITVIEW THE FULL REPORT.

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Transformation Imperatives for Wholesalers and MGAs in Insurance: Exploring Opportunities to Unlock the Next Growth Phase | Blog

Everest Group

Managing General Agents (MGAs) and wholesalers are becoming increasingly relevant in the insurance ecosystem due to the unique advantages they have over brokers/agents. As insurance intermediaries that represent carriers, MGAs provide insurance products to retail agencies and insureds.

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Global Insurance Report 2023: Expanding commercial P&C’s market relevance

McKinsey and Company

Insights on Financial Services Insurance Strategic planningThe nature of risk is evolving faster than ever. Commercial carriers must step up to fulfill the societal desire for resilience in a volatile world by closing protection gaps—or risk losing relevance.

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Going all in: How one insurer updated its technology stack

McKinsey and Company

Enrique Laso of MAPFRE USA discusses the insurer’s decision to undertake a massive modernization effort and how it successfully managed this change while meeting its technical objectives. Insights on Financial Services Insurance United States

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Embracing Change & Other Insurance Trends We’re Forecasting for 2023

Perficient Digital Transformation

Whether you’re an insurance carrier or a broker, change is here and change is about to accelerate beyond the prior few years when our world was modified in ways none of us had ever seen.

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Global Insurance Report 2023: Closing the personal P&C protection gap

McKinsey and Company

Insights on Financial Services Insurance StrategyDespite overall growth, personal P&C lines are losing market relevance and facing a growing protection gap, with a clear dichotomy between local winners and losers. What’s next?

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Key North American BFS and Insurance IT Specialist Services Providers | Market Insights™

Everest Group

BFS and Insurance IT Specialists. Insurance Market Insights™ BFS insurance service providersVIEW THE FULL REPORT.