Category: Thought Leadership

In 2021, climate-change actions by U.S. regulators will create both challenges and opportunities for insurers.

Electric vehicles’ market share may surge from 2% to more than 25% by 2035, with major implications for drivers, insurers and a host of businesses.

This is an exciting era for insurance, and actuaries have an opportunity to expand and redefine their roles in these changing times.

Big Tech companies are breathing down the necks of insurance companies. Giants like Amazon, Apple and Google have upped their innovation games in recent years, setting the customer experience bar higher than ever with their data-centric, consumer-focused business models.

With the outbreak of COVID 19, the use of telehealth services for health diagnoses and treatment surged in 2020. In fact, according to the Centers for Disease Control and Prevention, during the first three months of 2020, the number of telehealth visits increased by 50%.

Almost one year into lockdown and with no end to restrictions likely for the foreseeable future, the outlook for many does seem bleak. But there are silver linings that are becoming increasingly evident. One of the most apparent is the sheer display of true British resolve, where people have found innovative ways to start their own small businesses after being furloughed or made redundant.

Accenture research suggests that for North American insurers, customer experience and distribution innovations deliver the best returns. Since agents play an outsized role in the customer experience and expanding distribution, we recommend insurers focus on innovations that will empower agents throughout the customer journey.