Thought Leadership
We regularly curate the latest insights and reports provided by and in collaboration with our partners and stakeholders to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
3 Ways to Simplify Your Claims Operations
To provide clients with quicker and better service, you want to simplify your claims operations in insurance; the customer experience matters. If you want to succeed in the industry, you have to realize it’s about streamlining things for an overall satisfactory outcome for them.
Matt Connolly: Insurtech M&A takes ‘upward swing’ as pandemic bolsters digital transformation
Sønr’s chief executive predicts that insurtech M&A will double in 2021 – so far, 45 deals have been completed in the first six months of the year.
Top 3 Ways Carriers Can Prepare Policyholders for Catastrophic Events
Insurers lose billions each year due to losses caused by major catastrophes like earthquakes, floods and storms. In 2020 alone, Aon estimated that insured property losses from natural disasters in the U.S. climbed to around $74 billion in losses, much higher than the 10-year average.
France’s Covéa Reportedly Interested in Grabbing AXA XL’s Reinsurance Business
Covéa, the French non-life mutual, is interested in acquiring AXA XL’s reinsurance business, AXA Re, in deal that could be valued at €5 billion, according to press reports.
Re/insurers should reorient their thinking to become even more data led: Swiss Re’s Ian Haycock
With advancements in technology enabling carriers to leverage data in a more meaningful way, the insurance and reinsurance industry has an opportunity to refocus its thinking, derive greater insights and transform some of the inefficiencies within the business, according to Ian Haycock, Chief Data Officer at Swiss Re.
Zurich CEO: Public-private insurance schemes needed for systemic loss events
Total insured losses related to the COVID-19 pandemic in the global re/insurance industry could end up settling close to US$50 billion, according to Zurich-based PeriStrat LLC, which aggregates publicly available loss reports from insurance and reinsurance companies to analyze how COVID-19 losses are developing.
More young people are buying life insurance because of COVID-19
You can add another item to consumers’ pandemic shopping list: life insurance. The number of life insurance policies sold jumped 11% in the first quarter from the same time a year ago, according to the industry research firm Limra.
How insurers are divesting to shift to a digital future
The COVID-19 pandemic is accelerating the transformational trends impacting the insurance sector and highlighting the need to take bolder actions in areas such as digital capability and effective engagement to address the customer’s needs post-pandemic. Over 90% of companies in the sector report that the changing technology and competitive landscape are directly influencing their divestment plans.
Is the future of working in insurance about to change?
Jérôme Itty knows all too well the challenges of onboarding new hires in a remote work environment. “I’ve experienced it myself,” said AXA XL’s chief operating officer in the Americas.
Nationwide betting home work will prove value of digital innovations
Like major companies across the U.S., Nationwide executives in the early part of 2021 were discussing the process of repatriating some work-from-home employees to the office as the COVID-19 pandemic receded. That’s when inspiration struck.
Ping An Chairman Marks 33rd Anniversary of Group with Message: My Thoughts on the New Digitalization
Peter Ma, Chairman and founder of Ping An Insurance, marked the 33rd anniversary of the company with a reflection on the impact of digitalization on human progress and productivity.
Accenture: The top trends defining insurance revenue
The insurance revenue landscape is shifting in a myriad of fast-acting, unexpected ways. In our recent Insurance Revenue Landscape 2025 study, we were able to analyze customer demands to understand the trends shaping global revenue pools. Based on this research, we predict that the insurance industry will be influenced by the following four areas of innovation.
Bright Health IPO tests market’s desire for new insurers
Bright Health Group Inc. shares began trading on the New York Stock Exchange Thursday, the latest issue to test investors’ appetite for new health-care companies that have yet to show profit but are aiming for high growth.
How automation can drive business imperatives in the insurance industry
Automation brings in efficiency, better distribution, reduced overhead and lower latency. Therefore, routine tasks around claims processing, servicing, mail centre management, present enormous opportunities for automation.
The value of capital has changed & re/insurers have to adapt: Swiss Re’s Mumenthaler
As capital has become more plentiful and continues to look to insurance risks, it’s no longer the main value of what carriers need to deliver in the market, which in turn has raised the importance of scale, efficiency and ownership of the client, according to Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re.
Allstate CEO Strategy: More Independent Agents But No More ‘Human Modems’
Allstate Corp. wants to buy more independent insurance agencies this year to build the business it acquired with its purchase of National General, Allstate Chief Executive Tom Wilson told Reuters on Wednesday.
Why insurtech should avoid incrementalism
It’s 2021 and fintech is more than mainstream. The neo-banks are snapping at the big banks’ heels, Robinhood traders are dominating the headlines, and more mortgages are being done online than not.
How to build truly flexible insurance products
In today’s webinar we discussed the possibilities of digital product development, and how a flexible mindset within teams can drive dynamic, flexible products.
How is digitization altering insurance claim settlement?
Over the past few years, changing business landscape, new digital-first entrants, and evolving customer expectations have transformed the way companies deliver services and handle the moment of truth, yes, including insurers.
Why brokers are the key to breaking down cyber insurance barriers
In the last week alone, multiple high-profile cyber incidents have made the headlines of news sites across the world, impacting everything from high-profile insurance companies to healthcare providers.
The future clients want to see in auto claims processing
After an initial surge, the number of clients taking advantage of virtual claims processing has dipped. For insurers, now is a critical time to evaluate their processes and figure out how to properly provide a touchless experience, says a recent report.
Digitization, Automation, AI Define Role of Human Agents in Insurance Industry
The digitization of the insurance industry is inevitable but human interaction is still an essential part of the process. Paul Ford, CEO of insurance platform Traffk, explains how the companies that will succeed are those that use data and automation to develop better products and help their agents become advisors.
How are insurers communicating digital strategy?
IT strategies establish a vision for the future and can be motivational if communicated properly.
Digitisation in Financial Services and Insurance: Key things to remember while preparing digital strategy
An outcome of 2020 is the emergence of a digital economy – one where digital avenues and alternatives are just as effective as traditional engagements were in 2019.
Aon-WTW Merger Would Help Boost Industry’s Innovation. Aon CEO Makes the Case
The enhanced ability to innovate is a principal motivator for Aon’s proposed acquisition of Aon and Willis Towers Watson. It’s a message that Aon CEO Greg Case has been emphasizing since the $30 billion deal was announced in March 2020.
Is Insurance Missing Out on the Crypto Opportunity?
While the full potential of blockchain is yet to be revealed, its far-reaching applications, in combination with adjacent technologies, has the potential to transform every industry—including insurance.
Ping An Life is Driving Reform to become World-leading Insurer
Ping An Life’s reform is driven by a combination of digital empowerment and a “heartwarming” value system, said Peter Ma, Chairman of Ping An Insurance. Mr. Ma spoke at the 25th Ping An Life Insurance Summit in Chongqing.
McKinsey warns life insurance is blind to power of AI
McKinsey has warned the life insurance industry does not realise the full impact artificial intelligence (AI) will have on the sector.
How AI Plays Into the Future of Risk Management
Risk analysts have always relied on data to guide decisions toward strong growth potential and away from high-risk strategies. This used to be a fairly linear process, but now that up to 90% of our data is unstructured, information is not only difficult to organize into digestible formats but also produced in volumes that go beyond the capabilities of human analysts aided by conventional data systems.
How automated claims can revolutionise customer and insurer experience
In our latest webinar, we discussed how automation in the claims process can improve customer experience, optimise the efficiency of claims and make insurers’ lives easier.
Data analytics ‘the Holy Grail’ for insurers
Most insurance organisations look the same at their core. They’re supported by the same foundations, they share the same core processes, they produce similar products, and they share the same goal of transferring risk while supporting a profitable industry.
Digital disruptors to revolutionise Insurtech market in 2021
Digitisation will disrupt the traditional life insurance sector in 2021 as Millennials and GenX embrace financial protection and ‘embedded insurance’ products, according to technology investment bank ICON Corporate Finance which recently secured £5m Series A funding for innovative InsurTech start-up Anorak.
6 Insurtech startups revolutionizing the corporate Insurance landscape in India
The ongoing global pandemic has brought the health insurance industry into the spotlight. Over 80% Indian population does not have any personal health insurance cover and the others are heavily dependent on their employers for insurance and other regular welfare benefits.
AI-driven customer experience: Smart move for life insurers
Life insurers that invest in artificial intelligence (AI) can improve the customer experience by making it more personalized and data-driven. With AI, carriers can profitably attract and retain customers with new “pay-as-you-live” products and services that reward consumers’ healthy habits.
insurtech talk with Kamet’s Stéphane Guinet: How to get your insurtech noticed by VCs
This week Stéphane Guinet, founder and CEO at Kamet Ventures discussed the key attributes of startups that can rise above the rest and attract major funding.
Digital Engagement Pays Its Way by Opening Supply Chains
Digital experiences that will not only be efficient and resilient, but they will pay for themselves through improved customer and agent engagement and far greater profitability due to smarter risk selection and greater portfolio management.
Moving Beyond 2020: How insurers supported their agents, partners and employees
While most insurers offered financial relief for customers, a more limited number of insurers launched financial assistance specifically for agents and partners.
Insurtech talk with Swiss Re’s Silvi Wompa Sinclair: How reinsurers can bring their underwriting into the 21st Century
This week we spoke with Silvi Wompa Sinclair, group head of portfolio underwriting at Swiss Re Institute, on modern approaches to data, cultural shifts in reinsurance and how incumbent reinsurers can forge effective partnerships with fresh players in the space.
‘Zombie’ companies likely to keep commercial insurance rates rising – Swiss RE
The expectation that hundreds of so-called zombie companies will fail over the next few years and drag on the economy is among the major concerns prompting insurers to reduce risk and charge higher premiums, a trend likely to continue as failures increase, Swiss Re AG said on Tuesday.
How to leverage data to thrive in spite of a hard market
In today’s webinar, we explored approaches to modernising underwriting, AI and machine learning solutions and how to embed data-driven solutions into the heart of insurance workflows.
Rethinking cyber insurance
Cyber insurance seems smart but risks increasing criminal behaviour and may be an unsustainable business model.
Insurance telematics: Past, present and future
Usage-based insurance (UBI) has finally come of age in the US insurance sector. Insurers have spent the last 20 years exploring the potential of telematics with alternating curiosity, commitment, and disillusionment.
Insurers Invest In Digital For Better Customer Experience: Capgemini And Efma
Insurance Technology Innovations are changing the face of insurance business and making it more dynamic. With the advent of latest technologies, insurers are now not far behind in providing better services and solutions to their clients.
Insurance Technology Innovations
Insurance Technology Innovations are changing the face of insurance business and making it more dynamic. With the advent of latest technologies, insurers are now not far behind in providing better services and solutions to their clients.
Aon using IoT to cover Covid-19 vaccine supply chain is ‘game changer’ says GlobalData
Aon’s specialised cargo insurance product that uses the Internet of Things (IoT) to provide supply chain cover for transporting the Covid-19 vaccine globally is a “game changer” for this line of business, according to data and analytics firm GlobalData.
The Future Of Insurance: Fintech 50 2021
The insurtech companies featured on the 2021 Forbes Fintech 50 are innovating in a space that has long been associated with antiquated processes and practices—and lots of paper.
Digital Customer Experiences: The Future is Modular
With the proliferation of microservices and APIs, will UIs go modular too? Some technologists note a rising trend around smaller, intent-based customer experiences that more directly mirror API endpoints.
Duck Creek’s CSO on ‘orchestrating’ strategy
Eva Huston had an unconventional start in the insurance industry. She originally planned to use her B.S. in Foreign Service from Georgetown University to “become a diplomat and save the world,” but life had other plans for her.
Three European Insurtech Execs Offer Their Views on a Potential Wave of European IPOs
There has been a raft of US insurtechs recently going public, leading to speculation that European insurtechs might follow suit.
How insurtech could transform the insurance industry
Data has always been of high importance to insurance companies when undertaking multiple basic functions. With digital transformation taking over, insurance technology is in the spotlight as a growth concept in the sector.
Is Technology Changing the Insurance Industry?
The obvious answer to this question is, of course, Yes! Technology is always changing industries—always innovating, building, adapting, evolving. In this regard, the insurance industry is no different than any other.
Creating the Next Generation of Customer Experience
In today’s digital economy, customers expect better and personalized products, round-the-clock services, and frictionless online and offline experiences. Given ever-mounting customer expectations, how can enterprises attract and retain their customers?
Startups to save insurance industry from Covid-19 battering
Stephen Brittain is late for a board meeting. For the first time in months, the co-founder and director at UK-based insurance technology incubator Insurtech Gateway and his team are back in the office. As a result, he’s finding himself stretched for time.
Everest CEO Mike Karmilowicz Talks About the Importance of Talent and the Rapid Expansion of Risk
Mike Karmilowicz of Everest Insurance shares details about his company culture, the threat of cyber and how technology will impact the insurance industry going forward.
How AI is shaking up the insurance world
Companies now have the opportunity to provide personalized, on-demand products to protect clients — without over-insuring them with unneeded policies.
Riding the digital wave
Insurance brokers and their customers live in a digital world where almost everything can be achieved online, whether it’s buying tailored computers, getting real-time assessment of current computer specifi-cations, leveraging expert advice or obtaining consumer recommendations. The consumer chooses the channel and can swap seamlessly between them throughout the life cycle.
The case for insurance loyalty programs
Insurance is infamous for having one of the highest customer acquisition costs of any industry.
The European insurance growth forecast
How insurers create value for their customers has changed rapidly over the past year, which means that the fundamentals of how an insurance carrier generates revenue has changed. If you want to gain an advantage as an insurer, now is the time to listen to the changing market and innovate accordingly.
The data transformation of insurance
The insurance market is facing changes in risk, regulation and customer expectation – data will be its ally.
4 ways to enhance consumer loyalty and make your customers your greatest advocates
In our latest webinar, we discussed how to engender loyalty among your customers and give them an experience that turns them into great proponents of your company.
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