Category: Insurance

[ad_1] In this series of posts, I’ve talked about why personal lines and small commercial insurance carriers need to focus on reinventing the customer experience from end to end, and four different aspects of that experience that can help them drive growth—new products, a marketing transformation, embracing digital channels and improved customer service.   Technology to…

[ad_1] Data quality and data architecture are now recognized in insurance and most other industries as the fuel needed to address our biggest challenges. Building the digital core of any organization only works when you have the data quality to act on it.  In this edition of Insurance News Analysis, Abbey Compton and I talk…

[ad_1] Customer expectations are shifting towards a preference for holistic financial guidance. Today’s customers are looking for advice that’s tailored to their specific needs. They will actively switch to companies that can provide both personalized support and experiences that are aligned with their preferences.   In our last post, we discussed the four key reasons we…

[ad_1] In 2008, Accenture published the results of the first P&C Underwriting Survey in partnership with The Institutes. As the longest-running longitudinal underwriting survey in the insurance industry, this report reveals a holistic picture of where underwriting has been—and where we’re going. Namely, it shows us the relationship between the goals leaders set over the…

[ad_1] As changes in risk and macroeconomics—especially inflation—continue to influence insurance industry dynamics, regulators remain engaged to help insurers and customers adjust accordingly. But not all interventions are achieving their intended outcomes. In this month’s Insurance News Analysis, Joanne Laffan and I discuss the unintended consequences of the UK Financial Conduct Authority rules intended to…

[ad_1] The recent Qorus Accenture Innovation in Insurance Awards highlighted the world’s leading insurance changemakers. The winners of each category stood up against tough competition with initiatives that were not only innovative, but effective and with measurable impact. In this blog series, I will be delving a bit deeper into each category, illustrating how each…

[ad_1] How do insurance companies build strategically resilient business models in an unpredictable future? To start, the future isn’t entirely unpredictable. The impacts from many of the most talked about disruptors, including telematics, climate change, automation, AI-driven service models and many more, are proliferating through the insurance industry. Now the questions are: How rapidly will…

[ad_1] Insurance underwriting is fundamentally a data-driven practice. With an increasingly interconnected world producing far more data than an individual human can process, computers and AI have come in to support data analysis and decision-making. Quantum computing has the potential to change the way the insurance industry uses data in underwriting, and beyond. While we’re…

[ad_1] An insurance claim comes at a stressful time in a customer’s life, often making it a negative experience. At least, that’s what you might assume. That’s why I was surprised when our latest research report, Why AI in Insurance Claims and Underwriting,   Speed of settlement drives claims satisfaction in insurance Overall, our survey found…

[ad_1] The insurance industry continues to cope with an aging workforce and with the impacts of the Great Resignation. To fill the resource gaps, carriers are increasingly turning to collaborative robots, or cobots, to help train and retain younger workers.  In this Insurance News Analysis, we were delighted to welcome Matt Coughlin, Founder & CEO…