Insurers, If You Don’t Have an AI Strategy, You’re Already Behind

When it comes to AI adoption, many insurers have lagged behind their counterparts in other industries. But waiting is not a sustainable AI strategy. Insurtechs are adept at using natural language processing, machine learning (ML), deep learning and other AI technologies. These upstarts are leveraging AI to introduce a new range of innovative products, such […]

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Six Things to Consider When Contemplating a System Upgrade

Insurers have many reasons to contemplate a system upgrade: the need to modernize core IT and infrastructure, improve business capability with attractive new features and functionality, boost process efficiency and customer service with straight-through processing. Or, simply, maybe their licensing agreement requires it.  We’ve helped many insurers drive business outcomes via a system upgrade, including […]

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Can Digital Innovation Impact Insurance Ratings?

The clock is ticking for the insurance industry. In May, the comment period ended for providing feedback on a new procedure for scoring and assessing insurers’ innovation capabilities. According to AM Best – the rating agency creating the scoring mechanism – innovation is becoming increasingly critical to the long-term success of all insurers, especially with […]

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Shining a Light on Insurers’ Digital Capabilities

Every insurance executive I meet with recognizes the importance of digital to their ongoing business success, and most are full-speed ahead on programs to upgrade their digital business capabilities. But if I asked 10 executives to define what they mean by “digital,” I’d get 10 different answers. As a result, insurers may be investing in […]

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What CCPA Means for Insurers

Because insurance is a highly regulated, state-specific industry, insurers already have much of the structural underpinnings in place required by the California Consumer Privacy Act (CCPA). Yet the new legislation is disruptive to insurers for two distinct reasons. One is that it requires carriers to know precisely where their data goes – a detail not […]

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Putting L&A Insurance Tools Directly in Consumers’ Hands

Talk to senior life and annuity (L&A) insurance executives, and you’ll hear a common theme: How best to adapt to the rising customer expectations and disruptive changes underway? Consumers, especially millennials, who are accustomed to one-click ordering on Amazon or Uber, don’t understand why buying life insurance needs to be so confusing and time-consuming. They […]

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Playful Brands Are Redefining ‘Customer Trust’ in the Digital Age

Banks called Atom, N26, Bunq and Monzo. Insurers named Lemonade and Oscar.  In their efforts to distinguish themselves from longtime industry stalwarts, new entrants into the fields of banking and insurance are choosing playful, whimsical names that make no reference to the space they’re trying to disrupt. Previous nomenclature in these business spaces has revolved […]

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