ITL FOCUS: Cyber

May 2021

In high school, a friend of mine had a poster on his wall that read, “Just because you’re paranoid doesn’t mean they aren’t out to get you.”

That pretty well summarizes how the world of cybersecurity and insurance works. Companies may feel paranoid for looking over their shoulder all the time, expecting something bad to happen, but we all know that there are plenty of bad guys out to find all the victims they can.

ITL FOCUS: Agents & Brokers

April 2021

Mark Twain reportedly once responded to a rumor of a serious illness by saying, “Rumors of my death have been greatly exaggerated.” Insurance agents and brokers could have said the same thing over the past decade and will likely be parrying those rumors for years to come. There’s no doubt that agents & brokers inhabit a world going digital and not every agent will migrate easily into the ever-more-digital world, but those who do will find the work more rewarding, both for themselves and for their ever-more-loyal clients.

ITL FOCUS: Strategic Innovation

March 2021

Strategy is what you don’t do. That was the dictum of the late, great Mel Bergstein, who way back in 1994 founded the pioneering digital strategy firm Diamond Management & Technology Consultants. (It became part of PwC in 2010.) I heard Mel’s line a lot, as a partner with Diamond from 1996 through 2003, and I think his are words to live by in the insurance industry these days. Everyone seems to have gotten the memo about the need to digitize insurance and to explore innovative ideas, but the present typically creates a real drag that slows movement toward the future.

ITL FOCUS: Blockchain

February 2021

Blockchain has held out promise for some time now and it may finally be coming into its own, with some uses starting to move into production. We’ve collected our thought leaders’ latest thinking on the topic in this month’s #ITLFOCUS, as well as an interview with John Sviokla about the future impacts and strategic implications of #blockchain, the ITL On Demand ‘Future of Blockchain’ #webinar series, and more.

ITL FOCUS: Commercial Insurance

January 2021

Much of the focus on innovation has related to personal lines. That makes some sense: Policies tend to be more cookie-cutter than in commercial lines, and individuals, spoiled by Amazon and other online resources, have demanded a better experience from insurers. But don’t sleep on commercial lines. As businesses see what’s changing in personal lines, they aren’t going to be left behind.