MGAs and E&S carriers are thriving, and they have lots of runway in front of them. They can continue to exploit their deep understanding of market niches, can drive efficiencies in the often-cumbersome underwriting process and can increasingly fit into insurers' processes by being at the forefront of APIs.

Coastal home and business owners need adequate protection now as much as ever, especially as climate change leads to more severe and frequent storms. 

At Oliver Wyman, we have been helping clients understand Web3 and what it means for insurers, and guiding strategic moves — near-term and longer-term — around this evolving ecosystem. Our latest research finds the Web3 economy is currently under-insured and has huge potential for future growth. Here, we share a practical guide for insurance executives to help separate hype from reality, including Web3 insurance opportunities and risk considerations.

Amazon and Mark Cuban have entered the pharmaceutical industry. Will they disrupt things in a way that delivers more efficiency and value for Americans? 

At what point does social inflation severely constrict the availability of certain lines of coverage and thereby give rise to legal remedies, such as tort reform?

Using a logical data fabric, insurance companies can apply a modern, agile approach that also allows them to streamline their data governance efforts.

Demand for data in today’s insurance companies is outpacing supply, and, in most cases, the throttle is organizational rather than technical.

As the industry faces mass retirements and a challenging labor market, it’s time to get down to brass tacks. Maybe the solution is simpler than we think. 

How do businesses/defendants and carriers combat the effects of social inflation? It is definitely not a simple challenge, but here are three key considerations.

WeFox raised money at a valuation of $4.5 billion. My first reaction is the same one I had when Root raised funds at a valuation of $3.65 billion: This makes no sense. 

While many factors contribute to social inflation, analysis suggests that an increase in non-fatal auto accidents may be one of the most influential.

Insurers with future-ready operations are 2.8 times more profitable and 1.7 times more efficient than their peers. Yet only one in 10 insurers is at that stage.

The past several years have demonstrated that the insurance industry really needs to understand the social inflation landscape so we can begin to address it.

Natural language processing can transform a burdensome process, freeing claims professionals to apply their expertise where it makes the biggest difference.

There is no simple cure to the ills of social inflation, but a sustained and consistent effort by insurers can start to address some of the symptoms.

While the metaverse is still largely theoretical, providers of group and voluntary benefits might be able to capitalize on this emerging technology. Let’s speculate!

It will take more than raising premiums and putting more limits on the businesses that can qualify for cybersecurity insurance to prevent increased claims and higher costs.

AI can let insurers spot fraudsters faster and more efficiently, while separating otherwise-well-meaning offenders from the the serious thieves.

Insurance must get beyond the hype of the "I" in AI and become more pragmatic in its use of AI/ML technologies for generating business insights.

The average underwriter spends 40% of their time on administrative tasks, 30% on negotiation and sales support and only 30% on actual underwriting.

As the second-largest railroad company in the U.S., they took the bold leadership move to take the pledge to make suicide prevention a health and safety priority.

In numerous cases, such as the tsunami in Sri Lanka, even a bit of warning could have saved lives and protected assets. Texting should be a key tool. 

High-res data sees more than a shipment of glass: It sees a load of Gorilla Glass on clear summer roads or of crystal chandeliers on a pockmarked highway in a winter storm. 

Integrating a new feature, for example to provide dynamic quoting and pricing, usually takes months. Hyperautomation, such as low-code, provides robust solutions faster.

How can insurers make themselves more valuable to SMBs that need them more than ever in a rapidly changing risk environment?

During the COVID pandemic, especially in the first half of 2020, the pattern of healthcare use across the country changed dramatically.

78% of digital transformation efforts fail to drive desired results due to poor planning. Here are some steps that will ensure success.

Inflation, tight labor markets and economic volatility create a perfect storm for chief claims officers. The solution is advanced analytics.

Looking at the root causes of the spate of fires -- and the root causes of the root causes -- suggests a lapse in discipline in enterprise risk management. 

I hope the next wave of insurtech players will have more robust insurance fundamentals and will not pretend that insurance ignorance is a competitive advantage.

One option is to focus on being nimble -- too many large carriers still must wade through layers of organizational complexity to get anything done.

Even though agents are thriving, direct distribution will significantly increase, insurtech will play a big role in reshaping distribution and big tech companies will enter the space.

Automation and other digital technology, often unseen by the consumer, continue to improve operations for insurers with the vision to embrace them.

Digital Adoption Platforms can help new employees get up to speed quickly and can upskill existing workers to fill gaps caused by turnover. 

As digitization, mobility and connected vehicle technologies transform auto insurance, a better FNOL solution is now critical – and it's here.

While the cyber market improved significantly in 2021, increases to prior-year reserves may cause a drag on earnings, and the Russian invasion of Ukraine creates uncertainty. 

Billing is important enough to the business that it requires a future-focused strategy. Billing innovation and transformation strategy pays for itself.

Many incumbents are doubting their insurtech efforts, but the recent drop in stock-market valuations is not about insurtech, it is about tech.

Despite improvements in risk management and prevention, fire/explosion (excluding wildfires) is the largest single cause of corporate insurance losses (21% of total losses).

Small and medium-sized businesses must improve their risk management protocols while putting in place a cyber insurance safety net. 

Fraudsters know "knowledge-based authenticators" 92% of the time, while genuine customers only pass KBAs 46% of the time.

With insurance carriers at a pivot point because of the pandemic, here are three ways to attack fraud without messing up the customer experience.

Insurers and body shops need to start thinking differently about claims and repair processes, and how they can be revolutionized through AI and VI – Visual Intelligence. 

It is important for parents and caregivers to restore a sense of safety to their children even when the world does not feel safe.

Many insurance companies have begun to reevaluate their equity investments. Is it time for them to follow John D. Rockefeller’s example and focus on dividend-paying equities?

Insurers can use AI and machine learning to offer to anticipate customers' needs as they progress through life events and their risk category changes.

Auto insurers should expect higher claims costs in the second half and longer wait times for damaged vehicles to be repaired and returned to their owners.

Here are three tips on how to get past a one-size-fits-all approach and take a personalized approach to customer needs and desires. 

A new wave of attacks is being driven by politically motived cyber mercenaries seeking revenge -- and may presage a full-fledged cyber war.

New business opportunities are difficult to come by. So why don't producers properly prepare and practice for those oh-so-valuable prospect meetings?

A recent SMA study shows that 41% of personal lines insurers are revisiting their digital transformation strategies in 2022, a significant jump from 19% in 2021.

When jobs are in high demand for both employers and prospective employees, it creates a hyper-competitive job market that requires a strategic approach.

Insurers and accountants have similar concerns on behalf of clients, so the more agents and CPAs collaborate, the better. 

Discomfort with the certainty of death leaves life insurers questioning where they can meet customers. The answer lies where almost all other industries have ventured – online.

Smart certificates of insurance eliminate risk, ensure compliance and reduce costs for every stakeholder in the process.

Social unrest won't abate any time soon, given the after-shocks of COVID, the looming cost-of-living crisis and the ideological rifts that divide societies around the world.

Advancements in technology today provide the tools and resources necessary for the step change in reserving capabilities that were not previously possible.

You have to be sure you are helping your customers obtain what they want to buy. And I'm going to tell you: Insurance ain't it. 

Changes in customer behavior are creating a series of “from – to” shifts that have huge implications for billing and payments and require a quick response.

Insurers must prepare for disruptions in the availability of cash, the functionality of global supply chains, global GDP growth and various other factors.

Agencies are highly motivated to use technology to track data on existing clients, to retain them. We need this same commitment in the pre-sale process for new clients.

This might be the time to start exploring how the metaverse might find its way into insurance policies in the near future.

In painting a rosy and likely unrealistic picture of what AI can and can't do, Musk has, in our view, misled the public about how far we still have to go.

It's possible to unlock billions in retirement funding for seniors by using AI to streamline an outdated, gated process. 

Individuals are reevaluating what’s important to them, what they want for their careers and the pandemic's significant impact and financial burden on their families.

More open sources of data and common standards for models will enhance our understanding of the potential implications of climate transition decisions.

Creating ready-to-go materials for severe weather events that can be used when a disaster arises will streamline processes.

While APIs have become commonplace, we are running into the danger of creating too many point-to-point tethered connections and losing the value that we had found.

Analytics are finally catching up to the vision, letting everyday business users harness the power of data through easy-to-use tools and advanced automation.

Insurers have at their disposal incredible amounts of data, and powerful analytics can turn it into business intelligence better than traditional tools.

Insurers and their distribution partners must evolve and convert new customers where they already choose to spend their money, no matter where that is.

But there is an 'i' in 'WIN.' Let’s talk talent. Let’s talk football.

Will consumers view the insurance industry as a dynamic, solution-driven partner in their life or as a static, same-as-always industry?

Personalized packages that support all aspects of an employee's physical and mental health are essential and now feasible with modern digital technology.

Telematics is becoming a necessary capability for dealing with the future of insurance, especially in auto, and capabilities will only grow from here. 

Research finds that insurers in small commercial lines are further along in their digital transformation journeys than their peers in mid/large commercial lines.

Traditional discussions of react, repair and replace are changing to predict, prevent and protect. Part of this transition has been supported by the IoT.

Identity management involves reconciling what you know about an individual with real-time behavioral data, specifically actions that signal purchasing intent. 

Recent macroeconomic events involving supply chain slowdowns, flexible work arrangements and rising inflation have paved the way for a possible uptick in crime.

Property-casualty insurers should stress test their operations and consider ways to counter potential inflation impacts on both sides of their balance sheets.

Insurers have massive databases from simulation models and satellites when it comes to weather and climate. The problem is figuring out how to use them to their full potential.

Here are three lessons from the most recent renewal cycles that can guide cedents looking to get the best result from their reinsurance placements.

For insurers seeking to accelerate their analytical innovation cycles and move ideas “out of the lab,” data discovery tools such as External Data Platforms are vital.

A major survey of consumer attitudes toward insurers found them... indifferent. Indifferent is not negative. Indifferent can mean a chance for great opportunity.

As much progress as the industry has seen in recent years, we can't categorize UBI participation as mainstream when only 22% of people reported being in a program.

A well-managed, cloud-based API platform approach will remove many time-wasting, head-scratching moments.

Applications to establish businesses surged in 2021 in the insurance industry, driven by changes in behavior during the pandemic, and will likely stay strong. 

The last six hurricane seasons have been characterized by above-average activity, and this trend is expected to continue in the 2022 Atlantic hurricane season.

Quantum computing, in the wrong hands, could create a multitude of digital risks, including advanced cyberattacks -- a significant problem for the insurance industry.

Policyholder needs are evolving fast—and so are the opportunities to leverage an endless stream of innovations by forming an insurtech ecosystem.   

The best place to start is by securing a well-known defensive weak point: privileged access that has administrator-level powers.

With the heavy focus on premium costs, the market has overlooked the very real cost of foregone economic value caused by insurance collateral requirements. 

Most insurers are still spreadsheet-bound and, as a result, hard-pressed to make any progress outside of their spreadsheet environment.

In the face of aggressive action by plaintiffs attorneys, the insurance industry is steadily losing a battle it hasn’t really begun to even engage in.

We've been talking about the topic for many years now. Aren't we done yet? Can't we move on?  In fact, we are just about done -- almost all insurance operations have incorporated digital technology. So, yes, it's time to move on to the next stages of the industry's remake.

Why have reinsurers' facultative underwriters wait until an insurer has finished its process? Why not consult as experts across an ecosystem? 

The pandemic heightened the country’s collective understanding that experiencing a disabling event is not a long shot by any means.

While investment slowed in the early phases of the pandemic, it rebounded strongly in 2021: Levels during the first half equaled the total for all of 2020. 

There is no going back. Insurers must optimize operations for remote teams and supporting partners serving an increasingly diversified, and shifting, client base.

But Russia’s invasion of Ukraine; the move to decarbonization; crew and port congestion challenges and other issues mean there is no room for complacency,

Climate change is one of the most pressing issues in the insurance industry today, but forward-thinking insurers have found the way to combat it: AI. 

While process improvements and innovations result from these spinoffs, they do not come without a host of technology challenges and considerations. 

An increase in digitization, the rise of AI and better value-tracking methodologies have paved the way for more advanced technology like "intelligent decision-making."

Read Majesco's latest research to better understand the important changes in insurer's strategic priorities which are fueled by growing customer expectations and defined by three digital eras.

One insurtech has tried, but Hippo has burned through $628 million in cash and is spending more than $1.50 for every dollar of premium it is generating. 

With two-thirds of consumers reporting they base buying decisions on brand values, an increased focus on sustainability presents a huge opportunity for insurers. 

While talent challenges are nothing new to insurers, new research shows they are prioritizing talent strategies more than ever in the post-pandemic era.

If we think of the insurance company as a home, it has similar types of vulnerabilities -- but smart use of APIs can cover them. 

Here is what insurers should be aiming to achieve ahead of the UN climate summit in November to support both their own and broader net zero emissions pledges.

A key to diversity and inclusion is having strong support from senior leadership. Another is naming a single leader to be responsible for the success of all your efforts.

Technology and weather science have evolved to help warn of approaching events, giving advanced notice to people to alter course and relocate to safety.

Can insurers envision the opportunities clearly enough that they are motivated to switch gears and change something right now, and tomorrow, and the next day?

A survey of hundreds of business leaders found 15% saying that moving to the cloud will be their biggest technology expense this year. 

The assumption about technology is that progress comes fast: Because electrons move at the speed of light, changes driven by technology must, too. But that's often not the case. 

I am convinced that  "we're free" are the two most damaging words in a broker's vocabulary, yet we see and hear them all the time.

Here are three opportunities for our near future that will modernize, democratize and grow the industry for the next 100 years.

The pandemic elevated the need for companies to provide digital experiences to customers and employees, such as real-time payments and virtual claims submissions.

A Chubb survey found that 44% of U.S. homeowners experienced internal water damage in their home in the past two years, up from 27% in 2020.

Four lessons from Amazon's Web Services relevant to all of us driving innovation in the insurance enterprise.

The 2022 tornado season is upon us, and it’s expected to be even busier than last year. So, policyholders need help.

Workers’ compensation survey shows more payers are investing in electronic payment platforms and digital claims management tools.

The majority of workplace injuries are slips, trips or falls, but there are many unexpected injuries, such as getting hit by lightning or falling overboard.

Instead of simply selling consumers products, smart companies. including insurers, market themselves as companies to believe in and make part of one’s life.

With online-only companies becoming more popular and more desirable, they’re causing the entire industry to rethink how they’re going to stay relevant.

With all the complex challenges and opportunities facing the industry, there is real benefit to meeting face to face.

Organizations that focus on gender inclusion and prioritize the advancement of women report up to 61% higher revenue growth than other companies.

If the proper guardrails and governance are not put into place early, insurers could face legal, regulatory, reputational, operational and strategic consequences down the road.

People want to do work that is interesting and purposeful. They value an organizational culture that places a premium on creativity, thought leadership and innovation.

Just as the U.S. spends hundreds of billions on warships and planes, it should invest in an information warfare machine focused on continually preempting disinformation.

For brokerages that intend to participate in fast-emerging opportunities, the future is now. It’s time to carpe diem. 

Marie Carr, Amanda Davis, and Bhushan Sethi, along with moderator Paul Carroll, discuss creating a culture of innovation and how to attract new talent and motivate and upskill existing talent.

Few drivers are aware that texting while traveling at 55mph is the equivalent of driving the length of a football field with your eyes closed.

We often think about climate change in the long term. It's easy to forget that we already live with the consequences of unchecked climate change today.

When done correctly, technology is as transparent as it is critical. When implemented poorly, it's like begging your customers to look elsewhere for services.

The insurers that will pave the road to the future will be those that figure out to seamlessly serve customers by matching each product to the right distribution channel.

The customers want to drive. Are insurers prepared to thrive once we’ve handed them the keys?

The invasion poses a complex threat to the operations of financial services companies and has enormous consequences for the financial markets in the short term. 

Family offices face increasing threats to their assets, reputation and physical security, and the consequences can be severe if risk barriers are not built.

Emerging risks affecting the reinsurance business present opportunities for analytics and predictive modeling.

A story about monks and nuns doing electronic piecework suggests just how far the gig economy can stretch, if we think about the issues creatively enough. 

At this point, we believe that the hard U.S. E&S market will not end any time soon; however, some companies will struggle with prior year reserving issues.

Existing strategies addressing medical debt, such as stopping lawsuits or removing it from credit reports, are important but do little to actually prevent debt.

As employees start to return to work after two years of mostly working remotely, smart employers are rethinking just about all aspects of how work is done to get the best of both the home and office worlds.

Technology can tip the scales back in favor of a healthy workforce, driving growth and innovation as well as preserving institutional knowledge.

Insurers can create a better narrative for investors if they, like Musk, play offense, not just defense, on moving toward net-zero emissions of greenhouse gases. 

Having multiple reviewers with varied socioeconomic, ethical and individual backgrounds can lower the risks of biases being placed into AI programs.

Emerging threats are precursors to business crises, so all organizations should have an updated risk management plan to implement when these risks become a reality.

There is a huge range of opportunities that are still untapped, just waiting for creative, research-driven, passionate agents to capitalize on.

Too few are measuring the most important numbers of your business, so you're not in a position to make the proper adjustment as you work to grow.

The litmus test for talking about suicide is to substitute the word "cancer" for the word "suicide" to see if the sentence still makes sense or if it has a negative connotation.

Many P&C carriers say they will become more data-driven, and many of them have tried -- but the results can be much better.

Putting the right product in the right place at the right time through embedded insurance has more potential than any other insurance innovation in recent memory.

Email is based on an antiquated physical model (the inbox and outbox), and better ways of communicating -- even collaborating -- with customers are emerging.   

This year and beyond, agencies will fiercely focus on channel expansion and assess their current partnerships. Insurers must stay abreast of new partnership opportunities.

The pandemic has provided the sort of compelling event that is needed to propel employee benefits insurers to a digital transformation. 

Social media data provides insurers with an opportunity to gain insights into a customer's risk exposure in real time. But it comes with many challenges.

In our fervor to embrace new insurtech companies, we may have missed the opportunity to learn from those incumbents that have seen the ups and downs.

Maintaining compliance requires manual, repetitive and error-prone processes, handled by small armies of well-compensated experts -- but many can be automated. 

The ecosystem model empowers technology departments by getting them closer to the end customers, positioning them as supporters of business strategy.

The acceptance and delivery of payments must be in real time, and capabilities must let customers create tailored digital payment experiences that fit their needs best.

Insurance claims software lets agencies reduce fraud, shorten the claims lifecycle, optimize costs, improve efficiency and a lot more.

ITL's latest On-Demand Webinar featuring Marie Carr, partner at PwC; Andrew Robinson, CEO at Skyward Specialty Insurance Group; and Andy Cohen, COO at Snapsheet; along with moderator Paul Carroll, editor-in-chief at Insurance Thought Leadership.

Many fall into the industry, find success, go out on their own, hire a couple of "accidental" team members and wake up one day with an accidental business.

Only if it's used right. Root is having problems, but Discovery Insure shows how telematics can make a profound difference. 

Carriers can begin by simply challenging their outside counsel to deliver more value and then discussing how to get there together.

The roots of intelligent automation remain firmly established in the information technology industry, yet its influence has branched to serve a wide range of businesses.

Embracing a digital approach reduces roadblocks to deliver exponential benefits for policyholders and your claims organization.

Clients, brokers, insurers and investors have woken up to the possibilities of simpler, faster catastrophe insurance, and they are already experiencing the benefits.

Efforts will include using technology to improve the ease of doing business for agents and implementing tools and applications to increase employee productivity. 

Here’s a four-step plan to initiate a systematic process to uncover, screen and scale the best ideas using an innovation portfolio approach.

Studies show that the quantity and quality of sleep have declined steadily, and sleep loss can make it more challenging to maintain focus and vigilance.

84% of executives agreed that innovation is critical to their growth strategy, but only 6% are satisfied with innovation performance.

Application forms that encourage fast thinking can lead to misdisclosure through careless mistakes, approximate answers and intuitive biases. Slowing the buyer down may help. 

Consumer trends may cause you to rethink how your organization fits within other ecosystems that customers want and are willing to buy insurance from.

How Amazon’s approach to selling the former can help you move more of the latter.

We need to start a discussion about underinsurance, especially after natural disasters, to determine if changes need to be made to better estimate replacement costs.

Given the need for flexible and agile insurance product lines, the future of insurance lies in the adoption of SaaS systems.

Insurers have always been data-savvy, but they will have to move faster than ever to keep pace with competitors and other industries.

Despite optimism at the outset of Q4 2021, property and auto insurance shopping trended below 2020 levels by year’s end, TransUnion finds. 

Independent agents, in particular, have the human touch, industry knowledge and carrier access needed to build and retain customer relationships.

Seemingly impersonal digital transactions underscore the criticality of personalization. The key is to pinpoint the exact moment of need in the insurance buying and filing experience.

Leaders can take bold and visible positions declaring suicide prevention and mental health promotion critical community concerns.

Insurers have an opportunity to shape the discussion on algorithmic fairness by demonstrating awareness of potential societal implications.

While some may consider today's challenges translating to the worst of the times, this is the best of times for innovative-minded P&C companies.

In the face of all the grim predictions, remember that myriad tools can protect businesses against and mitigate the impact of cyber-related events.

Personal lines insurers will continue to advance their digital transformation strategies in 2022, albeit with a new lens and several shifts in priorities.

The forward-thinking approach in the P&C market is to provide the required property data as a service (PDaaS) to carriers.

Barring another “black swan” event like the pandemic, the automotive ecosystem of 2030-2035 will be virtually unrecognizable from today.

The cyber risk landscape has always been in motion, but the rate of change has accelerated during the pandemic and will likely remain volatile.

In dynamic conditions like today's, strengthening existing relationships, elongating the customer lifecycle and focusing on the right prospects are all-important.

Even if legacy systems are occasionally updated, a completely new way of looking at the system as a whole is needed. This is where DevSecOps comes in.

The gender gap is societally based, and change needs to happen at a core level. Not just with how men see women in the industry, but with how women see themselves.

Russian hackers may retaliate against companies and countries that have aided Ukraine -- and the rest of us may get caught up in the wash. 

These risks are moving the insurance market away from transactional coverage and more toward co-management of risk. 

Group and voluntary insurers have a whole new challenge: How to create products that fit each unique life and then offer them where life happens — at work.

Insurers are already familiar with adverse selection. Now, they are getting to grips with the new concept of inverse selection that arises with big data.

The following are important ways to reduce corporate risk and support employees in both remote and on-site environments. 

Insurance performance through inflation cycles. 

Commercial insurers will continue to advance with their transformation strategies in 2022. However, their focus will look a little different than it did a year ago.

Work automation is not about technology. It’s about process. A process that is best led by the line of business or function head and not corporate IT.

New political risk insurance losses in Ukraine due to Russia's invasion will likely be material but well within the ability of private carriers to perform on their obligations.

AI-powered optical character recognition lets insurers unlock vast troves of data and streamline all processes.

The two most immediately relevant are "the end of passwords" (yay!) and the growing availability of "synthetic" data to train AI in situations where there isn't enough real data available.

Properly applied, AI produces better medical outcomes, gets employees back to work faster, reduces litigation risk and lowers the costs associated with claims.

For each dollar of premium, claims cost Lemonade 90 cents, marketing cost it 60 cents and other costs added 40 cents. Feel a little betrayed?

If an organization does not have a well-thought-out incident response plan with trusted and tested backups in place, a cyber attack can be devastating.

CRM software does not solely benefit relationships with customers. It also helps in communication and collaboration among various departments.

Thousands of lines of insurance haven't been innovated in 30 years. With so much opportunity, it's time to think about insurtech as a permanent fixture in the larger ecosystem

While the assumption has been that higher repair costs for advanced driver assistance systems features offset ADAS loss-cost benefits, a new study finds significant benefits.

2022 will look a lot like the second half of 2021, but opportunities are emerging for auto insurers to differentiate themselves, especially through telematics. 

Apple, Google and Amazon just announced a new standard for communication for devices that could finally unleash the smart home's potential. 

Employers need to build a better bridge between workers' comp and LTD to better manage the common ground between them – the employee’s health.

Large and small carriers, in most cases, have inherently different business processes, capabilities and priorities due to their variance in size.

Customers now expect exceptional service from all businesses, and low-code platforms hold great promise for businesses’ internal and external users alike.

With time, the true cost of maintaining a legacy system and its entire ecosystem tilt in favor of an upgrade. The trick is to know when that time has arrived.

Capacity-seekers and capacity-providers are starting to recognize the benefits of an organized digital marketplace with an efficient electronic infrastructure.

Field service management software can digitize steps of the warranty workflow to improve customer satisfaction and provide quality and convenience.

With the power of predictive modeling and its resulting efficiencies, life insurers can simplify underwriting, reducing both time and complexity.

Home-based businesses exemplify the sort of opportunity that is arising as we start to come out of the latest wave of this awful pandemic and head toward a new normal. 

IFRS 17 might be a major factor in insurers’ decisions on buying reinsurance, so it's important to understand key issues and start preparing. 

Insurtechs and carriers both need to take the time and make the effort to understand one another’s needs, capabilities, constraints and strategic objectives.

Used cars are suddenly worth more instead of less. So, for claims in progress, there's a significantly higher payout for fixing and replacing cars.

The process for gathering enough data so machine learning can detect species in images is the same process for detecting fraud in the vehicle industry.

While there aren’t yet a slew of policies stepping into the breach to cover NFTs, a new class of policies will manage risk for this emerging market. 

Next-gen core platforms are going to rewrite group and voluntary benefits insurance because technology has advanced to the point where it can fill the gaps. 

Policy Advice reports that 68% of young insurance agents think insurers' digital transformation is too slow, and 88% of consumers demand more personalized products.

Many firms have pursued digital transformation yet found little relief. The reason is that most legal software vendors don’t understand how insurance defense firms work.

Daisy AI solutions recommend step-by-step implementation of Halo Effects into your fraud detection, claims management and underwriting processes, including useful examples that can be put into practice

Paul Carroll sits down with Jim Duggan, vice president, client engagement, global service delivery, at Rimini Street, and Anne Plese, Rimini Street's senior director of product marketing. They discuss how to optimize IT costs. 

On the journey to net zero, (re)insurers have an opportunity to lead on key issues and strengthen their position in the marketplace,

The presence of a host of insurance management systems in the market does not make it easy to pick the one that is right for your agency.

Ron Rock discusses how the insurance industry is rapidly evolving, and the importance of recruiting and retaining top software and programming talent. 

While grief is common and normal, there is no “normal” amount of time to experience it.

The level of change has never been greater, and insurance’s opportunities have never been more numerous.

As we formulate a path toward regulating AI innovation appropriately, we can look to the work regulators accomplished regarding cybersecurity.

Entrepreneurs are so active, whether on their own or within marketplaces such as Uber and Airbnb, that there is a whole new category of risk. 

Don't look now, but some of the big insurtech names -- Lemonade, Hippo, Oscar, Root and Metromile -- are having a rough go of it. 

Carriers have started to unlock the power of conversational data, mostly through chatbots, but often fail to follow three key principles during the transition. 

Far too little time and resources are spent understanding a customer’s buying journey or their communications preferences. This represents a massive opportunity.

Parametric insurance is often bought as a complement to indemnity insurance, but newly announced hybrid, parametric/indemnity products will launch in 2022.

Google, Amazon, Walmart… tech powerhouses are moving into the insurance industry, for better or for worse.

The insurance industry faced a wake-up call when the pandemic exposed just how unprepared insurers’ digital capabilities were in a crisis.

Here are the insurance technology trends, such as automated underwriting and virtual assistants, that will shape our industry in 2022.

Insurers need to embolden change agents and embed courage into their culture so it permeates every level of the organization from top to bottom.

Read this report to better understand the recent changes in customer behaviors and expectations and how new capabilities and technology can make emerging opportunities become a reality.

Comprehensive perinatal education helps employers address at least five related opportunities.

Carriers that continue to work from vague three- to five-year timelines will lose market share and perhaps wind up as someone else’s acquisition.

Cyber perils worry companies even more than business and supply chain disruption, natural disasters or the Covid-19 pandemic.

The Genomics Revolution in Life and Health. Plus, top 5 P&C insurance trends in 2022; keeping the human element in AI; the evolution of leadership intelligence; and more.

What if life insurers could help all policyholders with cancer live at least two years longer than they would have otherwise?

High-impact issues relating to workers’ comp, healthcare and risk management need more attention.

The trends stem from a changed work landscape, expanded use of ADAS, climate change, new customer expectations and complexity.

Meeting the high demand for effective leadership requires a special type of intelligence, one that has evolved far beyond traditional IQ.

Most transformation programs include a focus on efficiency or process improvement. All of this progress proves incremental, at best.

A conversation with Greig Woodring on how life insurers can use genomics to help clients make remarkable strides, especially against cancer.

Only 22% of SME owners and founders have read and understood all their policies. 29% let their insurance auto-renew without changes.

We all have a responsibility to see that AI is done well, that it has a humanizing influence, not a dehumanizing one.

How Important Is the Human Touch Really? Plus, consumers wary of AI-driven insurance; commercial insurers shift tech priorities; 3 key themes for check-ins with clients and more.

"By having a simple yes/no metric, such as a temperature that rises above a certain level or drops below a specified level for an agreed-upon amount of time, parametric insurance removes the need to have an adjuster go into the field..."

As part of this month’s ITL Focus on parametric insurance, we spoke with Henry Gale, parametric insurance research lead at Instech London, on the prospects for this increasingly popular approach to insurance.

There's a division of opinion. Is the human touch overrated: Do customers want to serve themselves online? Or are they demanding human attention when they buy policies and file claims?

83% of consumers wouldn’t feel comfortable if their home, auto, or renters insurance claim was reviewed exclusively by artificial intelligence.

According to Gartner Predicts, today’s customers manage 85% of the relationship with an enterprise without interacting with a human.

Insurers currently favor digital capabilities that replace face-to-face interactions – continuing a trend that emerged early in the pandemic.

Keeping hotel guests and restaurant and bar patrons safe is just one part of how the hospitality industry can move toward full recovery.

In this webinar, ITL Editor-in-Chief Paul Carroll sits down with Jim McKenney, chief strategy officer and products business head at Intellect SEEC, and Sandeep Tandon, CTO of Intellect SEEC.

There will soon be a three-digit hotline for mental health emergencies -- 988 -- that will greatly simplify and improve assistance.

13 “transformational” technologies, working with foundational technologies, are moving the industry into the new digital-connected era.

The Future of Work. Plus, 2022 resolutions to foster innovation; building a digital field of dreams; 3 keys to enhancing the customer experience; and more.

A national survey finds business owners want easy claims processes, need help with risk management and value guidance from agents.

... while improving care for employees. The secret? The city sent them to the best doctors.