Ron Rock, senior director, insurance/insurtech, JobsOhio, and Andrew Daniels, founder and managing director, InsurTech Ohio, talk about what comes next for the insurtech market.

Over this five-part series, hear from insurance industry leaders about the cascading challenges wrought by the pandemic and other social and environmental issues -- and enormous opportunities to rethink the old ways of doing business and plan a better path forward.

A new survey from OneShield looks at some of the challenges the industry faces, and why the solutions may not be as out of reach as they seem.

We talk with Bryan Davis, a HUB International executive and head of its digital platform, VIU by HUB, about its new hybrid business model that includes digital and its broader implications for brokers.

EVs bring to light some potentially interesting implications on auto insurance. They could represent a prime use case for a new type of embedded usage-based insurance policy.

Insurtech 2.0 recognizes the innovators who came before but takes a more nuanced and collaborative approach, recognizing the structural issues inherent in insurance.

Electric vehicles are more difficult and costly to repair or replace compared with gasoline vehicles, but the issues will fade over time. 

96% of insurer executives see personal lines underwriting undergoing significant changes within five years – remarkable given the shifts that have already occurred.

The legacy of Insurtech 1.0 may be more enduring than the actual companies. They forced incumbents to recognize their intransigence, producing a new focus on customer experience.

A Conversation with Thierry Léger

Auto insurers have a strategic imperative to not be left behind in the race to monetize connected car data, and there are several ways insurers can do this.

Rising costs, general anxiety about the economy and a surge in relocation that began during the pandemic are driving insurance shoppers to seek more options.

While medical inflation in workers' comp has remained moderate for the past decade, the recent spike in consumer prices has elevated concerns.

Because infrastructure often has a long lifetime, it's crucial to understand physical climate risks and embed resilience from the outset. 

Wearable devices paired with artificial intelligence can significantly reduce workers' comp costs for businesses and the insurance providers that protect them. 

More than six in 10 people don’t think that any discount is worth letting insurance companies collect more information about their driving habits and homes.

Insurers need to prepare themselves and their technologies to bundle, expand, embed, partner, customize and flex to meet future market demands.

Based on two decades as a consultant, executive and entrepreneur, I see three patterns that get in the way: Spinning Plates Syndrome, the Department of No and Zombie Resurrection.

When organizations do not complete a detailed cyber evaluation of target companies before a merger or acquisition, they risk significant financial and legal challenges.

By bolstering confidence in the integrity of carbon offset transactions, insurers can ultimately enable greater capital flows to areas where investment is most critical.

Digital games activate our brains’ reward pathways. Agents can use them to help customers learn about insurance and make each lesson stick.

Major advances have the potential to improve health outcomes dramatically, while eliminating a hugely wasteful percentage of current drug spending.

A Conversation with Ken Mungan

Having an accurate address autocomplete option can help streamline your straight-through processing and minimize the need for manual intervention.

Here are the key issues that Conning believes will affect the insurance industry resulting from the election out-comes.

There are countless examples of high-impact breaches affecting companies that are entirely cyber-compliant.

A robust ecosystem of risk-reduction mechanisms can result in far better health outcomes while conservatively reducing total health spending by 25% or more.

AI can help insurance providers automate job scheduling and keep numerous requests organized so that downtime and unnecessary travel are eliminated.

A Conversation with Olav Cuiper

A Conversation with Mick Moloney.

Future leaders will master the skill of harnessing data-driven insights to focus on prevention first, instead of indemnification.

65% of insurance technologists cited cyber-attacks/threats as even a greater concern than inflation (45%) and retaining and hiring talent (40%)

What does it take to be a successful leader? How can you lead change effectively? Here are 10 tips that can help you lead change in the insurance industry.

While ransomware still dominates among cyber threats, business email compromise incidents are on the rise, and geopolitical hostilities could spill over into cyberspace. 

While several high-profile insurtechs have had a rough year in public market valuations, there are still many bright spots for startups in this marketplace.

Fraud accounted for $6 billion in losses to insurers and government agencies after Hurricane Katrina, but AI-based verification has come a long way since 2005.

As data and technology pervade the car manufacturing industry, automakers have made fresh inroads into insurance.

Small businesses often seek providers offering them the most affordable policy quickly and efficiently. Any delay, and they will likely go to a competitor. 

Many companies aim to be data-driven, shifting decisions away from human actors and trusting the algorithms. Instead, firms should be "data-informed." 

Insurers need to find a way to speed up claims — and fortunately, advanced computer vision can provide insurers with the means to do just that.

Here are six cybersecurity and incident response trends and priorities that can help organizations in 2023.

The perfect match: the speed of low-code application development, with the scalability and power of the leading AI/ML engines and large data sets.

It would be impossible for insurers with thousands or tens of thousands of customers to fully understand each of them individually.

Faced with new challenges, including changing customer expectations and increased competition, MGAs know relationships are no longer enough to stand out.

Solutions can address brokers’ administrative risks from within, in a way that focuses on the customer/risk manager experience and leads to vastly improved alignment.

Most property risk models rely heavily on ZIP code. Yet, technology and data exist today to evaluate more than 1,000 risk data points for every single property in the U.S.

"The Robinsons." who bundle home and car insurance, represent the crown jewel in customer lifetime value. But the segment is very much at risk.

Data has shown that, compared with individual decision makers, diverse teams make better decisions 87% of the time.

No one is happy with the current, cumbersome approach to auto claims -- and a key technology has finally arrived that will digitize and speed the whole process. 

How one carrier (the Hartford) rolled out MFA to its agents. What was measured, what was learned and how this shapes the future of the industry’s data security.

Central to the conversation of how best to support the mental health of BIPOC and AAPI communities is to realize one size does not fit all.

The imprecision on cyber vulnerabilities and how to price insurance are unnecessary. Data is readily available -- if you look in the right places. 

Wineries are one part farm, one part manufacturer, one part entertainment complex and one part hospitality provider/retailer. Risks abound. 

The "Franken-storm" offers lessons for how to better protect businesses, homes and people as winds and storm surge become ever more dangerous. 

As companies struggle to attract and retain people, there are ways to make life insurance more effective for—and attractive to—your employees. 

In this webinar, we explore a different way of looking at how to improve underwriting; focusing on the needs of the underwriter, not just on the process.

Open the black box and combine analytics with underwriter expertise to evaluate the computer’s conclusions and where the information comes from.

Technology for assessing auto physical damage (APD) can enhance the casualty claims process and lead to better decisions, faster. 

As InsureTech Connect showed, the embedded topic is cool among investors, and every funder is adding it to the pitch deck.

Even with the macro-economic headwinds and other market challenges, every aspect of insurance is being redefined in the context of the future.

Though blockchain has vast potential due to security and trust, some of its benefits, such as decentralization and distributed processing, can turn into limitations.

Wellness-as-a-service models can produce great outcomes by closely integrating physical and financial wellness programs. 

Insurers need to improve their communication by prioritizing customer experience as opposed to heavily relying on automation to do the job for them.

The trends enrich the digital experience of customers, reduce operating costs, improve service and take capacities to a new level.

Instead of experiencing a blizzard of statements and notices, employees get a single, simple statement summarizing all their care, regardless of where they received it. 

Shifting distribution tactics, focusing on more personalized coverage, designing new products and partnering across industry lines can all narrow the gap. 

Discrimination and historical trauma have shaped the mental health of our BIPOC and AAPI communities and the treatment they receive. How can we do better?

At the core of group and voluntary benefits is one question that affects all others. Who is the customer — the employer or the employee?

Complementing a customer relationship management system with AI/ML-based solutions can harness the power of data within an organization.

Based on technological advances, a hybrid approach lets the injured worker get in-person care while doing carefully monitored, supplementary activities at home.

By removing data silos and creating a unified, contextual understanding, each department will gain a more complete picture of how best to improve overall performance.

Making conversational artificial intelligence a first line in customer interaction saves time and frees human agents to focus on more involved tasks.

As the North Atlantic hurricane season typically has a secondary peak around mid-October, businesses need to remain vigilant about protecting their premises and people.

When we step outside the confines of either/or thinking and embrace a "both/and" mindset, we can achieve great things in our work and home lives and in our businesses.

With the 21st-century shopping experience becoming a "buy now with one click" affair, consumers expect this across the board, no matter the industry.

Insurers need partnerships with fully integrated national providers with deep expertise in medical, record and investigation management, bolstered by new technologies. 

A great many companies don't realize they rely on critical web-service suppliers, but when the technology goes down, business may grind to a halt.

Demand for commercial insurance is on the rise, but profitability remains elusive. Algorithmic data is the key to greater, granular insight into risks and prices.

When it comes to insurance, customers trust people more than tech. Customers want a credible human partner throughout the buying process.

One in four Americans is caring for a loved one with a debilitating illness or other special needs. COVID-19 amplified the problem, and it will continue to grow. 

California warns that it is watching and that "bias and discrimination in any form will be investigated and will not be tolerated."

Loss control teams at insurance brokers and carriers desperately need new ways to de-risk day-to-day operations of high-value shippers that have had troubling losses.

By improving weather modeling and assessing past catastrophes, insurers can use predictive analytics to provide better support to customers during difficult times. 

Understanding your dark data can reveal insights into customers and employees, the quality of your assets and manufacturing and the risks your brand faces on social media.

Flooding has a clear environmental, social and governance impact, and it’s beneficial to view it through an ESG lens.

Solutions that help explain the process and catch and correct errors before they happen increase productivity and improve the applications' success rate.

Advancements in machine learning are changing the landscape of the life insurance industry, making life settlements more accessible to policyholders.

Perhaps no technology imagined by Star Trek has enticed more international interest than the medical tricorder.

We now have the ability to look at data differently, leveraging innovations to identify risk, extrapolate insights and see the bigger picture big data offers.

Not a fad diet or magic pill, automation is a lifestyle change. Let’s talk change management.  

Given the difficulties involved with suppressing battery fires, particularly at sea, loss prevention measures are crucial, whether batteries are transported within EVs or as standalone cargo.

The most successful are focusing on one or two insurance segments but are offering solutions in specific areas across the P&C claims value chain.

From tuition insurance to life, health, auto or renter’s insurance, parents and their students should get ready for the risks a school year has in store. 

Many underwriting leaders, amid the industry’s growing focus on expenses, growth and analytics, have taken their eye off the ball of traditional underwriting quality.

Insurance companies pursue digital transformation and customer experience optimization but overlook some of the fundamentals. This is exemplified by payments.

"Why?" We never get to ask the person who died. We can only infer from notes left behind, snippets of last conversations and changes in behavior.

Insurers have collaborated on a detailed plan for small and midsized businesses, which find themselves in the sweet spot for ransomware attacks. 

In this webinar with ITL Editor-in-Chief Paul Carroll, Dr. Michel Leonard, head of the Insurance Information Institute's Economics and Analytics Department, lays out the Triple-I's latest thinking on the perplexing problem of inflation.

The anti-vaccination movement has resulted in 1 out of 10 American parents delaying or outright refusing necessary childhood vaccinations.

While many agencies decry a “race to the bottom” by states, a true analysis of workers' comp benefits over the past half-century requires a far broader context. 

Read the latest report from Majesco to understand the opportunities of creating a diversified distribution ecosystem that expands the footprint of offerings and reaches new markets.

The technology for liquid biopsies is developing rapidly, showing potential for multiple clinical applications, including new cancer screening tests.

Although the life insurance industry has been cautious by nature, data and technology are shifting the analysis of risk and enabling prudent underwriting without volatility.

Stressed employees are less engaged and have lower productivity - and some may even left their job. Here is how to promote a low-stress work environment.

We are still waiting for a clear sign that one of the big three -- Lemonade, Hippo and Root -- can survive in the middle term.

You are passing up maybe $1,000 in commissions per client if you aren't cross-selling instant-issue term life insurance policies that don't require a medical checkup.

The idea that financial transformation can help insurers better serve their customers even as they position their businesses for rough seas is no longer theoretical.

87% of insurers said in a survey that they expect big changes to occur in underwriting within the next five years. In 2020, only 69% said the same.

The most important contact center metrics are: satisfaction, customer experience, quality assurance and revenue growth -- but the most measured is “call handle time.” Hmmm.

New research shows how COVID has moved insurance from seeing change on the horizon to feeling the impact of customer change in the decision-making process.

Employee benefits carriers can differentiate themselves and shield themselves from disruption by harnessing predictive models to optimize pricing and radically improve profitability.

Cloud-based platforms will let auto insurers make a critical pivot away from purely reactive claims response and processing to claims minimization and avoidance.

Let's take a look at three options for how blockchain is transforming insurance and improving insurance services.

A cross-disciplinary study using digital health data may have serious implications for mortality from sleep apnea -- and for insurers seeking to underwrite these risks.

As competition heats up, a simple policy add-on that costs just a few dollars each year is a hidden tool in the agent’s toolbox: the roadside assistance policy rider.

Custom health plans allow employers to shop competitively the vendors inside of their health plan, like their pharmacy benefit manager, claims manager and reinsurer.

With B3i declaring bankruptcy, will blockchain/DLT (distributed ledger technologies) ever reach the point of disrupting the industry for the better?

While insurtechs are struggling, established brokerages have deep industry knowledge and solid businesses from which to build and evolve technology solutions. 

Insurers can lower operational costs, improve underwriting performance, offer appropriate insurance quotes and more effectively track the facts on the ground.

The industry in aggregate is retreating from climate risk, at a time when society needs it to run toward the most severe risks that threaten us. It's time for the industry to step up.

Off-the-shelf technology packages rarely produce exactly what an organization needs; with low-code, they can configure solutions to their unique needs.

An industry that is too important to fail suffered claims of almost $7 billion in 2021 and now looks to take the lead in reducing client risk.

During the last five years, 89 weather and climate disasters in the U.S. caused $788 billion in damage. In 2022, nine events have exceeded $1 billion in losses.

Today, most security systems are implemented on top of information systems and can leave gaps. An approach called Security by Design holds promise.

Newly available data will be ingested into weather models to improve forecasting for carriers, reinsurance companies and even insurance linked securities. 

Navigating a business' ups and downs can be as challenging as steering a ship through a storm on the high seas. I’ve done both—and lived to tell how it can be done.

Adding a layer of phone number and device intelligence can slash the risk of fraud, giving the organization and customers greater security while maintaining a positive experience.

Having a team that's adaptive is essential. Transformation needs to be top-down and bottoms-up. Everyone involved understands why we're going somewhere.

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.

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

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.

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.

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.

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.

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.