Six Things Newsletter | September 29, 2020

In this week's Six Things, Covid and 'the Great Reset.' Plus, where blockchain shines right now; reflections on insurtech, pandemic; commercial claims journey with AI; and more.

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COVID and ‘the Great Reset’

Paul Carroll, Editor-in-Chief of ITL

Although the insurance industry seems to have aggressively and (mostly) successfully shifted toward digital interactions during the pandemic, an even trickier transition lies just ahead as part of what is being called “the Great Reset.”

That transition to a post-pandemic world requires insurers to not just understand the internal workings at their companies, or even the new preferences of that fickle beast known as the customer; it means figuring out what the world of work and home life will look like after the universe resets, so insurers can revise products and revisit sales and marketing tactics. Maybe, for instance, some insurers will want to deemphasize small businesses, in general, as long as so many may go out of business and migrate toward “ghost kitchens” (which only offer takeout or delivery).

To try to help as we all sort through the complexity, I’ve pulled together the smartest thinking I can find on what comes after “the Great Reset.” (Warning: McKinsey provides some serious pessimism at the end of what follows.)... continue reading >

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SIX THINGS

 

Where Blockchain Shines Right Now
by Ivan Kot

The seafood supply chain, for instance, can become transparent and trustworthy, while blockchain automates location updates.

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Reflections on Insurtech, Pandemic
by Mark Breading

Will the dramatic change to work and life patterns unleash innovative startups and new rounds of funding?

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Is Intuition Dead? Probably Not, but…
by John Sviokla

With the pandemic throwing historic data out the window, more algorithms and AI are being used in what might be called bionic decision-making.

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Commercial Claim’s Journey With AI
by Ji Li

AI is still very new to insurance, and claims teams are only scratching the surface on how it can be applied for the betterment of all constituents.

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Life Insurance’s New Occupation
by Denise Garth

Insurers must rethink their scope, away from a policy transaction and to a broader lifestyle experience across health, wealth and wellness.

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Adios to ‘3 Lines of Defense’ Risk Model
by Horst Simon

The only way forward is building an effective risk culture and teaching everyone in the company radical risk management skills.

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Insurance Thought Leadership

Insurance Thought Leadership (ITL) delivers engaging, informative content from our global network of thought leaders and decision makers. Our content contributors are transforming the insurance and risk management marketplace through knowledge sharing, big ideas, innovative technology, and real-life applications.

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ITL covers the meaningful news, trends, and opportunities shaping the insurance industry. We explore a wide variety of topics, working with industry-leading experts to create unique, relevant content that informs our network of business leaders and the industries most affected by risk and insurance. 

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