[ad_1] With all the connectivity that cloud enables, and complex dynamics at play in determining who has the responsibility to process and protect PII, insurers need to work with their ecosystem partners to protect the data of their customers and employees. In this Insurance News Analysis, we were delighted to welcome Aaron Davidson, Global Head … Read more
[ad_1] The recent 2022 Qorus-Accenture Innovation in Insurance Awards are a powerful, practical illustration of the trends shaping the insurance industry. Sustainability and workforce transformation are becoming central to insurers for retaining relevance in a changing market. Insurers need to embed sustainability into their strategy and value proposition, and they have to embrace workforce transformation … Read more
[ad_1] An insurance claim comes at a stressful time in a customer’s life, often making it a negative experience. At least, that’s what you might assume. That’s why I was surprised when our latest research report, Why AI in Insurance Claims and Underwriting,  Speed of settlement drives claims satisfaction in insurance Overall, our survey found … Read more
[ad_1] Insurance underwriting is fundamentally a data-driven practice. With an increasingly interconnected world producing far more data than an individual human can process, computers and AI have come in to support data analysis and decision-making. Quantum computing has the potential to change the way the insurance industry uses data in underwriting, and beyond. While we’re … Read more
[ad_1] How do insurance companies build strategically resilient business models in an unpredictable future? To start, the future isn’t entirely unpredictable. The impacts from many of the most talked about disruptors, including telematics, climate change, automation, AI-driven service models and many more, are proliferating through the insurance industry. Now the questions are: How rapidly will … Read more
[ad_1] The recent Qorus Accenture Innovation in Insurance Awards highlighted the world’s leading insurance changemakers. The winners of each category stood up against tough competition with initiatives that were not only innovative, but effective and with measurable impact. In this blog series, I will be delving a bit deeper into each category, illustrating how each … Read more
[ad_1] As changes in risk and macroeconomics—especially inflation—continue to influence insurance industry dynamics, regulators remain engaged to help insurers and customers adjust accordingly. But not all interventions are achieving their intended outcomes. In this month’s Insurance News Analysis, Joanne Laffan and I discuss the unintended consequences of the UK Financial Conduct Authority rules intended to … Read more
[ad_1] In 2008, Accenture published the results of the first P&C Underwriting Survey in partnership with The Institutes. As the longest-running longitudinal underwriting survey in the insurance industry, this report reveals a holistic picture of where underwriting has been—and where we’re going. Namely, it shows us the relationship between the goals leaders set over the … Read more
[ad_1] As we move into a new phase of innovation after the disruption caused by the COVID-19 pandemic, insurers need to look ahead to determine what their technology priorities should be today. Our 2022 Technology Vision report focuses on the expansion of the digital world and the increasing overlap between physical and virtual reality. One … Read more
[ad_1] Despite continuing market volatility and uncertainty, we are fundamentally optimistic about the future of the insurance industry, which has demonstrated resilience through the pandemic and in the face of inflation, losses, and reserve capital requirement headwinds. As COVID-19 became a global pandemic in March 2020, the resulting economic slowdown caused insurance industry valuations to … Read more