article thumbnail

Connected Insurance: Reality Or Hype?

Forrester IT

I speak often with clients about the role of technology in insurance. Of the many innovations we discuss, connected insurance may be the most polarizing. Connected insurance (CI) is nascent across most insurance lines.

Insurance 322
article thumbnail

Predictions 2021: Insurers Find Opportunity Amid Chaos

Forrester IT

As insurers contend with an unpredictable virus and its economic consequences, promising pathways to prosperity will reveal themselves. Age of the Customer Insurance prediction

Insurance 482
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

European Predictions 2023: Insurance

Forrester IT

Insurance firms in Europe will face considerable headwinds in the coming year. Age of the Customer insurance industry trends predictionsRead our predictions for how they will handle them.

Insurance 195
article thumbnail

Europe Predictions 2022: Insurance

Forrester IT

Find out what Forrester predicts for insurance companies in 2022 and beyond. Europe financial services Insurance insurance industry trends predictions

Insurance 195
article thumbnail

Data Science Fails: Building AI You Can Trust

The new DataRobot whitepaper, Data Science Fails: Building AI You Can Trust, outlines eight important lessons that organizations must understand to follow best data science practices and ensure that AI is being implemented successfully.

article thumbnail

Four Themes Will Shape The Future Of Insurance

Forrester IT

The future of insurance is here. Insurers can no longer wait on the sidelines. The game for who wins the hearts and wallets of tomorrow’s insurance customer. That’s my view and I am sticking to it. You must get in the game. What game you ask?

Insurance 544
article thumbnail

The Cyber Insurance Roller Coaster: As Demand Speeds Up, Some Insurers Disembark

Forrester IT

Age of the Customer Cybersecurity Cybersecurity Trends insurance industry trends MSSP Ransomware risk managementThe first half of 2021 has been anything but quiet for cyberinsurance!

Insurance 535
article thumbnail

What’s Hot In Insurance Tech In 2019?

Forrester IT

In 2019, the pressure on insurance business and technology leaders isn’t letting up. Earlier this year in Forrester’s “How Five Drivers Will Shape Insurance Business Technology Investments In 2019” report and webinar, we examined the drivers shown here that are shaping insurance business priorities. age of the customer digital business Insurance technology AI digital digital insurance digital strategy disruption insurance insurtech legacy systems

Insurance 361
article thumbnail

Cyber Insurance Can’t Do it Alone

IT Toolbox

Why is cyber insurance not enough to enable full recovery from cyber-attacks? The post Cyber Insurance Can’t Do it Alone appeared first on Spiceworks. Find out. Data Security

Insurance 209
article thumbnail

It’s Time To Transform Insurance Claims

Forrester IT

This makes good home insurance vital. Because I am an insurance geek and cover insurance at Forrester, insurance companies that get me as a customer are rather […]. age of the customer customer experience Insurance user experience promotedMy house is almost a hundred years old. And while it might have some lovely period features (often estate agent speak for dilapidation), it also requires constant care.

Insurance 363
article thumbnail

Insurtech Funding Roundup, Q3 2020: Digital Insurers Drive Another Strong Quarter Of Funding

Forrester IT

Age of the Customer digital business digital disruption digital marketing trends digital maturity Digital Transformation direct-to-consumer (DTC) fintech Innovation Insurance insurance industry trends insurtech

Insurance 449
article thumbnail

Top Four Themes From The Future Of Insurance In Europe, 2022

Forrester IT

The four significant insurance themes that emerged from The Future of Insurance, Europe 2022 event. AI Insights insurance industry trends insurtech machine learning

Insurance 195
article thumbnail

What Is The ROI Of Digital Transformation In Insurance?

Forrester IT

I work with digital execs at global insurance firms that are in the throes of digital transformation. And one of the top inquiries that I’ve received from our insurance clients is: what is the ROI of digital transformation? The time has come for insurers to take a hard look at their digital investments to date. […]. age of the customer Insurance

Insurance 365
article thumbnail

The Future Of Insurance

Forrester IT

Given the pace of social change and technological innovation, the future of insurance is very interesting! We recently published research on the future of insurance in which we offer perspectives on three central themes: insurance solutions vs. a products-based focus; ecosystem convergence; and virtual vs. vertical integration.

Insurance 316
article thumbnail

China Pacific Insurance Transforms Claims Management With Computer Vision

Forrester IT

Insurers are spending billions of dollars to modernize claims management. Traditional insurance carriers such as China Pacific Insurance (CPIC) are investing in emerging technologies such as AI, which is among the top technologies to invest in for insurance companies in 2020. CPIC has accelerated its transformation into a digital insurer by applying computer vision in […].

Insurance 240
article thumbnail

Will Cyber Insurance Cover Nation-State Attacks in 2023?

IT Toolbox

Lloyd’s exclusion of insurance coverage for nation-state cyber attacks will likely encourage other insurance players to replicate the action in 2023. The post Will Cyber Insurance Cover Nation-State Attacks in 2023?

Insurance 242
article thumbnail

How to Get the Best Cyber-Insurance Deal

Information Week

So can a bad cyber-insurance policy Cyberattackers can drain an organization's bank account.

Insurance 200
article thumbnail

Cyber Insurance: What The Changing Power Dynamics Mean For You

Forrester IT

Cyber insurance is only one component of a bigger enterprise cybersecurity risk management program. However, the cyber insurance market has been on a roller coaster, with skyrocketing premiums, changes in coverage, and a demand for policies that outweighs available supply.

Insurance 195
article thumbnail

To Benefit From $90B New Insurance Sales In 2019, Insurers Need A Seamless Digital Integration

Forrester IT

As Hurricane Willa rapidly moves closer to the US border, how are insurance companies preparing for this next calamity? The rise in natural catastrophes puts mounting pressure on insurance margins. While there’s no resisting Mother Nature, insurance companies need to prepare themselves for the nearly $90 billion in new insurance sales in 2019. ForecastView Insurance

Insurance 304
article thumbnail

Top Insurance Tech Trends To Watch In 2019

Forrester IT

How will the “whats” of insurance — underwriting, claims, and compliance — translate into new “hows” in 2019? Watch the video below for more information on what’s driving changes in insurance business strategy and the tech that enables it. digital disruption Insurance predictions 2019Do you need more help? Forrester clients can set up an inquiry with us.

Insurance 387
article thumbnail

Who’s Responsible For Cyber Insurance Policy Misrepresentations? It Depends.

Forrester IT

On July 6, 2022, The Travelers Property Casualty Company of America (Travelers Insurance) filed a suit in Illinois Federal Court against International Control Services, Inc (ICS) asking for policy rescission and declaratory judgment against ICS. insurance industry trends risk management

Insurance 195
article thumbnail

Insurance Leaders: Review Your Marketing And CX Budgets In The Wake Of COVID-19

Forrester IT

Different industries, including insurance, face disparate consumer trends, resource availability, and revenue potential during the pandemic and its aftermath. As a result, insurers […].

Insurance 348
article thumbnail

Services You Should Expect From Your Cyber Insurance Provider

Information Week

Cyber insurance is a novel service -- and clients still don’t know what they should expect. Experts tell us what premium cyber insurance firms are offering and what you should plan on securing for yourself

Insurance 217
article thumbnail

How European Auto And Home Insurers Can Differentiate On Customer Experience

Forrester IT

Forrester surveyed customers of the 32 of the largest and most important auto and home insurance brands in France, Germany, Italy, Spain, and the UK about the quality of their experiences as a part of our European Auto And Home Insurers Customer Experience Index, 2021.

Insurance 195
article thumbnail

Walmart Doubles Down On “Save Money. Live Better.” As It Wants To Help You Shop For Your Next Health Insurance Plan

Forrester IT

Walmart quietly launched Walmart Insurance Services LLC. The new business entity moves Walmart beyond just offering education on insurance to selling health insurance policies.

Insurance 390
article thumbnail

Computer Vision Technology Is A Promising Latecomer To The Insurance Market

Forrester IT

Computer vision technology is a recent entrant in insurance, but it has the potential to revolutionize how insurers process claims, identify fraud, and evaluate risk.

Insurance 195
article thumbnail

Evolving Business Risk Drives Embrace of New Insurance Tech

Information Week

Rising business and cyber risks are driving innovation and technology adoption in the insurance industry

Insurance 213
article thumbnail

Predictions 2020: Insurers Will Seek To Engage Customers With Their Impact Agenda

Forrester IT

In 2020, insurance companies will battle back against the market changes by focusing on three key areas. Read Forrester's predictions for the insurance industry here. age of the customer Insurance prediction promoted

Insurance 291
article thumbnail

Predictions 2022: Insurers Will Find Value In New Processes, Products, And Distribution

Forrester IT

After a challenging 2021, insurers will tap new data sources to find hidden profits in challenging areas. Age of the Customer insurance industry trends insurtech predictions

Insurance 195
article thumbnail

Health Insurers: Taking Average To The Extreme

Forrester IT

For the first time in the history of Forrester’s Customer Experience Index (CX Index™), every health insurer tracked in the study earned a rating of “OK.”

Insurance 284
article thumbnail

Three Sacred Myths Of The Hong Kong Digital Life Insurance Market

Forrester IT

Hong Kong (China) is one of the most sophisticated life insurance markets in the world which has attracted hundreds and thousands of customers from mainland China and many other places.

Insurance 475
article thumbnail

Now is the time for traditional insurance companies to embrace innovation

Venture Beast

Traditional insurance orgs need to seize this moment to leverage the power of their data and own the inevitable disruption of their sector. Read More.

Insurance 138
article thumbnail

The Worsening Cyber Insurance Landscape: Top Survival Tips for Businesses

IT Toolbox

Cyber insurance helps businesses cover the costs associated with recovering from a cyber attack. However, rising insurance premiums are making it unaffordable for many. The post The Worsening Cyber Insurance Landscape: Top Survival Tips for Businesses appeared first on Spiceworks.

Insurance 230
article thumbnail

Lemonade’s Acquisition of Metromile: Start Your Engines! The Race For Digital Insurance Supremacy Just Took A New Turn

Forrester IT

Last week Lemonade revealed Lemonade Car, its entry into auto insurance. This week, it announced the acquisition of Metromile, one of the largest usage-based auto insurers in the world. Talk about timing.

Insurance 195
article thumbnail

European Customer Experience Index, 2020: How Banks And Insurers Can Connect CX with Business Impact

Forrester IT

Age of the Customer Banking customer experience customer experience index (CX Index) Europe financial services Insurance Customer Experience (CX) cx index Financial Services First Direct ING insurance LV= Monzo More Than RSA

Insurance 221
article thumbnail

The Insurance Industry Is A Prime Target For AI Technologies And Solutions

Forrester IT

In their quest to become digital insurers, insurance carriers have a revolutionary opportunity to improve their businesses with new and emerging artificial intelligence (AI) technologies. It is certainly a balancing act to find that perfect peanut butter-and-jelly combination of operational efficiency and customer engagement, however I believe many insurance carriers to be up to the […]. artificial intelligence (AI) customer experience Insurance risk management

Insurance 318
article thumbnail

Insurers are joining fintech party

Computer Weekly

Insurers are held back from digital transformation by legacy systems, but insurance-focused IT startups offer them hope

Insurance 232
article thumbnail

Process Orchestration: Benefits for Insurance, Financial Services and Telecommunications

IT Toolbox

The post Process Orchestration: Benefits for Insurance, Financial Services and Telecommunications appeared first on. Benefits of process orchestration for finance and telecom. Digital Transformation

article thumbnail

The Tech Vendors That Are Remaking The P&C Insurance Claims Experience

Forrester IT

Today, Forrester published its first-ever evaluation of the technology that gets consumers back to normal after an insurance claim. The combination of COVID and catastrophes has hit property and casualty (P&C) insurers especially hard, driving more and more complex consumer and commercial claims. The efficiency of the process and the experience delivered to both the […].

Insurance 186
article thumbnail

Three Business Scenarios Insurers Can Use To Navigate The COVID-19 Storm

Forrester IT

For insurers, the long-lasting effects of COVID-19 can range from moderate to severe across multiple business elements Though insurers have been planning for pandemics, measuring the exact impact of […].

Insurance 243
article thumbnail

What Does a New, $45M Cyber Catastrophe Bond Mean for the Cyber Insurance Industry?

Information Week

Beazley launched a first-of-its-kind, $45 million cyber catastrophe bond, a move that suggests change could be coming to the cyber insurance market

Insurance 170
article thumbnail

The Cyber Insurance Market in Flux

Information Week

With cyber-attacks on the rise, cyber insurance is becoming a necessity for many organizations. But costs are skyrocketing, and claims are being denied

Insurance 167
article thumbnail

Why to Rethink Liability Insurance for IT

Information Week

For years, companies have protected themselves with general liability insurance. But with the new range of cyber threats, IT has become part of the liability discussion

Insurance 167