How And What Insurance US Small Businesses Buy Is Changing

Forrester IT

As insurers look at the end of the industry’s big cash cow—private passenger auto insurance—many have amped up their small business lines. Big tech, telcos, and insurtechs are also breathing down the necks of traditional small business insurers.

What’s Hot In Insurance Tech In 2019?

Forrester IT

In 2019, the pressure on insurance business and technology leaders isn’t letting up. age of the customer digital business Insurance technology AI digital digital insurance digital strategy disruption insurance insurtech legacy systems

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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 promoted

The Future Of Insurance

Forrester IT

Given the pace of social change and technological innovation, the future of insurance is very interesting!

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.

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 […].

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

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. ForecastView Insurance

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

Influential National Association of Insurance Commissioners (NAIC) Moves On Cyber

CTOvision

Cybersecurity practitioners and policymakers have long been discussing the potential positive benefits of smart insurance policy and standards to reduce risk. The National Association of Insurance Commissioners (NAIC) is the U.S. By Bob Gourley.

Planck raises $16 million to underwrite commercial insurance risk

Venture Beast

Planck, a startup leveraging AI and machine learning to underwrite commercial insurance risk, raised $16 million in venture capital. Read More.

The Three Key Actions That Will Define Insurance Tech Investment In 2019

Forrester IT

The Future Will Temper Insurer Optimism In 2019 Insurance business technology teams caught a few breaks in 2018. There were fewer, though costly, insured weather losses, as well as new thinking by insurance regulators when it comes to disruptive technology.

10 cyber insurance selling points

CTOvision

Read Elana Ashanti Jefferson list top ten reasons why companies, small and big, should buy cyber insurance on Property Casualty 360 : In a move that reflects the growing urgency for companies, organizations and institutions worldwide to proactively face down and mitigate cybercrime, Beazley, a longtime cyber insurance market leader, announced recently that it has […].

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.

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

Global Firms Under-Insured Despite Breach Concerns

CTOvision

Half of global organizations still don’t have cyber insurance, despite the majority believing cyber-attacks will increase next year, according to FireEye. The security vendor polled 800 CISOs and senior executives across the globe to compile its new Cyber Trendscape Report. More than half (56%) said they believe the risk of attacks will grow next year and 51% […].

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

Hot Or Hype? What Are The Insurance Tech Investments That Will Drive Business Value In 2020?

Forrester IT

Insurers are transforming their organizations with digital technologies. Drivers ranging from startup incubators and changing customer behavior to new risks and a potential recession are all influencing the tech investments from both carriers and agent/brokers.

Cyber Insecurity: A Boon for Insurers

CTOvision

Do you have good cyber insurance? An explosion in perceived cyber threats will lead to an explosion of attention to managing cyber risk, and that attention means booming business for cyber insurers. Randy Milanoff , a lawyer for insurance provider White & Williams, compares the Target data breach to ten Super Bowl advertisement for cyber insurers. By ShannonPerry. We’ve written plenty about data breaches.

Health Insurers Must Improve Member Experience Now or Be Replaced

Forrester IT

Improve Your Member Experience Now or Be Replaced Oscar Health is leading with a customer-centric business model and using technology to transform the future of health insurance.

Quick Resource Guide To Help Organizations Scale Healthcare Support During COVID-19

Forrester IT

Forrester has curated a list of companies that are delivering virtual care services and support for health insurers, healthcare providers, employers, and consumers during the COVID-19 pandemic.

Complying With Health Insurance Portability and Accountability Act (HIPAA) Security Rules

CTOvision

The post Complying With Health Insurance Portability and Accountability Act (HIPAA) Security Rules appeared first on CTOvision.com. CTO Cyber Security Health Information Technology for Economic and Clinical Health Act Health Insurance Portability and Accountability Act

The Insurance Industry and Big Data

Eric D. Brown

How would you feel if you got a letter in the mail from your insurance company telling you that your insurance rates have increased due to your social media activity? Big data has given insurance companies the ability to mine social media for all sorts of activities.

Insurance banana skins

IT Toolbox

When the insurance industry gets seriously worried about something, it means that seriously big money is involved

Different Year, Same Health Insurer CX Index Story

Forrester IT

Health insurers know why customer experience is critical — CX leaders grow revenue faster than laggards, can charge more for their products, and have a higher brand preference. Health insurers’ average CX Index score once again remained flat in 2018, with […]. But based on Customer Experience Index (CX Index™) data, the how continues to be a challenge. age of the customer

How Is the Pandemic Driving up Cyber Insurance Rates?

SecureWorld News

But how are these new developments impacting cyber insurance rates? COVID-19 is raising cyber insurance rates. At first glance, the driving force behind higher cyber insurance rates would seem to be more incidents leading to more expensive policy premiums.

Robots replace staff at Japanese insurance firm

Computer Weekly

Japanese insurance company Fukoku Mutual Life Insurance replaces 34 members of its claims assessment team with IBM Watson

[Guide] 2018 State of the Insurance Industry

Perficient - Digital Transformation

Creating value for customers, employees, partners, and shareholders has always been the core objective of insurance companies. Our new guide highlights the: State of the insurance industry based on our own insights, as well as those from leaders in the space. Most significant challenges diversified insurance, life insurance, and property and casualty insurance companies face and how they are solving them.

Axa offers on-demand insurance via mobile app

Computer Weekly

Insurance company launches app that offers quick and easy insurance cover for individual items owned by customers

Auto And Home Insurer CX Inches Up Slightly In 2018

Forrester IT

Seven auto and home insurers saw a statistically significant change to their Customer Experience Index (CX Index™) scores in 2018. Insurers should not get too excited, though. As a result, the average score for the industry has moved up one point since 2017. Despite this small lift, most policyholders in the US saw little or no […]. age of the customer

Do Independent Contractors Need Business Insurance?

Computer Weekly

What you need to know about business insurance as an independent contractor

Expanding Through M&A in the Insurance Industry

Perficient - Digital Transformation

Yet even as insurance companies lean on M&A for growth, every insurance company requires a more comprehensive program to achieve its growth targets. — To learn what else is driving growth, productivity, and efficiency, download our new guide: 2018 State of the Insurance Industry. M&A is always on the table, as it can provide quicker access to more customers through geographic expansion, as well as new business lines and capabilities.

Beneficiary Experience: The Big Retention Opportunity Missed By Financial Services Firms

Forrester IT

$500 billion: That’s the amount of money that moves around from both non-real estate inheritances and life insurance settlements every year in the US. Age of the Customer customer experience beneficiary best practices claim insurance survivor

Customer Experience Index Reveals Brands Lack Human Connection

Forrester IT

automotive banking customer emotion customer experience customer experience index (CX Index) emotion Insurance loyalty retail

Embracing Strategic Initiatives in the Insurance Industry

Perficient - Digital Transformation

Today, insurance companies remain heavily focused on growth, productivity, and efficiency. The answers to these big questions lie in the strategic initiatives that insurance companies must embrace to move their business forward. To learn about them, download our new guide: 2018 State of the Insurance Industry. That is, how can they generate more revenue and increase profitability? How can they get a bigger piece of the pie in a market that offers customers so many options?

The Top Tech That Will Win The Wallets Of Insurance Companies In 2020

Forrester IT

Insurance digital and application teams are executing their digital roadmap and commercializing their new thinking faster than ever before. Digital is now the essence of how customers engage and how carriers and agents operate. The result?

Security Think Tank: Six key factors in cyber insurance

Computer Weekly

What should organisations consider if they are to prepare for cyber insurance

Insurtech Funding Roundup, Q1 2020: Investors Reduce Risk As The COVID-19-Induced Downturn Settles In

Forrester IT

Insurtechs have brought innovation across the insurance value chain. Incumbents can’t stand still, especially as these nimble, digitally conscious startups disrupt insurance or bring capabilities that drive business efficiency.

How Ping An Insurance Embraced Digital To Rewrite Its Business

Forrester IT

As my colleague Ted Schadler stated (and I agree), digital transformation is in a sorry state. The term “digital transformation” has been constantly mentioned over the past few years, even becoming some enterprises’ North Star. But digital transformation can be a puzzle for business and technology leaders. When my colleague Meng Liu and I attended […

Malaysian insurer partners IT supplier to tailor cyber security policies

Computer Weekly

Partnership is in response to requests from AIG customers for a more comprehensive risk management approach to cyber insurance

Hi Marley raises $8 million for its AI messaging platform that connects insurers with customers

Venture Beast

Hi Marley, a startup developing an AI-imbued messaging platform for insurance carriers, raised $8 million in venture capital. Read More.

Security Think Tank: Lower insurance premiums through security certification

Computer Weekly

What should organisations consider if they are to prepare for cyber insurance

Transforming With Optimism in the Insurance Industry

Perficient - Digital Transformation

Mario Greco, CEO of Zurich Insurance Group, one of the world’s largest insurance companies, sat down with CNBC following the release of the company’s Q4 2017 earnings. Even after a year full of natural disasters (2017 happens to be the costliest year on record for the global insurance industry) and the potential financial burden (i.e., more claims) that climate change can place on insurers moving forward, the overall feeling about the future is optimistic.