Insure Think

Carriers can take their digital cues for the year from the dominant topics at the gathering of technologists.

If you are an owner of insurance technology ecosystems, and are wondering what to do, the answer is patch.

If insurtech is to truly transform insurance, it must ultimately affect the key financial metrics of the industry.

There will be a shift from products that change consumer experience to core solutions that will bring greater efficiency to an industry, says XL Innovate expert.

The insurance industry faces a couple of big hurdles: risk aversion and a culture that is also very averse to change.

Core system vendors like Guidewire, and Majesco have announced new digital capabilities that could significantly change how insurance technology firms compete.

Enterprises realize that if they can refocus their resources on their core competency, they would be much more competitive in their respective markets,

Several ‘digitally native’ insurers have laid the groundwork for growth. The industry will be on the lookout for a transcendant entrant.

Among the many challenges facing the insurance industry, none might be more critical than finding and keeping strong tech talent.

While the concept may seem bewildering, it actually is based on a basic six-step process.

Car accidents are rising, and with them, insurance losses. Here's how carriers can adjust.

As more AI applications emerge, the corporate database will evolve to support them.

Although most insurers have a running start at digital transformation, most do not have the capacity to partner with the likes of an Amazon.

Even if the end goal is to have chatbots available across all modes of support and service, such strategic projects start best with tactical investments.

Rather than facing a simpler tech environment where the investment choices are obvious, it appears the insurance industry is at a point of inflection where the old established world may have to give way to the new.

Managing information in a digital world is as complex as the digital workflows supporting the efforts.

ISPs aren't likely to risk the poor publicity or liability concerns that would come from restricting traffic from home-protection or health devices.

The new focus will be on the information that business users and business-focused analysts can utilize in their everyday decision-making.

Insurers face the risk of investing too heavily in RPA if they treat it as a long-term solution rather than a temporary fix.

There is no question that understanding the technologies themselves are important, but it is about what the technologies mean for customers, risks, and operations.

And insurers are ready to feed that beast, as initiatives at MetLife and others show.

Many organizations are harnessing only a fraction of the potential value of analytics and thus missing out on the chance to turn insights into a competitive advantage.

Major business intelligence providers are building tools designed to introduce more employees to data analytics, with a focus on three key areas: accessibility, collaboration and consumability.

When moving away from familiar systems and deploying something new, a failure to plan properly could be disastrous.

Efforts to make AI more accessible also may alleviate the shortages of data and computer scientists.

Carriers need to be more on notice than ever that marketplace could change rapidly after Senate tax bill passes with repeal included.

Investing in a company via a fund is a different level of involvement from incubating a startup.

The industry's human element is an asset that can’t be abandoned, especially at a time when disruptors are attempting to come in from all directions.

A cybersecurity governance group with multiple stakeholders will help the organization understand security initiatives and align them with the business.

Advancements in natural language processing and machine learning algorithms are enabling machines to create human-like, digital conversations.

Both parties have good intentions, wanting to do what’s best for the organization, yet conflicting priorities and viewpoints make them frequently go head to head.

Many of these dangers stem from the increasing reliance of financial services companies on outside technology firms.

The range of technologies that are part of the AI family give carriers a lot of options in using it.

Because they gather and hold so much data, carriers enjoy a supreme advantage as data-driven models take over.

Some tasks require so much human judgment, intuition and empathy that it will be a very long time, if ever, before AI assumes control.

Blockchain may well become foundational to the business world and pervasive in insurance, but it is likely to evolve gradually over the next decade.

With today’s digital tools and platforms, the technology can be applied to various aspects of the insurance value chain.

Eliminating the Obamacare component is seen as a way to pay for tax cuts, but its removal could cause instability in the health insurance market.

Policyholders like what digitally focused entrants have to offer, but are more likely to trust established players.

Companies are looking for tighter bonds with their customers, and insurance companies have lots of information to offer.

Strong vetting is crucial to establishing a relationship with a trusted business partner, and paving the way for a successful technology initiative with long-lasting results.

The data discord happening at some organizations may be the result of unclear expectations or a lapse in communication between these individuals.

Most consumers have already benefited from digital, mobile self-service, but have also been victims of tech gone wrong.

Enterprises remain committed to building on their legacy infrastructures, but the massive influx of data poses new challenges to incorporating it all.

Private digital health insurance exchanges could see a boost after President Trump's executive action.

A proposed executive order could exempt "association" health plans from ACA regulations designed to protect people with pre-existing conditions.

By working with Slice, the incumbent insurer will be able to break into a new business line.

Emerging AI technologies will allow insurers to make more nuanced, on-demand decisions and expand their product portfolio.

Insurance companies can help consumers stay informed on risks to lives and property, evolving them into life-coaches.

It’s critical that today's students understand how analytics is evolving and how artificial intelligence can help solve real world problems.

Companies with good remote work procedures can easily switch from in-office setups to work from home or work from alternate location needs.

Insurer’s personal insurance unit is looking to develop lasting relationships with startups in big data, AI and more.