Insure Think

Taking pride in operational excellence speaks volumes to the technology challenges many insurers face as they evaluate aging systems that can’t perform to the customers’ expectations.

Long considered laggards in the digital economy, the insurance industry is beginning to make up for lost time.

UK's Admiral Group quickly scuttles plan to supplement quoting with information from Facebook after privacy concerns raised.

There is clear upside in the evolution of the underwriting function away from its traditional transactional focus toward a more strategic and customer-focused orientation. (Part 1 of a series).

Many carriers are either undergoing or have completed core replacement projects, while at the same time facing a talent crunch.

When it comes to launching an internal startup such as an insurtech operation, a separate organization, with its own culture, is needed.

As big data spreads to more core insurance operations, data scientists will increasingly rely on leaders in traditional insurance roles to identify areas where data analytics and expensive modeling tools can have the greatest impact on business outcomes.

The means used to mount the October 21 attack highlights vulnerabilities that insurers must recognize as they build their IoT plans and initiatives.

Women’s secret to success is in striking a balance between superior performance at work and the ability to network with influencers who can help you.

Companies that don't find incumbents to partner with them face a tough road.

For the first time, we have tangible evidence that insurers and their business partners are willing to do more than “talk the talk” regarding their ability to become a true, innovation-driven industry.

The challenge for insurance companies is that tech talent is a precious commodity, especially at a time when moving into the digital realm and exploiting data analytics is crucial to success.

Broad-based organizational change isn’t easy, but an articulated sense of purpose gives insurers a powerful tool for driving through resistance to change.

The mix of vehicles with autonomous and semi-autonomous features, and the evolution of the artificial intelligence systems guiding the automation, mean insurers are in for a long period of change.

It may be surprising that there was automated underwriting 25 years ago.

For a better customer experience, insurers should take a look at customers' travels through their processes.

Insurer's conversion to Salesforce prevents end users from having to improvise ways to cobble together data.

Whatever a company’s stated purpose, well-designed end-to-end experiences are essential to bringing it to life operationally.

As some insurers cling to the classic “if ain’t broke, don’t fix it theory”, IT executives face added pressure to update core.

Remarks at a Monte Carlo conference indicate the search giant is looking again at the insurance industry.

As automation increases, it’s not that jobs will be entirely eliminated, it’s more likely that jobholders will see the nature of their tasks shift away from repetitive tasks and toward people-oriented tasks.

Seizing the opportunity will require new ways of thinking, radically different operating models and entirely new capabilities--especially in the realm of customer experience

Insurers are responding to the increased frequency and complexity of cyber threats by inadvertently putting higher security burdens on customers when they release new digital tools.

Insurers can benefit from a re-orienting of traditional markers of business success for the digital age.

Insurers of all sizes are being forced to recognize and act on one of the greatest opportunities to date: to attract, source, train, develop and retain workers with skills in advanced computing.

The reality is the market for core system replacements is shrinking.

The challenge for insurance IT managers is to sell their workplaces and companies as cutting-edge opportunities for IT professionals.

VR can be leveraged to learn, travel, educate, and share experiences with others.

Many organizations, especially insurance companies, have been attempting to straddle the (little-D) "delta" between enormous stores of legacy assets and 2010s-era digital demands in recent years.

Teams that only look at time and budget inevitably end up with a significant backlog of functionality and tech debt that may or may not be funded and addressed.

Insurance technology is increasingly resembling that of the Amazons, Googles and Facebooks of the world – responsive, smart and adapting from sub-second to sub-second to changing realities.

With all the attention and funds now being poured into insurance industry innovation, software providers must help insurers “get ready" before it's too late.

The insurance industry has witnessed particular trends in innovation that highlight a unique claims approach.

The sweet spot for insurers' online distribution efforts and startups looking to innovate may be the small business insurance market, study finds.

Not all carriers are completely ready to lock in to a cloud-based service model in which core systems’ computing resources are shared and maintained on the Internet.

Metlife’s goal was to use advanced analytics to manage liquidity and optimize the use of highly liquid assets.

Insurers have many options when it comes to marketing via the mobile channel, but the most underused is the art of texting.

Carriers will continue to invest in managing and analyzing both structured and unstructured data from telematics, wearables and weather, Celent predicts.

More insurers are treating data, business intelligence and analytics as a functional area of the business, resulting in increased technology investments and staffing.

AI may not be a perfect fit for insurance companies, at least not yet.

Having a vision statement and defining the future state of each business process can greatly aid insurer's core replacement efforts.

Opportunities arise for insurers to catch customers as Pokemon GO users wander into dangerous places.

In a world in which insurers are considering using wearables like FitBit to validate claims data, apps like Pokemon GO offer the same information in much greater detail.

Front office and back office apps need to talk to one another to make sure companies are able to win, serve, and retain customers.

New commercial shows a world without windstorms, traffic accidents, building fires, and emergencies -- and that State Farm and its agents will be in the lending, wealth accumulation, and retirement income businesses.

The insurance industry is known to be conservative when it comes to new technology paradigms, but may not be alone when it comes to data analytics.

Legacy systems are not a Y2K problem – there’s no ticking time bomb.

Policyholders will always make questionable choices and exhibit unsafe behaviors, but insurers at least have a running start at reducing frequency or severity of loss.

The cost of a data breach is going up, and quick responses can save savvy organizations.

The UK's departure from the EU highlights the importance for companies to maintain flexible, globalized IT operations to handle unforeseen events.

After a five-year high, a recently released J.D. Power study finds overall satisfaction with auto insurers has significantly dropped.

Insurers should increase their understanding of and investment in this particular section of the market, including thoughtful client segmentation, marketing efforts, and application of technology.