Posted on December 19, 2014 by John Cusano
In my first two posts in this series, I explored the risks and opportunities the Internet of Things and related innovations create for insurers. Now, I’d like to have a closer look at how access to connected devices and the volumes of big data they produce could underpin next-generation business models for insurance carriers.
The tendrils of the Internet of Things are beginning to reach nearly eve . . .
Posted on December 18, 2014 by Eva Dewor
Most insurers understand the importance of having consistent processes in place to identify, measure, manage and report on common business risks. This extends to social media risk management too – the processes are built on the governance structures I discussed in my last post.
Social media risk management processes may look somewhat different because of the always-on nature of social networking p . . .
Posted on December 17, 2014 by Erik J. Sandquist
The traditional insurance customer has been joined by the digitally oriented, multi-channel and 24/7 connected customer. Sometimes they are two different types of customer; in many instances they are the same person, simply in different spatial and temporal contexts.
Accenture proposes five pillars to enable insurers on their journey to customer-centricity:
Customer understanding. Insurers need t . . .
Posted on December 17, 2014 by Thomas Meyer
Small-ticket insurance continued to make waves—though some might not be aware of them—and the online threat remained a small cloud on the horizon.
As the holiday season approaches, it’s traditional for media to take a slightly softer approach and look back over the past year. Who am I to break such a venerable tradition—and, besides, it’s actually a useful exercise in today’s fast-paced world.
So . . .
Posted on December 16, 2014 by Darcy Dague
Over the past four weeks, I’ve been discussing the benefits of collaboration for a more effective claims handling process.
Business and operating models are the most common impediments to collaboration efforts. Traditionally, insurers have siloed departments and product-centric processes; today’s market calls for agility and flexibility that is enabled by collaboration and customer-centricity.
To . . .