What stands in insurers’ way when it comes to modernizing their core processing platforms?
In my previous blog, I argued that a number of compelling reasons were making it imperative for life insurers to modernize their core systems. Why then are so many hesitating?
The reasons can be extremely complex, but they fit into two broad categories:
Expense. While insurers may understand the need to inv . . .
Two other manufacturing tactics can be used to help insurance marketers reach their targets better.
In my first two posts on just-in-time marketing I discussed the problems with current insurance marketing approaches and one of the solutions CMOs can adopt from the world of manufacturing: Kanban. This time I’d like to propose two others.
Kaizen is an organizational mindset that pervades the whol . . .
The convergence of digital technologies and data sets the stage for massive disruptions and therefore opportunities in the insurance industry. Insurers need to make investment bets now to position themselves for the future.
As the great philosopher Yogi Berra once said, “Predictions are hard, especially about the future…” Nevertheless, it’s something we all have to do. Increasingly violent and fr . . .
In my previous posts in this series, I briefly set the scene for Accenture Technology Vision 2014 for Insurance and looked at a few of the technology trends shaping the insurance market. Now, I’ll conclude with a brief look at where the industry is vulnerable to disruption and why insurers need to start embracing digital transformation if they are to remain ahead of a changing market.
Insurers hav . . .
Smart growth entails incorporating new sources of data into existing and new insurance products. As a new generation of connected devices emerge (think The Internet of Things), insurers will need to incorporate data on such elements as location, behavior, time, context and functionality into their products. These products will not only meet the direct risk needs of the insured, but also allow the . . .