The key to effective cyber-crime prevention is not more data, but the right data – and using analytics to gain actionable insights. Getting it right requires three vital elements.
As I said in my two previous posts, the effective use of data is insurers’ best chance of combatting the fraud and other forms of financial crime that have become the scourge of the industry. But to do so they need to in . . .
Vehicle telematics is neither a fad nor a mere addition to insurers’ pricing and underwriting capabilities—it is the catalyst for a range of new business models for auto-insurers. Telematics provides the opportunity for insurers to get much closer to their customers and gain a far richer understanding of their needs and motivations.
Through the data derived from telematics, insurers can not only d . . .
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 . . .