Posted on October 23, 2014 by Jonathan Rusby
Back in the days of classical economists such as Adam Smith and classical engineers like Charles Babbage, there was a keen sense of the value in a division of labour—workers having their own specific tasks and roles as a means to enhance productivity (for example, craftsmen not being expected to do the same things as lesser paid, unskilled workers). In some ways this division still exists in many . . .
Posted on October 23, 2014 by Mark Halverson
Data privacy is set to be the catalyst for the emergence of a totally new business model: the trusted ecosystem.
Last time, I argued that the data monetization business model, which is now beginning to emerge, is already setting itself up for massive disruption—with the unlikely catalyst set to be data privacy and ownership.
I should add that the growing desire of individuals to take control of th . . .
Posted on October 22, 2014 by Thomas Meyer
How can insurers keep customers loyal and happy—especially at an insurer’s most vulnerable moment?
Many insurers have invested significantly in improving the claims experience, and as recent Accenture research found, they have succeeded in one respect. Globally, the majority of customers are satisfied or very satisfied—and the trend holds across Europe, and parts of Asia and Latin America.
Earlier . . .
Posted on October 22, 2014 by Jean-François Gasc
Digital insurers following the online business model use technology to offer more direct services, while branches are repositioned.
Last week, I looked at the tailor-made digital insurance model or archetype. This week, I’m honing in the Online model which, like the tailor-made, is focused on increasing profitability and customer retention—but through a customer relationship that is simple and ef . . .
Posted on October 22, 2014 by Cindy De Armond
Most insurers recognize that success requires more than just maintaining the status quo. While they survived the latest economic downturn – as well as a period of major catastrophes — market volatility still remains a real threat for insurers.Increased customer churn, the changing regulatory environment and rising competition brought on by new market entrants all signal the need to seek new . . .