Posted on July 21, 2014 by Michael Costonis
One of the most valuable applications for analytics is the ability to predict and address customer needs, in real time. This may have been an innovation a few years ago, but today it’s a necessity—and it’s compounded by customer expectations of cross-channel, cross-device experiences.
In this Insurance Chart of the Week, I’ll look at whether insurers are using data and analytics to react in real t . . .
Posted on July 18, 2014 by John Cusano
In my second post in this series I discuss the growing role of connected devices in auto, household, and life and health insurance. I believe they will result in profound changes in the way products are developed, priced and sold. But more than that, they will transform the nature and the frequency of insurers’ interactions with their customers.
In this video I look at the capabilities carriers wi . . .
Posted on July 18, 2014 by AccentureINS
Usage-based insurance is striking a chord among consumers who believe they are paying more than they should. Could telematics be the beginning of the end of underwriting that uses broad demographics to group customers together under the assumption that they represent similar risks and should pay similar premiums?
One UK online carrier allows customers to buy miles of coverage in advance. An onboar . . .
Posted on July 17, 2014 by Michelle Krause
For many years insurance companies have operated as companies within companies, each with its own databases, functions and processes. Such organizational silos no longer serve insurers, particularly in an environment where customer demands, regulations, new competitors and profitability pressures compel them to be more agile, efficient and innovative.
Insurers need to make four key business connec . . .
Posted on July 17, 2014 by Micheal Colombo
This is my first post on the Accenture Insurance blog, and I’m looking forward to using this platform to bring a European perspective to the challenges that multinational insurers face as they transform their operating models for the digital world.
In my first series of blog posts, I’ll take a look at how digital transformation can serve as a catalyst for business and operating model harmonization . . .