Posted on July 25, 2014 by John Cusano
Forget science fiction—the Internet of Things is a new way for insurers to get better at customer service, and thus strengthen their businesses.
In my previous two video blogs, I explained that the Internet of Things threatened some disruption to the established insurance value chain—but that it also offered considerable opportunity. Now I’d like to expand on what I see as two of the main points . . .
Posted on July 25, 2014 by AccentureINS
By capturing customers’ exercise data, life and health insurers gain rich insights that allow them to personalize their pricing. While much is written about privacy concerns, Accenture’s Consumer-Driven Innovation Survey shows that many people would trade personal information with their insurers in return for better, tailored service and cost savings. Consider this stat: nearly half—46 percent—of . . .
Posted on July 24, 2014 by Michelle Krause
As I stressed last week, there’s no place for silos in the connected-everything age. There is an opportunity now for insurers to operate in an integrated way, delivering superior customer value while driving efficiency and growth.
So, how can insurers begin the transformation toward seamless integration? After defining the vision and goals, Accenture recommends five areas of focus:
Establish a . . .
Posted on July 24, 2014 by Micheal Colombo
In my previous post, I spoke about how international insurers should use digital transformation as an opportunity to harmonize their international operations. Now, I’d like to look in greater detail at the role customer-centric interfaces have to play in helping international insurers transform their businesses.
Most insurers today have legacy IT systems and business processes that are engineered . . .
Posted on July 23, 2014 by Thomas Meyer
In nearly every industry, the biggest companies are taking the lead in the digital game. L’Oréal, Tesco, BMW, Unilever, Nestlé and GE are just a few examples of Global 2,000 companies that are racing to become digital. Those that get there first will disrupt their existing markets and penetrate new ones.
But what of insurance, an industry that has been somewhat slower in its adoption of digi . . .