Posted on October 31, 2014 by John Cusano
In my previous posts in this series, I discussed what agility means to insurers, and why insurers need to build diverse leadership teams and prepare their ecosystems to act quickly. In this third video in a four-part series, I talk about why prioritizing strategic decisions and speeding up decision-making are key to improving agility.
In my next and final post in this series, I’ll talk about how . . .
Posted on October 31, 2014 by AccentureINS
It’s no secret that the amount of customer data available, from both internal and external sources, has turned into a deluge. All this data has the potential to help insurers gain a deeper understanding of their customers, and with that knowledge, provide customers with more relevant products and services.
However, many carriers are struggling to keep up with the massive flow of data. They don’t h . . .
Posted on October 29, 2014 by Erik J. Sandquist
Historically, insurance companies have sought to create robust profiles of their customers for better pricing and risk selection. In today’s world, social media networks such as Facebook, Twitter, LinkedIn and others provide a rich dataset for insurers to better understand insurance consumers, their behavior, and the things they own or use.
Accenture research gives us some additional context aroun . . .
Posted on October 29, 2014 by Thomas Meyer
Globally, most insurance customers are satisfied with their providers—but some customers are more satisfied than others.
Last week, I introduced the Accenture Claims Customer Survey. Globally, we found that 93 percent of respondents were satisfied with their insurance providers.
Of the nearly 8,000 customers we surveyed, 40 percent had filed a claim within the past two years. Of these respondents, . . .
Posted on October 29, 2014 by Cindy De Armond
As discussed in my previous post, product innovation is a critical component of stability and smart growth. Many insurers, however, approach this essential capability as a sprint, focusing all their energy towards making a quick impact on the market. While sprints are useful for reaching short-term goals, they are not sustainable over time. As a result, insurers that adopt this “sprint mentality” . . .