As the insurance industry continues to navigate the pace of change, complexity and uncertainty in our world, consumers continue to respond, expecting companies to be more responsive to their needs. This year’s underwriting predictions offer guidance on how carriers can respond faster.…
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In a market that calls on insurers to be agile and digitize at scale, an insurer’s mainframe can either catalyze or inhibit progress. While the mainframe was once a valuable core technological function, many legacy mainframes lack the agility to meet the…
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As we near the end of 2022, the insurance industry is responding to disruption across all lines of business. From customers concerned about crypto losses to employers still assessing the risks of COVID-19, insurers are finding ways to offer protection. In this…
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Artificial intelligence has been around since the 1950s, but over the last several years the business potential of AI has expanded dramatically. We now live in a world where big data and powerful computational capabilities allow AI to flourish. Companies—including insurance carriers—are…
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Insurers and their customers in Florida may feel some relief with the end of this year’s hurricane season. But restoration from the damage left by Ian and Nicole is just beginning. And so are the questions about how the insurance industry will…
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This year’s InsureTech Connect conference brought together an incredible group of carriers and some of the industry’s most innovative insurtechs to connect over the technology that’s transforming the insurance landscape. ITC provided an opportunity to understand what’s happening in the insurance community…
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A year ago at re:Invent, Accenture and AWS announced a joint investment to accelerate cloud migration and industry differentiation for our clients. Increasing demand in commercial underwriting made insurance the obvious industry to blaze the trail. At AWS re:Invent 2022, Anand Premsundar…
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The insurance industry is experiencing a growing talent shortage. While this challenge has been anticipated, much of the discussion on solutions is often generalized to the entire workforce. But not every job will be impacted in the same way. As insurers grow,…
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As technology closes the gap between the real and the virtual, it has become more important than ever for carriers to consider how customer needs – and their ability to meet them – are going to evolve. In our recent Accenture Insurance…
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While product design—including technology and architecture capabilities—is foundational for carriers to play in the embedded insurance space, strategically leveraging the agent will exponentially increase the likelihood of an embedded product’s success. We believe agents could play a major role in embedded insurance…
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Embedded insurance is currently a red-hot topic in the industry. It has permeated many of our recent conversations as clients evaluate how embedded currently impacts—or could impact—their distribution...
Innovation-led revenues are poised to augment traditional revenues in many product lines. According to Accenture research, Innovate for resilience, and new insurance revenue, the global insurance indu...
In the two years since the World Health Organization declared COVID-19 a global pandemic, we have seen major shifts in how people expect to work, play, shop, and take on risks. It’s becoming clear tha...
As fuel prices rise and the world becomes increasingly conscious of the impacts of climate change, demand for electric vehicles is growing. Insurers can be key in helping their customers navigate the ...
In this blog series, we’ve looked at the latest entry in the only longitudinal survey of underwriters in North America. The study, which is run in partnership with Accenture and The Institutes, provid...
In this series on sustainability, we have discussed the various definitions on what sustainability means, from environmental concerns to integrating the needs of vulnerable, underserved communities. A...
Insurance underwriting is fundamentally a data-driven practice. With an increasingly interconnected world producing far more data than an individual human can process, computers and AI have come in to...
Blackcomb Consultants is now part of Accenture I am excited to welcome Blackcomb Consultants, a leading independent Guidewire partner in North America, into the Accenture family. Why Blackcomb Consult...
There’s been a seismic shift in how people and companies buy and sell services since the beginning of the pandemic. Salesforce data shows that 80% of business-to-business buyers have higher expectatio...
Leading insurance companies are reinventing their product and customer engagement strategies to meet the evolving needs of customers in real-time. To make it work, they need both customer data from co...
