The insurance industry continues to cope with an aging workforce and with the impacts of the Great Resignation. To fill the resource gaps, carriers are increasingly turning to collaborative robots, or cobots, to help train and retain younger workers. In this Insurance…
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An insurance claim comes at a stressful time in a customer’s life, often making it a negative experience. At least, that’s what you might assume. That’s why I was surprised when our latest research report, Why AI in Insurance Claims and Underwriting, showed…
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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 support data analysis and decision-making. Quantum computing has the potential to change the…
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How do insurance companies build strategically resilient business models in an unpredictable future? To start, the future isn’t entirely unpredictable. The impacts from many of the most talked about disruptors, including telematics, climate change, automation, AI-driven service models and many more, are…
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The recent Qorus Accenture Innovation in Insurance Awards highlighted the world’s leading insurance changemakers. The winners of each category stood up against tough competition with initiatives that were not only innovative, but effective and with measurable impact. In this blog series, I…
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Through the pandemic, many carriers accelerated their plans to develop digital customer experiences that allow customers to satisfy their needs without having to speak with a live person. However, there are still situations where it may be important for customers to talk…
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As changes in risk and macroeconomics—especially inflation—continue to influence insurance industry dynamics, regulators remain engaged to help insurers and customers adjust accordingly. But not all interventions are achieving their intended outcomes. In this month’s Insurance News Analysis, Joanne Laffan and I discuss…
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In 2008, Accenture published the results of the first P&C Underwriting Survey in partnership with The Institutes. As the longest-running longitudinal underwriting survey in the insurance industry, this report reveals a holistic picture of where underwriting has been—and where we’re going. Namely,…
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Customer expectations are shifting towards a preference for holistic financial guidance. Today’s customers are looking for advice that’s tailored to their specific needs. They will actively switch to companies that can provide both personalized support and experiences that are aligned with their…
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It was my great pleasure to join Paul Mang, Chief Innovation Officer at Guidewire, on the Insurance Coffee House Podcast. Paul and I talk about how our career journeys have intersected and how we now work to drive innovation for our insurance…
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For many of us, ringing in the new year means setting resolutions for better health and well-being. Whether in business or our personal lives, we must consider the scenarios that may threaten or enabl...
The insurance industry has been built on data since its inception. Meanwhile, several other industry sectors have proven that there’s a need for a fundamental shift in how data is used—a shift that’s ...
The life insurance and annuity industry proved resilient in 2021, even in the face of COVID-19 and the delta variant. I’m encouraged by the amazing scientific breakthroughs that created and distribute...
The first part of this blog series introduced Accenture’s strategic resilience framework. In this blog, I will expand this introduction to take you through our framework step by step using the lens of...
In this series, we’ve been looking at the value digital twin data can bring to the insurance business. Specifically, I see there being four main areas where insurers could take advantage of digital tw...
Emerging risks and changing customer behavior are shifting the revenue landscape for insurers. These trends call for change in the products and services insurance companies bring to market. Historical...
Few lines have been talked up in recent years quite like cyber. Indeed, Accenture has predicted $25bn of growth in annual cyber premiums globally by 2025 – or a 500% increase on today’s ~$5bn GWP. Dem...
Highlights: More than 850 institutions have participated in the Innovation in Insurance Awards since 2016. The awards are free to enter. Find a step-by-step walkthrough of the submissions process with...
The COVID-19 pandemic continues to cause upheaval in our business and personal lives in North America and around the world. While there is still considerable uncertainty around how the pandemic will c...
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...
