Customer experience can be a competitive differentiator for life insurers, and many of them are making strategic investments in customer experience across the enterprise to bolster business growth. These investments in people and technology are providing the 360-degree view of their customers…
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Over the past few years, the Insurtech sector has established itself as a vital catalyst for innovation in the insurance industry. Insurtech is a term that comprises a new group of technology-based start-ups that are disrupting the insurance industry. Agile, technology-centred and…
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With all the connectivity that cloud enables, and complex dynamics at play in determining who has the responsibility to process and protect PII, insurers need to work with their ecosystem partners to protect the data of their customers and employees. In this…
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The recent 2022 Qorus-Accenture Innovation in Insurance Awards are a powerful, practical illustration of the trends shaping the insurance industry. Sustainability and workforce transformation are becoming central to insurers for retaining relevance in a changing market. Insurers need to embed sustainability into…
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Despite continuing market volatility and uncertainty, we are fundamentally optimistic about the future of the insurance industry, which has demonstrated resilience through the pandemic and in the face of inflation, losses, and reserve capital requirement headwinds. As COVID-19 became a global pandemic…
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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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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...
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...
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...
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...
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...
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 the impacts of climate change rise and interest in renewable energies peaks, sustainability is becoming a central priority for businesses across all sectors – but insurers have the edge in terms of...
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...
