My previous blog post in this series was focused on data to analyze how much, or how little, the insurance industry increased diversity in the last five years. In this post, I want to highlight specific examples, both good and bad, directly from the industry. But I also want to dive into the elephant in the room: talking about diversity. …
With assets under management of around €10 trillion, insurers in Europe have plenty of financial clout to drive changes that will promote sustainability earn them more trust among customers. Europe’s big insurers enter 2021 with a major opportunity to strengthen their commitment to sustainability. By carefully deploying their extensive financial assets and real estate portfolios they can substantially increase their support for environmental, social and…
While 2020 proved to be a year that changed the way we live and work, our predictions for 2020 nevertheless proved to be remarkably accurate. As we forecasted, life insurers that modernized their core new business and policy administration systems accelerated their digital transformations. Their new digital capabilities, including the cloud, analytics, automation, and ecosystems,…
This past year we have seen major companies, sports teams, and individuals making a splash by trying to push for social justice activities through their dollars, actions or statements. The one industry that has been relatively quiet in the arena—and the one that has been a quiet force around justice, safety, and responsibility for decades—has been insurance. We joke around about…
Many of the insurance executives we speak to want to know which of their digital investments are delivering a return—and which are not. To find out, Accenture analyzed public innovation announcements over the last five years from the top 30 insurers by total premium volume across all major markets worldwide. Our analysis found a high correlation between insurers with strong performance in top line, net income and market valuation and those who invested in two types of innovations: Distribution: Digitization, automation…
A surge in cases of COVID-19 and continuing civil unrest might make the new year feel a lot like last year. However, at least for insurers, there is good news worth sharing. In this first edition of the Insurance News Analysis for 2021, Natalie de Freitas and I talk about a few industry headlines you may have missed over the holidays. We start with one…
