Catastrophic events and rising temperatures linked to climate change continue to challenge insurers and their customers. Fortunately, power is being restored in areas affected by Hurricane Ida, but recovery is about more than turning the lights back on.  In this month’s Insurance News Analysis, Abbey Compton and I talk about the scale of Ida’s impact. Insurance customers in affected communities will look to their…

It’s easy to feel like insurance is already divided into digital leaders and digital laggards. But my previous post presents some very interesting findings from Accenture Research that undercuts this view. Since the pandemic, a surprising number of businesses have turned into “Leapfroggers” and made huge leaps forward in their IT strategies and revenue growth.…

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 continue to evolve, insurers need to continue to look forward and plan for the future. They’ll want to consider the outlook for the industry…

Experts have been predicting the demise of the insurance agent for a while now—almost since I first entered this business over 30 years ago. While the direct channel has taken significant share over this time, agents still own the lion’s share of the market and remain indispensable for insurance. Let’s look briefly at some Accenture…

The COVID-19 pandemic and ensuing lockdowns have changed how we work for good. Offices, once the bustling centre of company life, have for much of the year been home only to empty desks, unground coffee beans and unanswered questions… With work-from-home having had ample chance to prove itself over the past 18 months, some are…

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. Historically, insurers have relied on risk models and actuarial tables to know how to develop and price their products. In recent years, we saw many of those…