These awards have become more than just a platform for trophies since 2016. They now serve as a springboard for significant transformation. They feature insurtechs and insurers who are not satisfied with the current status quo and have the guts to reconsider how insurance functions in people’s lives. And the patterns for this year? They …
This initiative is urgent, not just timely. Rethinking Insurance Inclusion: The BIIC The BIIC was established in order to draw attention to, assist, and address the particular difficulties that Black professionals in the insurance sector confront. It is a place for dialogue, strategy, transformation, and mentoring. Additionally, it is for the advancement of the business …
The most important thing is this: 1.Take the Lead with Worth Underwriting and claims are two areas where Gen AI has a significant impact. Up to 40% of an underwriter’s time is still spent on administrative tasks, so it eliminates the tedious work and makes it possible to make quicker, more intelligent decisions. Gen AI …
We have moved from in-person agent meetings to digital-first platforms, from yearly renewals to real-time coverage triggers, during the last 20 years. A new generation of empowered customers is now on the rise; they are willing to trade their digital footprints for improved service, are fluent in data, and expect customisation. These changes are not …
However, many insurers are failing in spite of a growing trend toward digital innovation and customisation. 74% of consumers have canceled purchases because they felt overburdened, per Accenture’s Empowered Consumer 2024 research. Even worse, only 39% of consumers think businesses actually look out for their interests. Why, then, is there a disconnect? What can insurers …
Swiss Re predicts that the global life insurance market would expand at a robust 3% a year, more than doubling the rate of the previous ten years. It takes audacious reinvention, more calculated risk-taking, and, to be honest, keeping up with a world that does not slow down to achieve that kind of development. These …