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 …