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Accenture Insurance Blog 03/22/2019 07:28
For years, insurtechs have been producing some of the most exciting and innovative ideas in the insurance industry, from cutting-edge uses of AI to radical new business models. Accenture’s analysis of data from CB Insights suggests that 2018 was the biggest year yet for investment in the space. The headline takeaway from the analysis is…. The post The Top 10 Insurtech Deals of 2018 appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 03/20/2019 01:15
Accenture’s newly released 2019 Technology Vision has found that digital technology is a strategic priority for every business. In our survey of more than 6 600 business and IT executives—including almost 600 insurers—94 percent of respondents said that the pace of technology innovation had either accelerated or significantly accelerated over the past three years. And yet,…. The post What’s keeping insurers from realizing their true potential? appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 03/19/2019 01:01
Workforce data has an impact on every person in the business. It follows that insurers should consult their employees when defining and following good data practice. This is not only an ethically sound approach, but it encourages employee buy-in. Seventy percent of the employees we surveyed said that if employers were to collect their data,…. The post Workforce data is everybody’s business appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 03/19/2019 01:01
“One’s destination is never a place, but a new way of seeing things.” ― Henry Miller It is well documented that IFRS 17 has been over 20 years in the making. It brings with it a significant change in the way insurers account for contracts. From an accounting and business perspective, it’s a new…. The post Mirror, signal, manoeuvre – An IFRS 17 delivery perspective appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 03/12/2019 01:01
Although data is becoming increasingly relevant, only 19 percent of the leaders we surveyed said that a C-level executive is accountable for ensuring that workplace data and technologies are used responsibly and ethically. However, 48 percent noted that they were planning to make a C-level executive accountable in the near future. Good data governance Is…. The post How insurers can take a strategic approach to data appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 03/05/2019 01:01
Every insurance organization has unique needs, and therefore a unique approach to the workplace data it creates and needs to collect in order to measure its performance. Accenture research has shown that attitudes to data differ from country to country. For example, people in the US are more concerned about the misuse of data than…. The post Who owns the workforce data in your insurance business? appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 02/27/2019 01:18
Insurance analytics technology enables insurers to gain insights from their data, which could identify short-term opportunities while also positioning them in the long term for additional opportunities from intelligent digital innovations. shows that North American insurers could reap a 10 to 20 percent improvement in profitability by investing in the broader suite of intelligent solutions,…. The post How insurance analytics powers profits for life & annuity carriers appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 02/26/2019 07:14
Organizational DNA is a largely untapped source of business growth. This term refers to the data generated by people and their work in an organization, which creates a pattern revealing the DNA of a business in real time. As discussed in my previous blog post, insurance leaders are beginning to recognize that vast amounts of…. The post Decoding organizational DNA starts with trust appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 02/21/2019 07:34
Every year, insurers impress judges and their industry peers with their inventive ideas at the Efma-Accenture Innovation in Insurance Awards. Three organizations have already earned monthly innovation awards, demonstrating customer-centric approaches to building technology solutions for the digital age. Customer expectations are changing in the insurance industry. Customers expect more—more convenience, more personalized services, more…. The post Three insurance innovations to watch right now appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 02/19/2019 07:05
As one of the oldest, most established and data-rich industries, the insurance industry has a wealth of internal data at its fingertips. It is accepted practice to use external data to help understand customers and make strategic decisions. However, if not prioritized at a strategic level, internal data and its intrinsic value can remain trapped…. The post Organizational DNA holds new, untapped opportunities for insurers appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 02/15/2019 07:07
Better medicines and healthier lifestyles means longer lives. The growing segment of the elderly is putting huge pressure on social, health and government systems. Responses are coming from all directions, with clear guidelines emerging in terms of what the elderly want and need. How are insurers responding? The UK’s Industrial Strategy sets out Grand Challenges, tying…. The post Most desirable features for silver-economy insurance appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 02/12/2019 06:57
Highlights Small commercial is at an inflection point with digital. Four of the top five carriers now have a direct offering. From 2010 to 2018, insurtech spend in small commercial spanned 50 companies, 111 deals, with a total of $1.5 billion invested, showing a compound annual growth rate of 41 percent. Introduction Small commercial insurance…. The post Ultimate Guide to Small Commercial Insurance appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 02/11/2019 05:25
To meet growing customer expectations for products and services that accommodate their individual needs, insurers should embrace personalization and make it central to their business model. Key strategies include choosing between an omnichannel or opti-channel approach to personalization, and extending a strategic framework to include an evolution and enrichment component. Choosing between omnichannel and opti-channel…. The post What approach will you take to insurance personalization? appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 02/08/2019 08:30
Silver-tech ecosystems are forming quickly as more companies recognise the opportunity to create solutions to address challenges faced by the growing aged population that make up the silver economy. Insurers can tap into or leverage these technologies, but there is also opportunity to create strategic partnerships and begin to position themselves within these ecosystems. These…. The post Silver economy tech ecosystems are forming – where can insurers play? appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 02/06/2019 08:37
This blog series has focused on the nexus between data, trust and relevance. We’ve looked at why life, pensions and investments (LP&I) providers need to build trust and we’ve talked about the huge upside for providers that can balance the risks and opportunities that data creates. Now, in this concluding blog, we’re zooming in on…. The post Four ways to maximise the value of customer interactions appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 02/06/2019 08:31
With 2019 well underway, it’s a good time to double-check diaries to make sure we’ve noted all the key events scheduled for the year ahead. One date I hope you’ve recorded is 24 June. This is when the winners of the 2019 Efma-Accenture Innovation in Insurance Awards will be announced. Now in their fourth year,…. The post It’s time for insurance innovators to share their successes appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 02/04/2019 09:52
As I noted in the first post in this series, there’s a clear appetite among consumers for personalized financial services. This applies equally in the insurance industry. In my last post we saw a snapshot of five insurers delighting their customers with personalized services. But what are some other directions we expect insurers to take…. The post Innovative personalized insurance services of the future appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 02/01/2019 05:57
The arrival of the silver economy has been the subject of discussion by governments, business, civil society and financial services companies for some time. Now that its impact is beginning to be felt, what’s been done about it and who is leading the race to provide for this segment? Swiss Re’s 2017 conference titled Next…. The post Silver economy innovation – insurers will leverage new tech for seniors appeared first on Accenture Insurance Blog .
Accenture Insurance Blog 01/29/2019 09:05
Ecosystem partnerships offer insurers huge opportunities to strengthen their businesses and drive up profits during the next five years. By combining their operational expertise, technology resources and industry knowledge with strategic partners, insurance providers can capitalize on the digital disruption that is sweeping all sectors of business. They can increase their capacity to innovate, access…. The post Insurers are often ill-prepared for ecosystem partnerships appeared first on Accenture Insurance Blog .

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