Asia offers case study for how digital insurers can harvest the social dividend
There’s a view that if you want to see what the economy and society of the future is most likely to look like, visit Asia. Debate if you like, but there can be little argument that the region is a …...
View ArticleRaising the bar on customer experience
In my first blog, I argued that in order to deliver the type of experience that today’s customers want, insurers will have to change radically the way they do things. Becoming a digital insurer, in...
View ArticleForget the deus ex machina, it’s the customer ex machina that is increasingly...
There’s just no getting away from it—our customers are becoming more digital. Yes, it’s true that traditional distribution channels (such as agents and brokers) remain important, but there is...
View ArticleSimple vs complex, and the battle to protect margins and markets
There’s one strategic issue that insurers should consider carefully as they begin to look at how to make the necessary transformation of their operating models and digital capabilities to become truly...
View ArticleThe digital-insurance revolution: A UK perspective (1 of 5)
This blog is my debut on the Accenture Insurance blog pages and I hope it will be a chance to offer a UK perspective on some of the issues that insurers are thinking about! I’ve been reflecting on the...
View ArticleThe dinosaur effect: UK insurance confronts the digital revolution in...
Last time, I talked a little about the vanguard position UK insurers have taken in the digital revolution compared with our European colleagues. As I hinted, I don’t think this necessarily positions...
View ArticleWhat’s stopping you from becoming a Digital Insurer?
Your agents are now all connected with smartphones and you’ve traded in notepads for iPads—awesome. Just digitizing something, however, does not make you a digital business. The digitizing process has...
View ArticleIndonesia is an opportunity—and a challenge—for (digital) insurers
Last November I visited Indonesia to speak at a conference on microinsurance. This large and exciting country itself presents many of the opportunities and challenges for insurers that we see across...
View ArticleData and the opportunity to become a digital disruptor
The digital-physical blur gives insurers the potential to seize the initiative, and become disruptors rather than the disrupted. The potential inherent in contextual, real-time data is really quite...
View ArticleBecoming a Connected Digital Insurer– Part 1
What does it take to be a connected insurer? Most consumers think of their insurance carriers only when it’s time to pay their premiums and make a claim. In the first instance, it’s with mild...
View ArticleWho owns the data?
Data privacy is being spoken and legislated about, but the full implications of the question are not yet fully recognized. Last week, I argued that insurers have to keep their eyes open and their wits...
View ArticleData, data, everywhere—but how to use it?
It’s not enough to have lots of useful data. Digital insurers need to define a whole new data value chain. Insurers have always benefited from a lot of data, and they are good collectors of historical...
View ArticleThree ways analytics can drive a high-performing agency network
Though carriers have made a great deal of investment into direct channels over the past decade, the agency distribution channel remains the dominant interface between consumers and insurance carriers....
View ArticleBecoming a Connected Digital Insurer– Part 2
Getting ready for more digital disruption In the previous post in this series, I looked at the technologies that will enable tomorrow’s connected insurers. I’d like to wrap up by pondering a few of the...
View ArticleCreate a data supply chain
To get the most out the huge volumes of new data, and become disruptors, carriers must start looking at data as a supply chain. As I noted last time, insurers it will be critical for insurers to...
View ArticleMicroinsurance provider MicroEnsure hits 10m customer mark
MicroEnsure’s success is founded on its customer-first focus and clever use of digital technologies. What can we all learn? I’ve blogged about the microinsurance market quite a few times, highlighting...
View ArticleBecoming a Connected Digital Insurer– Part 3
The Rise of the Internet of Things Following on from my last blog, where I discussed disruptive business models that are on the horizon for insurers, I now want to highlight one particular disruptive...
View ArticleBecoming a Connected Digital Insurer– Part 4
Telematics—a Game-changing Opportunity for Motor Insurers Barely a day goes by without us hearing about a motor insurer somewhere in the world launching a telematics pilot project. This is a technology...
View ArticleBecoming a Connected Digital Insurer– Part 5
Telematics—Obstacles to Mainstream Adoption In my previous post in this series I explored the factors that could drive widespread adoption of telematics in the motor industry. As of now, it accounts...
View ArticleBecoming a Connected Digital Insurer– Part 6
Telematics—Planning for Two Scenarios In the previous entries in this blog series, I looked at the drivers and obstacles to mainstream deployment of telematics in motor insurance. Now, I’ll consider...
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