Viewing entries written by Mark Breading
P&C Claims: 4 Themes for the Future
Property and casualty claims is already one of the most dynamic, exciting, and important areas of the insurance business. Whether we are considering personal or commercial lines, or the auto, property, or casualty/medical areas, there is a lot going on.
P&C Distribution: Everything Old is New Again
There is a great deal of activity afoot in the P&C distribution space. New models are being explored. Old models are being upgraded for the digital era. In a recent SMA research report, I identified eight different models or options for insurers to consider.
P&C Distribution: Blending Traditional and New Models
A great deal of activity is underway by insurers investigating or implementing new distribution channels. For every line of business across P&C, there are compelling reasons to expand distribution beyond the tried and true channels. This is not to say that agent/broker channels or the direct distribution models are less...
Which AI Technologies Are Most Valuable for P&C Personal Lines?
Artificial intelligence technologies are everywhere. The great leap forward in AI over the past decade has come along with an explosion of new tech companies, AI deployment across almost every industry sector, and AI capabilities behind the scenes in billions of intelligent devices around the world.
P&C Insurers Shift Course as the Pandemic Continues
When will the COVID-19 pandemic end? Will it end? P&C insurers, like all other business sectors, are faced with a time of unprecedented uncertainty. There are always multiple external factors to consider when developing strategies and adjusting ongoing plans.
Reflections on InsurTech and the Pandemic
Much has already been written about the implications of the pandemic, the related economic activity, and how they will affect the InsurTech movement. As usual, there are a wide range of opinions. Will InsurTech be one of the casualties of COVID-19? Or will the dramatic change to work and life...
Transformational Technologies in P&C During the COVID Era
Technologies like machine learning, the IoT, RPA, and Natural Language Processing (NLP) were hot topics in P&C insurance before the world was turned upside down in 2020 due to the pandemic. These and many other “transformational” technologies have great potential for insurers in the rethinking and optimization of distribution, underwriting,...
New Digital Communications in Insurance: Options for Prospects, Producers, and Policyholders
The options for digital communications keep expanding. Insurer’s mobile interactions with prospects, producers, and policyholders have become common, while methods like e-mail, web portals, and even fax are extensively used. Now, there is a whole new world of messaging platforms, chatbots, business texting, voice assistants, and more.
Biggest Insurance Disruptor: Lemonade or Tesla?
I’ve never been a big fan of the term disruption. I believe that in the InsurTech world, a majority of the startups are partnering with incumbents to enable industry transformation. They are catalysts for change, to be sure. But few are truly turning the industry on its head.
Digital Communications in Insurance: Managing the Expanding Options
Most P&C insurers have gradually expanded their options for digitally communicating with prospects, policyholders, producers, and employees. As the industry moves beyond the web, portals, and email, there is a growing recognition that a whole new world of digital communications options can be applied in insurance.