Digital Transformation in Commercial Lines: A Frenzy of New Activity is Underway
Since 2020, there have been endless discussions around COVID-19’s impact on customers’ needs and how the insurance industry adapted swiftly to unprecedented times. Although the pandemic helped accelerate innovation in some areas of the business, many commercial lines insurers also came to realize how unprepared they were for the digital...
What are Insurers’ Top Talent Objectives in the Post-Pandemic Era?
The pandemic has altered life in so many ways over the past two years. And one change that will likely stick around for years to come is the new workforce dynamic. The competition to attract top talent is as fierce as ever as industries contend against the Great Resignation, the...
Tags: Talent
Digital Transformation Acceleration Relies on Core Systems
In today’s digital-first environment, insurance companies absolutely need state-of-the-art systems to support every aspect of their businesses. These core systems that support policy, billing, and claims functions have been foundational to the digital transformation of insurers and MGAs for years and continue to accelerate their transformation journeys today.
It’s Time for Insurers to Reimagine the Digital Payment Experience
What makes a true digital payment experience in insurance? Although the past few years have been characterized by rapid digital payment options, the real game-changer has been the focus of market leaders to embrace the transformation of the actual payment experience – both for premium and claim payments.
Tags: Claims, Payments
2022 Channel Strategies: P&C Agencies are Ready to Break from the Status Quo
The distribution landscape is evolving, and retail agencies and brokers are rethinking their channel partner strategies just as carriers and others across the distribution landscape do the same. Although carriers will always remain underwriting partners, more agencies are exploring new channel partners in the distribution ecosystem to ultimately reach customers...
P&C Personal Lines Insurers: Viewing Key Strategic Initiatives Through A New Lens
Personal lines insurers are no stranger to widespread digital transformation and innovation, having been at the forefront of these changes for the past decade. When the pandemic hit in 2020, personal lines insurers responded in different ways.
How are P&C Commercial Insurers Progressing with Their Strategic Initiatives in 2022?
When the pandemic hit in 2020, many property and casualty commercial insurers had to pause, stabilize, and reprioritize their digital transformation plans amid lower business volumes, economic lockdowns, and an uncertain financial environment. But that all changed in 2021 as commercial insurers pressed the pedal to the metal to accelerate...
Five Predictions for Property and Casualty Insurance in 2022
The insurance industry faced a sobering wake-up call when the pandemic exposed just how unprepared insurers’ digital capabilities were in a crisis. But, in the past two years – particularly in 2021 – the industry has accelerated its digital development, making significant leaps forward in technology investments, workforce evolution, and...
Insurance Innovation: A Look at the Most Profound Changes From the Past 20 Years
Many of the innovations that drive the insurance business today were only figments of the imagination just two decades ago. Advancements in data, analytics, and technology have transformed every aspect of the industry, some more significantly than others.
Progress and Pause: Transformational Tech is Changing in Personal Lines
Policyholders faced innumerable challenges within the past two years, resulting in unprecedented changes to their consumer behavior. Personal lines insurers responded swiftly to meet insureds’ new and evolving needs. They went all-in on digital self-servicing capabilities for customers, agents, and employees, but recent market activity suggests that insurers’ top technology...
