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Here, There, and Everywhere: AI in P&C Insurance

November 14 2017 | Mark Breading

Artificial intelligence (AI) is a term for a very broad array of technologies that mimic human cognition and activities; they can also discover patterns and relationships that go beyond anything humans are capable of. Depending on your view, AI will either be a great boon to human society and business,...

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The Life Insurance Claims Experience: Room for Improvement

November 01 2017 | Mark Breading

Recently, I assisted a relative after the passing of her spouse. There were four life insurance policies from three different companies – with claims to file and distribution options to evaluate. Understanding the terms of the policies and the possible distribution choices was a challenge and required advice from a...

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Blockchain in Insurance: What’s the Real Story?

October 31 2017 | Mark Breading

“Blockchain will transform the world” ... “Distributed Ledger Technology represents the biggest change to the business world since the adoption of double-entry accounting centuries ago” ... “Every industry will experience upheaval as blockchain becomes the foundation of the new business environment.” This type of hyperbole is common today when discussing...

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Will Bots Take Over My Insurance Job?

October 24 2017 | Mark Breading

As artificial intelligence advances by leaps and bounds, one of the prominent questions in insurance and other industries is: Will bots take over my job? The fear of an AI revolution is growing and is real.

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Innovation in Action: Advanced Telematics and Artificial Intelligence

October 12 2017 | Karen Furtado

Solution providers are quickly advancing innovative approaches to the next generation of emerging technologies that are impacting both insurers and policyholders. SMA has acquired a unique historical view of how solution providers are innovating within insurance through our annual SMA Innovation in Action Awards – and we have seen how...

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The Customer Service Dichotomy in the Digital Age

October 11 2017 | Mark Breading

Customer service is rapidly shifting to self-service, digital, and mobile, with the next wave including chatbots, natural language processing, and AI/machine learning. This new era of customer service promises to be more efficient, more effective, and even fun in some cases.

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InsurTech and Personal Lines: Threat or Opportunity?

October 10 2017 | Mark Breading

InsurTech is one of the hottest topics of conversation in the insurance industry, with executives and professionals of all types joining in. The InsurTech startup movement began in earnest about three years ago and is still trending upward in terms of startups, funding, and activity.

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Life Isn’t a Bowl of Cherries – It’s Customer Analytics

October 09 2017 | Karen Pauli

In 1931, Ethel Merman sang a song titled “Life Is Just a Bowl of Cherries.” The phrase “life is a bowl of cherries” carried on – meaning that life is carefree. The L&A industry certainly can’t adopt this phrase because generating profit and growth has been significantly challenging since the...

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InsureTech Connect 2017: The New Face of Insurance

October 05 2017 | Mark Breading

The InsurTech movement is in full swing, and one need look no further than the ITC2017 event for evidence. The event itself mirrors the trajectory of the most successful InsurTechs – coming out of nowhere to achieve success virtually overnight – at least overnight in the context of the insurance industry.

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Innovation Maturing Into Meaningful Impacts

October 03 2017 | Karen Furtado

Maturity in innovation means the innovative approaches taken by companies throughout the ecosystem are becoming more comprehensive and systematic. SMA has acquired a unique historical view of innovation in insurance through our annual SMA Innovation in Action Awards – and we have seen how it has changed over the six...

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