Gray Matters: Addressing the loss of insurance industry knowledge as aging Boomers retire

Recently my respected friend and colleague, David Notestein, retired after a distinguished career on the company and consulting side. We have collaborated on white papers, client challenges and shared our thoughts about trends in the industry. With him goes insight and perspective that I have rarely seen matched during my career in the industry. It […]

Industry Insights

Three Ways Insurance Companies Can Modernize and Deliver Value-Added Services

In a previous blog post, I reflected on my own experience renewing an insurance policy.  To summarize the blog, the insurance industry is undergoing a customer experience led transformation. Customers are demanding more and the marketplace is changing with new entrants and expanded business models from incumbents. In order to lead and grow, insurance carriers […]

Industry Insights

How Market Forces are Disrupting the Insurance Industry

When I recently spoke with my property and casualty insurance provider about my policy, I did not end up renewing with my longtime provider. Instead, I conducted an online price and coverage comparison only to find a competitor offering comparable coverage at a 40 percent discount and made it very easy for me to sign […]

What Insurers Need to Do to Survive Today!

Empowered consumers, connected millennials, technological innovation, digital distribution, and new competitors – taken together, these represent potentially explosive dislocations in the insurance industry.  What do they mean for the future of insurance?  Some say that new competitive business models are dooming the insurance industry to reduced premiums and agent and customer disintermediation.  So, what does […]

Another Sneak Peek At Cyber Risk And Insurance

In two weeks, I will be at the IASA Annual Conference in San Antonio, Texas. I’ll be on Panel 674, talking about “True Customer Centricity” (and our 2015 study, “Capturing hearts, minds and market share“), but of course will also be discussing our new study, “Cyber and beyond”, which will be published during the conference […]

How to Create Industry-Leading Digital Customer Engagement

At Amplify 2016, I attended several insurance-focused sessions, including hosting an industry dinner. I came away from the conference with three key observations around digital customer engagement: Insurers are eager to use mobile to initiate and sustain industry-leading digital customer engagement. The trick for insurers is seamlessly merging a customer‘s various digital and physical interactions […]

New IBM Insurance Blog Site

As you will have noticed, our IBM Insurance blog has moved once again, back to an URL: You can still reach the old IBM Insurance blog under   The moved content works, but there are still some small kinks to work out, so no new content this week. For next week, another […]

Sneak Peek: Cyber Risk and Cyber Insurance

The release of our upcoming insurance study on the risks of digital interconnectedness, a.k.a. cyber risks, is just 5 weeks away; time to give our readers a first peek at some of the data and/or conclusions. For the study, we surveyed 800 insurers and 1,000 non-insurance companies, i.e. insurance clients – although not necessarily clients […]

Driving Forces for Disruption

[This is the second of a two-part post on the driving forces for disruption in the insurance industry, first part here] According to Statista, the value of gross premiums generated by the insurance industry amounted to approximately 4.78 trillion U.S. dollars in 2014. At the core of this we find a nearly unchanged business model […]

At The Brink Of Disruption?

When Clayton Christensen first published his theory of «Disruptive Innovation» in Harvard Business Review in 1995 and later in his book of 1997 “The innovator’s dilemma: when new technologies cause great firms to fail”, many understood him to say that new technology was the disruption factor. In his follow up book of 2003 “The innovator’s […]

Cognitive Computing: A Natural Fit for Personalized and Engaging Interactions

As pressure grows on insurance marketers to produce quantifiable results, they are reassessing how they create appealing products and engaging experiences to attract customers in the constantly evolving digital landscape. I recently had the opportunity to facilitate a roundtable event with insurance marketing executives, and three common themes emerged. First is the imminent spike in […]

Evolve or Die! How Insurance is Being Disrupted!

Connected millennials, empowered consumers, technological innovation, digital distribution, and new competitors — these are all forces for change in the insurance industry. But, what do they mean for the future insurance services? Buckle up! It’s likely to be a bumpy ride! First, the forces for change transforming the insurance industry are likely to translate into […]

The Price of Parity: Why Insurers in US are Losing their Mojo

Why US insurers are loosing their mojo? If there is one word that is inescapable from the political discourse, then that is ‘inequality’. Politicians spanning the ideological spectrum argue why inequality is responsible for all the ills of the world and how their ideas can pave way for a more equitable society. Well, the rhetoric […]

Innovating Insurance

A few weeks ago, I mentioned an upcoming IBM Institute for Business Value study, and now it is available: Innovating insurance: Lessons from the world’s leading innovators. You can check it out here. Insurance has traditionally been slow to innovate. Or if you prefer a more liberal interpretation of innovation – as we did in our […]

Millennials: The Insurance Customer Has Changed, Will You?

What is the single largest force disrupting insurance?  Millennials! They’re empowered, connected, and leading the charge for change! So, who are they? What do they want? Why do insurance companies have to change to serve them?   Most definitions say Millennials (aka Generation Y) are young adults from ages 18 to 34. They account for […]