Industry Insights

Leading insurers capitalize on the expanding drone market

Seven million small drones, also known as unmanned aerial vehicles (UAVs), could fill the sky by 2020 and as many as 2.7 million of them will be used for commercial purposes according to the Federal Aviation Administration (FAA). Industries ranging from agriculture to infrastructure are now implementing drones in an array of applications and methods […]

Industry Insights

Digitalization and the changing insurance customer experience

Customers are reshaping the insurance business experience today. In the insurance industry and also in general, they rely on gathering information from the internet. Specific to insurance, whether they’re deciding to buy a new policy or switch insurers, more are doing their research online than ever before, and the number continues to grow. Also, a […]

InsurTech

Trust and transparency with GDPR

In case you have not heard, General Data Protection Regulation, commonly referred to as “GDPR,” is now in effect. That means that individuals residing in the EU will have more control over how their data are handled. Companies throughout the world have spent a considerable amount of time preparing their systems and procedures, preparing their […]

New leadership for insurance reinvention

“Your architecture is how you build trust with your customers.”  This quote from Bridget van Kralingen, IBM Senior Vice President of Industry Platforms, from the Reinventing Financial Services event, captures what the day was about. On May 22, about 100 C-level executives from leading financial services institutions joined IBM for an all-day event on defining […]

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Leading insurers capitalize on the expanding drone market

Seven million small drones, also known as unmanned aerial vehicles (UAVs), could fill the sky by 2020 and as many as 2.7 million of them will be used for commercial purposes according to the Federal Aviation Administration (FAA). Industries ranging from agriculture to infrastructure are now implementing drones in an array of applications and methods […]

Continue reading

Digitalization and the changing insurance customer experience

Customers are reshaping the insurance business experience today. In the insurance industry and also in general, they rely on gathering information from the internet. Specific to insurance, whether they’re deciding to buy a new policy or switch insurers, more are doing their research online than ever before, and the number continues to grow. Also, a […]

Continue reading

Trust and transparency with GDPR

In case you have not heard, General Data Protection Regulation, commonly referred to as “GDPR,” is now in effect. That means that individuals residing in the EU will have more control over how their data are handled. Companies throughout the world have spent a considerable amount of time preparing their systems and procedures, preparing their […]

Continue reading

Dig|In 2018: Digital transformation starts and ends with the customer

The Digital Future of Insurance Conference, otherwise known as Dig|In, held in Austin, Texas from May 14-16 addressed many tough issues facing the industry. With session topics such as “Is UBI Dead?”, and “Is the Industry Ready for Touchless Claims?”, the largest technology conference in the insurance industry focused on the issues and trends that […]

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Blockchain for insurance delivers trust: A use case with Marsh, ACORD and ISN

Business agreements among multiple parties involve a lot of moving parts – a recipe for friction. With blockchain, aka distributed ledger technology, insurers and insureds can permission, validate and trust each other, sans the friction. In this case study Marsh, ACORD and ISN created one of the first instances of a commercial digital proof of […]

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4 Technology changes help insurers become true risk partners

Mark McLaughlin, Global Insurance Director at IBM, was interviewed by A.M. BestTV at the Meeting of Reinsurance Officials 2018 in Montreal. A.M. BestTV delivers A.M. Best’s coverage of the insurance industry in a television-quality format. In this interview with John Weber of Best TV, Mark describes how insurers and insureds benefit from four main changes […]

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Will autonomous cars drive auto insurers away?

In the last year, we’ve seen a number automobile manufacturers take big steps towards releasing widely available, fully autonomous vehicles. This has led to speculation that we will see a massive decrease in the number of automobile accidents, and this also has led to the big question in the industry, do we need traditional auto insurance if […]

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Why you need to know about IBM’s Elderly Care solution

IBM has recently partnered with Malteser International (a German emergency services company) to equip over 150 apartments with the IoT sensors and cognitive computing that keeps elderly citizens safe in their homes. When the sensors detect emergencies (e.g., water leakage) or abnormal behavior (door left open during normal sleeping period), emergency services are called to […]

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IBM and global insurer ERGO Group agree on new platform service

IBM has agreed with ERGO Group to jointly develop on the IBM Insurance Platform a system to manage closed books of traditional German life business. With over 40 million customers and operating in over 30 countries, ERGO is one of the largest insurance groups in Europe and owned by one of the global market leaders, […]

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Insurers are catching up with a platform world

Platform models that offer innovative products in a multi-partner ecosystem are disrupting traditional businesses. With customers getting tailored products and instant services from other industries, how will forward-thinking insurers beat new entrants? Insurers face two challenges today: Without frequent customer interactions, insurers lack ways to build rapport and meet customer needs at the point of […]

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5 Lessons for CDAOs on successful data strategies

New technologies, changing demographics and channels, and increasing consumer expectations have opened the floodgates for new insurance entrants. Traditional business models are under strain as insurers look to increase customer interactions as trusted risk advisors and partners. All this, while legacy systems, operational inefficiency and complex regulations deter effective, timely transformation. This seems to be the […]

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Building Ana the insurance chatbot: Part 3 of 3 – Front end and UX design

This is the third and final part of a series which describes the design and implementation approach used to build a Watson Conversation data integrated Chatbot with the IBM Cloud. (Parts 1 and 2 here and here). In this post, I explain about design thinking and the front end design and development approaches used in […]

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Building Ana the insurance chatbot: Part 2 of 3 – Behind the scenes

This post is the second in a series taking a deeper look at the design and implementation of a cloud based Chatbot, built using Watson Conversation and IBM Cloud. To be familiar with the contents of this post, it is strongly recommended to read the first post in this series, “Getting Started with Watson Conversation […]

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Groupama and IBM find opportunity through disruption

As an insurance provider, you are most likely seeing your industry change drastically around you. Your clients look for a level of stability and constancy in their providers and disruption and change are not always a welcomed or embraced. With or without an industry consensus, the insurance landscape is going through some fundamental changes. Technology, […]

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