Christian Bieck

How can insurers stay relevant when insurance ceases to be mandatory?

Insurance and insurers have been around for millennia, with modern insurance starting in the U.K. more than 300 years ago. For much of this time, incumbent insurers have been protected from competition by four big barriers: regulation, the law of large numbers, the trust nature of insurance, and, last but not least, the inertia of […]

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The platform-fueled insurance future

As announced in my preview post last week, the IBM Institute for Business Value has just released our main insurance study for 2018, titled “The platform fueled-future: New ways to differentiate in a changing insurance industry.” This study is based on a global survey of 1,000 insurance executives, with questions centering on insurance platforms about […]

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Sneak peek: Is the industry ready for insurance platforms?

Next week, we will be releasing a new IBM Institute for Business Value study on the insurance industry. Titled “The platform-fueled future,” we surveyed 1,000 insurers across 35 countries on various questions of interest around insurance platforms – on their disruptive impacts, benefits, downsides and how much or how little participation they are envisioning. We […]

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Insurtechs – friend or foe of insurers?

How often have you heard the thought leaders claiming “this time it is different – this time, the insurance industry is REALLY being disrupted.” The latest chapter is the insurtech business – flexible, young startups, using innovative technologies and cool new gadgets. They often find and exploit inefficiencies in the insurance value chain, and their […]

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Is data gold, or your kryptonite?

If you are an insurer, ask yourself this question: Are your customers sharing data with you? (If you aren’t you probably are a customer of insurance, so just ask it the other way around.) Most likely, the answer is “not if they don’t have to”. Why is that the case? Is it a privacy concern? Don’t […]

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Looking into the crystal ball

Are you interested in knowing the future? I certainly would, the more accurate, the better. (Next week’s winning lottery numbers, anyone?) Unfortunately, as the old Danish proverb goes, “Prediction is very difficult, especially about the future.” My colleague Mark McLaughlin and I gave it a shot anyhow, and you can now read the result in […]

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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 […]

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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 […]

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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 […]

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Random Thoughts: Things to Read by IBV

For our Random Thoughts post today, I thought I’d summarize interesting reads my colleagues at IBV published over the last year (and some of mine, too 😉 ). Let’s start cross-industry: About a year ago, Carolyn Baird showed the “Myths, exaggerations and uncomfortable truths” about millennials in the workplace. Not all conventional wisdom about that […]

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Doctors, Insurers and Trust

  Via InsuranceThoughtLeadership.com, I ran across an interesting article on “Why Doctors Don’t Trust Insurers”. According to a (U.S.) survey by ReviveHealth Payor Trust Index, no insurer scored higher than 60 points out of 100 [1], with the average being 58. What are the reasons for this low trust? According to the study, the main […]

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Random Thoughts: The Blockchain

For those who are not sure what a blockchain is: simply put, it is a distributed electronic ledger based on cryptographic principles. While is was developed as the ledger for the cryptocurrency Bitcoin, it is really separate from any currency – for example, it can be used as a ledger to notarize land transactions. [1] […]

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