cloud

How cloud adoption is transforming the insurance industry

Many insurance providers are now at an inflection point in their cloud transformation journey. Going beyond a “lift and shift” strategy with Infrastructure as a Service and focusing on Platform as a Service (PaaS) are the next steps for insurers in gaining cloud maturity. Applications hosted in the cloud cost less to maintain, are easier […]

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Doing more with data means doing more with storage in the insurance industry

Despite the notion of insurance as a stodgy business, today’s insurance industry is arguably in the process of reinvention.  The insurance industry is hitting a developmental milestone—triggered by rapid technology and cultural changes including: Chips (e.g., GPUs) Smartphones Social media Public cloud Artificial Intelligence (AI)/Deep Learning (DL) Sensors and IoT devices, including bots, drones and […]

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Hot insurance sessions at IBM Think 2019

With such a great lineup of education and activities for insurance leaders at IBM Think from February 12-15  in San Francisco this year, planning your agenda will be tough. While there is a great array of insurance-specific sessions from which to choose, the sessions below are highly recommended. These sessions include insurance leaders in auto, […]

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Insurers accelerate innovation with the cloud

Tomorrow’s insurance industry disruptors will marry the strengths of a digital business with the power of endless digital intelligence. They will set their sights on going deeper and wider into their own data as well as third-party data–structured and unstructured, text-based or sensory. They will shorten the cycles between what they can learn from data […]

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Digital transformation in the insurance industry: Part 1 – Data is the new natural resource

Today, with the help of sensors, drones and mobile devices, we are are generating unprecedented amounts of data that create both opportunities and pitfalls for the insurance industry. As data continues to become more ubiquitous and grow exponentially, insurers must establish a sustained capability to effectively use this data to remain competitive. Whilst companies have […]

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Four 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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Insurance’s Future with Big Data on the Cloud

The speed of the unrelenting technology evolution now underway, as well as the impact it is having on business can’t be overestimated. Even for those of us keeping a pretty close eye on the ‘play-by-play,’ the fusion of mobile, Big Data, cloud and analytics – all moving quickly by themselves as major technologies – still surprises. […]

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Industry 4.0 and Risk – Part 2

Last week, I described the interconnected world of Industry 4.0 and the risks it presents: cyber risks, business interruption risks, reputation risks, macro environment risks and skill/talent risks. What are companies already doing to mitigate these risks, and where and how do insurers come in? Point solutions in risk mitigation Just as the mentioned risks […]

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Industry 4.0 and Risk – Part 1

We live in an age of unprecedented interconnectedness. As consumers, we are seeing and benefiting from this every day, whether it is gathering information on the most esoteric of topics, online shopping at one o’clock in the morning, or communicating instantly with friends or colleagues all over the world. But interconnectness is also changing the […]

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We want our added value from insurance. Mobility makes it happen.

Of all the bills I pay for my own household, I’m still staggered that the insurance bill is the largest component of household spend for which I get nothing in return in the moment. Don’t get me wrong. I do realize how the insurance business works, of course. But still… I’m increasingly scratching my head […]

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How to Integrate Cloud, Mobile, and Analytics for Insurance Success

At InterConnect 2015, I attended several insurance-focused sessions, including co-hosting an industry luncheon and co-facilitating an insurance industry round table focused on “customer-activated operations.” I came away from the conference with three main observations: Insurers are still reticent to get in the cloud. Insurers are eager to develop mobile offerings that engage customers. Insurers are […]

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‘Tis the season for counter fraud and security…again.

I’m sure I am not the only one going line-by-line through my credit card statements when they arrive this time of year. I’m looking for that $8.29 charge from somewhere that looks innocuous and routine, but reveals I have a breach. And, trends seem to show similar levels of fastidiousness are required now around security […]

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