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How insurance platforms can accelerate new digital ecosystems

New market pressures and technology-fueled platforms are reshaping industries at record speed, forcing companies to adapt within a new digital ecosystem. How will insurers continue to connect and build ecosystems that will enable new business models while creating great client value? Platforms enhance client value and can modernize and transform insurance. Insurers can use platforms to […]

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Insurance APIs: The new insurtech embrace

The insurance industry is rarely noted for innovation. The traditional insurance business model has been in place for centuries, founded on stability and consistency of customer relationships based on sustained trust. Indeed, in 2007 the Competitive Enterprise Institute concluded that, “Since…1959, the [insurance] industry has not introduced a single entirely new property and casualty insurance […]

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Invest, Prepare, and Collaborate – or Disconnect the Internet and Move back to 8” Floppy Disks

Unlike the US nuclear arsenal, which is still operated using 8” floppy disks (original 2014 story is here), all modern corporations rely on the Internet, websites and social media.  And while the 1970s technology makes that arsenal safe from hackers, today’s connected enterprises face ever growing diversity of digital risks, ranging from being held hostage […]

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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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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 […]

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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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The Risks of Digital Interconnectedness

I hope all readers had a quiet Xmas, Hanukkah, Saturnalia, Presentmas or whatever else you happened to be celebrating. This year, I started out wanting to write the usual overview post, but quickly discovered that the Random Thoughts posts I had been putting out over the course of the year covered pretty much all of […]

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Redefining boundaries: the global C-suite study

My colleagues in the IBM Institute for Business Value have been hard at work over the past few months, analyzing the responses of more than 5,200 interviews with C-Suite executives in 21 industries and more than 70 countries globally on the threats and opportunities facing their companies and industries. Last week, the 2015 Global C-Suite […]

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Random Thoughts: Some More Watching (BRICS)

Last week, I discussed some data details for the IBV customer retention study, “Capturing hearts, minds and market share“, looking at the countries with an English cultural background. To compare, today the same data for another group of countries with shared traits, type 2, i.e. high growth and low maturity, namely the BRICS countries.[1] Unfortunately, […]

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