insurance

Pushing the boundaries of policyholder experience

It is no secret that the entire insurance industry is realigning to be customer-centric. It was a central theme in almost every digitalization story at IBM Think 2019. Salesforce, an IBM partner, is a company that very well could be credited with driving the business in this direction. At the Think session, Pushing the boundaries […]

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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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LIMRA 2018 Group and Worksite Benefits Conference: The time for insurers is now

I have just attended the 2018 LIMRA Group and Worksite Benefits Conference and am writing this blog post on my way home. Insurance is an industry based on risk protection and it’s ironic that the venue for this year’s conference was the Mohegan Sun Casino Resort in Connecticut, the east coast version of Las Vegas. […]

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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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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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Prudential Singapore puts Watson AI to work to increase sales agent performance

Key Points: Prudential Singapore’s 4,600 financial consultants (FCs) serve as the insurer’s key customer touchpoints. Their ability to access and deliver prompt and relevant advice to customers at any time is vital Facing steady growth in customer and business volumes, Prudential recognized it needed an easily scalable and cost-effective solution to support a growing number […]

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AAIS and IBM begin new chapter of blockchain in insurance

Timing may not be everything, but in life and business it is a critical element for success. When it comes to blockchain in insurance, we may have just witnessed the perfect confluence of timing with people, process and technology. The American Association of Insurance Services (AAIS) is one of just two US insurance ratings and […]

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Cognitive technologies are the solution for underwriting

The first known practices of “insurance” are from hundreds of years BC when neighbors would all come together to rebuild a farmer’s barn lost to fire.[1] Or when the community started to store grain so that they would have food in years of famine. Although this part is not documented, I am sure somewhere along […]

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IICF Women in Insurance Forum: Inspirational and educational

On June 7, hundreds of women leaders in the insurance industry met in New York City to participate in the Insurance Industry Charitable Foundation (IICF) Women in Insurance Northeast Forum. Since 2013, this annual event has become the largest diversity initiative in the industry. The goal of this event is to create a more inclusive […]

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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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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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