Business challenge

The pressure to innovate and control costs has never been higher in the insurance industry. Executives navigate a stream of technical advances and determine which can provide return on investment, with low cost of ownership and data security - all while meeting changing customer expectations.

Solution approach

IBM industry platform solutions with insurance analytics, AI and cloud models can unlock the future. Innovate at lower cost, modernize and meet regulatory requirements.

Drive change in your organization
Insurance industry platforms and blockchain are changing the way insurers do business, respond to customer expectations and develop new product offerings. We provide the solutions and guidance to facilitate change and innovation, control costs and transform your business.

IBM Insurance Platform
Thrive in a disrupted marketplace. The IBM Insurance Platform brings together everything you need to reduce costs and develop true risk value. Engage new customers, optimize operations and scale on cloud.

Blockchain
Understand blockchain and become familiar with technology that helps automate smart contracts. Reduce administration in a secure, permissioned environment between two partners or within an insurance consortium.

No insurer wants to make the news about risk and security shortcomings. Inefficiency also poses risks to profit.

Insurers need to focus on basic security and a defense strategy to predict where the next attack could occur. No longer just a problem for the CSO, security is a key concern for the board and CEO. IBM cybersecurity solutions help predict cyberattack timing and scenarios, which allows you to provide answers to your stakeholders.

IBM Security
IBM Security solutions work together to prevent and repair the damage cyber attacks can impose on your enterprise.

Robotic process automation (RPA)
Automate and optimize any business process that has structured digital data by using RPA. Learn what RPA is and how it help insurers. 

Digital transformation is the order of the day

Everything from core modernization, cognitive underwriting and cloud acceleration to data center transformation is part of engineering competitive advantage for large and small insurers.

Financial crimes insight for insurance
Digitization means there is more opportunity for fraud but also better processes to counter it. Detect and prevent fraud to help your bottom line with analytics on a platform capable of learning.

Customer insight can drive engagement

Expand what you know about customers and how you can serve them with cognitive capabilities for sales and service including virtual agent, call center and mobile solutions.

Watson Expert Assist from IBM
Your data. Our AI. Give your team spot-on sales intelligence. Learn how AI is transforming insurance sales and scaling expertise to keep your sellers better connected to your customers.

Insights on Insurance

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

Prudential’s askPRU chatbot was designed to handle a high volume of commonly-asked questions. Within six months from launch, call volumes have fallen dramatically.

Transforming an industry, one automated action at a time

Six degrees of separation – how six different areas of tech are transforming the insurance industry.

Addressing a serious challenge in insurance today

Artificial intelligence allows insurers to compete and solve some of their biggest challenges.

Building trust in insurance through blockchain

At InsureTech Connect 2018, the power of blockchain was front and center in building trust in the industry. Our coverage of the IBM-led discussion here.

AAIS and IBM begin new chapter of blockchain in insurance

When it comes to blockchain in insurance, we may have just witnessed the perfect confluence of timing with people, process and technology – we explain.
 

Blockchain use cases continue to emerge

The application of blockchain in the insurance industry is just now starting to be explored. We take a look at some of the most suitable uses.

IBM and global insurer ERGO Group agree on new platform service

IBM and ERGO to jointly develop a system to manage closed books on the IBM Insurance Platform.

Insurers are catching up with a platform world

Platform models offer innovative products in a digital ecosystem and are disrupting traditional businesses.

Groupama and IBM find opportunity through disruption

IBM and the Italian insurer worked together to form a new digital insurance ecosystem.

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

Part 1 of our 4 part series on the digital transformation journey in the insurance industry, on data has become the newest national resource.

The platform-fueled insurance future

The new IBM IBV study, “The platform-fueled future: New ways to differentiate in a changing insurance industry,” details how platforms enable insurers to differentiate on what they do best: manage, mitigate and price risk.

How insurance platforms can accelerate new digital ecosystems

How will insurers continue to connect and build ecosystems that will enable new business models while creating great client value? We explore some answers.

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

The first edition in our four part series on the journey to digital transformation in the insurance industry, on data has become the newest natural resource.

The platform-fueled insurance future

The new IBM IBV study, “The platform-fueled future: New ways to differentiate in a changing insurance industry,” details how platforms enable insurers to differentiate on what they do best: manage, mitigate and price risk

How insurance platforms can accelerate new digital ecosystems

How will insurers continue to connect and build ecosystems that will enable new business models while creating great client value? We explore some answers.

Building trust in insurance through blockchain

At InsureTech Connect 2018, the power of blockchain was front and center in building trust in the industry. Our coverage of the IBM-led discussion here.

Making sense of big data in insurance

A recap of a panel discussion at InsureTech Connect 2018 covering the challenges and pitfalls big data presents to insurance.

IBM at InsureTech Connect 2018

A front row seat to the thriving insurance technology industry.

Our industry platforms are designed in collaboration with our clients and partners and intended to dramatically improve traditional business models using deep industry expertise and advanced technologies such as AI, cloud and blockchain.

—Bridget van Kralingen, Senior Vice President of IBM Industry Platforms

Trending

EXECUTIVE REPORT
Innovating Insurance: Lessons from the most successful insurance organizations.

WEBCAST
Compliance does not guarantee security. Learn from this webcast to build risk strategies that help you navigate new security and regulatory requirements for insurance companies.

Product finder

Platforms

The IBM Insurance Platform a cloud-based, security-rich platform that supports modernization across your business.

Insurance Platform for Group Benefits 
Operate group benefits insurance on a security-rich, integrated cloud platform that supports day-to-day operations. Use variable-cost and flexible business models and equip yourself with new technology to reach new markets.

IBM Cloud for Financial Services 
IBM Cloud for Financial Services is an integrated platform of APIs and a 3rd-party ecosystem to build, operate, and monetize next generation financial services apps.

 

Analytics Platform 
Collect, organize and analyze your data, uncovering AI-driven insights that improve business processes and ideas that drive game-changing outcomes while enabling compliance.

Weather
Leverage Weather Solutions for Insurance and strengthen policyholder relationships by providing risk prevention, beyond simple claims payment.

Blockchain for Insurance 
IBM Blockchain is the fully integrated enterprise-ready blockchain platform designed to accelerate the development, governance and operation of a multi-institutional business network.

Blockchain - Innovation for insurance 
Insurance companies are looking for ways to streamline operations, create cost efficiencies and build greater trust in a new digital ecosystem. One way they're doing that is by using blockchain technology.

AIG, Standard Insurance and IBM partner 
Learn how AIG and Standard Chartered are using IBM Blockchain to strengthen transparency, increase trust, and reduce cost and friction.

Core systems

Replace, modernize or transform the primary systems that process and issue insurance policies.

Mobile Claims Adjuster

with what they need to document damage, complete assignments and prioritize tasks using their iPad. Improve adjuster engagement and productivity while enhancing customer experience.

Core Insurance-on-Cloud

Core Insurance Platforms integrated with cognitive and non-cognitive assets, offered as-a-service in partnership with leading product vendors.

Cognitive Underwriting

Incorporate insights from unstructured data to make smarter decisions with IBM Cognitive Underwriting.

IBM Z for insurance

Insurers balance managing security risk, complying with changing regulations while delivering personalized digital experiences. The right infrastructure can simplify compliance, provide world-class security, lower costs and meet demand for innovation.

Risk management and security

Harness the AI capabilities of Watson to transform risk, compliance and financial management.

Cyber Security

IBM Security for Insurance delivers security intelligence, integration and expertise to safeguard your business and protect against cyber security threats.

Hybrid Cloud Security

IBM Hybrid Cloud Security for Insurance provides a unique set of capabilities including: IBM Promontory regulatory services, cloud security, Watson for regulatory compliance and managed services for security.

Robotics Process Automation

Implement technology without altering infrastructure and systems. IBM Robotics Process Automation gives any work process that is definable, repeatable and rules-based the ability to map out a business process and assign a software robot to manage the execution.

Cost Takeout

IBM experience in deploying global, security-enhanced infrastructures, integrating AI computing, IT transformation with financial and risk sharing techniques - translates to significant cost takeout.

Insurance Process Analyzer

Get a visual analysis of a process timeline across heterogeneous applications, management systems. Quickly identify process breakdowns, bottlenecks and talent mismatches.

Cognitive Outside Counsel Insights

Realize the cost savings associated with assessing and negotiating legal expenses for outside counsel services with IBM Cognitive Outside Counsel Insights, available both as a SaaS model or on-premises deployment.

Sales and customer engagement

Exceed customer expectations, operate more efficiently and find a new competitive edge.

IBM MobileFirst for iOS - insurance

Benefit from a strong and unique set of IBM mobile capabilities to create your competitive mobile insurance solution.

Cognitive Virtual Agent

Use the power of AI to provide robust self-service capabilities for insurance company clients, producers and staff. Whether answering policy, claims, service, billing or other inquiries, IBM Cognitive Virtual Agent offers a solution beyond the capabilities of chatbot and FAQ tools.

IBM MobileFirst for insurance

GTS Mobility Services launched its Industry as a Service portfolio. These services are tailored to how specific industries will consume IT services in the digital enterprise.

Natural Language Processing

Harness AI to improve an insurance company's ability to service customer needs and expectations by enhancing all interactions, providing timely, accurate, complete and consistent information and advice.

IBM Customer Insight for Insurance

Insurers can more effectively interact with customers, prospects and producers with efficient campaigns that retain, up-sell and cross- sell customer segments using propensity, timing and insight.

Sales Performance Management

Revolutionize legacy incentive compensation systems with Incentive Compensation Management to bring flexibility, speed and accuracy in the calculation, payment and reporting of compensation.

Watson Customer Engagement

Use the power of AI and Watson to create more connected, contextual and efficient policy-holder relationships.

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