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.

Insurance blog

Groupama and IBM find opportunity through disruption

As an insurance provider, you are most likely seeing your industry change drastically around you. Your clients look for a level of stability and constancy in their providers.
Written by: IBM Staff

IBM partners with MetLife and Majesco on data driven insurance platform

The IBM Insurance Platform on the IBM Cloud and using blockchain, IoT, analytics and IBM Watson, provides both enhanced service to insurers existing customers, as well as gives new insight and data to find new ones.
Written by: IBM Staff

IBM and global insurer ERGO Group agree on new platform service

IBM and ERGO Group to develop a system on the IBM Insurance Platform for closed book traditional German life business
Written by: Stefan Riedel

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.
Written by: Patrick Sheridan

Insurers are serious about AI-powered chatbots

Chatbots, or Virtual Assistants (VA’s) are no longer so uncommon as to cause consumers to do the virtual equivalent of gawk or an awkward stumble when they come across one.
Written by: Andre Burke

Blockchain use cases continue to emerge

Simply put, blockchain enables a network of parties who are transacting business to be able to all understand the who, what, when and where of any transaction by having a common record of each aspect of the “deal.”
Written by: Craig Bedell

Blockchain use cases continue to emerge

Simply put, blockchain enables a network of parties who are transacting business to be able to all understand the who, what, when and where of any transaction by having a common record of each aspect of the “deal.”
Written by: Craig Bedell

A blockchain use case with Marsh, ACORD and ISN

Business agreements among multiple insurance parties involve a lot of moving parts – a recipe for friction.
Written by: Annap Derebail

IBM partners with MetLife and Majesco on data driven insurance platform

The IBM Insurance Platform on the IBM Cloud and using blockchain, IoT, analytics and IBM Watson, provides both enhanced service to insurers existing customers, as well as gives new insight and data to find new ones.
Written by: IBM Staff

IBM and global insurer ERGO Group agree on new platform service

IBM and ERGO Group to develop a system on the IBM Insurance Platform for closed books traditional German life business.
Written by: Stefan Riedel

A blockchain use case with Marsh, ACORD and ISN

Business agreements among multiple insurance parties involve a lot of moving parts – a recipe for friction.
Written by: Annap Derebail

Groupama and IBM find opportunity through disruption

As an insurance provider, you are most likely seeing your industry change drastically around you. Your clients look for a level of stability and constancy in their providers.
Written by: IBM Staff

Insurers are catching up with a platform world

Platform models that offer innovative products in a multi-partner ecosystem are disrupting traditional businesses.
Written by: Noel Garry

IBM and global insurer ERGO Group agree on new platform service

IBM and ERGO Group to develop a system on the IBM Insurance Platform for closed books traditional German life business.
Written by: Stefan Riedel

The future with the new IBM Insurance Platform

Insurers can take advantage of a vertical industry platform that offers a complete end-to-end insurance environment as-a-service for both customers and distributors.
Written by: Mark McLaughlin

Leading insurers capitalize on the expanding drone market

Seven million small drones, also known as unmanned aerial vehicles (UAVs), could fill the sky by 2020.
Written by: IBM Staff

Insurers are serious about AI-powered chatbots

Chatbots, or Virtual Assistants (VA’s) are no longer so uncommon as to cause consumers to do the virtual equivalent of gawk or an awkward stumble when they come across one.
Written by: Andre Burke

Digitalization and the changing insurance customer experience

Customers are reshaping the insurance business experience today. In the insurance industry and also in general, they rely on gathering information from the internet.
Written by: Nischal Kapoor

Insurers are serious about AI-powered chatbots

Chatbots, or Virtual Assistants (VA’s) are no longer so uncommon as to cause consumers to do the virtual equivalent of gawk or an awkward stumble when they come across one.
Written by: Andre Burke

Blockchain use cases continue to emerge

Simply put, blockchain enables a network of parties who are transacting business to be able to all understand the who, what, when and where of any transaction by having a common record of each aspect of the “deal.”
Written by: Craig Bedell

Leading insurers capitalize on the expanding drone market

Seven million small drones, also known as unmanned aerial vehicles (UAVs), could fill the sky by 2020.
Written by: IBM Staff

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. 
Written by: Amelia Ross

New leadership for insurance reinvention

On May 22, about 100 C-level executives from leading financial services institutions joined IBM for an all-day event on defining what a future-ready enterprise is, and how to build it.
Written by: Stephen Mortefolio

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.
Written by: IBM Staff

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

American International Group, Inc.

AIG uses blockchain for smart insurance contracts

AIG, IBM and Standard Chartered Bank partnered to develop the first multinational smart contract insurance policy.

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

EXECUTIVE REPORT
Based on 12,000 consumers surveyed in 24 countries, this study shares the keys to better customer retention.

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.

Solution finder

Blockchain

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

• Blockchain for Insurance
Blockchain is doing for transactions what the internet did for information. Create efficient processes with one partner or an insurer consortium using distributed ledger technology that records the history of transactions among clients, partners and suppliers.

Break the traditional insurance mold

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 of the ways they're doing that is by using blockchain technology.

See how it works

• AIG, Standard Insurance and IBM partner to create a multinational insurance policy

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

Watch the video

• Building trust in insurance: Blockchain to the rescue

Blockchain technology has the potential to help restore trust in the insurance industry, which is still recovering from the global economic crisis of 2007-2008.

Analytics Platform

Use advanced analytics techniques to transform your data into valuable customer insights.

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

Learn more

• Enterprise Content Management - ECM
Put business content to work to improve customer insight, manage risk and fraud with better claims processing and compliance and create new business opportunities. Learn more.

Business Innovation

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

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

• IBM Cloud for Financial Services
Get the building blocks for developing financial services applications. The IBM Cloud for Financial Services is an integrated platform of
developer tools, APIs and a 3rd-party ecosystem to build, operate, and monetize next generation financial services apps.

Learn more

• Watson IoT
Take insurance policyholder protection to the next level with the Internet of Things. Provide holistic protection personalized to the consumer to shift the very nature of risk. Learn more.

• Weather
Leverage Weather Solutions for Insurance and strengthen policyholder relationships by providing risk prevention, not simply claims payment.

Core Application Improvement

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

• Mobile Claims Adjuster
Provide your field-based adjusters everything they need to document damage, complete assignments and prioritize tasks using their iPad with the IBM iOS mobile application, Mobile Claim Adjuster. Improve adjuster engagement and productivity while enhancing customer experience.

Core on Cloud

Cloud computing speeds business transformation. Cloud technologies can help you develop services and act on insights ahead of the competition.

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

IBM Z Systems for Insurance

IBM mainframe technology builds and maintains trust with unmatched reliability, security and speed.

• IBM Z Systems for insurance
Trust is the new currency – and trusted companies outperform others by nearly 3x. To be trusted, you need to protect all data, have total visibility into transactions, develop with agility and deliver smarter experiences with AI insights. IBM Z is the world's most trusted platform for the digital economy.

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

• How IBM Z helps insurers
Cyber security is a top concern for insurance companies in the digital economy. Customers demand transparent, secure transactions – every time. Watch Mark McLaughlin, Strategy and Solutions Leader for IBM Global Insurance, discuss how IBM Z can help insurance companies better protect consumer data, unleash value from data insights using machine learning and enhance customer offerings with APIs.

• Financial Crimes Insight for Insurance
Identify fraud, waste and abuse with the frameworks, tools, processes and skills needed to detect and prevent fraud, decrease losses and reduce operational costs.

Risk & Compliance

Harness the cognitive capabilities of Watson to transform your risk and compliance management.

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

Security

IBM Security solutions work together to stop cyberattacks from damaging your organization.

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

Performance Management

Redefine software innovation with advanced tools and methodologies from IBM.

• Cost Takeout
IBM's experience deploying global, security-enhanced infrastructures, integrating cognitive computing, IT transformation with financial and risk sharing techniques - translates to significant cost takeout.

• General Data Protection Regulation
Prepare for the General Data Protection Regulation (GDPR) with a comprehensive IBM offering that is delivered in multiple ways but designed to address the many exposure fronts that GDPR presents, including governance, people and communication, processes, data, security and privacy.

• 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.

• Insurance Process Analyzer
Get a visual analysis of a process timeline across heterogeneous applications, management systems and quickly identify process breakdowns, bottlenecks and talent mismatches.

• Robotics Process Automation
Implement technology quickly and efficiently without altering existing 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 of that process.

Customer Insight

Expand what you know about customers with cognitive capabilities for sales, virtual agent, call center and mobile solutions.

• IBM Customer Insight for Insurance
Enable insurance companies to effectively interact with customers, prospects and producers though efficient interaction campaigns that retain, up-sell and cross-sell customer segments by propensity, timing and insight.

Distribution

Simplify calculation rules and complex sales hierarchy management. Gain transparency into even the most challenging compensation situations.

• 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.

 

Customer Engagement

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

• IBM MobileFirst for iOS - insurance
Benefit from strong and unique set of IBM offerings for mobile in insurance with a depth and breadth of mobile capabilities that others don't provide.

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

• Connected Cognitive Insurance (CCI)
Deliver insurance value to insureds, embedded in their day-to-day lives at the Point of Risk to help them solve and avoid risk exposure problems on the spot.

• Cognitive Virtual Agent
Use the power of cognitive 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 above and beyond the capabilities of simple chatbot and FAQ tools.

• Cognitive Agent Assist
Apply AI power to provide a call center agent CSR, underwriter, claims person or insurance agent with a comprehensive view of claim information. Get insights and advice so that they can provide an efficient, satisfactory and rewarding exchange with every customer.

• Natural Language Processing
Harness the power of 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.

• Watson Expert Assist
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.

Get started

Would you like to talk with an IBM Insurance expert?