THE IMPACT OF ARTIFICIAL INTELLIGENCE ON THE INSURANCE SECTOR

whitePaper | June 24, 2022

Health care solutions devised in the past are becoming redundant at lightning speed due to the ever evolving and varying health care demands. This is driven by demographic changes, medical inflation, consumerism, regulatory changes, and growing awareness of patients regarding their own health care. Continuous efforts are being made towards understanding health care needs and accordingly building sustainable solutions. This includes driving better product structures, price differentiation, claims management, customer engagement, and risk profiling by making technological, economic, and societal changes.

whitePaper | December 6, 2022

Wildfire risk is complicated – and not just in terms of predicting, preparing for, and mitigating damage. Wildfires play a complex role in overall climate risk that insurers need to understand and to develop new strategies to address as the impacts of climate change continue to evolve.

whitePaper | November 14, 2022

We all know buying insurance is hardly a gratifying experience, especially when there are several policy options available in the market. Widespread digital innovation has made it convenient for consumers to connect with an infinite number of insurers, in different ways. This is wonderful, but it also means the selection and buying process has been extended and is getting overly complicated. A DIY approach of selling insurance through agents or just relying on website sales results only in spaghetti integrations. Insurers are working collaboratively with an ecosystem of partners to cater to underserved markets, gain access to new customer segments, and increase brand recognition as well as cross-selling opportunities while building a foundation for customer lifetime value.

whitePaper | December 14, 2021

The cyber insurance market is changing fast, and conditions are getting tougher as the market hardens for the first time in its 15-plus year history. While most organizations already have some cyber insurance coverage, many are finding the bar for renewal is getting higher as capacity shrinks – and premiums are going up.

whitePaper | August 20, 2021

COVID-19 brought sweeping implications for all industries, but nowhere more so than in the health insurance industry. And now, firms continue to face challenges on multiple fronts as they work to meet the expectations of both members and employees. At the peak of disruption, the focus was on ensuring business continuity. These days efficiency initiatives are cropping up as insurers adapt to the new normal.

whitePaper | November 30, 2022

In June 2022, nearly two dozen people were charged with defrauding various life insurance carriers – to the tune of more than $25 million. Those involved conspired to apply for numerous bogus life insurance policies, then collect on them by intentionally deceiving carriers with the assumed identities of deceased individuals.