2020 Global Insurance Outlook

January 10, 2020

The annual EY Insurance Outlooks represent a perspective on key issues shaping the industry in the near term (three years). They complement the NextWave series, which takes a longer-term perspective (five years and beyond) and examines specific market scenarios that will shape the future of the industry.

Spotlight

Health Alliance Plan

We are a non-profit, Michigan-based company and a subsidiary of the Henry Ford Health System, one of the nation's leading health care systems. We provide health plans for everyone -- individuals and companies of all sizes. Since 1960, we’ve partnered with leading doctors, hospitals, employers and community organizations to enhance the lives of those we touch. We offer six distinct health insurance lines: • Group Insured Commercial • Individual • Medicare • Medicaid • Self-Funded • Network Leasing HAP also provides: • Award-winning wellness programs • Community outreach • Digital health tools • Disease management services • Personalized customer service

OTHER WHITEPAPERS
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Artificial Intelligence – Welcome Opportunity or Inescapable Challenge for Insurers?

whitePaper | November 15, 2019

The proliferation of big data and artificial intelligence (AI) impacts practically every human enterprise and endeavor. The insurance industry is certainly no different, having historically thrived on developments in data, data analytics, AI and other information technologies. Insurance companies are taking advantage of the digital transformation to automate claims management processes, improve operational efficiencies, and increase the quality of service they deliver to customers with personalized marketing and recommendations. The ongoing race to conquer volumes of heterogeneous data and wring every bit of informational value out of raw intelligence will mean growing opportunities and inevitable challenges for insurers, the insured and most participants in the insurance sector.

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TRENDS: INSURANCE

whitePaper | December 13, 2019

This paper contains the views and thoughts from the Sovos global practice and contributors include our indirect tax, e-invoicing and other subject matter experts from across the organisation. Our aim is to provide you with a high-level insight into the challenges that not only insurers but also governments are facing and how insurers need to adapt to survive and prosper in today’s digital age.

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What Every CISO Needs to Know About Cyber Insurance

whitePaper | March 2, 2020

Decades ago, a group of merchants created a concept of general average—which is when all parties in a maritime venture share in losses resulting from a sacrifice of cargo in an emergency. What this group fashioned in 1890 was a method for merchants to insure their shipped goods. Upon landing, merchants whose cargo landed safely were expected to contribute a portion to merchants whose goods had been lost at sea. With this, an early form of insurance was born.

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How InsurTech is transforming the insurance industry to address a new era of emerging risks, and improving lives along the way.

whitePaper | December 10, 2019

Insurance, since its inception, has shaped patterns of economic and social growth. It has helped us mitigate the damage of threats and disasters from droughts to car accidents, and has opened new pathways to financial health and stability that would not have been possible without risk management. Insurance is part of all of our lives and, as societies across the globe now grapple with increased risks from climate change to geopolitics, and new trends in consumer demand and technological advancement, insurance is changing.

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How Artificial Intelligence is making insurance work better for everyone

whitePaper | May 25, 2022

As a heavily regulated, intensively bureaucratic sector – a business founded on caution – insurance has always been slow to adapt. But a confluence of historic challenges is forcing the industry to undergo arguably the most radical change in its history. Fundamentally, insurance is a hedge against risk. Over the coming years, it will become a proactive exercise in preventing risk, moving from protection to prevention.

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Best practices for increasing policyholder retention and satisfaction

whitePaper | February 3, 2020

The U.S. property and casualty (P&C) insurance market continues to rank among the most competitive in the world, and the competition is only getting stiffer. In an effort to differentiate themselves from the competition, many insurance carriers have turned to aggressive pricing in the form of lower premiums for policyholders. Still others have tried to pull ahead of the pack with self-service claims models or other specialized insurance products.

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Spotlight

Health Alliance Plan

We are a non-profit, Michigan-based company and a subsidiary of the Henry Ford Health System, one of the nation's leading health care systems. We provide health plans for everyone -- individuals and companies of all sizes. Since 1960, we’ve partnered with leading doctors, hospitals, employers and community organizations to enhance the lives of those we touch. We offer six distinct health insurance lines: • Group Insured Commercial • Individual • Medicare • Medicaid • Self-Funded • Network Leasing HAP also provides: • Award-winning wellness programs • Community outreach • Digital health tools • Disease management services • Personalized customer service

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