Removing inefficiency in commercial insurance

whitePaper | April 1, 2023

In a study conducted by KPMG, 96% of insurance CEOs reported the pandemic accelerated digitization initiatives. COVID-19 forced businesses of all shapes and sizes (along with consumers) to embrace digitization.

whitePaper | June 16, 2022

Data has always been an important asset in the insurance industry, which is largely built on algorithms and financial models. Today, that is truer than ever before. Data can be analyzed to provide insurers with deeper business insights and the ability to target the right customers through the right channels with the right offerings in the right sequence. It also has opened the door to a growing group of digital natives and insurtechs that bring innovative ideas and solutions to help accelerate and improve the customer journey. Today, the advent of artificial intelligence (AI) is increasing the importance of data across the industry. AI is widely recognized for its potential to bring greater efficiency and innovation to the entire insurance value chain, from customer acquisition to claims processing, and for all stakeholders, including customers, agents and employees. However, effective AI depends on current, accurate and relevant data. AI is key to competitiveness, and data is key to AI.

whitePaper | January 12, 2022

Insurers need to tackle the rapid changes to their ecosystem. They instinctively react in the same way they have always reacted in previous crises — by making marginal adaptations to the traditional way of doing things and further optimizing and streamlining the existing business model.

whitePaper | April 26, 2022

The climate crisis poses a serious threat to the United States economy and human welfare, with a narrowing timeframe to invest in opportunities to avoid the most catastrophic impacts. Extreme weather events can be exacerbated by climate change, disrupting supply chains, and flooding made worse by sea level rise can destroy critical infrastructure. As a smaller subset of these impacts, climate change threatens the Nation’s fiscal health.

whitePaper | December 20, 2022

Traditionally, those specialists working on data analytics and machine learning use cases have a fairly niche skill set. They have an innate aptitude for computer science, statistics, math and so forth.

whitePaper | March 2, 2023

While it might sometimes feel like a very settled market, motor insurance is changing as consumers’ needs change. A combination of the social and economic effects of the Covid-19 pandemic, inflationary forces and increased public concern about the environment are altering the way many U.K. consumers use their cars. One consequence of these changes is growing interest in non-annualised policies (NAPs) for motor insurance.