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The tech-powered operating model research shows that a broad enterprise technology strategy is crucial for business success. Part of that success comes from a leader’s ability to scale technology to drive exceptional customer experiences and new value propositions. In support of such an endeavor, insurers, driven by speed to market with new and differentiated products, … Read more
With all the buzz around ChatGPT and generative AI, it’s important to remember that cloud is the underpinning. Insurers will need to replatform by migrating to the cloud to enable innovation and growth through these new and emerging technologies. At the same time, they are taking a hard look at their legacy blocks to determine … Read more
For over a decade, we have pretended to be paperless. We tout the fact that the file cabinets, the 7-part specialized file folders, and massive mail rooms have all been eliminated and reduced, and claim that we are paperless. But we know it isn’t real. Today’s paper is PDFs, excels, and adobe. The filing cabinets … Read more
Every day we see headlines about generative AI. For the insurance industry, this technology offers acceleration in many areas in which AI-led transformation is already underway. But, like any emerging technology, it also introduces new areas of risk. In this Insurance News Analysis, Abbey Compton and I are joined by Daria Lee Sharman for a … Read more
Inflation and cost-of-living headlines are on the rise. Such discussions often include increases in car insurance rates and potential savings to be found in pay-as-you-drive policies, but data from vehicle telematics can drive value far beyond pricing. In this Insurance News Analysis, Abbey Compton and I are joined by David Morse, Chief Customer Officer at … Read more
NORTHBROOK, Ill., March 16, 2023 – The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of February of $211 million or $167 million, after-tax. Catastrophe losses for February events were estimated at $241 million, related to nine events primarily from wind and rain that were geographically widespread, partially offset by favorable … Read more
As the insurance industry continues to navigate the pace of change, complexity and uncertainty in our world, consumers continue to respond, expecting companies to be more responsive to their needs. This year’s underwriting predictions offer guidance on how carriers can respond faster. 1. Evolving cognitive technologies will help insurers capture opportunity from more discrete market … Read more
In a market that calls on insurers to be agile and digitize at scale, an insurer’s mainframe can either catalyze or inhibit progress. While the mainframe was once a valuable core technological function, many legacy mainframes lack the agility to meet the demands of customer expectations and rapid digital progress. The call for mainframe modernization … Read more