Customer service has recently taken a central focus for insurance carriers. The exploits of digitally-native InsurTechs such as Metromile and Lemonade have demonstrated the appeal that personalized, seamless product offerings can create. In a 2019 Insurance Nexus survey, a majority of respondents felt that the customer experience would see the greatest impact from the implementation of AI.
Yet, while 2018 saw many legacy carriers conduct a host of pilot initiatives aimed at improving…Continue
Added by Insurance Nexus on March 19, 2019 at 5:07pm — No Comments
From day-to-day operations, to the very relationship between insurers and policy-holders, it is no exaggeration to say that connected insurance represents the biggest potential for transformation that insurance has witnessed since the invention of the computer. See, for example, the ability of an insurance carrier to react to live data, in real time, and prevent a loss from occurring. From simply mitigating the effects of a loss, they now become partners in risk-prevention.
Added by Insurance Nexus on March 14, 2019 at 11:30am — No Comments
With 2018 witnessing unprecedented advances in the investment and deployment of artificial intelligence within the insurance industry, Insurance Nexus is delighted to announce that the Insurance AI and Analytics USA Summit will return to Chicago for a sixth time in 2019, welcoming more than 450 senior…Continue
Added by Insurance Nexus on March 6, 2019 at 12:43pm — No Comments
‘Innovation’ in insurance is no longer a luxury, it is a necessity. But to remain competitive, operationally efficient and to provide modern customers and clients with what they want, innovation demands time and dedicated resources.
AXA, Generali, Tranquilidade and Aite Group will join Insurance Nexus for a live webinar, to discuss how leaders in innovation are both creating and implementing successful innovation strategies through…Continue
Added by Insurance Nexus on February 27, 2019 at 2:23pm — No Comments
Insurance carriers are busy building organization-wide strategies to create innovative products, leverage technology effectively and deliver real customer value – something that takes a lot of time, effort and inspiration. According to a 2018 survey of more than 400 insurance executives conducted by Insurance Nexus, 77% of North American carriers invested in AI and machine learning in 2018 (an increase on 70% the previous year), with 85% anticipating this to increase further in 2019 (up from…Continue
Added by Insurance Nexus on February 21, 2019 at 5:15pm — No Comments
In an increasingly cost-competitive industry, digital technologies are providing today’s insurance carriers with new methods of distinguishing themselves from competitors. Of particular focus is the claims process. As insurance’s ‘moment of truth’, policy-holders’ experiences when making a claim can define whether they become satisfied and loyal customers for life or disgruntled, and unlikely to return.
With the majority of insurance executives believing that customer…Continue
Added by Insurance Nexus on February 15, 2019 at 5:19pm — No Comments
It is generally accepted that for insurance to match the majority of customer-facing industries in terms of customer service, omnichannel engagement and personalized products, insurers must undertake a series of radical organizational and technological transformations.
Of course, to effectively acquire customers, offer them personalized products and seamless service requires careful analysis of data from which insights can be drawn. However, the chief challenge to insurers’…Continue
Added by Insurance Nexus on February 11, 2019 at 3:52pm — No Comments
For too long, insurance carriers have tended to push what they have been able to produce, rather than respond to what customers have actually wanted. But things are changing. Agile start-ups and innovative insurers have demonstrated that customers are responding to products and services that match their lifestyles and inspire engagement. The imperative is on insurers to act now.
To get to the bottom of what is driving change in how insurance products are developed and targeted,…Continue
Added by Insurance Nexus on February 8, 2019 at 5:37pm — No Comments
LONDON, UK: Insurance Nexus announces 2019 dates for world-renowned conference series focussing on transformation and technological advances for senior leaders in the insurance industry.
The insurance industry is undergoing dramatic and unprecedented changes. In recent years, data has proliferated, customer expectations have skyrocketed and technology has rapidly evolved; and so far, insurance companies are grappling with greater competition, increased…Continue
Added by Insurance Nexus on January 15, 2019 at 6:48pm — No Comments
Although an often-overused term, there can be no doubt that insurance is facing significant disruption. Data is more abundant than ever, yet in many cases is unstructured, disparate and, well, very big. Customers now demand seamless, omnichannel and personalized service and with a shortage of technical expertise hitting every industry, leveraging the availability of data and the potential of technology is proving difficult.
What’s more, as first-movers begin to reap the rewards of…Continue
Added by Insurance Nexus on January 7, 2019 at 6:31pm — No Comments
Understanding AI is non-negotiable for insurance carriers. Out of the entire spectrum of technology that have the potential to affect the insurance industry, the consensus is growing that AI is likely to have the biggest impact. The industry certainly believes this; insurance carriers’ investments in AI are increasing year-on-year, with the trend is set to continue, at least into 2019. And with good reason;…Continue
Added by Insurance Nexus on December 4, 2018 at 1:05pm — No Comments
CHICAGO: Senior claims executives from leading insurance companies will participate in a live and free webinar hosted by Insurance Nexus, exploring whether AI can be the solution for efficient, hyper-personalized claims at scale.
As insurance’s ‘moment of truth’, the claims process is often regarded as the ‘face’ of insurance; the majority of customers’ interactions with their insurance carrier are when they are making a claim and so it is essential for…Continue
Added by Insurance Nexus on November 28, 2018 at 1:50pm — No Comments
When asked the question “do you believe that AI is transforming the insurance industry”, 94% of respondents to a 2018 study by Insurance Nexus, agreed that this is the case. Accordingly, the same survey concluded that 75% of European insurance carriers are currently investing in AI, with 64% of their Canadian counterparts the same. In respect of carriers’ drive to effectively utilize AI, Insurance Nexus are holding a webinar on Wednesday, November 14th; “…Continue
Added by Insurance Nexus on November 6, 2018 at 4:46pm — No Comments
LONDON, UK: Insurance Nexus are developing a comprehensive report into the state of play of connected claims and the technologies currently transforming the insurance business. As a precursor to this, they are holding a survey of global insurance professionals to gauge their thoughts, opinions and predictions on the current state of the industry.
The report will contain full statistics from the survey, as well as exclusive business cases exploring computer vision,…Continue
Added by Insurance Nexus on November 1, 2018 at 2:43pm — No Comments
CHICAGO: After receiving an unprecedented number of nominations from across the insurance industry, the finalists of the Insurance Innovation Awards 2018 have been revealed, Insurance Nexus have announced.
As recent research conducted by Insurance Nexus demonstrates, insurance is undergoing dramatic and industry-wide transformation. 96% of the (over 500) senior executives interviewed agreed with the statement that “carriers must transform their…Continue
Added by Insurance Nexus on October 22, 2018 at 5:56pm — No Comments
Connected Claims Europe 2018 returns to London this October (29th & 30th) to welcome 250+ senior insurance claims executives. The event is focussed on uncovering how insurers are taking steps to re-engineer the claims function to raise operational efficiency and improve customer experience.
Now is the time for claims to realise the potential that technology offers to satisfy the high expectations of the modern client and drive operational…Continue
Added by Insurance Nexus on August 30, 2018 at 4:35pm — No Comments
The insurance industry is entering an age of disruption and digital transformation. Bespoke products and personalized outreach will soon be the new norm, and insurance carriers will see pivotal changes powered by AI solutions.
With new technologies enabling both operational efficiency and a superior customer experience, from artificial intelligence to drones and mobile customer communication methods, we are proud to announce that nominations have opened in 2018 Insurance…Continue
Added by Insurance Nexus on July 25, 2018 at 4:02pm — No Comments
AI and machine learning are proving to be the only methods in which organizations will meet customer demands at scale and as the race to win customers’ heart becomes tighter than ever, carriers are having to compete with tech giants for AI’s vital ingredients: talent and data.
Which is why the Insurance Analytics Canada Summit (Sep 25-26, Toronto) is bringing together the industry’s heavyweights to discuss how AI and advanced analytics can be utilized to deliver unparalleled…Continue
Added by Insurance Nexus on June 29, 2018 at 2:30pm — No Comments
Over 40% of insurance carriers in Canada have not yet seen a clear return from their investments into advanced analytics (Canada’s First Insurance Analytics & AI Survey, Insurance Nexus, 2018).
Which is why Insurance Nexus is bringing Fernando Moreira (Senior Vice President of Global Insurance, Scotiabank) and Jean-François Larochelle (Director Data Lab, Intact) to discuss how to successfully deploy analytics into…Continue
Added by Insurance Nexus on June 27, 2018 at 2:26pm — No Comments
According to a brand-new survey from Insurance Nexus 94% of respondents agreed that AI is going to deeply transform the insurance industry.
The message is clear. AI is going to hit insurance big time – so you need to ensure you’re prepared for the future.
One way to do this is to check out our newly released “Insurance AI & Analytics Innovation Survey”, where we quizzed 250 of the brightest minds in the European insurance community. By reading it, you’ll…Continue
Added by Insurance Nexus on June 25, 2018 at 2:18pm — No Comments