How the Insurance Industry Could Bring Down Fossil Fuels
Harvard Business
MAY 27, 2021
Facing billions of dollars in losses, insurers are starting to ditch carbon-producing energy — but they’re still tentative about renewables.
New Technologies in the Insurance Landscape (Part 3 – Cloud)
Tom Spencer
DECEMBER 1, 2018
For this reason, any reticence the insurance industry showed early on has been replaced with a holistic embrace of trusted cloud platforms. Cloud in the Insurance Sector. Implementing cloud technology into the insurance industry is a positive step towards building a digital insurance landscape. Final Note.
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Healthcare Industry — The Rise of Vertical Integration
Tom Spencer
FEBRUARY 2, 2019
In recent years, players in the healthcare industry have strived to create more effective systems in order to improve overall patient outcomes. For example, an insurance company might take control of hospitals, primary care providers, home services, or community agencies. How to break out of the old model?
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Health Economics Part II – Insurance
Tom Spencer
JUNE 22, 2019
In this post, I will go beyond a general interpretation of demand and give you an in-depth overview of a specific and expensive issue: the rising cost of public liability insurance. Public liability insurance (PLI) is an interesting and important topic because its costs are far-ranging and complex.
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The Insurance Industry Needs an Intervention
Strategy+Business
JUNE 17, 2018
Before attempting to execute new strategies, insurance companies need to reevaluate every dimension of their operating model. Here are some recommendations.
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New Technologies in the Insurance Landscape (Part 1 – Artificial Intelligence)
Tom Spencer
OCTOBER 6, 2018
Digital disruption is touching every aspect of the consumer market, including the insurance industry. Traditionally, the insurance industry has lagged behind other sectors in the shift into digital technologies, its business model proving to be remarkably resilient. Artificial Intelligence.
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Generating Value While Transforming Insurers’ Legacy Technology
BCG
DECEMBER 8, 2016
For insurers that are considering a digital transformation of their business, technology is at the heart of the endeavor. Comparisons with industry peers no longer define customer expectations. Forward-looking insurers first need to alter their approach. Article Thursday, December 08, 2016.
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Disrupting the Insurance Industry with AI
Harvard Business
AUGUST 14, 2019
Daniel Schreiber, Lemonade’s CEO and cofounder, joins Azeem to discuss how the company is using artificial intelligence to disrupt a legacy industry by realigning incentives with the values that customers care about.
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What is the Professional Services Industry All About?
Progressus
OCTOBER 27, 2023
Professional services is an expansive space spanning several industries – consulting firms, software publishers, IT service providers, even manufacturers and distributors that offer post-sale services — each with its own set of challenges, regulations, and opportunities.
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52 Building a Digital Technology Foundation in Insurance
BCG
AUGUST 29, 2016
Insurers today face a host of digital to-dos if they want to stay competitive—much less gain an advantage on their peers. It can also necessitate a fundamental overhaul of core insurance systems to digitize end-to-end customer journeys and automate decision making in basic functions such as underwriting and claims handling.
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Future Workplace Insurance 2025
Cheryl Cran
JULY 4, 2019
Many industries including insurance are adapting quickly to the many changes impacting the future workplace insurance 2025. AI, automation, robotics, changing worker attitudes are quickly impacting the future of insurance. The post Future Workplace Insurance 2025 appeared first on NextMapping.
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How the Insurance Industry Can Push Us to Prepare for Climate Change
Harvard Business
AUGUST 28, 2017
It might seem, then, that private insurance can be of little help in addressing climate change. There’s concern that for-profit insurers won’t want to insure risky properties, and that individuals won’t have the wherewithal to buy insurance plans in the first place. Dating back to at least F.
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The Insurance Industry Needs an Intervention
Strategy+Business
JUNE 17, 2018
Before attempting to execute new strategies, insurance companies need to reevaluate every dimension of their operating model. Here are some recommendations.
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Figuring Out Your Billing Rate as an Independent Consultant
Successful Independent Consulting
OCTOBER 27, 2023
They don’t know to add a hefty margin to cover things like self-employment tax, business expenses, health insurance, and nonbillable time spent on business administration. Solopreneurs who come from “name” firms like PwC or McKinsey can charge more than those who come from industry.
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Driverless Cars Will Change Auto Insurance. Here’s How Insurers Can Adapt
Harvard Business
DECEMBER 5, 2017
There is little doubt that the widespread adoption of autonomous vehicles will have a huge impact on the automobile insurance industry. Since insuring privately owned vehicles is what the auto insurance industry has been all about, insurers have every reason to be concerned about their future growth and profitability.
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36 Creating Value in Insurance M&A
BCG
MAY 2, 2016
This article is based on “Influencing Outcomes in a Consolidating Insurance Industry: Three Keys to Value Creation,” by Pia Tischhauser, published in January 2016 in The Geneva Association’s Insurance and Finance Newsletter. Although not quite at the stage of mania, mergers have been sweeping the global insurance industry.
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IMC CHOOSES AON TO EXCLUSIVELY ADMINSTER PROFESSIONAL LIAIBILITY INSURANCE TO ITS MEMBERS
IMC USA
JANUARY 20, 2011
PROFESSIONAL LIAIBILITY INSURANCE TO ITS MEMBERS. January 15, 2011) – Affinity Insurance Services, Inc. , a subsidiary of Aon , along with the Institute of Management Consultants (IMC), announced today that Aon will be the exclusive administrator of its Professional Liability insurance program to IMC’s members. HATBORO, Penn.
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Why the Insurance Industry Can’t Risk Overlooking Artificial Intelligence - SPONSOR CONTENT FROM COGNIZANT
Harvard Business
NOVEMBER 22, 2016
During the past five years, industrial use of artificial intelligence (AI) has risen exponentially across industries. At the same time, front-runners across industries are partnering with technology companies to identify game-changing business solutions that can be achieved through AI.
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Asset Management – Industry Overview (Part 1 of 4)
Tom Spencer
MAY 18, 2019
The asset management industry is a steward of money provided by individuals and institutions, and manages this money in order to meet the unique return objectives of each client. The asset manager can be compensated in a variety of ways including fixed fees, pay for performance, and as a percentage of assets under management (AUM).
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For Beginners: A Roadmap into the Consulting Industry
Tom Spencer
JANUARY 6, 2018
The management consulting industry is far from being a big mono chunk. A whole value chain exists in this industry. More importantly, each firm has a very different culture, industry focus, as well as ways of recruiting talent. An interview with a McKinsey Associate about his journey into the industry. Image: Pexels.
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Impact of Low Health Literacy on the Healthcare Industry
Tom Spencer
DECEMBER 15, 2018
As the American health system continues to find ways to improve care and do so at a lower cost, one of the most costly aspects for the healthcare industry is high administrative costs due to low healthcare literacy. The national report noted that health insurance companies spend $26 more on a patient with lower healthcare literacy.
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Why CEO’s Hire Consultants and Coaches: The REAL Value They Bring with Brad Rex
Consulting Matters
APRIL 13, 2023
Now, they are in network with all the major insurance companies and have a major partnership with Wounded Warrior Project. An industry visionary, Brad specializes in distressed and growth business opportunities. In addition, they are now the primary mental health care provider for the US Olympic and Paralympic Team!
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CX Snapshot: Health Insurance
1 to 1
MARCH 18, 2019
As consumers take more control of their healthcare decisions, insurance companies are catching up to other industries in how they interact with members and deliver customer experiences. So what is the state of CX among health insurance firms? health insurers, where we assessed channel experience and overall service.
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How To Become a Thought Leader by Trusting Your Ideas with Dan Weedin
Consulting Matters
JANUARY 27, 2022
He has been an expert advisor to insurance and risk professionals. Today, he is on my show to talk about his latest book, Back 9 Walking, which is undoubtedly his most powerful! In this book, he shares his reflections on mid-life through his experiences, which is exactly what makes a thought leader.
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356: Jennifer Kluge—Meet The Leader To Build Your Business Into One Of The Best And Brightest
On the Brink Podcast
APRIL 10, 2023
Her organization, the National Association for Business Resources , was focused wholly on businesses in Michigan, offering important services from insurance products to support with accounts receivables.
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Wealth Management 101: The Hidden World of Private Banking
Tom Spencer
JUNE 30, 2023
The financial services industry comprises firms that operate across a range of sectors: Asset & Wealth Management, Banking & Capital Markets, and Insurance. Image: Pexels The post Wealth Management 101: The Hidden World of Private Banking first appeared on Tom Spencer.
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How PURE Insurance Built a Customer-Obsessed Business
1 to 1
JULY 24, 2014
PURE insurance is using its customer-obsessed business model to stand out in the insurance industry. Since its start in 2006, PURE has grown more than 40 percent each year, and has one of the highest Net Promoter Scores in any industry. There’s more… To read the rest of this blog posting click here or visit www.1to1Media.com/weblog.
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Empowering Small Business Growth Through Consulting
Business Consulting Agency
APRIL 8, 2024
Consultants help businesses assess risks, develop risk management strategies, and ensure compliance with legal and industry standards. This includes cybersecurity measures, data protection, insurance planning, and crisis management strategies to safeguard business continuity and reputation.
Wealth Management: Building and Protecting Fortunes
Tom Spencer
APRIL 14, 2023
This may include setting up insurance policies, creating a retirement plan, and other risk management strategies. For example, a wealth manager may recommend that a client purchase a specific type of insurance to protect their assets from unexpected events such as death, disability, or critical illness.
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US Business Guide for Foreign Companies Entering the US Market
Business Consulting Agency
JANUARY 31, 2024
Analyze industry trends, consumer behaviors, and competition to gain insights into the market dynamics. Utilize resources such as the US Census Bureau, industry reports, and market research firms. Consider obtaining comprehensive insurance coverage, establishing contingency plans, and staying informed about industry-specific risks.
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Zurich Insurance Group Takes Its IT Infrastructure to the Agile Cloud - SPONSOR CONTENT FROM DXC TECHNOLOGY
Harvard Business
JULY 19, 2017
Building on a relationship that dates back to 2004, Zurich Insurance Group is working with DXC to move from traditional data center outsourcing to a Platform as a Service model, taking advantage of next-generation cloud management technologies to lower operating costs and accelerate development. How to Become a Digital Enterprise.
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The Transformative Power of AI in Business
Tom Spencer
JUNE 9, 2023
For example, in industries like finance and accounting, AI-powered systems can process invoices, perform data entry tasks, and generate financial reports with minimal human intervention. He studied Industrial and Labor Relations at Cornell University. Supply chain management is another area where AI is revolutionizing operations.
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Are Drone, Workerless Ocean Freight Ships Coming? What About Jobs? Insurance? Inflation?
MishTalk
FEBRUARY 27, 2014
Let''s explore the questions with a look at the Bloomberg article Rolls-Royce Drone Ships Challenge $375 Billion Industry. Drone ships would be safer, cheaper and less polluting for the $375 billion shipping industry that carries 90 percent of world trade, Rolls-Royce says. If shippers can pull it off, the cost saving would be immense.
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Anyone Can Succeed - Celebrating 15 Years of Consulting Success with Dan Weedin
Consulting Matters
OCTOBER 30, 2020
Dan Weedin is an author, speaker, consultant, coach, podcaster and founder of Toro Consulting , a firm that specializes in small business growth, particularly in the insurance/risk business. Dan Weedin: Well I'd been an insurance broker for pretty much all of my career. So I had been selling insurance but then I started thinking.
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Making Unbiased Decisions
Tom Spencer
APRIL 18, 2020
Interviewer: Firm A is in the life insurance industry and looking to create different pricing for individuals within the market based on their profiles and would like your help to do so. Based on my understanding, when pricing life insurance premiums, insurance companies ought to price premiums higher for males.
Wearable Technology in Healthcare
Tom Spencer
JULY 28, 2018
Based on a recent study by Global Industry Analysts , the global market for wearable medical devices is projected to eclipse $4.5 Based on a recent study by Global Industry Analysts , the global market for wearable medical devices is projected to eclipse $4.5 Global Industry Analysts, Inc. billion by 2020. billion by 2020.
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74 Is AI the Solution for the Banking Sector? (Part I: Problems)
Tom Spencer
JUNE 16, 2018
The financial services industry has seen drastic technology-driven change over the past few years, and digital has fundamentally reshaped consumer behaviour in banking. In this context, they provided accessible deposits, savings, loans, and insurance – with relatively limited need to give advice. These traditional products have value.
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Innovating in a Highly Regulated Industry Like Health Care
Harvard Business
JUNE 12, 2017
But, in highly regulated industries, such as healthcare delivery, pharma, banking, and insurance, good relationships and effective communication are especially vital. Innovating in highly regulated industries can be challenging. Innovating in regulated industries takes longer than in other industries. Be patient.
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Bank Profitability: Decoding the Income Statement
Tom Spencer
OCTOBER 6, 2023
Non-interest income This is the revenue generated from fees, typically accounting for around 40% of industry revenue, including: deposit service charges (e.g., Indirect tax refers to taxes imposed based on the consumption, sale, or use of goods and services.
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88 Beggar Thy Taxpayer: Currency Wars, QE Strain Life Insurers and Pension Plans; Negative Returns With 4-7% Promises
MishTalk
FEBRUARY 23, 2015
Currency Wars and QE Strain Life Insurance Companies and Taxpayers Bob gets credit for the phrase " beggar thy taxpayer " but I have been thinking along those lines for quite some time. The ECB’s plan to buy €60bn worth of bonds each month has further depressed yields, giving the industry greater concerns. The ECB''s policy.
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28 The Far Reaching Impact of Blockchain
Tom Spencer
JANUARY 7, 2017
However, as the technology and its implications become better understood, it will rapidly expand to new industries and verticals. Blockchain technology has been applied in the finance industry in the payments space. This is where new development and implementation may have focussed so far.
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Building a Resilience Advantage in Healthcare
Strategy+Business
DECEMBER 14, 2017
Consolidation in the healthcare industry highlights the ways companies continue to place large bets even amid the continual disruption and uncertainty surrounding the insurance market. insurers getting more involved in pharmacy benefits management.
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Tips for Case Prepping Alone
Tom Spencer
SEPTEMBER 11, 2021
For example, if you happen to have a case revolving around car insurance, it may be worthwhile mentioning the rise of self-driving cars as an emerging trend, and the opportunities and complications this poses for the automotive insurance industry.
What’s Driving Superstar Companies, Industries, and Cities
Harvard Business
OCTOBER 25, 2018
These “superstar” sectors include financial services such as banking, insurance, and asset management, professional services, internet and software, real estate, and pharmaceuticals and medical products. We find that a handful of sectors account for 70% of value added and surplus across the G-20 group of major economies.
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