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To compete with digital players, traditional insurers should consider building their own new digital businesses. Markers across four critical areas can show if insurers are on track. MORE
More incumbent insurers are considering building digital businesses. Insights on Financial Services InsuranceThree McKinsey experts discuss what to do—and with whom. MORE
Despite market complexity, many opportunities exist for private equity players to create value in insurance. We studied the US industry and offer a set of investment recommendations to guide PE firms’ decisions. Insights on Financial Services MORE
Insights on Financial Services Financial Services InsuranceThis often-overlooked function can yield significant cost savings. MORE
Today, insurers win by offering a product. Tomorrow, insurers will win by providing access to prevention and assistance services—and by offering the right product to the right customer at the right time. MORE
Digital Insights Financial Services Insurance Life insurance Property & casualty insurance DigitalWhat does it take to build scalable new businesses inside of an older, more established company? Bart Schlatmann is building one now. MORE
Auto insurers are basking in a false sense of security, seemingly oblivious to the impending decline in market size and the threat of new entrants. The sector is ripe for disruption: the value of insurers’ proprietary data and traditional expertise is diminishing, and other players are emerging with the data, analytics, and customer access needed to attack the value chain. Insurers must adapt. Article Thursday, October 13, 2016. MORE
P&C represents about one-third of premiums in the insurance industry—yet it has been losing relevance for years. Six market-shaping forces are the key to its reinvention. Insights on Financial Services MORE
Large insurers can turn their scale into a strong competitive advantage—if they recognize that fully harnessing the benefits of scale requires managing complexity. Insights on Financial Services Insurance MORE
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. For the insurance industry, the cloud has proven itself in three distinct areas: access to data, scalability, and trust and reliability. MORE
Insights on Financial Services Banking Insurance Payments Asia-PacificChanges in Asia's consumer markets offer new and diverse opportunities for growth. MORE
Private health insurance is a significant growth opportunity for insurers in Asia. To compete, insurers will need to reimagine their value propositions and rethink their operating models. MORE
The ninth edition of McKinsey’s Global Insurance Pools database offers a detailed look at the insurance industry by region and line of business. Insights on Financial Services Insurance MORE
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. The total cost of PLI is a result of the frequency of claims made, the size of damages awarded, legal costs, and insurance company profits. MORE
The CEO of ZhongAn Insurance says the industry can generate momentum for growth by taking advantage of trends, preparing for future developments, and increasing investments in digital transformation. Insights on Financial Services Insurance China MORE
Five strategic considerations to help guide insurance companies on their journey to success in Africa. Middle East and Africa MORE
As the COVID-19 crisis evolves, it will continue to affect insurance distribution around the world. Insurers can prepare by building a strategy focused on near- and long-term implications. MORE
Insights on Financial Services Insurance United StatesLarge deals are enticing but rare—and smaller ones create more value. Programmatic deal making would help. MORE
The pandemic could usher in a new era for the global industry, with implications for strategy and organization. McKinsey’s three regional practice leaders share insights on what the future holds. Insights on Financial Services MORE
Many in the property and casualty insurance industry have underestimated the immediacy of physical—and systemic—effects from climate change. Business models must adapt. Insights on Financial Services MORE
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. So with customers expecting more personalized, agile, and on-demand delivery, insurers are now racing to keep pace and deliver more relevant solutions for a changing user landscape. MORE
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. Blog future of insurance future of work future of work expert future of work trends future ready leaders future ready teams future workplace 2025 lead change MORE
The pandemic has created significant challenges for insurers and sped their digital shift. To stay competitive, carriers will need to radically transform their operating models and cost structures. Insights on Financial Services MORE
Industry-leading insurers have proved enterprise-wide agility delivers the innovation and change incumbents need. The COVID-19 crisis has also highlighted the need for organizational change. Insights on Financial Services MORE
Uwe Stuhldreier—an executive at HUK24, Germany’s largest fully digital direct insurer—discusses a customer-centric, digitally enabled business model that could shape the future of insurance. Insights on Financial Services Insurance MORE
Amid rising economic uncertainty, leading insurers are looking to their CROs to do even more than manage risks. Risk Insights MORE
Insurance executives must drive a shift in business from methodical to adaptive and faster. Insights on Financial Services Insurance MORE
Insurance operating models are on the verge of a fundamental change. To thrive in 2030, insurers must commit to a specific role and take action now to secure the tech capabilities they need. Insights on Financial Services Insurance MORE
Over the next decade, the fully tech-enabled insurer will bear little resemblance to today’s organization. Five trends, individually and in combination, will have a seismic impact. Insights on Financial Services Financial Services MORE
In this podcast, McKinsey experts explore the insurance procurement themes executives should consider as the tremors from the pandemic push them to rethink their service-provider relationships. Insights on Financial Services Insurance MORE
Four insurance executives from around the globe weigh in on how distribution is changing, both in the wake of the pandemic and more broadly as customer and agent needs and expectations evolve. Insights on Financial Services Insurance MORE
In the transition to a green economy, the insurance industry can play a critical role in helping stakeholders manage risk. Insights on Financial Services MORE
Many insurers have experienced unsuccessful tech modernization efforts. To reverse this trend, insurers need to first become aware of common misconceptions—and then address them head-on. MORE
Professor Markus Warg, an ecosystem and platform enthusiast, discusses the role that big tech will play in insurance and the importance of setting the rules of the game within ecosystems. Insights on Financial Services Insurance MORE
Insurance industry observers, for their part, believe that the innovative distributed ledger could introduce a variety of improvements and efficiencies to the insurance landscape, and have the following four applications: Fraud detection. Peer-to-peer insurance. Fraud accounts for as much as $80 billion every year across all lines of insurance, according to the Coalition Against Insurance Fraud. Peer-to-Peer Insurance. Blockchain insurance MORE
As economies emerge from the pandemic and plan for the next decade of growth, insurance companies need to rethink the strategic function of risk. Risk & Resilience Insights Insurance Risk management organization MORE
Insurance Related Topics McKinsey & Company
OCTOBER 14, 2021
As economies emerge from the pandemic and plan for the next decade of growth, insurance companies need to rethink the strategic function of risk. Risk & Resilience Insights Insurance Risk management organization
McKinsey & Company
AUGUST 23, 2021
Insurance operating models are on the verge of a fundamental change. To thrive in 2030, insurers must commit to a specific role and take action now to secure the tech capabilities they need. Insights on Financial Services Insurance
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McKinsey & Company
JUNE 9, 2021
More incumbent insurers are considering building digital businesses. Insights on Financial Services InsuranceThree McKinsey experts discuss what to do—and with whom.
McKinsey & Company
SEPTEMBER 13, 2021
In this podcast, McKinsey experts explore the insurance procurement themes executives should consider as the tremors from the pandemic push them to rethink their service-provider relationships. Insights on Financial Services Insurance
McKinsey & Company
AUGUST 23, 2021
Four insurance executives from around the globe weigh in on how distribution is changing, both in the wake of the pandemic and more broadly as customer and agent needs and expectations evolve. Insights on Financial Services Insurance
McKinsey & Company
JUNE 2, 2021
Insurance executives must drive a shift in business from methodical to adaptive and faster. Insights on Financial Services Insurance
McKinsey & Company
SEPTEMBER 30, 2021
Over the next decade, the fully tech-enabled insurer will bear little resemblance to today’s organization. Five trends, individually and in combination, will have a seismic impact. Insights on Financial Services Financial Services
McKinsey & Company
APRIL 29, 2021
The ninth edition of McKinsey’s Global Insurance Pools database offers a detailed look at the insurance industry by region and line of business. Insights on Financial Services Insurance
McKinsey & Company
MARCH 11, 2021
Uwe Stuhldreier—an executive at HUK24, Germany’s largest fully digital direct insurer—discusses a customer-centric, digitally enabled business model that could shape the future of insurance. Insights on Financial Services 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. The total cost of PLI is a result of the frequency of claims made, the size of damages awarded, legal costs, and insurance company profits.
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McKinsey & Company
JUNE 9, 2021
Insights on Financial Services Financial Services InsuranceThis often-overlooked function can yield significant cost savings.
|
McKinsey
OCTOBER 8, 2020
The pandemic has created significant challenges for insurers and sped their digital shift. To stay competitive, carriers will need to radically transform their operating models and cost structures. Insights on Financial Services
McKinsey & Company
MARCH 2, 2021
Large insurers can turn their scale into a strong competitive advantage—if they recognize that fully harnessing the benefits of scale requires managing complexity. Insights on Financial Services Insurance
McKinsey & Company
FEBRUARY 18, 2021
Private health insurance is a significant growth opportunity for insurers in Asia. To compete, insurers will need to reimagine their value propositions and rethink their operating models.
McKinsey & Company
MARCH 9, 2021
Insights on Financial Services Insurance United StatesLarge deals are enticing but rare—and smaller ones create more value. Programmatic deal making would help.
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. For the insurance industry, the cloud has proven itself in three distinct areas: access to data, scalability, and trust and reliability.
McKinsey & Company
JANUARY 6, 2021
In the transition to a green economy, the insurance industry can play a critical role in helping stakeholders manage risk. Insights on Financial Services
McKinsey
DECEMBER 4, 2020
To compete with digital players, traditional insurers should consider building their own new digital businesses. Markers across four critical areas can show if insurers are on track.
McKinsey & Company
NOVEMBER 10, 2020
Despite market complexity, many opportunities exist for private equity players to create value in insurance. We studied the US industry and offer a set of investment recommendations to guide PE firms’ decisions. Insights on Financial Services
BCG
OCTOBER 13, 2016
Auto insurers are basking in a false sense of security, seemingly oblivious to the impending decline in market size and the threat of new entrants. The sector is ripe for disruption: the value of insurers’ proprietary data and traditional expertise is diminishing, and other players are emerging with the data, analytics, and customer access needed to attack the value chain. Insurers must adapt. Article Thursday, October 13, 2016.
McKinsey
JUNE 23, 2020
Many insurers have experienced unsuccessful tech modernization efforts. To reverse this trend, insurers need to first become aware of common misconceptions—and then address them head-on.
McKinsey & Company
JUNE 25, 2021
Digital Insights Financial Services Insurance Life insurance Property & casualty insurance DigitalWhat does it take to build scalable new businesses inside of an older, more established company? Bart Schlatmann is building one now.
McKinsey
JUNE 13, 2020
As the COVID-19 crisis evolves, it will continue to affect insurance distribution around the world. Insurers can prepare by building a strategy focused on near- and long-term implications.
McKinsey & Company
DECEMBER 17, 2020
Amid rising economic uncertainty, leading insurers are looking to their CROs to do even more than manage risks. Risk Insights
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. Blog future of insurance future of work future of work expert future of work trends future ready leaders future ready teams future workplace 2025 lead change
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. So with customers expecting more personalized, agile, and on-demand delivery, insurers are now racing to keep pace and deliver more relevant solutions for a changing user landscape.
Tom Spencer
OCTOBER 20, 2018
Insurance industry observers, for their part, believe that the innovative distributed ledger could introduce a variety of improvements and efficiencies to the insurance landscape, and have the following four applications: Fraud detection. Peer-to-peer insurance. Fraud accounts for as much as $80 billion every year across all lines of insurance, according to the Coalition Against Insurance Fraud. Peer-to-Peer Insurance. Blockchain insurance
McKinsey
MARCH 12, 2020
Today, insurers win by offering a product. Tomorrow, insurers will win by providing access to prevention and assistance services—and by offering the right product to the right customer at the right time.
McKinsey & Company
DECEMBER 16, 2020
Five strategic considerations to help guide insurance companies on their journey to success in Africa. Middle East and Africa
McKinsey
APRIL 23, 2020
P&C represents about one-third of premiums in the insurance industry—yet it has been losing relevance for years. Six market-shaping forces are the key to its reinvention. Insights on Financial Services
McKinsey
SEPTEMBER 16, 2020
Industry-leading insurers have proved enterprise-wide agility delivers the innovation and change incumbents need. The COVID-19 crisis has also highlighted the need for organizational change. Insights on Financial Services
McKinsey
JULY 3, 2020
Now more than ever, insurers are focusing on reimagining the role of technology, reinventing technology delivery, and future-proofing the foundation of core technology.
McKinsey
NOVEMBER 19, 2020
Many in the property and casualty insurance industry have underestimated the immediacy of physical—and systemic—effects from climate change. Business models must adapt. Insights on Financial Services
McKinsey
AUGUST 1, 2020
COVID-19 reinforces the urgency to make life insurance purchasing simpler and more digitally enabled. Insights on Financial Services
McKinsey
SEPTEMBER 16, 2020
The pandemic could usher in a new era for the global industry, with implications for strategy and organization. McKinsey’s three regional practice leaders share insights on what the future holds. Insights on Financial Services
McKinsey & Company
OCTOBER 11, 2021
Insights on Financial Services Banking Insurance Payments Asia-PacificChanges in Asia's consumer markets offer new and diverse opportunities for growth.
McKinsey & Company
OCTOBER 18, 2021
The CEO of ZhongAn Insurance says the industry can generate momentum for growth by taking advantage of trends, preparing for future developments, and increasing investments in digital transformation. Insights on Financial Services Insurance China
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