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Three different approaches can enable insurers to respond effectively. Consumers expect a seamless, digitally enhanced experience across multiple access points and channels. Insights on Financial Services MORE
As the world recovers from the COVID-19 crisis, insurers should invest in digital and analytics capabilities that will make them more customer-centric, simple, tech driven—and competitive. 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
In times of uncertainty, carriers can pursue resilience through a staged approach to stabilizing, reimagining, and transforming operations. Insights on Financial Services 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
In this video, McKinsey partner Sumit Popli discusses the role bancassurance, digitization, and digital distribution have been playing in Asia and what this means for insurers. 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. Insurance Media / Internet big data Cloud insurance MORE
Cash Cow Capex Thesis vs. Liquidity Insurance Thesis Nick Nelson has it correct. Much of the cash on hand is nothing but insurance against the same thing happening again. Nonetheless, the cash does provide cheap liquidity insurance against a credit crunch. 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. Ultimately, no one benefits from the high cost of public liability insurance. MORE
Our 2019 analysis of McKinsey’s Global Insurance Pools database offers a detailed look at global insurance trends, with analysis by region and line of business. Insights on Financial Services MORE
Insurance companies can reap significant benefits from overhauling their core IT systems. Deciding which approach to choose depends on a range of considerations. Insights on Financial Services 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
Most carriers are struggling to meet their cost of capital, and productivity has barely moved over the past decade. Taking a more structural approach to productivity is required to make significant progress. Insights on Financial Services MORE
Cyber insurance helps protect your company from costly data breaches not covered by general or professional liability insurance. Learn the benefits of cyber insurance, what it protects, and why you should consider it if your company engages independent contractors 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. MORE
Before attempting to execute new strategies, insurance companies need to reevaluate every dimension of their operating model. Here are some recommendations MORE
The first sector to be disrupted by connected-car technologies could be auto insurance. The overall safety improvements ushered in by self-driving technology will affect the insurance business long before fully autonomous vehicles reach the mainstream. 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
A small group of winners captures much of the economic profit in the insurance industry. New research quantifies just how far ahead the leaders are—and what other insurers can do to catch up. MORE
As insurance companies allocate more resources to technology functions, operations will need to reshape to make the most of their new tools. Insights on Financial Services MORE
The COVID-19 pandemic brings unique challenges to commercial, specialty, and personal lines insurance. Several actions can help companies navigate the crisis. Insights on Financial Services MORE
For insurers that are considering a digital transformation of their business, technology is at the heart of the endeavor. Forward-looking insurers first need to alter their approach. See “Building a Digital Technology Foundation in Insurance,” BCG article, August 2016.). MORE
Here’s the opening of an email to executives in the Insurance Industry interested in increasing sales: We’ve all seen this opera a thousand times: Yes, insurance salespeople have been the victim of vicious stereotypes. MORE
Direct insurers in Western Europe are leaner, simpler, and faster than traditional multichannel insurers. Still, they must take action to fulfill their potential. Insights on Financial Services MORE
Life insurers have been latecomers to the digital era. That will have to change. Our Insights MORE
A recent McKinsey survey of Chinese agents offers insights into how COVID-19 has affected the Chinese insurance industry and what insurers can do moving forward. Insights on Financial Services MORE
Although insurers within the Iberian Peninsula have embraced analytics, realizing the full value of new technologies will require a confident move from moderate pilots to enterprise-wide deployment. 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
Insurers today face a host of digital to-dos if they want to stay competitive—much less gain an advantage on their peers. Most insurers need to overcome significant constraints in their current IT landscape. We recently researched the readiness of insurers to go digital. 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. MORE
Insurance Related Topics 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. Ultimately, no one benefits from the high cost of public liability insurance.
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. Insurance Media / Internet big data Cloud insurance
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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
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.
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.
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.
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McKinsey
JULY 6, 2020
Insurers that succeed in the coming years will be those that recognize talent strategy has the same importance as core business strategy. Insights on Financial Services
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
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.
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
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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.
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McKinsey
JUNE 23, 2020
A recent McKinsey survey of Chinese agents offers insights into how COVID-19 has affected the Chinese insurance industry and what insurers can do moving forward. Insights on Financial Services
McKinsey
APRIL 2, 2020
Three different approaches can enable insurers to respond effectively. Consumers expect a seamless, digitally enhanced experience across multiple access points and channels. Insights on Financial Services
McKinsey
DECEMBER 17, 2019
As insurance companies allocate more resources to technology functions, operations will need to reshape to make the most of their new tools. Insights on Financial Services
McKinsey
MAY 8, 2020
To navigate the next normal, Indian insurers must consider the potential recovery scenarios and act quickly and decisively. Insights on Financial Services
McKinsey
MAY 15, 2020
As the world recovers from the COVID-19 crisis, insurers should invest in digital and analytics capabilities that will make them more customer-centric, simple, tech driven—and competitive.
The More Clients Blog
APRIL 15, 2019
Here’s the opening of an email to executives in the Insurance Industry interested in increasing sales: We’ve all seen this opera a thousand times: Yes, insurance salespeople have been the victim of vicious stereotypes.
McKinsey
AUGUST 15, 2019
Most carriers are struggling to meet their cost of capital, and productivity has barely moved over the past decade. Taking a more structural approach to productivity is required to make significant progress. Insights on Financial Services
McKinsey
JUNE 19, 2019
A small group of winners captures much of the economic profit in the insurance industry. New research quantifies just how far ahead the leaders are—and what other insurers can do to catch up.
McKinsey
JULY 8, 2020
Direct insurers in Western Europe are leaner, simpler, and faster than traditional multichannel insurers. Still, they must take action to fulfill their potential. Insights on Financial Services
McKinsey
MAY 11, 2019
Our 2019 analysis of McKinsey’s Global Insurance Pools database offers a detailed look at global insurance trends, with analysis by region and line of business. Insights on Financial Services
McKinsey
APRIL 15, 2020
The COVID-19 pandemic brings unique challenges to commercial, specialty, and personal lines insurance. Several actions can help companies navigate the crisis. Insights on Financial Services
McKinsey
APRIL 17, 2017
Life insurers have been latecomers to the digital era. That will have to change. Our Insights
McKinsey
NOVEMBER 5, 2019
Insurance companies can reap significant benefits from overhauling their core IT systems. Deciding which approach to choose depends on a range of considerations. Insights on Financial Services
MBO Partners
JANUARY 21, 2019
Cyber insurance helps protect your company from costly data breaches not covered by general or professional liability insurance. Learn the benefits of cyber insurance, what it protects, and why you should consider it if your company engages independent contractors
McKinsey
APRIL 28, 2020
Policygenius CEO Jennifer Fitzgerald shares insights on how the industry is managing risk and safeguarding consumers in the midst of the COVID-19 crisis. Insights on Financial Services
BCG
DECEMBER 8, 2016
For insurers that are considering a digital transformation of their business, technology is at the heart of the endeavor. Forward-looking insurers first need to alter their approach. See “Building a Digital Technology Foundation in Insurance,” BCG article, August 2016.).
McKinsey
AUGUST 22, 2019
In this video, McKinsey partner Sumit Popli discusses the role bancassurance, digitization, and digital distribution have been playing in Asia and what this means for insurers.
McKinsey
APRIL 4, 2020
Although insurers within the Iberian Peninsula have embraced analytics, realizing the full value of new technologies will require a confident move from moderate pilots to enterprise-wide deployment.
McKinsey
OCTOBER 29, 2019
Four McKinsey partners describe their Claims 2030 vision. Insights on Financial Services
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
MishTalk
JANUARY 23, 2014
Cash Cow Capex Thesis vs. Liquidity Insurance Thesis Nick Nelson has it correct. Much of the cash on hand is nothing but insurance against the same thing happening again. Nonetheless, the cash does provide cheap liquidity insurance against a credit crunch.
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. Most insurers need to overcome significant constraints in their current IT landscape. We recently researched the readiness of insurers to go digital.
Strategy+Business
FEBRUARY 5, 2017
The first sector to be disrupted by connected-car technologies could be auto insurance. The overall safety improvements ushered in by self-driving technology will affect the insurance business long before fully autonomous vehicles reach the mainstream.
McKinsey
APRIL 30, 2020
In times of uncertainty, carriers can pursue resilience through a staged approach to stabilizing, reimagining, and transforming operations. Insights on Financial Services
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