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.

Insurance 60

Insurance Insurance System Government 60

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

Insurance 78

Insurance Insurance Enterprise Agile 78

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

Insurance 100

Insurance Insurance Talent Industry 100

McKinsey

AUGUST 19, 2020

Midsize North American property-and-casualty insurers have been slow to make improvements to their cost structures and operating models. Eight building blocks can help them make significant progress. Insights on Financial Services

Insurance 82

Insurance Insurance Operations Financial 82

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. Insights on Financial Services

Insurance 85

Insurance Insurance Trends Financial 85

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. Insights on Financial Services

Insurance 85

Insurance Insurance Strategy Strategy 85

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

Insurance 102

Insurance Insurance Sales Financial 102

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.

Insurance 78

Insurance Insurance Efficiency Industry 78

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

Operations 86

Operations Insurance Insurance Tools 86

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

Insurance 59

Insurance Insurance McKinsey Industry 59

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

Insurance 75

Insurance Insurance McKinsey Survey 75

McKinsey

JULY 14, 2020

Pricing excellence has always been a prerequisite for value generation, but it will be even more critical as insurers recover from the crisis. Insights on Financial Services

Insurance 76

Insurance Insurance Financial 76

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

Enterprise 52

Enterprise Agile Operations Insurance 52

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

Insurance 73

Insurance Insurance Industry Marketing 73

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.

Insurance 85

Insurance Insurance Financial 85

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. Insights on Financial Services

Insurance 87

Insurance Insurance Productivity Financial 87

McKinsey

AUGUST 1, 2020

COVID-19 reinforces the urgency to make life insurance purchasing simpler and more digitally enabled. Insights on Financial Services

Insurance 86

Insurance Insurance Financial 86

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

Insurance 86

Insurance Insurance Trends Analysis 86

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

Insurance 28

Insurance Insurance Industry Trends 28

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

Insurance 79

Insurance Insurance Company Financial 79

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.

Insurance 82

Insurance Insurance Data Marketing 82

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

Insurance 70

Insurance Insurance Company Financial 70

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

Insurance 82

Insurance Insurance Productivity Meeting 82

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. Insights on Financial Services

Insurance 87

Insurance Insurance Groups Research 87

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. Insights on Financial Services

Insurance 69

Insurance Insurance Financial 69

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

Insurance 76

Insurance Insurance Trends Industry 76

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

Insurance 59

Insurance Insurance Financial 59

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.

Insurance 69

Insurance Insurance Enterprise Financial 69

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

Insurance 75

Insurance Insurance System Company 75

McKinsey

APRIL 17, 2017

Life insurers have been latecomers to the digital era. That will have to change. Our Insights

Insurance 84

Insurance Insurance 84

McKinsey

JANUARY 26, 2019

Insurers can develop a competitive advantage by looking to how leading technology and consumer-product companies accelerate product development and improve product innovation. Insights on Financial Services

Insurance 75

Insurance Insurance Development Productivity 75

Think Customers

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.

Insurance 40

Insurance Insurance Healthcare Industry 40

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. Insights on Financial Services

Insurance 79

Insurance Insurance McKinsey Video 79

McKinsey

OCTOBER 29, 2019

Four McKinsey partners describe their Claims 2030 vision. Insights on Financial Services

Insurance 59

Insurance Insurance McKinsey Financial 59

McKinsey

OCTOBER 31, 2018

Our annual life insurance and annuities review finds that the industry is poised for growth but will need to improve its capacity for bold resource allocation and productivity improvement. Insights on Financial Services

Insurance 87

Insurance Insurance Industry Resources 87