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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Insurance Insurance System Government 60

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.

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Insurance Insurance Data Marketing 82

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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Insurance Insurance Industry Trends 28

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.

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Insurance Insurance Enterprise Industry 65

Harvard Business

MARCH 10, 2022

Securities could help give insurers the breathing room they need to keep growing — and meet customers’ mounting needs. Cybersecurity and digital privacy Finance and investing Risk management Technology and analytics Digital Article

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Insurance Insurance Meeting Marketing 56

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.

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Insurance Insurance Deloitte Finance 54

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

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Insurance Insurance Industry Efficiency 60

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. The half of insurance deals that failed to deliver value had fallen prey to a variety of culprits. Insurers can do better.

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Insurance Insurance Boston Consulting Group Analysis 55

BCG

DECEMBER 8, 2016

For insurers that are considering a digital transformation of their business, technology is at the heart of the endeavor. Most insurers have been slower than other types of financial services companies, such as banks, to rethink their business from the customer’s point of view—and to invest in end-to-end transformation of legacy technology systems that makes shaping customer journeys possible. Forward-looking insurers first need to alter their approach.

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Insurance Insurance Comparison Industry 67

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. Most insurers need to overcome significant constraints in their current IT landscape. We recently researched the readiness of insurers to go digital.

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Insurance Insurance Benchmarking Construction 60

Harvard Business

MAY 3, 2022

disclosure rules will give employers greater visibility into rates negotiated by big insurance companies. New U.S. Human resource management Health and wellness Health care and treatment Healthcare sector Digital Article

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Insurance Insurance Company Healthcare 42

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.

Energy 46

Energy Insurance Insurance Industry 46

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

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Insurance Insurance Data Company 38

BCG

APRIL 7, 2016

Insurers know that many small businesses in the US—those with up to 30 workers—will eventually buy insurance directly online. What insurers don’t appreciate is how fast this shift is likely to happen. See the exhibit, “Digital Underwriting Is Taking Off in the US Small-Business Insurance Market.”) Traditional insurers thus face a choice: they can either go after that market now or try to make up the ground later. Article Thursday, April 07, 2016.

Small Business 59

Small Business Insurance Insurance Boston Consulting Group 59

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. Only a few of today's auto insurance businesses may survive Claims will drop, and so will premiums.

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Insurance Insurance Strategy Strategy 51

BCG

AUGUST 18, 2016

One Monday morning, as he rides the bus to work from his new apartment in the city’s Wilmersdorf section, where the family moved over the weekend, Rolf downloads his insurance company’s mobile app and updates his account information. He has an appointment to speak by phone the next day with his agent to discuss life insurance to protect his newly expanded family. Many insurers also fail to think about how they can adjust their products to make them more adaptable to digitization.

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Insurance Insurance Data Productivity 63

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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Insurance Insurance Strategy Strategy 44

Harvard Business

APRIL 29, 2020

Existing plans might not cover the risks posed by these new technologies. Risk management Technology Digital Article

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Insurance Insurance Management 36

BCG

MAY 4, 2016

When Chinese life and auto insurers set their agendas, they should think about how to make their brands more trustworthy, their products and services simpler, and their claims processing faster and more transparent. Participants were asked whether they had recommended or criticized a life or auto insurance provider within the most recent 12 months, and if so, why. Their answers provide a map of where insurers can look to gain an advantage. Article Friday, May 06, 2016.

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Insurance Insurance Boston Consulting Group Survey 54

CLO Magazine

OCTOBER 30, 2017

Five health insurance options for independent consultants

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Insurance Insurance Consulting 32

Consultant Ninja

NOVEMBER 14, 2013

The individual market health care exchanges are set up to, in part, enable the the (non-medicaid) poor, sick, and uninsured to get affordable insurance. But for this risk pool to work, you need a bunch of people who can pay insurance and aren''t that sick. Forcing people out of their existing individual insurance plans wasn''t a surprising, unintended consequence - it is a core design objective of the success of the ACA

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Insurance Insurance Consulting Marketing 116

BCG

AUGUST 21, 2016

Yue, a 38-year-old mother in Beijing, knows all about the limitations of health insurance in China. Her public insurance allows her to go to public hospitals to get routine care, but those hospitals are crowded and confusing to navigate. But the private hospital didn’t accept public insurance, and Yue ended up paying RMB 10,000 ($1,500) out of pocket. Today, the vast majority of people in China are part of a public insurance system that is inefficient in many ways.

Insurance 54

Insurance Insurance Policies System 54

MishTalk

JANUARY 3, 2017

Fukoku Mutual Life Insurance in Japan is about to replace claim adjusters with a software robot from IBM. Manufacturing jobs have already been decimated by robots. White collar workers are next in line. more…). Economics

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Insurance Insurance Software 47

The Fearless Marketer

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. This opening relies on the stereotype of the obnoxious insurance salesperson. It wouldn’t work too well to suggest that insurance salespeople are obnoxious and that they need to be less so.

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Marketing Insurance Insurance Finance 74

Harvard Business

JANUARY 11, 2021

There’s literally not enough money to keep the system afloat in the event of a major attack. Strategy Technology Risk management Digital Article

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Insurance Insurance System Strategy 38

Seth Godin Blog

MAY 8, 2019

There are people in your inner circle who trust you. Family members, close work colleagues, college alumni, dear friends–they will give you the benefit of the doubt. Think twice before turning this circle into prospects by selling them products and services. First, it doesn’t scale. You don’t have enough relatives to cash in on. But far more important, these relationships are precious. These are the people who will help you level up, who see you, who care about your future.

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Insurance Insurance Productivity 26

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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Insurance Insurance Healthcare Industry 20

BCG

DECEMBER 15, 2016

Article Thursday, December 15, 2016 Life insurers are feeling the squeeze. In their efforts to adapt to this upside-down world, life insurers are focusing on optimizing their investment strategies and operations. As each side of the business jockeys to promote its own agenda, a life insurer can quickly lose sight of its long-term goals. The industry’s overall business growth has stalled, and investment income has become a critical mainstay.

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Insurance Insurance Cash Flow Finance 68

BCG

MAY 9, 2017

Though solid performance in the fast-growing North American market and in the UK has buoyed London Market insurers, they must improve in emerging markets, reinsurance, workforce diversity, and innovation. Article Tuesday, May 09, 2017. Article

Insurance 40

Insurance Insurance Marketing 40

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. Technology Disruptive innovation Founders Audio

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Insurance Insurance Industry Company 40

MishTalk

MAY 12, 2016

Healthcare insurers are already taking it on the chin. Some insurers got out of the healthcare business entirely, others stopped … Continue reading → Economics

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Healthcare Insurance Insurance 44

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. Aon encourages all management consultants to consider the Professional Liability Insurance program. About Affinity Insurance Services, Inc.

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Insurance Insurance Ethics Nonprofit 100

Harvard Business

OCTOBER 30, 2020

Decisions you make today will determine whether you’re facing financial chaos — or just a bad day at the office. Risk management Crisis management Security & privacy Digital Article

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Insurance Insurance Financial Management 46

VRWorld

DECEMBER 21, 2017

a venture-backed insurance startup, to provide some reassurance against unexpected events for riders who will be testing its upcoming autonomous shuttle service. The insurance coverage will include several protections for passengers for the duration of each trip including lost property, trip interruption benefits, and medical expense reimbursement. Based in San Francisco, all insurance in the US is delivered byTr?v v Insurance Solutions, LLC, a licensed insurance producer.

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Insurance Insurance Transportation Operations 48

MishTalk

SEPTEMBER 22, 2014

Link if video does not play: Why Your Plan Was Cancelled: Health Insurance and the Affordable Care Act. What reason might insurers have to cancel plans? There are lots of reasons why your health care plan may have been cancelled but this one is arguably the most bizarre. Please play the video or the following discussion will not make much sense. I am automatically skeptical of such videos and articles. So I did some digging. It appears the video has it right. "

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Insurance Insurance Video Healthcare 60

MBO Partners

NOVEMBER 2, 2017

What you need to know about business insurance as an independent contractor

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Insurance Insurance 28

Tom Spencer

OCTOBER 16, 2021

Insurance. As the frequency of natural disasters increase, insurance companies are starting to include climate science and the projection of environmental hazards into actuarial assessments, thereby moving away from the traditional reliance on historical data.

Financial 85

Financial Insurance Insurance Banking 85

MBO Partners

MARCH 28, 2018

Learn the benefits of small business insurance and how to decode what the terms in your policy mean

Small Business 30

Small Business Policies Insurance Insurance 30

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

Strategy 28

Strategy Strategy Strategy& Operations 28

Tom Spencer

SEPTEMBER 29, 2013

Invest for the future, reduce your debts, and insure your income. Insure Your Income. One way to protect your lifestyle and your family is to take out insurance: life insurance, income protection insurance, and property insurance. Although Income Protection Insurance is an often overlooked option, it may be a sensible one since it can buy you time to recover in the event of an unexpected illness or injury.

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Insurance Insurance Financial How To 75