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Building new digital businesses in insurance
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.
Insurance Related Topics 
CEO brief: The future of business building in 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
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Revolutionizing insurance: The personalized insurance engine
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
How insurers can act on the opportunity of digital ecosystems
McKinsey & Company
MARCH 30, 2021
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
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. 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.
Global Insurance Pools statistics and trends: An overview of life, P&C, and health insurance
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
Scale matters … to an extent: Playing the scale game in insurance
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
Insurance productivity 2030: Reimagining the insurer for the future
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
How insurers can reimagine G&A for the next normal
McKinsey & Company
JUNE 9, 2021
Insights on Financial Services Financial Services InsuranceThis often-overlooked function can yield significant cost savings.
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. For the insurance industry, the cloud has proven itself in three distinct areas: access to data, scalability, and trust and reliability.
A digital-business builder: An interview with the CEO of Allianz Direct
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.
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A better approach to M&A in North American insurance
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.
How insurance can help combat climate change
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
Motor Insurance 2.0
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.
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. 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
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. 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.
How insurance can prepare for the next distribution model
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.
New Technologies in the Insurance Landscape (Part 2 – Blockchain)
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
Future of insurance: Unleashing growth through new business building
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.
State of property and casualty insurance 2020
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
Top ten myths of technology modernization in insurance
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.
Scaling agility: A new operating model for insurers
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
Ecosystems and platforms: How insurers can turn vision into reality
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.
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.
Creating value in US insurance investing
McKinsey
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
A unique time for chief risk officers in insurance
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
Africa’s insurance market is set for takeoff
McKinsey & Company
DECEMBER 16, 2020
Five strategic considerations to help guide insurance companies on their journey to success in Africa. Middle East and Africa
Beyond COVID-19: Charting the road to recovery for South African insurers
McKinsey
NOVEMBER 2, 2020
Seven big moves that could help insurers navigate the crisis and thrive in the long term. Middle East and Africa
Reimagine insurance: Five keys to innovation
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
The multi-access (r)evolution in insurance sales
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
Rewriting the rules: Digital and AI-powered underwriting in life insurance
McKinsey
AUGUST 1, 2020
COVID-19 reinforces the urgency to make life insurance purchasing simpler and more digitally enabled. Insights on Financial Services
Transforming the talent model in the insurance industry
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
2019 global insurance trends and forecasts
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
The insurance switch: Technology will reshape operations
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
Liquidity Insurance
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.
Insurance strategy in Asia: Using programmatic M&A during the pandemic
McKinsey
OCTOBER 27, 2020
Few insurers thrive by relying solely on organic growth. Insurers operating in Asia must make M&A and other forms of inorganic growth strategic priorities. Insights on Financial Services
Reaching the next normal of insurance core technology
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.
Climate change and P&C insurance: The threat and opportunity
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
How Indian insurance companies can respond to coronavirus
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
Product innovation: The new imperative for insurers in Asia
McKinsey & Company
MARCH 3, 2021
Incumbent insurers in Asia find product innovation challenging. Developing products to respond to customer needs, not risks or competitor actions, will be crucial. Insights on Financial Services Financial Services Asia-Pacific
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