If a portion of the profit share or bonus expense hits against the current year’s income instead, this can be a significant risk for the company and its shareholders.
Given the strategic nature of the IoT to insurers, it will probably pay to commit and invest in developing a broader, open, non-proprietary smart home solution that can scale over time.
Conversational virtual assistant solutions are proven to increase policyholder satisfaction and need to be considered as an integral part of customer experience innovation.
Technology that is focused on the customer experience is a necessary component to carriers achieving the level of brand loyalty that brands such as Amazon have.
Four qualities voluntary benefits technology should have, and four benefits that flow from them.
A brief exploration of organizational models and areas of focus to develop synergies between actuaries and data scientists and maximize the potential of data science for the insurance enterprise.
EagleEye Analytics is an ideal acquisition whereby Guidewire can help clients to deploy and leverage analytics across the entire enterprise from claims to underwriting to product development and distribution.
Omnichannel supersedes simpler multichannel approaches and enables insurers to operate with agility in distributing new products through a variety of distribution channels, while also providing a consistent customer experience across all communications channels.
New types of data and ways of analyzing them have the potential to bring the insurance industry to a new level of insight, but the potential won’t be fully realized until insurers raise data analytics to the strategic level.
Successful integration can include a host of transformational paybacks, including breakthrough best practices for risk evaluation, workflow improvements, product flexibility and scalability, more accurate pricing, and lower loss ratios.