As in the case of other industries, the majority of large insurance incumbents are banding together into consortia to experiment with blockchain.
When one part of a business transforms, it will often come at the cost of some other area of the business; and investments and expansion in new areas will result often in reductions in other traditional areas.
Part I of a nine-part series that will establish a vision and roadmap for a digital generation of enterprise risk management (ERM) and Insurance.
Insurers must enable their front end systems to reach seamlessly to back-end data and processing, making for a much richer customer and distributor experience.
Building a solid framework for managing alternatives can help support insurance companies’ fiduciary responsibilities, ultimately leading to greater confidence in a highly specialized, complex asset class.
If a life insurer’s mobile experience includes paper and pen-and-ink signatures at any point during the transaction, it isn’t a fully digital one.
A trust-and-efficiency engine such as blockchain technology has the potential to drive radical change in the insurance industry.
There needs to be at least as much emphasis on effective underwriting as there is on state-of-the-art tech in order to provide the public viable, effective products.
While compliance does not yield security, security done right does yield compliance, and with three key guidance points, you’ll be much better prepared for adapting to the upcoming cybersecurity requirements.
It’s reasonable to fear the competitive power of Amazon, but here are some questions you should ask yourself in order to formulate your strategy in a world where Amazon may become an insurance industry player.