Overall insurance companies with diversified business, sound investment patterns and good reinsurance coverage will survive and grow after some short-term pain.
OCC’s digital transformation included a new homepage, a new brand/logo, a new corporate design, a new tone of voice, an online calculator for insurance rates, the possibility to take out insurance online and also to manage contracts online.
Migration to cloud allows insurance and financial companies to focus on their core business and innovation during the good times, and weather the storms during major challenges, rather than investing in costly infrastructure and then spending hard-earned money on IT and application support.
The more that people and businesses get used to operating remotely via digital tools, the more it will be expected—even after the COVID-19 is contained.
The advent of mega-brokerages creates possibilities to reshape client-broker-carrier interactions and preserve—and even extend—the influence of the independent channel.
A significant economic downturn will hurt P&C insurers’ financial results, and when P&C insurers’ finances decline sharply, there is an impact on their technology spend.
How European insurers are weathering the COVID-19 crisis, and five lessons learned for the benefit of markets that are yet to feel the full force of the pandemic.
AAU gives underwriters the ability to spot patterns and connections that are either invisible to the human eye or which typically take unfeasible amounts of time and resource to identify.
As of this week, many development teams will be having their first experience with remote Agile. Even those experienced with occasional work-from-home or geographically dispersed members may still find themselves in uncharted territory when forced into a 100 percent remote mode of operation.
The industry is still waiting for a major advertising push to drive the widespread adoption of direct online small commercial sales, but Novarica estimates that the $3B direct small commercial market could grow to $12B by 2025.