ERM is about viewing the various levels of an insurer and building an informative risk profile to determine how much risk an organization is facing in order to determine the best use of capital.
With the cost of insurance increasing and profitability impacted, insurers need to look at their broader portfolio and find ways to assess potential losses, predict their impact, and initiate loss prevention strategies more accurately and precisely.
How can insurers make themselves more valuable to SMBs that need them more than ever in a rapidly changing risk environment?
Think of data as talent and imagine that you have been placed in charge of hiring someone who will lead your organization into the future with a whole new approach.
As carriers look at their overall current and potential product offerings, they should have alignment across the enterprise in order to invest the time and money needed into making their absence solutions solve the needs of the marketplace.
Over the last seven years, we have seen three digital eras of insurance innovation and how insurers are now capitalizing (or not!) on what they have learned to firmly establish themselves as the next generation of Leaders. How do you compare?
The silver lining of the pandemic is that it forced small businesses to change their minds about preparing and running in a different kind of race. It requires a new mindset to adapt to continuous changes.
If you understand how effective an API gateway can be protecting insurance enterprises, and how easy it will be to implement, you may be adding it to your list of must-haves.
In this, the fifth in a series of blogs on distribution management, Denise Garth is joined by Luke Suczewski and Haley Wellener, both members of PwC’s Insurance Transformation practice.
State PFL/PFML laws will continue to spread, but we can all take action to reduce the challenges they create and improve the experience for everyone.