Posts Tagged ‘insurance’

Throughout history and across cultures, women have been forbidden from opening bank accounts, owning property, and taking out loans. Fortunately, most societies today don’t legally bar women from partaking in these tasks, but the ancient history of shutting doors on women seeking greater financial control has left an undeniable gender gap in the world of […]

In our last blog, How Embedded Finance is Changing Purchasing & Borrowing Behaviors, we looked at embedded payments and loans and why companies would want to offer (increased sales, lower inventory, processing costs, data gathering) these bank-like services. In this blog, we’re going to stay in the world of finance, but pivot to embedded insurance.  […]

Whether you’re an insurance carrier or a broker, change is here and change is about to accelerate beyond the prior few years when our world was modified in ways none of us had ever seen. Embracing Change I’m sure this isn’t the first opinion piece you’ve read where someone has laid out the trends that […]

Hurricane Ian slammed into Florida’s gulf coast and Georgetown, South Carolina, on September 28, leaving countless businesses and homes — if not wholly destroyed — drowned with flood water and without power. The Insurance Information Institute, an industry-funded research group, estimates that Ian has caused at least $30 billion in damage. Now that the storm […]

Our insurance team is just returning from InsureTech Connect (ITC). What a great week in the desert! ITC is one of the, if not largest, industry gatherings of insurance carriers, solution provers, implementation partners, and startups. Over 2,400 companies were in attendance, and it was said that there were over 8,500 attendees present this year. […]

In our previous blogs, we’ve documented how insurance is a complicated product for the traditional commerce process. Let’s recap what we’ve covered: It’s a product mandated by the state, financial institutions, and professions for many parts of life – driving, homeownership, rental, professional liability, and others. But it’s not a product that most of us […]

Recently, Digital Insurance issued the findings from Keynova Group on the 2022 Mobile Insurance Scorecard.  While mobile has long been a part of the carrier offering – pay a bill, get an ID card, file a claim – this survey reflects the evolution of insurers from transactional into personalized servicing. I’ve long advocated that personalization […]

TD Bank Group recently announced its Q4 2021 earnings were up 31% from Q4 2020, despite the challenges brought on by the COVID-19 pandemic. On its earnings call, the company elaborated that this in part was due to its dedicated, people-oriented approach to business. TD emphasized that this elevated focus on the customer experience has […]

Harvard Business Review defines the New Experience Economy as the fourth evolution of economic value, which includes commodities, products, services, and now, experiences. It is at this point where the product is most differentiated and pricing most premium. In a commoditizing marketplace such as personal lines, a personal experience is an opportunity for carriers to […]

Data fuels the engine of the digital economy. Connected experiences, in the context of the customer relationship, are driven by a robust data set that confidently presents integrated, diverse data to enable actionable insights that can be automated across the customer’s journey. Internally, data creates the foundation for increased analytic application of fraud detection, at-risk […]

While the thought of changing policies can be daunting, carriers are throwing hundreds of millions (if not billions) into advertising budgets to make the consumer aware of ways to save by switching. As a result, the industry is experiencing a decline in brand loyalty in favor of pricing. A brand may bring a customer in […]

In my last post, I discussed how insurance companies that demonstrate empathetic knowledge of their consumers and deliver tailored, real-time solutions will build on their noble purpose and gain competitive advantages in a digital operating environment. So, where can you begin? It starts with putting your customer in the middle of your operating model. Instead […]