Insurance News: Building the digital core with data quality

Knowledge high quality and information structure at the moment are acknowledged in insurance coverage and most different industries because the gasoline wanted to deal with our largest challenges. Constructing the digital core of any group solely works when you could have the info high quality to behave on it.  On this version of Insurance coverage … Read more

Why insurers need to rescue underwriters from siloed data

In 2008, Accenture printed the outcomes of the primary P&C Underwriting Survey in partnership with The Institutes. Because the longest-running longitudinal underwriting survey within the insurance coverage trade, this report reveals a holistic image of the place underwriting has been—and the place we’re going. Particularly, it reveals us the connection between the targets leaders set … Read more

What quantum computing means for insurance

Insurance coverage underwriting is basically a data-driven follow. With an more and more interconnected world producing way more knowledge than a person human can course of, computer systems and AI have are available in to assist knowledge evaluation and decision-making. Quantum computing has the potential to vary the best way the insurance coverage trade makes … Read more

Resilience inspires optimism in the insurance industry

Regardless of persevering with market volatility and uncertainty, we’re essentially optimistic about the way forward for the insurance coverage business, which has demonstrated resilience by means of the pandemic and within the face of inflation, losses, and reserve capital requirement headwinds.  As COVID-19 turned a worldwide pandemic in March 2020, the ensuing financial slowdown precipitated … Read more

How to address the urgent insurance workforce gap with technology

The insurance coverage business is experiencing a rising expertise scarcity. Whereas this problem has been anticipated, a lot of the dialogue on options is usually generalized to your complete workforce. However not each job will probably be impacted in the identical approach. As insurers develop, some capabilities will want extra help, whereas others will probably … Read more

Bringing insurance industry innovation to AWS re:Invent

A yr in the past at re:Invent, Accenture and AWS introduced a joint funding to speed up cloud migration and {industry} differentiation for our purchasers. Growing demand in business underwriting made insurance coverage the apparent {industry} to blaze the path. At AWS re:Invent 2024, Anand Premsundar and I’ll speak about how innovation transforms experiences, processes, … Read more

3 life insurance underwriting predictions for 2024

Because the insurance coverage trade continues to navigate the tempo of change, complexity and uncertainty in our world, shoppers proceed to reply, anticipating corporations to be extra attentive to their wants. This 12 months’s underwriting predictions supply steering on how carriers can reply quicker. 1.  Evolving cognitive applied sciences will assist insurers seize alternative from … Read more

Insurance News: Generative AI experience, efficiency and risk

Each day we see headlines about generative AI. For the insurance coverage trade, this know-how presents acceleration in lots of areas by which AI-led transformation is already underway. However, like every rising know-how, it additionally introduces new areas of threat. On this Insurance coverage Information Evaluation, Abbey Compton and I are joined by Daria Lee … Read more

Insurance News: The heat is on—from climate change to claims

From catastrophic occasions linked to local weather change to social unrest, the insurance coverage trade is seeing huge claims. Whereas some dangers are extra simply predicted than others, new knowledge sources might assist insurers and prospects discover methods to show down the warmth. On this Insurance coverage Information Evaluation, Abbey Compton and I speak about … Read more

Insurance News: When states are the insurers of last resort

The insurance coverage business and public sector each play a essential function in serving to to mitigate danger for patrons and constituents. However, as prices to insure property and long-term care within the U.S. rise, states more and more turn into the insurers of final resort. On this Insurance coverage Information Evaluation, we give attention … Read more