ALL INSIGHTS

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Raising Returns on Analytics Investments In Insurance

– While insurers are investing in analytics, few are seeing the impact they expect. According to a McKinsey survey of data and analytics... leaders at global life and P&C carriers, the main obstacles are lack of strategic alignment, limited integration and front-line adoption, and poor data quality. A number of concrete initiatives can help carriers overcome these challenges and tap the full potential of their investments.
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A ‘nudge’ for the better in claims journeys

– Companies tend to assume that customers, employees, and suppliers always behave rationally.
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Harnessing the potential of data in insurance

– Insurers collect a wealth of data, but few have found a way to monetize this asset. New “data as a business” models point the... way forward.
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Time for insurance companies to face digital reality

– Regulation, product complexity, and insurers’ large balance sheets have kept digital attackers from insurers’ gates. That is changing,... but in ways incumbents should embrace. They can flourish in the digital age—if they move swiftly and decisively.
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Navigating through uncertainty in US commercial insurance distribution

– In order to continue to thrive in the changing landscape, US commercial lines insurers will need to enhance the value they deliver... and develop new services that meet the evolving needs of brokers and insureds.
Report

Harnessing the power of digital in life insurance

– Big data and advanced analytics will enable a wide range of new business applications for life insurers, empowering sales forces... and better serving consumers.
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Remote advice in life insurance: A new route to the customer

– In a challenging environment for life insurers, the remote advice model offers the potential to deepen customer relationships,... reduce costs and increase productivity.
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Insurers need to plug into the Internet of Things—or risk falling behind

– Insurance companies have a great opportunity to benefit from the new range of business models emerging due to the Internet of... Things.
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The hallmarks of digital leadership in P&C insurance

– The new bar for property and casualty carriers is not simply to invest in technology, but to focus on the practices most correlated... with strong financial and customer performance.
Report

Rethinking US life insurance distribution

– Slow growth in the US life insurance industry has been a persistent challenge for years. More recently, changes in customer behavior... are making this challenge even more complex. But these behavioral shifts may also hold the key to revitalizing growth through new approaches to distribution. A portfolio of three distinct distribution models, which jointly address the range of consumer needs—from tech-enabled face-to-face advice to remote channels—can set the stage for life insurers to grow and develop stronger ties to their customers.
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The growth engine: Superior customer experience in insurance

– Companies that offer best-in-class customer experiences grow faster and more profitably. To reach this level, insurers must relentlessly... improve customer journeys across channels and business functions.

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