Insurers take lead from customers in developing digital strategy

To achieve success from digital initiatives, insurance companies need to listen closely to what their customers want and be ready to identify the winning solutions in the marketplace for delivering that experience. That’s according to leaders from AIG, Farmers and more who spoke at the Insurtech Connect conference in Las…

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23 more insurers sign on with blockchain consortium

The Blockchain Insurance Industry Initiative has added 23 new companies to its Market Testing program. These entrants bring the total number of consortium members to 38. B3i started last year with five members before adding 10 more earlier this year. The latest cohort has signed on following a successful prototype…

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Swiss Re tackles underinsurance with analytics

Swiss Re is using predictive analytics and a team of data and behavioral scientists to close a growing protection gap in the U.S. life insurance market. The reinsurer estimates the average household is underinsured by $378,000, creating a $20 trillion need for coverage among 70 million families. Its life insurance…

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Information silo

An information silo is a business division or group of employees within an organization that fails to communicate freely or effectively with other groups, including management. When an organization’s culture does not encourage employees to share knowledge and work collaboratively, information silos can grow quite quickly and prevent the organization…

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IUA members to be consulted on London Market TOM

Scyllogis understands that the IUA has announced that it is to consult with its member companies on the London Market Target Operating Model (TOM) which comprises at least eight business process modernisation projects. IUA members have already been exposed to TOM via Market-wide publicity and also discussions within the IUA’s…

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