Presenting a synoptic view of the current state of the issue on hand. Its quick, easy reading and gives a set of key
issues and trends, a few speaking points with its audience and more important, it serves as a quick update saving you many hours of sourcing relevant, quality content.
The insurance industry’s 18 most critical metrics
In this article you’ll learn the most critical metrics that companies in the Insurance Industry should track.
The article does not include metrics such as Profits and Sales that are critical to companies in all industries; rather the focus is on metrics more specific to the Insurance Industry. By tracking your metrics, you will dramatically improve your business results.
Impact of blockchain on the insurance industry
Blockchain is continuously revolutionizing business transactions. It works on the distributed ledger technology wherein each transaction is added to a block and cryptographically coded and settled in a real-time basis. The real-world use-cases of blockchain technology span various industries such as supply chain, finance, transportation, agriculture, judiciary, healthcare, media, education, and more. All of the blockchain applications have great potential, but in the blog, we will understand how blockchain is reshaping the insurance industry.
Artificial Intelligence in the insurance business
Artificial intelligence is likely to affect the entire landscape of insurance as we know it. Change is here, more is coming. Today, the insurance market is dominated by massive national brands and legacy product lines that haven’t substantially evolved in decades. This kind of stagnation has historically suggested that it is an industry ripe to be disrupted.
Strategic Issues: The Pivotal Process for Strategic Success
What is a Strategic Issue?
A Strategic Issue is, first of all, an issue – an unresolved question needing a decision or waiting for some clarifying future event. Secondly, it is strategic and has major impact on the course and direction of the business. It probably relates directly to one or more of the fundamental “Three Strategic Questions”:
General Insurance Article – Regulation still the biggest risk facing insurance industry
The greatest risk currently facing the insurance industry comes from the wave of new regulations which are being introduced at international and local levels, according to a new survey which ranks insurance sector risk.
The CSFI’s latest Insurance Banana Skins survey, conducted in association with PwC, says that new rules governing issues such as solvency and market conduct could swamp the industry with costs and compliance problems. It could also distract management from the more urgent task of running profitable businesses at a time when the industry is under stress.
The survey polled over 600 insurance practitioners and industry observers in 54 countries to find out where they saw the greatest risks over the next 2-3 years. Regulatory risk emerged a clear leader in many major markets, including North America, Europe, and the Far East/Pacific.
Beyond Insurance: The Changing Role and Perception of Actuaries
I often hear the question “What is an actuary?” Well, actuaries are unique in that they have a deep understanding of both business and statistics. Traditionally, an actuary’s differentiator was their ability to make financial sense of extremely long-term horizons—typically those associated with the lifespan of human beings. This naturally lent itself to actuaries working in the age-old fields of life insurance and pensions
However, it is not just an actuary’s grasp of the long term which is unique but also their ability to harness a broad range of academic fields and apply them in a business context. To this end, the Actuaries Institute defines actuaries as professionals who evaluate risk and opportunity – applying mathematical, statistical, economic, and financial analyses to a wide range of business problems.
10 innovative startups in the insurance industry
Examples of clever things new insurance businesses are doing to overcome long-standing pain points, delight customers, and generate new revenue streams.
The State of IP and Innovation in Insurance Industry
One of those areas where technology has spilled its magic dust is the insurance industry. From paper to paperless, handwriting authentication to digital authentication systems, visiting-the-insurance-office-a gazillion-times to –having-all-the-information-in-your-smartphone-a-click-away – the insurance industry has embraced innovation to enrich lives and simplify things.
Technology is changing our lives every day. The insurance covers a majority of objects in and around us. This left us wondering how technology was playing its due part in the insurance industry. What kind of disruptive/incremental innovation was taking place in the insurance sector, harvesting the current technological trends?
To quench our curiosity, we decided to analyze the innovative measures of the top 50 insurance brands based on their brand value. Here’s what we found: