Cybercrime is one of the biggest threats that insurance companies will face, particularly as distributed workforces become the norm during the COVID-19 pandemic. Prior to the pandemic, cybersecurity threats faced by insurance companies have already been growing and evolving at an alarming rate. This has been spurred by many factors, including the internet of things […]
Often, insurance services opt to have in-house solutions or go for third-party products to automate some if not all of their processes. These solutions or products take the form of software applications. When choosing or developing software for an insurance company, there are three aspects to keep in mind: API, web services, and microservices. These […]
Wearables and fitness-tracking technology have witnessed rapid growth in recent times. International Data Corporation reports that one in every five people in the U.S owns a wearable fitness device. It also estimates that annual shipments will exceed 250 million devices by 2021. Given the ability of technology to provide critical data, the wearables revolution continues […]
Top Five Trends for the Industry Insurance companies are only beginning to harness the potential of artificial intelligence (AI) and robotic process automation (RPA). AI refers to computer systems that can mimic human capabilities by learning and solving problems. RPA is an emerging form of business process automation technology based on using software robots or […]
The insurance industry used to be a tech laggard. No more. Though there’s still much work to be done, most insurers are now better positioned to capitalize on their investment in technology. Here are eight key technology trends that continue to shape the industry. 1. Greater stress on cybersecurity An Ernst & Young security survey […]
In the complex, diverse insurance industry, it can be hard to reconcile theory and practice. Adapting to new processes, systems, and strategies is always challenging. However, with the arrival of new opportunities driven insurtech, cultural transformation will go smoother. Insurance companies that are considering how to plug into the insurtech landscape should understand the various models […]
Losing business to insurtech or even DSB’s (digital savvy brokers) ? Whether the majority of your business is online or in-office, it is crucial for you to have the right tools to help you capitalize on the insurance market and get ahead of competition in a changing landscape. It does not matter what type of […]
Businesses are more connected to consumers than ever before. The Internet of Things (IoT) is predicted to support more than 20 billion devices by 2020, according to Gartner. This is a market that comprises 60% of consumers worldwide, creating huge opportunities for industries to connect and engage with their customers. Connecting with consumers hasn’t always […]
4 Tips to Drive Corporate Culture It’s about 1:00pm on Friday as I step back into the office to the sound of foosballs. Laughter is coming from the lunch room. Instructions to the latest board game are being explained and friendly competitions are re-ignited. In the quest for success, as in life, it is important to […]
Life, group and voluntary benefits insurance is one of the most competitive verticals in the financial services industry. Strong relationships with customers are crucial to competitive advantage. Engaging customers is a proven way of enhancing relationships. Unfortunately, the insurance industry has one of the lowest rates of customer engagement. Too often, the only contact with […]
