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According to McKinsey’s latest “Global Innovation Survey,” more than 80% of executives believe innovation is an important aspect of their growth strategy. However, only 6% are anywhere near satisfied with innovation performance. This is a monumental gap but it’s not...
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Insurtech
By now, the stories are all too familiar… …Brittany wants to protect her family by seeking a term insurance policy. She selects a name-brand carrier and starts to fill out the application. But many of the questions are generic, repetitive, and irrelevant, based on the...
From optimizing productivity, digitizing distribution, and building a resilient enterprise, today’s insurers are facing several challenges. To accomplish these goals and scale with ease, insurance carriers must make digital transformations and adopt a resilient...
Low-code/no-code technology is a huge buzzword in today’s insurance market. Seemingly every vendor is either talking about it or claiming to have it. But what is it, exactly, and how do the technology and business sides of insurance benefit from it? Let’s start with...
Life insurance has traditionally been an arena where customers were unlikely to move around much, but this has changed. Competition has stiffened, and people have access to new digitally-driven policies. As a result, simply making experiences convenient for customers...
Are you still relying on inefficient, outdated legacy technology systems out of fear that upgrading will be too risky? If you are, this is likely holding your health insurance business back from creating an exceptional consumer experience and meeting the demands of...
Now more than ever, your customers’ employees are looking for a digital open enrollment experience for benefits insurance. They’re used to shopping for all products online. Why should their benefits be any different? Last year, at the height of the pandemic, 63% of...
Legacy systems, whether a few years young or decades old, simply were not designed for today’s business models and fast integrations. In fact, according to our “2020 Insurer Compass Report,” 88% of insurance professionals believe legacy systems are actually preventing...
Today, an insurer can still compete and win based on products. Tomorrow, it’s a different story. Customers are demanding insurers reimagine the customer journey, making it faster, more convenient, and most importantly: customer-centric. Life insurers have success...
As someone who’s constantly on the lookout for books, podcasts, shows, or movies that provide insights into great leadership and coaching for the insurance industry or in general, I often get suggestions from my friends. Several months ago, a few friends recommended I...
