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Arthur D. Little

Arthur D. Little has been at the forefront of innovation since 1886. We are an acknowledged thought leader in linking strategy, innovation and transformation in technology-intensive and converging industries. We enable our clients to build innovation capabilities and transform their organizations. ADL is present in the most important business centers around the world. We are proud to serve most of the Fortune 1000 companies, in addition to other leading firms and public sector organizations. For further information, please visit www.adlittle.com

FINNOVATING

Finnovating is a Matching as a service platform that enables X-Techs from all around the word to connect , collaborate and get the funding they need to grow from investors and corporations globally. The Finnovating platform is a space were the key players of the Tech industry can connect together easily and boost global Tech innovations.

SØNR

Sønr is the world’s most comprehensive source of innovation intelligence. It is a subscription platform used by some of the best known insurance companies globally.

It tracks millions of companies around the world and provides insight on the latest market trends, the startups and scaleups reshaping the industry, and intelligence on how other big insurers are innovating.

Sønr includes a suite of tools designed for teams to better collaborate and connect. From recording meetings to capturing and sharing Notes, to being able to track and share activity across the company using Watchlists and CRM boards.

The platform is backed up by a team of consultants, researchers and analysts who support clients in discovering and creating new business opportunities.

2017 US P&C Insurance Outlook – EY Report

Article Synopsis :

The US P&C industry is at an inflection point. A dynamic technology landscape and policy changes proposed by the new Trump administration require P&C insurers to re-evaluate their strategies.

 The Digital Insurer reviews EY’s Report on 2017 US P&C Insurance Outlook

Technology disruption + policy changes in the US = a re-evaluation of strategies entering the second half of 2017 

To help, EY’s “2017 P&C Insurance Outlook” discusses policy-level changes, shrinking investment incomes, escalating claims costs, rising regulations, advances in technology and the growth of InsurTech in the context of the desire for profitable growth.

Per the report, the key questions CxOs should be asking themselves include:

  • What will changes in political direction mean for P&C?
  • What markets and business segments should we focus on?
  • How can we use new age technologies to streamline costs and attract new business?
  • How can we build an innovative customer driven business?
  • How can we acquire the right talent?

Market share, suggests this report, will be increasingly dependent on technology, data and analytics. Strategic priorities for 2017 should include:

  1. Focus on customer-driven innovation: Accelerate product and service innovation, building millennial-minded strategies and  collaborative business models with inputs from InsurTechs and business leaders.
  2. Use technology to drive top- and bottom-line performance: Deploy robotics to automate routine tasks, applying advanced analytics across the value chain, and building core digital technologies such as cloud, mobility and social media into business processes. Target technology deployments reducing costs and increasing productivity, transparency, and security.
  3. Put cyber risk on the corporate agenda: 2017 will see new forms of cyber attacks, perhaps moving from digital to the physical world owing to the growing use of interconnected devices and machines. P&C carriers and regulators together need to build a full-proof risk management strategy to defend against such attacks. Cyber security can also be seen as a new business opportunity, with insurer’s developing products and solutions around same.
  4. Rethink strategies to attract, develop and retain talent: Insurers must prepare well ahead to secure the right talent. They must analyse current skills gaps and invest in talent programs to attract, develop and retain the right people, especially Millennials.

Link to Full Article:: click here

Digital Insurer's Comments

Sputtering economic growth, low investment incomes, rising claims costs and increased regulation pose daunting challenges for legacy insurers. Add in rising customer expectations in the digital realm, new insurance models, and increasing threats from telematics and driverless cars, artificial intelligence, and even blockchain, and the challenges seem existential.

Focus on the customer, embrace technology, make security a priority, and, above all, hire and retain the right people. We cannot emphasis this last point enough. High quality people, with the right skill sets and can-do spirit (stoked by the right incentive structures), are your most valuable assets in turbulent times. /message_box]

Link to Source:: click here

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