Google Tanslate

Select Language

Sign up and be the first to know

About Hugh Terry & The Digital Insurer

Hugh Terry & The Digital Insurer Video

Contact Us

1 Scotts Road
#24-10 Shaw Centre
Singapore 228208

Write an article

Get in touch with the editor Martin Kornacki

email your ideas at [email protected]

Pre Registration Popup

itcasia2020 Registration Popup

Share Popup

Prime Member: Find out more

Access a unique programme!
  • 56 pre recorded lesson of online content from industry experts over 7 courses
  • The best in digital insurance for practitioners and by practtioners
  • Online MCQ after each lesson
  • Join the discussion forum and make new friends
  • Certificate upon completion to show your expertise and comitment
  • 3 months to complete
  • Normal price US$1,400 Your Prime member price is US$999
  • Access to future versions included in your Prime membership!
Become a member

Prime Member: Contact Us

REach out to us. Please fill up the form below
  • Let us know how we can help. You can expect a response within 24 hours

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.

EY: NextWave Insurance – large commercial and reinsurance and how insurers can redefine the possible on the journey to 2030

Executive summary 

The large commercial and reinsurance industry finds itself simultaneously at serious risk of disruption and on the precipice of critical transformation. While the upside is compelling, a number of challenging fundamentals must be addressed if commercial insurers are to seize the opportunities:

 The Digital Insurer reviews EY’s Report on NextWave Insurance: large commercial and reinsurance How insurers can redefine the possible on the journey to 2030

Commercial and reinsurance still has a very bright future

  • The impact of the COVID-19 outbreak threatens reserves, highlights the need for new protections, and underscores the unsustainability of current cost structures.
  • Customers want less friction in the buying process, more transparency, higher-value outcomes, and the kinds of streamlined and intuitive experiences that are the norm with other suppliers and sectors.
  • Today, intangible assets — such as intellectual property (IP), patents, brands and reputations, networks and virtual operations — generate far more business value than tangible assets. This profound shift, which has occurred during the last 20 years, requires insurers to offer new products and protections.
  • Younger workers think of insurance as dull and outdated, if they think of it all. New types of employment and working relationships, including those in the “gig economy,” require insurers to rethink their approach.

The bottom line: the tech-driven disruption that has occurred in media, retail, transportation, and other sectors is coming to large commercial insurance — and coming soon.

If the situation sounds grim, there is reason to believe that the industry’s best days lie ahead. From our extensive global research into current market conditions and future trends, we conclude that an unprecedented growth and profitability spike is within reach. Once the industry navigates through the immediate impact of the coronavirus, considerable opportunity will present itself, and insurers will accelerate the transition to loss prevention and risk advisory services critical to their future success.

There is a large caveat, however: these gains will only be realised if the industry, which has changed less than most other sectors, becomes much more dynamic and agile. The necessary changes and related market developments are described in the following sections of this report. One major vector of change will be the emergence of a fully connected value exchange that replaces the traditional linear value chain. Core transactions and relationships will evolve as stakeholder roles become more specialised. Integrated technology and real-time data will enable direct interactions and fluid collaborations, without old constraints. The right stakeholders can play the right roles for the right deals. In the aftermath of the COVID-19 pandemic, the evolution to a more strategically aligned and synergistic value exchange has become imperative. See “From value chain to value exchange,” page 16 of the report.

This evolution is contingent on pervasive technology enhancements and a commitment to use data more extensively and intelligently. Advanced connectivity — including standardised and transparent data flows and integrated technology — is critical. Such connections enable companies to deliver tailored services that customers want (e.g., loss prevention) and align incentives for all stakeholders.

Eliminating these unnecessary inefficiencies presents great innovation and growth opportunities. New business models will emerge to meet specific customer needs and serve distinct market niches. See “Seven future business models,” page 19 of the report. Of course, firms that cling to existing models and the old ways of working will be at risk of being acquired or seeing their businesses shrink organically. Those that make the right bold decisions and change effectively will translate opportunity into results. See “10 high-impact market scenarios,” page 28 of the report.

The large commercial insurance and reinsurance sector is entering a time of turbulence. Whether it’s also a period of breakthrough innovation and sustained growth is a question very much in the hands of market participants.

See the full report for more…

Link to Full Article:: click here

Link to Source:: click here

Livefest 2019 Register Popup Event

Livefest 2019 Already Registered Popup Event

Livefest 2019 Join Live Logged-in Not Registered

Livefest 2019 Join Live Not Logged-in