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.

The World Insurance Report 2016 – Report by Capgemini and Efma

Article Synopsis :

The evolution of the Internet of Things combined with changing behaviors and preferences from Gen Y customers is pushing the insurance industry in new directions.

 The Digital Insurer reviews Capgemini’s Report on The World Insurance Report 2016

Strategies for connecting with Gen Y is the key focus of this year’s World Insurance Report 

This year’s “World Insurance Report” by Capgemini and Efma explores how insurers are  transforming to keep pace with changing market demands. The report, based on a survey of more than fifteen thousand respondents globally, builds a comprehensive view of the motivations, habits, preferences and behaviours of the Gen Y customer segment. Key findings include:

Insurers around the globe improved overall customer experience levels, but a generational disparity was evident with Gen Y customers having customer engagement scores nearly 20 percentage points lower than customers in other age brackets.

Gen Y and the Internet of Things (IoT) will act as major disruptors to traditional insurance impacting everything from risk assessments to customer interactions. As connected technologies take hold key risk variables face realignment leading to fundamental changes in product development, underwriting, and risk management.

The competitive threat from technology firms is growing. Globally, almost a quarter of Gen Y customers are likely to purchase insurance from a technology firm, compared to older customers. This trend is especially strong in the emerging markets of Latin America (49.0%) and developing Asia-Pacific (47.2%).

Affluence, more than age, may be a better predictor of early adoption of the Internet of Things. Affluent Gen Xs, for example, are more likely to adopt new technologies than non-affluent Gen Ys. Technologies related to IoT, including smart ecosystems, wearables and driverless cars, are expected to have a large impact on daily consumer life and, in turn, insurance service providers.

The report also contemplates responses from over 150 insurance executives in 30 countries aiming to help insurers devise strategic responses to coming changes. Recommended actions include:

  1. Assess current levels of digital customer experience with an eye toward Gen Y customers who are difficult to please.
  2. Better understand Gen Y customers in terms of (digital) engagement.
  3. Size up the competitive threat from Internet of Things (IoT) realizing nearly one-quarter of Gen Y customers are likely to purchase insurance from a technology company.
  4. Understand rates of technology adoption in your customer base with an eye to affluence as the primary driver.

The report also explores the short-, mid- and long-term business implications of digital capability-building, customer research and strategy.

Link to Full Article:: click here

Digital Insurer's Comments

It’s understandable why this year’s edition of the World Insurance Report focuses on Gen Y. a) They’re the wealthiest segment of future insurance customers, and b) They typically purchase services via digital channels, not necessarily a strength for legacy insurers.

The industry needs to focus on mobile engagement strategies leveraging social media platforms. Solutions offering instant gratification through self-servicing will help insurers connect with a generation of buyers owning very strong digital attributes.

As Gen Y consumes more insurance legacy carriers will either meet them on their smartphones or lose them to competitors who will.

Link to Source:: click here

Comments

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