From Siri to our investments, the use of artificial intelligence to make decisions has expanded rapidly in the last five years. As we’ve seen in this series, this trend is ...
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The post Will robo-advice make human insurance agents vanish? appeared first on Accenture Insurance Blog.
On April 26, I had the pleasure of attending the Efma-Accenture Innovation in Insurance Awards, held in London, England. The awards, which began in 2016, celebrate and promote cutting-edge innovation ...
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The post Efma-Accenture Innovation in Insurance Awards 2017 winners: Generali named the Global Innovator of the Year appeared first on Accenture Insurance Blog.
The insurance industry, the Economist wrote this spring, is a “relatively placid backwater” in the world of finance. The fundamental product of insurance has few substitutes, leading to an easy existence for insurers and “a complacent refusal to modernize,” according to the British publication. Startups like Lemonade, Friendsurance, and Quilt are looking to capitalize on…
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The insurance industry is sometimes seen as conservative and slow-moving. It has generally avoided the rapid, consumer-facing digital disruption which has revamped industries like publishing, music, or even investment advice. Some industry observers and startups, as we saw last week, believe that insurance is overdue for such change. One area of the industry that is…
The post 4 insurance examples of touchpoint refinement appeared first on Accenture Insurance Blog.
The insurance industry has avoided the wide-scale digital disruption seen in some other industries. But, as demonstrated by the growing amount of investments insurtech firms are attracting, new ideas and new competitors are entering the market. As we saw last week, this creates an opportunity and an imperative for insurers. One important area for innovation…
The post Touchpoint innovation: 6 powerful examples appeared first on Accenture Insurance Blog.
Most people fear a bad decision, whether it involves adopting or investing too quickly in a flash-in-the-pan technology or totally missing the boat. Cryptocurrency has elements of both. Let’s go back a few years. When the elusive “Satoshi Nakamoto” introduced the concept of blockchain — the distributed ledger — in an October 2008 paper “Bitcoin:…
The post The $20 million pizza and other cryptocurrency uses appeared first on Accenture Insurance Blog.
In the beginning (2009 and Satoshi Nakamoto) there was Bitcoin. The groundbreaking blockchain-based cryptocurrency was soon joined by other “altcoins,” the term for every cryptocurrency that’s not Bitcoin. Today, more than 900 cryptocurrencies are listed on the Internet — some quite sophisticated, others little more than concepts with names and a little cash behind them.…
The post All Cryptocurrencies are Not Created Equal: Bitcoin and Beyond appeared first on Accenture Insurance Blog.
Short Answer: No Long Answer: If you are working in the insurtech or blockchain space then awareness is beneficial. Initial Coin Offerings (ICO) are events where a startup or early stage company (often blockchain or cryptocurrency related) sells to the public some of its tokens or app coins in a formalized offering. The money, which…
The post Do insurers need to pay attention to ICOs? appeared first on Accenture Insurance Blog.
Traditional insurers are taking lots of first meetings with leading insurtech companies. However, not many tend to take a second meeting. Earlier this month, Accenture hosted the Life Insuretech Summit in New York, where we brought together leading insurtech firms and carriers to discuss how technology is changing the industry. What is clear is that…
The post Insurance Innovation: Are you on the ‘Naughty List’? appeared first on Accenture Insurance Blog.
Last time, I used my blog to showcase the way innovative startups are reinventing core areas of the Life, Pensions & Investments (LP&I) market. These venture-funded fintechs and insurtechs all have one thing in common: they’re totally tuned in to the desires of the all-important next wave of customers. Their products and services are engaging,…
The post Ignite the innovation journey within LP&I appeared first on Accenture Insurance Blog.
In this series, I have been looking at innovation within LP&I and asking what can be learnt from the new wave of fintechs and insurtechs entering the market; I’ve also suggested how LP&I firms can kickstart innovation within their own businesses. As part of this series, I thought it would be a great idea to…
The post What do your customers (and employees) of the future actually want? appeared first on Accenture Insurance Blog.
In this series to date, we’ve explored innovations that are hurtling ahead in the financial services industry, what LP&I companies can do to ignite innovation and what customers and employees of the future actually want. We’ve had great feedback and interest in the issues we’ve covered to date. One key theme has been the innovation…
The post The ‘Secret Sauce’ of Innovation for Insurers appeared first on Accenture Insurance Blog.
Highlights In this episode of the Accenture Insurance Influencers Podcast, we speak with Lex Sokolin, a noted futurist and fintech entrepreneur. Insurers naturally focus on the trends within the industry, but there is much to learn by looking elsewhere—for example, to see how banking and wealth management have dealt with digitization and disruption. Within insurance,…
