5 ways to simplify and reinvent your insurance enterprise | Insurance Blog
In a context of ongoing disruption, insurers are being called to reinvent themselves. In order to transform on an operational level, insurers need to move from complexity to simplicity. This alone is a daunting task. Composable architecture helps insurers to simplify this complexity at every step of the insurance value-chain, often using processes already at […]
New consumer paradigms for insurance | Insurance Blog
The way consumers shop for insurance has greatly changed over the past 20 years. From the rise of digital direct (and more recently, embedded) to having the option to provide data for better prices, consumers have more influence than ever before. The core elements underpinning these changes, increasing capture and use of data and the […]
The inclusive insurance opportunity | Insurance Blog
Leading insurers are defining new revenue paths while contributing to communities in the process. This is defined as inclusive insurance, a concept that is playing a key role in the insurance industry’s evolution. Take two of the major global carriers, Generali and Allianz: Generali has created The Human Safety Net, to support families living in […]
New strategies for P&C claims litigation management | Insurance Blog
According to AM Best Financial reports, between 2018 and 2023, litigation management costs for the combined Property & Casualty industry increased by 19%, amounting to an increase of $4-5 billion, or for context, bringing total litigation expenses to ~$24B of LAE. In both personal and commercial lines, carriers have experienced the adverse effects of social […]
Insurance News: The generative AI opportunity and importance of responsible implementation | Insurance Blog
As with any new technology, as well as the opportunities it opens up, there are concerns about unintended consequences of generative AI and the need for responsible implementation. We were delighted to be in the hotspot usually claimed by Kenneth Saldanha in this episode of Insurance News Analysis to discuss this important topic and were […]
Insurance News: 2023 in review | Insurance Blog
As we bid farewell to 2023 in this final Insurance News Analysis of the year, we are happy to welcome Cory McAnelly, Assistant Vice President of Enterprise Innovation Strategy at Principal, to join as we delve into what made the headlines this year. We start with a recurring theme: generative AI. Cory brings his perspective […]
Allstate completes sale of Employer Voluntary Benefits business
NORTHBROOK, Ill., April 1, 2025 – The Allstate Corporation (NYSE: ALL) today completed the sale of its Employer Voluntary Benefits business to StanCorp Financial Group, Inc., (The Standard) for $2.0 billion. “The sale of the Employer Voluntary Benefits business improves the growth opportunities of a highly successful business, creating additional value for Allstate’s shareholders,” said […]
5 predictions for the insurance industry in 2024 | Insurance Blog
As we look ahead to 2024, while we see many challenges for the insurance industry, we meet these with optimism. Insurance is a resilient industry with a deep sense of purpose—offering people, families and businesses protection and a more secure future. What’s the macro-economic outlook? Global macroeconomic forecasts for 2024 indicate both slowing GDP growth […]
5 key generative AI use cases in insurance distribution | Insurance Blog
GenAI has taken the world by storm. You can’t attend an industry conference, participate in an industry meeting, or plan for the future without GenAI entering the discussion. As an industry, we are in near constant discussion about disruption, evolving market factors – often outside of our control (e.g., consumer expectations, impacts of the capital […]
Maximizing investment in policy administration systems | Insurance Blog
Today’s cloud-based policy administration systems (PAS) are designed to enable both P&C and Life insurers to manage policies through their entire lifecycle and are the foundation of carriers’ digital strategies. These types of platforms are a boon to carriers looking for ways to enhance their customer relationships and develop more effective offerings but many carriers […]