Mixed-mode: The Future of Insurance Distribution
The insurance industry stands at a pivotal juncture, with the emergence of millennials as the dominant demographic in the marketplace. Surpassing Baby Boomers, this group now represents the largest segment of potential insurance customers. This shift is not merely a demographic change but a transformative moment that demands a reevaluation of insurance distribution models.
Navigating the Digital Seas: The Transformation Journey of Life & Annuities in the Insurance Industry
Over the past several quarters, the life and annuities (L&A) sector has emerged as a beacon of growth and potential within the broader insurance industry. This segment’s expansion, while promising, raises pivotal questions about the readiness of life carriers to scale effectively, given their historically antiquated systems and complex operational landscapes.
FiveM Consulting and Fortimize Forge Strategic Partnership to Elevate Insurance Industry’s Salesforce Experience
Two industry leaders, FiveM Consulting and Fortimize, are excited to announce a strategic partnership aimed at enhancing the utilization and adoption of Salesforce and Data & Analytics capabilities within the insurance sector. This collaboration is poised to bridge a longstanding gap of insurance industry expertise and technical delivery excellence.
Navigating the Storm: Lessons from a Full-Scale Cyber Attack
After spending nearly two decades in insurance technology, the last six as a CIO, I thought I had encountered most challenges my career could throw at me. I survived 9/11 in NYC, a massive blackout the next year, catastrophic weather, and then COVID. But the most remarkable learning experience was a full-scale cyber attack. But the most remarkable learning experience was a full-scale cyber attack.
The Biggest Risk Facing Insurers: Failing to Meet Strategic Objectives
Carol A. Williams’ article, “Why Strategic Implementations Fail and the Counterintuitive Way to Address It,” published in Carrier Management, offers a critical analysis of the challenges faced by property/casualty insurers in executing their strategic goals. The article highlights a startling statistic: despite improvements over the years
Embracing Nearshore Operations: A Winning Strategy in IT Talent Acquisition for Insurance Companies
In the rapidly evolving digital landscape, insurance companies face the critical challenge of enhancing their technological capabilities. Nearshore operations, particularly in IT talent acquisition, have surfaced as a strategic response to this challenge.
The InsurTech Inflection: Navigating the New Age of Insurance
InsurTech is a pivotal force reshaping the insurance industry. Fusing insurance and technology shifts the paradigm. It introduces cutting-edge tools and methodologies to an age-old sector. InsurTech applies technologies like artificial intelligence, big data, and blockchain to revolutionize insurance processes, including these fundamentals
Navigating the Cloud: The Evolving Journey of Insurance Companies
In the world of insurance, a sector often perceived as slow to embrace change, a quiet but profound transformation is underway. This change revolves around the adoption of cloud computing, a move driven by the industry’s growing need for agility, scalability, and enhanced security in a digital-first era.
Mentorship: The Lifelong Journey to Professional Mastery
Mentorship is essential for professional mastery and personal development. This dynamic relationship between you and an experienced individual offers practical guidance, support, wisdom, and encouragement. It extends beyond traditional teaching to foster independence, confidence, and sustainable knowledge.
Revolutionizing Underwriting: Unleashing Efficiency for Better Outcomes
Decades-old underwriting processes have stood the test of time, but many companies remain hesitant to enhance these systems as long as their ratios hover around industry averages. In a recent poll conducted by Accenture, startling revelations emerged—40% of underwriters’ valuable time is allocated to non-core activities.
