10 Jan 2019
IFRS 17 means the insurance industry is facing yet another round of regulation. As ever, legislative change will mean investment – both in terms of time and finance, as well as potential disruption to business as usual. And what may annoy many in the industry is that it’s not long since they went through the process of getting on the right side of...
10 Jan 2019
Today’s insurers are faced with many challenges, including a low-interest-rate environment, price transparency, regulatory changes, customer cost-consciousness, complex IT landscapes, and increasing operational costs. Add to this the rising cost, number, and frequency of claims. In 2017 the UK’s largest insurer, Aviva, paid out more claims than ev...
31 Aug 2017
The traditional role of the insurer is being transformed as digitalisation takes hold. New technologies and processes like data analytics and machine learning represent major opportunities for insurers, but also pose a competitive threat to those that are late to the party. Data and analytics are becoming increasingly crucial to survival in the in...
15 Feb 2017
The insurance industry is facing its very own Kodak moment. Forty years after the once heart-warming 1970s ad slogan became part of popular culture, it now has more inference to the company’s spectacular failure to act in the face of massive industry-wide disruption than it does to capturing special moments. (Think Kodak vs. digital photography). ...