Data/Tech/Modeling EMERGING TRENDS INDUSTRY NEWS Recent Stories WRIN.tv Newswire BriteCore CEO sees Big Upside for Carriers Embracing Tech Changes BriteCore CEO Phil Reynolds discusses the insurance industry’s movement towards microservices and shares insights on how companies that embrace change and ‘engage the complication’ gain an enormous competitive advantage. Mr. Reynolds sees many insurers “stuck in legacy systems.” He believes microservices can provide a path forward and alternative to the “Big Bang Conversion.” He also sees a lot of movement … Read More
CONSUMER RISK Data/Tech/Modeling Homeowner/Renter/Auto Recent Stories WRIN.tv Newswire “Upstart Insurtechs” raising the bar in homeowners market – LexisNexis exec. The biggest issues facing home insurance carriers today fall into two categories, according to George Hosfield, Senior Director of Home Insurance for LexisNexis Risk Solutions. Consumer expectation is driving changes to the customer experience as well as changes to the experience for agents. Mr. Hosfield says much of that is driven by “upstart insurtech” companies raising the bar, and general … Read More
Data/Tech/Modeling EMERGING TRENDS FEATURED INDUSTRY NEWS Customer centricity, together with technologies and re-engineering creates “Magic.” According to James Dodge, the “umbrella disruptors” to the insurance industry are the Internet of Things (IoT) along with the data it provides and the cyber risk that is inherent. Mr. Dodge is Practice Leader, Advanced Analytics & Data Solutions at Milliman. He sees profound changes in computing technologies and the “as a service cloud business model” mitigating the advantages … Read More
COMMERCIAL RISK EMERGING TRENDS FEATURED Homeowner/Renter/Auto Legislation/Regulation P&C Specialty Lines Uncategorized WRIN.tv Newswire AAIS CEO on disruptive technology, new economy, regulation & ‘CannaBOP.’ AAIS President and CEO Ed Kelly discusses the major issues industry executives are concerned about heading into 2018, including technology, the new economy and buying behavior, as well as government regulation. While technology remains an enabler in the insurance industry, Mr. Kelly notes that the new uses of technology are the “disruptors.” “We’ve seen that with automation…the use if drones, … Read More
Claims Management Data/Tech/Modeling EMERGING TRENDS FEATURED INDUSTRY NEWS WRIN.tv Newswire Blockchain is coming…no one is exempt – The Institutes CEO In this edition of WRIN.tv’s Tech Trends in Insurance, The Institutes President and CEO Peter Miller describes the way Blockchain will change the business of insurance in the future. “It is the plumbing.” Blockchain has the potential to reduce costs, decrease transaction time, improve customer service, enable new product development and affect better financial results – the impact is significant … Read More
Agents/Brokers/Consultants COMMERCIAL RISK Corporate Risk Management/ERM EMERGING TRENDS FEATURED Recent Stories WRIN.tv Newswire “Excellence in Risk Management” report sheds light on risks from disruptive technologies. Brian Elowe, Marsh’s U.S. Client Executive Leader, reviews the key findings from the 14th annual Excellence in Risk Management report, published jointly by Marsh and RIMS. He sees a gap between the use of ‘disruptive technologies’ and the understanding of the risks that come with it. Mr. Elowe, who co-authored the report, begins by recognizing examples of ‘disruptive technologies’ such … Read More
Data/Tech/Modeling INDUSTRY NEWS WRIN.tv Newswire Advice for winners re: InsurTech and tomorrow’s insurance value chain – ACORD CEO. In part two of a two-part Tech Trends in Insurance report, Bill Pieroni, President & CEO of ACORD, discusses the latest developments in InsurTech – “a real phenomenon.” Mr. Pieroni sees two types of InsurTech firms: companies that have a fundamental understanding of the challenges faced by the insurance industry, and those with solutions looking for a problem. The insurance … Read More
Data/Tech/Modeling EMERGING TRENDS Emerging technologies will improve carrier marketing – shape customer experience. Truman Esmond, VP of Customer Engagement at American Association of Insurance Services (AAIS), discusses technology trends affecting insurers, and how they will shape target marketing and the customer experience going forward. Speaking from the 2016 NAMIC Convention, Mr. Esmond says insurers are concerned about several major issues including technology and data, challenges with the customer experience, traditional and nontraditional competitors. He says the hottest trends affecting insurance products surround the … Read More
WRIN.tv Newswire Cyber risk; silent threat underestimated by engineering insurance – IMIA THE INTERNATIONAL ASSOCIATIONS OF ENGINEERING INSURERS PRESS RELEASE Cyber risk; silent threat underestimated by engineering insurance Doha, Qatar – 4 October 2016 – The Internet of Things (IoT) and cloud computing have a direct influence on the engineering insurance risk landscape but are being underestimated by underwriters according to The International Association of Engineering Insurers (IMIA). A specialist working group … Read More
Corporate Risk Management/ERM Data/Tech/Modeling EMERGING TRENDS FEATURED P&C Recent Stories IoT Expanding; Cyber threats growing – insurers rResponding In this edition of WRIN.tv’s Cyber Report, a Gartner study forecasts that 6.4 billion things will be inter-connected worldwide in 2016, with spending on support for the Internet of Things (IoT) to hit $235 billion. A cyber-security guru described the Internet of Things as “The Internet of Threats”, as the U.S. Federal Government says the global Internet of Things will … Read More
FEATURED INDUSTRY NEWS P&C People Recent Stories The Institutes CEO believes change makes this an exciting time to be in the insurance Industry Peter Miller, President and CEO of The Institutes, joins WRIN.tv to discuss talent acquisition and development, cyber risk, Big Data and more. According to Mr. Miller, there is a large number of skilled people who are getting ready to leave the industry. The Bureau of Labor Statistics says that by 2022 the insurance industry will have to fill around 500,000 … Read More