Insurance Blog | Accenture https://insuranceblog.accenture.com/ Mon, 02 Mar 2026 19:18:56 +0000 en-US hourly 1 https://insuranceblog.accenture.com/wp-content/uploads/2019/08/cropped-favicon-32x32.png Insurance Blog | Accenture https://insuranceblog.accenture.com/ 32 32 Beyond the boom: 8 strategic priorities for life & annuity executives in 2026 https://insuranceblog.accenture.com/8-strategic-priorities-life-annuity-executives-2026 Mon, 02 Mar 2026 10:11:28 +0000 https://insuranceblog.accenture.com/?p=48732 The US life and annuity industry experienced remarkable growth from 2022 to 2024, with record sales, expanding margins, and strong capital inflows. However, as we moved into 2025, early signs of a slowdown began to emerge. While it might be tempting to assume that 2026 will revert to the favorable conditions of 2024, I believe…

Beyond the boom: 8 strategic priorities for life & annuity executives in 2026

]]> 5 predictions for the insurance industry in 2026 https://insuranceblog.accenture.com/5-insurance-predictions-2026 Mon, 02 Feb 2026 09:42:38 +0000 https://insuranceblog.accenture.com/?p=48696 Insurers enter 2026 amid heightened geopolitical and macroeconomic uncertainty—reshaping risk, pricing, and customer affordability. That volatility isn’t the differentiator; how carriers respond is. The ones pulling ahead today are shifting from reactive execution to deliberate reinvention: they are strengthening their digital core and putting AI to work where it changes outcomes—faster decisions, lower unit costs,…

5 predictions for the insurance industry in 2026

]]> 3 key success factors for AI-led health claims modernization   https://insuranceblog.accenture.com/3-key-success-factors-ai-health-claims-modernization Wed, 22 Oct 2025 08:02:43 +0000 https://insuranceblog.accenture.com/?p=48642 The potential of AI in transforming health insurance claims management is vast, but realizing its full benefits requires more than just implementing new technology. In our previous blog on this subject, we explored how agentic AI can transform the health claims experience. In this blog, we will provide a roadmap as to how insurers can truly reap the full benefits by endorsing a holistic A.R.T. (“AI-powered, Resilient, Trusted”) reinvention model by rethinking core…

3 key success factors for AI-led health claims modernization  

]]> Agentic AI is transforming health insurance claims https://insuranceblog.accenture.com/agentic-ai-transforming-claims-health-insurance Thu, 16 Oct 2025 15:57:42 +0000 https://insuranceblog.accenture.com/?p=48622 Many of us have experienced the frustration of long waiting times to secure a patient slot in a clinic or hospital. Let’s imagine Jane, a policyholder, facing a delay in diagnosis of her acute appendicitis. This delay results in limited treatment options, days of clinical examinations, extra hospital admissions, and additional medical procedures like blood…

Agentic AI is transforming health insurance claims

]]> When LLMs get their bodies: Tailored robotic solutions for insurers https://insuranceblog.accenture.com/llms-tailored-robotics-insurers Fri, 10 Oct 2025 15:15:51 +0000 https://insuranceblog.accenture.com/?p=48627 The integration of Large Language Models (LLMs) with physical robots is set to redefine the way we interact with the world around us. This convergence, as highlighted in the Accenture Tech Vision 2025 trend “When LLMs Get Their Bodies” promises a new generation of highly tuned, ‘generalist’ robots that can take on a wide variety…

When LLMs get their bodies: Tailored robotic solutions for insurers

]]> We need a new approach to natural catastrophe claims https://insuranceblog.accenture.com/new-approach-natural-catastrophe-claims Thu, 02 Oct 2025 09:20:54 +0000 https://insuranceblog.accenture.com/?p=48610 2025 is not yet over but already, Gallagher Re’s Natural Catastrophe and Climate Report shows that in just the first half of the year, global insured losses have already hit $84 billion. At this pace, 2025 is set to mark the fifth straight year with insured losses exceeding $100 billion. All this exemplifies the fact…

We need a new approach to natural catastrophe claims

]]> AI Underwriting: Beyond the hype https://insuranceblog.accenture.com/ai-underwriting-beyond-the-hype Thu, 04 Sep 2025 13:54:40 +0000 https://insuranceblog.accenture.com/?p=48536 We have periodically conducted surveys on underwriting for more than 15 years to understand the state of the function and how technology is—or isn’t—helping it to evolve. In our most recent report Underwriting rewritten, we asked what percentage of time underwriters are spending on non-core tasks. This time, we saw some incremental improvement year–over–year compared…

AI Underwriting: Beyond the hype

]]> Four key ways for insurers to build resilience in a shifting trade landscape https://insuranceblog.accenture.com/four-key-ways-insurers-build-resilience Tue, 22 Jul 2025 15:30:07 +0000 https://insuranceblog.accenture.com/?p=48484 In the context of fractious global trade dynamics, businesses have no choice but to adapt their strategies for planning, pricing and protection. The interconnected nature of the global economy means that instability in one sector often has ripple effects across others.   Insurers are no exception to this with recent trade developments having introduced a more…

Four key ways for insurers to build resilience in a shifting trade landscape

]]> 3 ways to prepare the insurance workforce for the generative AI era https://insuranceblog.accenture.com/3-ways-to-prepare-the-insurance-workforce-for-the-generative-ai-era Thu, 19 Jun 2025 15:08:29 +0000 https://insuranceblog.accenture.com/?p=48466 With 30% of insurance workers reaching retirement age by 2030, and the rise of generative AI, including the emergence of agentic systems, the insurance industry’s workforce is poised for a major transformation. AI presents massive opportunities, but recruiting and upskilling talent remain significant challenges. Insurers that can attract, upskill and reskill their staff to be…

3 ways to prepare the insurance workforce for the generative AI era

]]> The binary big bang: Building agents that build apps in insurance   https://insuranceblog.accenture.com/the-binary-big-bang Mon, 09 Jun 2025 16:16:21 +0000 https://insuranceblog.accenture.com/?p=48459 The annual Accenture Tech Vision report has always been a beacon for the future of technology. Now in its 25th year, this year’s report AI: A Declaration of autonomy highlights four key trends that are set to reshape the tech landscape – 1) The Binary Big Bang, 2) Your Face in the Future 3) When…

The binary big bang: Building agents that build apps in insurance  

]]> The new learning loop: How insurance employees can co-create the future with AI https://insuranceblog.accenture.com/new-learning-loop Wed, 28 May 2025 08:33:28 +0000 https://insuranceblog.accenture.com/?p=48454 The annual Accenture Tech Vision report is in its 25th year and continues to be a huge source of insight for our technological future. This year, AI: A Declaration of autonomy  features four key trends that are set to upend the tech playing field: The Binary Big Bang, Your Face in the Future, When LLMs…

The new learning loop: How insurance employees can co-create the future with AI

]]> Your face in the future: Humanize your insurance brand experience to differentiate https://insuranceblog.accenture.com/your-face-in-the-future Wed, 21 May 2025 16:58:14 +0000 https://insuranceblog.accenture.com/?p=48445 In its 25th year, the annual Accenture Tech Vision report continues to be a guiding light for the future of technology. This year, the report highlights four key trends that are set to revolutionize technology: 1) The Binary Big Bang, 2) Your Face in the Future, 3) When LLMs Get Their Bodies, and 4) The…

Your face in the future: Humanize your insurance brand experience to differentiate

]]> Insurance News: Technology Spotlight https://insuranceblog.accenture.com/insurance-news-technology-spotlight Thu, 10 Apr 2025 12:00:58 +0000 https://insuranceblog.accenture.com/?p=48421 In this Technology Spotlight edition of Insurance News Analysis we delve into a couple of interesting niche topics that are primed for a new technology approach. Firstly, the upcoming switch to Blueprint Two has sparked a little bit of debate over Bordereaux management. We discuss whether these legacy processes that rely a lot on excel…

Insurance News: Technology Spotlight

]]> Insurance News: Technology Spotlight | Insurance Blog | Accenture This Technology Spotlight edition of Insurance News Analysis delves into Blueprint Two for bordereaux management, the implications of third party litigation funding and Zesty AI's new earth analytics. bordereaux management,insurance,Insurance News,third party litigation funding,Zesty AI,Bordereaux management Insurance News: Data & AI shaping the future of insurance https://insuranceblog.accenture.com/insurance-news-data-ai-shaping-insurance Mon, 10 Mar 2025 15:59:39 +0000 https://insuranceblog.accenture.com/?p=48402 In recent times, the insurance industry has been at the forefront of addressing some of the most pressing challenges of our era. From the devastating wildfires in Los Angeles to the gender pension savings gap, the role of insurance in mitigating risks and providing financial security has never been more critical. In this Insurance News…

Insurance News: Data & AI shaping the future of insurance

]]> Insurance News: Data & AI shaping the future of insurance | Insurance Blog | Accenture Carmina Lees, Deborah McBrearty, Chloe Harmer and Belinda Djamson sit down to discuss how data and AI is shaping the future of insurance. Insurance News,insurance; ai; data; climate; retirement; pensions; How to achieve profitable portfolio decarbonization in insurance https://insuranceblog.accenture.com/achieve-profitable-portfolio-decarbonization-insurance Wed, 05 Mar 2025 15:59:14 +0000 https://insuranceblog.accenture.com/?p=48387 Throughout history, insurers have been pivotal in driving social change, enabling human progress, innovation, and prosperity. From seatbelts to vaccines and fire-retardant materials, insurers have fostered numerous innovations. Nowadays, they face a new monumental challenge: climate change. 2024 has been another record loss year for insurers driven by natural catastrophes linked to climate change. Insurers…

How to achieve profitable portfolio decarbonization in insurance

]]> From private equity to IPO: 3 capital pathways for insurance brokerages https://insuranceblog.accenture.com/3-capital-pathways-insurance-brokerages Thu, 13 Feb 2025 10:49:08 +0000 https://insuranceblog.accenture.com/?p=48365 The insurance brokerage industry has long relied on M&A as a core growth strategy, fueled by accessible, low-cost capital and strong free cash flow generation. While recent Federal Reserve rate cuts have provided some relief, deal volume in 2024 was still down nearly 20% compared to 2023. Despite M&A headwinds, brokers continue to face significant…

From private equity to IPO: 3 capital pathways for insurance brokerages

]]> 3 life insurance underwriting predictions for 2025 https://insuranceblog.accenture.com/3-life-insurance-underwriting-predictions-2025-2 Fri, 07 Feb 2025 14:47:07 +0000 https://insuranceblog.accenture.com/?p=48357 Fueled by rapid technological advancements, demographic changes and shifting consumer expectations, the Life & Annuity industry is set for several transformative changes in 2025. Swiss Re forecasts average global real premium growth of 2.6% in 2025 and 2026, with life insurance projected to expand globally by 3% annually— more than twice the pace of the…

3 life insurance underwriting predictions for 2025

]]> 5 predictions for the insurance industry in 2025 https://insuranceblog.accenture.com/5-predictions-insurance-industry-2025 Thu, 30 Jan 2025 18:52:45 +0000 https://insuranceblog.accenture.com/?p=48337 The insurance industry faces major changes in 2025. Demographics, climate impacts and geopolitical change are shifting the landscape—literally and figuratively—and will push insurers to adapt. Faced with new opportunities and risks we expect the industry to challenge orthodoxies and spark reinvention.  1. The aging population becomes the dominant industry force. Longer life spans and lower fertility…

5 predictions for the insurance industry in 2025

]]> Three key levers to reinvent insurance customer relationships https://insuranceblog.accenture.com/three-levers-reinvent-insurance-customer-relationships Thu, 16 Jan 2025 11:34:01 +0000 https://insuranceblog.accenture.com/?p=48266 In today’s competitive landscape, the lines between product and price offerings among Asian insurers are blurring, compelling companies to find innovative ways to capture customer attention and secure their business. As a result, customer engagement and experience have become paramount to success. Despite insurers’ efforts to prioritize customer-centric approaches and personalized experiences, a staggering 74%…

Three key levers to reinvent insurance customer relationships

]]> Insurance News: 2024 in review https://insuranceblog.accenture.com/insurance-news-2024-in-review Fri, 20 Dec 2024 17:13:17 +0000 https://insuranceblog.accenture.com/?p=48250 As 2024 draws to a close, we are delighted to gather for the Insurance News Analysis year-end edition. 2024 set yet another heat record. And we are looking at a fifth consecutive year of more than $100 billion of insured losses from catastrophic events linked to climate change.  We discuss how insurers are adjusting to this fundamental…

Insurance News: 2024 in review

]]> Insurance News: 2024 in review | Insurance Blog | Accenture Kenneth Saldanha, Khalid Lahraoui and Darcy Dague of Accenture discuss the insurance news stories that made the headlines in 2024 Climate Change,Insurance News,porch piracy,insurance 5 reflections on the insurance industry in 2024 https://insuranceblog.accenture.com/5-reflections-on-the-insurance-industry-in-2024 Wed, 18 Dec 2024 19:57:26 +0000 https://insuranceblog.accenture.com/?p=48240 As 2024 draws to a close, it’s a good time to reflect on what the insurance industry achieved, what surprised us and how longer-term trends progressed. From an industry results perspective, 2024 was a strong year. Buoyed by rate increases and continued (but diminishing) interest rates, carriers saw global insurance premiums grow by 4.6% in…

5 reflections on the insurance industry in 2024

]]> The guide to generative AI for insurance https://insuranceblog.accenture.com/guide-generative-ai-insurance Fri, 29 Nov 2024 11:50:45 +0000 https://insuranceblog.accenture.com/?p=48217 Insurers that focused on modernizing technology and improving their data, analytics and artificial intelligence (AI) capabilities are now able to incorporate generative AI (gen AI) as a natural next step on their reinvention journey. Gen AI is changing everything. It is being used throughout the value chain to improve customer interactions, streamline operations and support…

The guide to generative AI for insurance

]]> 7 strategic cyber steps for the Chief Underwriting Officer https://insuranceblog.accenture.com/7-strategic-cyber-steps-for-chief-underwriting-officer Tue, 01 Oct 2024 11:26:55 +0000 https://insuranceblog.accenture.com/?p=48172 Cyber is an expanding net-new growth area with opportunity to deliver a compelling insurance offering especially in the mid-market. Yet, the path to becoming a market-leading and profitable cyber insurer is fraught with challenges. In this article, we outline the essential strategies to develop a top-tier cyber offering, culminating in a guide to the 7…

7 strategic cyber steps for the Chief Underwriting Officer

]]> Navigating the next era of growth in insurance brokerage https://insuranceblog.accenture.com/navigating-next-era-growth-insurance-brokerage Mon, 02 Sep 2024 15:32:28 +0000 https://insuranceblog.accenture.com/?p=48154 The brokerage market has enjoyed a period of sustained revenue growth, profitability, and shareholder value, driven by favorable macroeconomic conditions. M&A activity has flourished due to easy access to inexpensive capital on a robust cash flow business, while organic growth has been fueled by a hardening rate environment and inflation-driven exposure increases. Shareholder value, including…

Navigating the next era of growth in insurance brokerage

]]> What does market-leading cyber claims management look like? https://insuranceblog.accenture.com/what-does-market-leading-cyber-claims-management-look-like Mon, 26 Aug 2024 08:46:25 +0000 https://insuranceblog.accenture.com/?p=48143 Recently, many leading insurers have applied transformative solutions to enhance their cyber products. With the cyber insurance market projected to double to $29B by 2027, we explore what constitutes market-leading cyber claims management.   In this blog we’ll delve into the complexities of responding to cyber claims, the essential skills required by claims adjusters, and the…

What does market-leading cyber claims management look like?

]]> Beyond premiums: What really drives customer loyalty?  https://insuranceblog.accenture.com/beyond-premiums-what-really-drives-customer-loyalty Wed, 21 Aug 2024 10:19:34 +0000 https://insuranceblog.accenture.com/?p=48135 Personal lines insurance is very price-sensitive. As discussed previously, maintaining a 20+% expense ratio is not feasible for insurers. Beyond pricing, what truly fosters customer loyalty, and how can insurers compete to increase their market share?  In this blog, I explore strategies for enhancing customer loyalty and retention, provide forecasts on the evolving risk landscape…

Beyond premiums: What really drives customer loyalty? 

]]> 5 areas of algorithmic underwriting advantage https://insuranceblog.accenture.com/power-of-algorithmic-underwriting Tue, 06 Aug 2024 13:32:25 +0000 https://insuranceblog.accenture.com/?p=48110 Use of algorithmic underwriting is increasing across the insurance industry. With enhanced decision-making and improved risk assessments, an algorithmic approach to underwriting can optimize operations for insurers and experience for their customers. In this post we delve into the evolution and advantages of algorithmic underwriting and share our insights on building and scaling an algorithmic…

5 areas of algorithmic underwriting advantage

]]> 4 strategic ways to achieve a 12 – 15% expense ratio https://insuranceblog.accenture.com/4-strategic-ways-to-achieve-a-12-15-expense-ratio Wed, 17 Jul 2024 10:28:57 +0000 https://insuranceblog.accenture.com/?p=48072 The global P&C personal lines market, which historically saw premium growth at 3%, has risen sharply to more than 15% in the last two years. Despite this premium growth, the expense ratio for most insurers remains in the high-cost range of 20 – 30%. The need for operational efficiency has never been more critical. Significant…

4 strategic ways to achieve a 12 – 15% expense ratio

]]> Insurance News: London Calling https://insuranceblog.accenture.com/insurance-news-london-calling Mon, 24 Jun 2024 11:06:51 +0000 https://insuranceblog.accenture.com/?p=48030 The UK is the historical birthplace of the modern insurance industry and where the London Market emerged as a hub for global risk. How are industry dynamics and new domestic challenges in claims and pricing shifting the landscape? It’s London Calling. We mark the 4th anniversary of Insurance News Analysis with this special edition recorded…

Insurance News: London Calling

]]> Insurance News: London Calling | Insurance Blog | Accenture Watch Carmina Lees, Market Unit Lead UKI Insurance at Accenture, Matt Madsen and Kenneth Saldanha discuss UK insurance market topics. Insurance News,insurance; london; claims; pet insurance; climate change; london market; home insurance; auto insurance; Driving claims insights for insurance carriers https://insuranceblog.accenture.com/driving-claims-insights-for-insurance-carriers Wed, 08 May 2024 00:00:00 +0000 https://insuranceblog.accenture.com/?p=47998 Strategic claims segmentation diverges from the traditional ways of managing claims, promoting a more detailed, data-driven approach.  Traditional segmentation only considers the monetary value and data points such as the cause of loss and the exposure. Strategic segmentation considers the individual merits of each claim, ensuring more accurate and efficient adjudication, a major priority in…

Driving claims insights for insurance carriers

]]> A new day for risk in insurance https://insuranceblog.accenture.com/new-day-for-risk-in-insurance Tue, 16 Apr 2024 12:10:49 +0000 https://insuranceblog.accenture.com/?p=47934 Risk used to be relatively simple.  If a local bakery wanted insurance, you would worry about the structure, the location, how it operated and could have a pretty good view of its risk profile.  Today that same business is far more complicated and interconnected: Third party Point of Sale systems are used to process transactions…

A new day for risk in insurance

]]> 3 ways insurance underwriters can gain insights from generative AI https://insuranceblog.accenture.com/3-ways-insurance-underwriters-gain-insights-generative-ai Thu, 21 Mar 2024 17:45:51 +0000 https://insuranceblog.accenture.com/?p=47909 Generative AI (GenAI) has the potential to transform the insurance industry by providing underwriters with valuable insights in the areas of 1) risk controls, 2) building & location details and 3) insured operations. This technology can help underwriters identify more value in the submission process and make better quality, more profitable underwriting decisions. Increased rating…

3 ways insurance underwriters can gain insights from generative AI

]]> Insurance News: International Women’s Day Special Edition https://insuranceblog.accenture.com/insurance-news-international-women-day Thu, 07 Mar 2024 18:29:56 +0000 https://insuranceblog.accenture.com/?p=47884 In celebration of International Women’s Day, we are delighted to be part of a panel of extraordinary women leaders for this special edition of Insurance News Analysis. We discuss the strides being made toward gender equality and the work that remains.  So, what is being done to recruit, retain and promote women in the insurance…

Insurance News: International Women’s Day Special Edition

]]> Insurance News: International Women’s Day Special Edition | Insurance Blog | Accenture Our leaders discuss the strides in gender equality and the ongoing efforts that lie ahead in the 20th anniversary of IWD at Accenture. Watch the panel.Our leaders discuss the strides in gender equality and the ongoing efforts that lie ahead in the 20th anniversary of IWD at Accenture. Watch the panel. Inclusion & Diversity,Insurance News,international women's day,Leadership 3 life insurance underwriting predictions for the year ahead https://insuranceblog.accenture.com/3-life-insurance-underwriting-predictions-for-the-year-ahead Wed, 06 Mar 2024 00:20:44 +0000 https://insuranceblog.accenture.com/?p=47886 Life insurance stands on the cusp of a new chapter in reinvention. Until now, insurers have been gradually moving forward with wide-scale digital transformation. But with the impacts of AI, including generative AI, change is coming fast. We’re in a vibrant new year, and life insurers are starting to accelerate and implement their reinvention strategies.…

3 life insurance underwriting predictions for the year ahead

]]> Maximizing investment in policy administration systems https://insuranceblog.accenture.com/maximizing-investment-in-policy-administration-systems Tue, 20 Feb 2024 07:34:58 +0000 https://insuranceblog.accenture.com/?p=47862 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…

Maximizing investment in policy administration systems

]]> 5 key generative AI use cases in insurance distribution https://insuranceblog.accenture.com/5-key-generative-ai-use-cases-in-insurance-distribution Tue, 13 Feb 2024 08:35:54 +0000 https://insuranceblog.accenture.com/?p=47841 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…

5 key generative AI use cases in insurance distribution

]]> 5 predictions for the insurance industry in 2024 https://insuranceblog.accenture.com/5-predictions-insurance-industry-2024 Wed, 27 Dec 2023 17:01:32 +0000 https://insuranceblog.accenture.com/?p=47777 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 predictions for the insurance industry in 2024

]]> Insurance News: 2023 in review https://insuranceblog.accenture.com/insurance-news-2023-review Tue, 19 Dec 2023 19:16:22 +0000 https://insuranceblog.accenture.com/?p=47760 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…

Insurance News: 2023 in review

]]> Insurance News: 2023 in review | Insurance Blog | Accenture Accenture’s Kenneth Saldanha and Cindy De Armond welcome Cory McAnelly of Principal to discuss the insurance stories that made the headlines in 2023. Watch the episode. Generative AI,Insurance News,Travel Insurance Insurance News: The generative AI opportunity and importance of responsible implementation https://insuranceblog.accenture.com/insurance-news-generative-ai-opportunity-responsible-implementation Thu, 23 Nov 2023 14:30:13 +0000 https://insuranceblog.accenture.com/?p=47732 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: The generative AI opportunity and importance of responsible implementation

]]> Insurance News: The generative AI opportunity and importance of responsible implementation | Insurance Blog | Accenture Watch Cindy DeArmond, Ravi Malhotra and Bruce Hentschel discuss the generative AI insurance opportunity and the importance of responsible implementation. Generative AI,Insurance News,Responsible AI New strategies for P&C claims litigation management https://insuranceblog.accenture.com/strategies-pc-claims-litigation-management Thu, 09 Nov 2023 17:12:10 +0000 https://insuranceblog.accenture.com/?p=47707 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…

New strategies for P&C claims litigation management

]]> The inclusive insurance opportunity https://insuranceblog.accenture.com/inclusive-insurance-opportunity Thu, 19 Oct 2023 13:41:38 +0000 https://insuranceblog.accenture.com/?p=47680 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…

The inclusive insurance opportunity

]]> New consumer paradigms for insurance https://insuranceblog.accenture.com/new-consumer-paradigms-insurance Fri, 06 Oct 2023 19:38:41 +0000 https://insuranceblog.accenture.com/?p=47669 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…

New consumer paradigms for insurance

]]> 5 ways to simplify and reinvent your insurance enterprise https://insuranceblog.accenture.com/5-ways-simplify-reinvent-insurance-enterprise Wed, 20 Sep 2023 13:44:48 +0000 https://insuranceblog.accenture.com/?p=47640 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…

5 ways to simplify and reinvent your insurance enterprise

]]> The ultimate guide to a successful Guidewire migration https://insuranceblog.accenture.com/ultimate-guide-guidewire-migration Fri, 08 Sep 2023 17:01:03 +0000 https://insuranceblog.accenture.com/?p=47616 The decision to initiate a Guidewire cloud migration should not be made lightly. Like any key decision in life, it is best to find experts, so not to incur potentially large expenditures in the future to fix a poor implementation. Between the financial investment, the large and potentially unknown risks, and the career implications determined…

The ultimate guide to a successful Guidewire migration

]]> Life insurance ecosystems ignite innovation https://insuranceblog.accenture.com/life-insurance-ecosystems-ignite-innovation Tue, 15 Aug 2023 21:30:23 +0000 https://insuranceblog.accenture.com/?p=47596 I am encouraged to see ever-expanding ecosystems in the life insurance space. They’re helping insurers bring in more diverse data, specialized skills, leading-edge technologies and new ideas that spark innovation. Moreover, these benefits are accessible through trusted partners, rather than insurers making costly and time-consuming investments to build the capabilities themselves. In fact, ecosystem collaboration…

Life insurance ecosystems ignite innovation

]]> Insurance News: When states are the insurers of last resort https://insuranceblog.accenture.com/insurance-news-states-insurers-last-resort Wed, 09 Aug 2023 16:16:56 +0000 https://insuranceblog.accenture.com/?p=47590 The insurance industry and public sector both play a critical role in helping to mitigate risk for customers and constituents. But, as costs to insure property and long-term care in the U.S. rise, states increasingly become the insurers of last resort. In this Insurance News Analysis, we focus on the U.S. market and the areas…

Insurance News: When states are the insurers of last resort

]]> Insurance News: When states are the insurers of last resort | Insurance Blog | Accenture In this Insurance News Analysis, Kenneth Saldanha and Cindy De Armond focus on the U.S. market and the areas of risk that more states are assuming. Claims,Insurance News,Sustainability,Underwriting Agency networks – The new reality in insurance distribution https://insuranceblog.accenture.com/agency-networks-the-new-reality-in-insurance-distribution Thu, 27 Jul 2023 14:00:25 +0000 https://insuranceblog.accenture.com/?p=47550 Competitive pressure, increased capital availability (even with current rates), and the evolving business landscape (thanks in part to the pandemic) have created an opportunity for independent insurance agents (IAs) to get creative to grow and remain independent in the insurance industry. As such, many IAs have sought out agency networks that provide benefits historically harder…

Agency networks – The new reality in insurance distribution

]]> Insurance News: The heat is on—from climate change to claims https://insuranceblog.accenture.com/insurance-news-climate-change-claims Tue, 18 Jul 2023 17:13:19 +0000 https://insuranceblog.accenture.com/?p=47530 From catastrophic events linked to climate change to social unrest, the insurance industry is seeing big claims. While some risks are more easily predicted than others, new data sources may help insurers and customers find ways to turn down the heat. In this Insurance News Analysis, Abbey Compton and I talk about new data from…

Insurance News: The heat is on—from climate change to claims

]]> Insurance News: The heat is on—from climate change to claims | Insurance Blog | Accenture Kenneth Saldanha, Global Head of Insurance at Accenture, discusses how insurers can tackle climate change and social unrest. Watch this month's Insurance News Analysis. Claims,Insurance News,Sustainability,Underwriting Generative AI reveals 6 insurance industry innovation trends https://insuranceblog.accenture.com/qorus-accenture-generative-ai-reveals-6-insurance-industry-innovation-trends Mon, 26 Jun 2023 17:18:02 +0000 https://insuranceblog.accenture.com/?p=47505 We are delighted once again to see the spirit of innovation on display in the Qorus-Accenture Innovation in Insurance Awards. This year, through the power of Generative AI, we also uncovered six key trends shaping the future of the insurance industry. Since their inception in 2016, the Awards program has served as a catalyst for…

Generative AI reveals 6 insurance industry innovation trends

]]> Life insurers reveal tech strategies to boost CX https://insuranceblog.accenture.com/life-insurers-tech-strategies-boost-cx Fri, 16 Jun 2023 13:43:55 +0000 https://insuranceblog.accenture.com/?p=47490 The tech-powered operating model research shows that a broad enterprise technology strategy is crucial for business success. Part of that success comes from a leader’s ability to scale technology to drive exceptional customer experiences and new value propositions. In support of such an endeavor, insurers, driven by speed to market with new and differentiated products,…

Life insurers reveal tech strategies to boost CX

]]> Insurers harness cloud power and reduce tech debt https://insuranceblog.accenture.com/insurers-cloud-power-reduce-tech-debt Tue, 23 May 2023 20:18:31 +0000 https://insuranceblog.accenture.com/?p=47453 With all the buzz around ChatGPT and generative AI, it’s important to remember that cloud is the underpinning. Insurers will need to replatform by migrating to the cloud to enable innovation and growth through these new and emerging technologies. At the same time, they are taking a hard look at their legacy blocks to determine…

Insurers harness cloud power and reduce tech debt

]]> Intelligent ingestion: The start of commercial digital insurance https://insuranceblog.accenture.com/intelligent-ingestion-commercial-digital-insurance Tue, 02 May 2023 15:43:12 +0000 https://insuranceblog.accenture.com/?p=47422 For over a decade, we have pretended to be paperless. We tout the fact that the file cabinets, the 7-part specialized file folders, and massive mail rooms have all been eliminated and reduced, and claim that we are paperless. But we know it isn’t real. Today’s paper is PDFs, excels, and adobe. The filing cabinets…

Intelligent ingestion: The start of commercial digital insurance

]]> Insurance News: Generative AI experience, efficiency and risk https://insuranceblog.accenture.com/insurance-news-generative-ai Tue, 25 Apr 2023 17:32:01 +0000 https://insuranceblog.accenture.com/?p=47382 Every day we see headlines about generative AI. For the insurance industry, this technology offers acceleration in many areas in which AI-led transformation is already underway. But, like any emerging technology, it also introduces new areas of risk. In this Insurance News Analysis, Abbey Compton and I are joined by Daria Lee Sharman for a…

Insurance News: Generative AI experience, efficiency and risk

]]> Insurance News: Generative AI experience, efficiency and risk | Insurance Blog | Accenture Listen to Accenture's Kenneth Saldanha and Daria Lee Sharman discuss the challenges and opportunities that Generative AI presents for insurers. Artificial Intelligence (AI),Claims,Insurance News,Risk,Underwriting Insurance News: Driving telematics beyond the pricing lane https://insuranceblog.accenture.com/insurance-news-driving-telematics-beyond-pricing Fri, 31 Mar 2023 18:43:16 +0000 https://insuranceblog.accenture.com/?p=47241 Inflation and cost-of-living headlines are on the rise. Such discussions often include increases in car insurance rates and potential savings to be found in pay-as-you-drive policies, but data from vehicle telematics can drive value far beyond pricing. In this Insurance News Analysis, Abbey Compton and I are joined by David Morse, Chief Customer Officer at…

Insurance News: Driving telematics beyond the pricing lane

]]> Insurance News: Driving telematics beyond the pricing lane | Insurance Blog | Accenture Kenneth Saldanha, Global Insurance Lead at Accenture and David Morse, Chief Customer Officer at Cambridge Mobile Telematics discuss vehicle telematics. Watch the Insurance News Analysis March 2023 episode. Insurance News,Risk Management,Telematics 3 life insurance underwriting predictions for 2023 https://insuranceblog.accenture.com/3-life-insurance-predictions-2023 Tue, 03 Jan 2023 08:59:02 +0000 https://insuranceblog.accenture.com/?p=47004 As the insurance industry continues to navigate the pace of change, complexity and uncertainty in our world, consumers continue to respond, expecting companies to be more responsive to their needs. This year’s underwriting predictions offer guidance on how carriers can respond faster. 1.  Evolving cognitive technologies will help insurers capture opportunity from more discrete market…

3 life insurance underwriting predictions for 2023

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