Data forms the bedrock of the U.S. insurance industry, which accounts for almost 2.7% of the domestic gross domestic product, according to the Insurance Information Institute. Over the years, companies like yours have collected, stored and analyzed massive data sets to price different types of risks, and accordingly issue insurance policies. However, the unprecedented pace […]

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Customer acquisition and retention has always been a challenging task for chief marketing officers (CMOs) at insurance companies like you. In a hypercompetitive industry that is beginning to transition from being product-centric to one focused on consumers, you today need to reimagine your customer engagement strategy. Why? Because, brand differentiation remains a major business goal […]

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The $4.8 trillion insurance industry today faces multiple challenges including stricter regulations, increasing cost of capital, mounting competition from nimble technology upstarts, and lower returns generated from invested assets. And, as the convergence of the physical and digital spheres accelerates, insurers also have to contend with rapidly evolving customer expectations around personalized products and services, […]

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With frequent natural disasters, uncertain economic expansion, increased competition, technology advancements, and customer expectations, the Caribbean region presents complex challenges in the insurance market. The recurrent natural calamities have made economic insecurities a major concern across the region. Though natural disasters can’t be controlled, a little preparedness can lessen the impact of disasters by structuring […]

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Recent advances in technology, demography, financial reporting developments, regulatory changes and consumer needs and expectations are re-shaping insurance industry. Digital technology, enhanced data capture and analytics are changing the design, pricing and distribution of insurance products, along with policy and claims management. These changes are putting a severe strain on traditional business models and even […]

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The changing customer behavior, digital disruption, regulatory pressures, and competitive marketplace are forcing Property and Casualty (P&C) insurers to refine their current strategy and operating models. The P&C insurers are facing various growth-related internal and external challenges that are keeping their executives on toes. From low-interest rates, soft pricing conditions to technology advancements, the expectations […]

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