The document discusses challenges facing auto insurers today, including flat premium growth since 2004 and more complex customer needs and risks. It promotes solutions from Verisk Insurance to help insurers innovate, such as using data analytics to better understand customer risks and portfolio performance. Verisk offers tools to optimize the underwriting process from quote to renewal and help insurers make smarter risk decisions.
The article reflects upon the importance of data analytics in insurance/takaful industry especially for motor/car and medical business. Effective use of analytical tools can help in improving profitability of the motor business. Alongside, that can enhance customer experience in addition to cross/up sale opportunities.
Having clean rooms and a great location is no longer enough to set hotels apart from the masses. From initial booking to check-out, see what steps hotels can take to raise the bar on the guest experience. https://deloi.tt/2xS3Xky
Even though many organizations only care about the return on investment (ROI), but they never revisit it. Treasurers rarely toot their own horn about achieving or exceeding promised ROI. During this presentation we will examine vital financial benefits derived from both strategic and operational changes made possible with modern technology. It will cover some leading practices and preventable pitfalls others have made while making the case for treasury technology.
This presentation will provide you with tools to improve how you “make the case” for technology.
The article reflects upon the importance of data analytics in insurance/takaful industry especially for motor/car and medical business. Effective use of analytical tools can help in improving profitability of the motor business. Alongside, that can enhance customer experience in addition to cross/up sale opportunities.
Having clean rooms and a great location is no longer enough to set hotels apart from the masses. From initial booking to check-out, see what steps hotels can take to raise the bar on the guest experience. https://deloi.tt/2xS3Xky
Even though many organizations only care about the return on investment (ROI), but they never revisit it. Treasurers rarely toot their own horn about achieving or exceeding promised ROI. During this presentation we will examine vital financial benefits derived from both strategic and operational changes made possible with modern technology. It will cover some leading practices and preventable pitfalls others have made while making the case for treasury technology.
This presentation will provide you with tools to improve how you “make the case” for technology.
The Global Chief Procurement Officer Survey 2018Deloitte UK
For the past seven years, the Global Chief Procurement Officer Survey has provided a global benchmark of the sentiment or procurement leaders and an insight into the key themes and challenges facing procurement, including market dynamics, value and collaboration, talent and leadership, and digital procurement.
How SME access to working capital reduces financial supply chain riskC2FO
Learn how you benefit from helping small and midsize businesses grow and invest in their operations — without increasing your supply chain risk
With global competition rising amid a growing economy, securing your supply chain is more critical than ever before. The C2FO Working Capital Outlook Survey provides detailed insight into how liquidity impacts global SME suppliers, their views on how their business will grow, and how well they can access working capital to meet your demands and fund that growth.
Survey includes responses from more than 2,000 small and midsize enterprises in the United States, the United Kingdom, Germany, France, Italy, China, and India.
Accenture North American Digital Banking Consumer Survey 2014 accenture
According to the new Accenture 2014 North America Consumer Digital Banking Survey, digital banking trends are changing traditional relationships between consumers and banks. In fact, the research suggests the relationship is increasingly uncertain as consumers are intrigued by branchless digital banks, define their relationships as merely transactional and generally want more advice and proactive financial services from their Everyday Banks. Read the PDF to learn more about the results of the survey, and how banks can respond to these threats.
Organizations today still face challenges when trying to identify, tap into and influence digital customers around their products and services. Traditional customer segmentation exercises are typically inward-facing and don’t lead to the appropriate return. In spite of mountains of data, a more transparent customer, and large investments to create digital personas and profiles of the targeted customer set, actual customer behavior and need sets are mostly shrouded in a mystery.
Blueocean Market Intelligence has created a proprietary solution called "Persona™" that enhances an organizations’ current customer segmentation or can be used to conduct an independent digital customer segmentation exercise. This solution provides insights around customers’ spending habits, purchase patterns, past behavior and purchases, recent and historical interaction with product categories, etc. It tracks and understands digital attributes, digital body language, up and downstream click data, sales funnel position and device preferences are important considerations for effectively identifying and building digital personas.
Using Persona's technology platform to capture Big Data effectively, we are able to empower global marketing teams to get closer to one-on-one marketing by delivering the right content to the right person, at the best time on the preferred channel.
The world of B2B marketing has changed dramatically with the advent of internet and the increased connectivity in today's world. Traditional marketing methods are getting increasingly ineffective as buyers become more informed and highly aware of the products or solutions they need.
Managing Uncertainty Report from Supply Management Insider & ERA Alan Birse
This survey, produced by Supply Management in conjunction with Expense Reduction Analysts, explores attitudes to Procurement within different organisations. It reviews how Procurement can help address businesses' profitability in a period of increasing uncertainty.
Spotlight on Technology: Steering Clear of the IT Danger ZonesL.E.K. Consulting
In this Executive Insights' "Spotlight on Technology: Steering Clear of the Danger Zones," learn why companies are increasingly taking advantage of IT services to migrate their industry-specific services to the cloud, how customers are utilizing vendors and which vendors will win by capitalizing on these opportunities.
Low-interest rates mean that P&C leadership teams are facing increasing pressure to generate heftier margins from their underwriting operations. More at http://gt-us.co/1japuAu
Analytics is a two-sided coin. While on one side, it uses
descriptive and predictive models to gain valuable knowledge from data, i.e. data analysis, on the other side, it provides insight to recommend action or guide decision making, i.e. communication
[AI Webinar Series P1] - How Advanced Text Analytics Can Increase the Operati...JK Tech
Digitization is considered as the next step-change that will have a bigger impact on businesses than even the internet. To win in the digital journey, companies must act now, or be left behind wondering what happened!
In this webinar series, JKT Smart Analytics demonstrates how they empower their customers to create maximum business value out of this eminent Digital data explosion through digital business empowerment by leveraging the digitization to increase their top-line revenue – customer experience, optimize the bottom-line costs – operational efficiency, enhancing the safety factor and reinventing the business process in line with the changing world.
This webinar is focused on how our AI-based text analytics solutions – First, JKT Social Media Radar; a SaaS-based AI NLP Platform, helping organizations to gain insights on market and customer perceptions on their brands, products & services. Secondly, Sales Promotion Recommendation Engine helps customers to enhance their top-line growth and streamline the bottom-line costs.
KEY TAKEAWAYS:
1) How should a business plan their journey through the Digital data revolution?
2) How can a company make use of digital data to create effective data strategies for the increased outcome(s)?
3) How IT practitioners can catalyst the digital data mining journey and attract business adoption?
4) JKT Social Media Radar solution – What, Why, Supporting Business applications, and more.
5) How can companies reduce operational costs by automating human effort-intensive tasks using cognitive Analytics?
The Global Chief Procurement Officer Survey 2018Deloitte UK
For the past seven years, the Global Chief Procurement Officer Survey has provided a global benchmark of the sentiment or procurement leaders and an insight into the key themes and challenges facing procurement, including market dynamics, value and collaboration, talent and leadership, and digital procurement.
How SME access to working capital reduces financial supply chain riskC2FO
Learn how you benefit from helping small and midsize businesses grow and invest in their operations — without increasing your supply chain risk
With global competition rising amid a growing economy, securing your supply chain is more critical than ever before. The C2FO Working Capital Outlook Survey provides detailed insight into how liquidity impacts global SME suppliers, their views on how their business will grow, and how well they can access working capital to meet your demands and fund that growth.
Survey includes responses from more than 2,000 small and midsize enterprises in the United States, the United Kingdom, Germany, France, Italy, China, and India.
Accenture North American Digital Banking Consumer Survey 2014 accenture
According to the new Accenture 2014 North America Consumer Digital Banking Survey, digital banking trends are changing traditional relationships between consumers and banks. In fact, the research suggests the relationship is increasingly uncertain as consumers are intrigued by branchless digital banks, define their relationships as merely transactional and generally want more advice and proactive financial services from their Everyday Banks. Read the PDF to learn more about the results of the survey, and how banks can respond to these threats.
Organizations today still face challenges when trying to identify, tap into and influence digital customers around their products and services. Traditional customer segmentation exercises are typically inward-facing and don’t lead to the appropriate return. In spite of mountains of data, a more transparent customer, and large investments to create digital personas and profiles of the targeted customer set, actual customer behavior and need sets are mostly shrouded in a mystery.
Blueocean Market Intelligence has created a proprietary solution called "Persona™" that enhances an organizations’ current customer segmentation or can be used to conduct an independent digital customer segmentation exercise. This solution provides insights around customers’ spending habits, purchase patterns, past behavior and purchases, recent and historical interaction with product categories, etc. It tracks and understands digital attributes, digital body language, up and downstream click data, sales funnel position and device preferences are important considerations for effectively identifying and building digital personas.
Using Persona's technology platform to capture Big Data effectively, we are able to empower global marketing teams to get closer to one-on-one marketing by delivering the right content to the right person, at the best time on the preferred channel.
The world of B2B marketing has changed dramatically with the advent of internet and the increased connectivity in today's world. Traditional marketing methods are getting increasingly ineffective as buyers become more informed and highly aware of the products or solutions they need.
Managing Uncertainty Report from Supply Management Insider & ERA Alan Birse
This survey, produced by Supply Management in conjunction with Expense Reduction Analysts, explores attitudes to Procurement within different organisations. It reviews how Procurement can help address businesses' profitability in a period of increasing uncertainty.
Spotlight on Technology: Steering Clear of the IT Danger ZonesL.E.K. Consulting
In this Executive Insights' "Spotlight on Technology: Steering Clear of the Danger Zones," learn why companies are increasingly taking advantage of IT services to migrate their industry-specific services to the cloud, how customers are utilizing vendors and which vendors will win by capitalizing on these opportunities.
Low-interest rates mean that P&C leadership teams are facing increasing pressure to generate heftier margins from their underwriting operations. More at http://gt-us.co/1japuAu
Analytics is a two-sided coin. While on one side, it uses
descriptive and predictive models to gain valuable knowledge from data, i.e. data analysis, on the other side, it provides insight to recommend action or guide decision making, i.e. communication
[AI Webinar Series P1] - How Advanced Text Analytics Can Increase the Operati...JK Tech
Digitization is considered as the next step-change that will have a bigger impact on businesses than even the internet. To win in the digital journey, companies must act now, or be left behind wondering what happened!
In this webinar series, JKT Smart Analytics demonstrates how they empower their customers to create maximum business value out of this eminent Digital data explosion through digital business empowerment by leveraging the digitization to increase their top-line revenue – customer experience, optimize the bottom-line costs – operational efficiency, enhancing the safety factor and reinventing the business process in line with the changing world.
This webinar is focused on how our AI-based text analytics solutions – First, JKT Social Media Radar; a SaaS-based AI NLP Platform, helping organizations to gain insights on market and customer perceptions on their brands, products & services. Secondly, Sales Promotion Recommendation Engine helps customers to enhance their top-line growth and streamline the bottom-line costs.
KEY TAKEAWAYS:
1) How should a business plan their journey through the Digital data revolution?
2) How can a company make use of digital data to create effective data strategies for the increased outcome(s)?
3) How IT practitioners can catalyst the digital data mining journey and attract business adoption?
4) JKT Social Media Radar solution – What, Why, Supporting Business applications, and more.
5) How can companies reduce operational costs by automating human effort-intensive tasks using cognitive Analytics?
When it comes to scrutinizing costs, most insurance companies can say “Been there, done that. Got the t-shirt.” Managers are familiar with the refrain from above to trim here and cut there. The typical result is flirtation with the latest management trends like lean, outsourcing and offshoring, and others. However, the results tend to be the same. Budgets reflect last year’s spend plus or minus a couple of percent in the same places.
This Time It's Personal: A human approach to profitable growth for insurersAccenture Insurance
Our research identifies that insurers can achieve profitable growth of 5 to 15 percent by taking a personalised approach to addressing customer needs. To convert the opportunity, insurers should follow our three-step path to value which, using data and analytics coupled with human insight techniques, creates and delivers hyper-personalised experiences that improve customer retention.
Insights Success has shortlisted the issue “The 10 Most Valuable Business Intelligence Companies 2018”. In this issue, we have highlighted the companies who are responsibly transforming business with future-proof strategies and profitability.
Axtria SalesIQTM integrates sales force deployment decision process, from strategy – to tactics – to operations, and provides an end-to-end solution for sales management to control the effectiveness and efficiency of the sales force.
Solutions for P&C Insurance industry to improve sales operations and drive sa...Synygy
Property and casualty (P&C) insurance carriers around the world face increased competition, new distribution channels, product commoditization, and mounting pressure to increase profitable performance.
In order to succeed in this highly-regulated environment, P&C insurers require a distribution management solution that can effectively manage the agent lifecycle.
Synygy’s solution includes the tools, processes, and expertise to support insurance carriers operating in diverse geographies.
www.trinityp3.com
Company Credentials Presentation for TrinityP3 Marketing Management Consultants November 2017
For more than a decade, marketing has had its costs reduced, while expectations for delivering company growth have grown. Meanwhile technology has been providing greater opportunities and at the same time greater challenges. No wonder marketers are facing more complex problems than ever before.
TrinityP3 has developed new ways to solve these new and complex marketing problems.
So what are your major marketing challenges?
1. Do you need to improve marketing performance?
2. Or optimise your agency roster and agency performance?
3. Is media transparency, value and performance an issue?
4. Or is digital transformation and technology proving a challenge?
5. Perhaps you simply want to be more agile in your delivery?
6. Or reduce waste to deliver environmentally sustainable marketing?
No matter what your problem or challenge, we have the solutions and services to provide an informed and robust analytical approach to your marketing needs.
Specialty insurance is, well special, because each risk can be unique and complex. So is it really possible to improve specialty lines underwriting? The answer is a resounding yes!
In this eBook, we’ll share best practices and lessons learned in improving specialty lines underwriting.
You’ll learn how you can use underwriting risk management systems to:
Improve underwriting profitability
Seize new market opportunities
Provide world-class broker service
View and download the complimentary survey results.
The real estate industry is fast-moving and competitive and performance is paramount. To be successful in this environment, real estate brokerages must continue innovating, keeping their sales force motivated, and ensuring sales reps embrace the firm’s goals. Brokerages must also keep sales reps focused on the deal — increasing the profitability of transactions and negotiating best prices for their clients.
Solutions for life insurance industry to improve sales operations and drive s...Synygy
Life insurance carriers around the world face competitive consolidation, emerging distribution channels, changes in buying behavior, and mounting pressure to increase profitability.
To succeed in this highly-regulated environment, insurers require distribution management solutions to effectively leverage these growing channels and strong analytics to stay ahead of the changing landscape.
Synygy’s solution includes the tools, processes, and expertise to support insurance carriers operating in diverse geographies.
To meet customers’ needs and deliver profitable growth, insurers must embrace the potential of digital underwriting. Ninety percent are investing in the function, but are they making the right investments? This report proposes a practical plan to set underwriters on the path to digital transformation. It includes the attributes they need, how they can make better use of analytics, and new technologies worth considering.
Insurance strategy: Evolving into a digital underwriter
auto-capabilities-brochure
1. your
Does your strategic plan outline how
your company will capture additional
market share?
Will it help you achieve your target
retention rate and loss ratio?
Does it include the use of analytical
insight to implement change quickly?
Are you positioned to innovate?
3. 2
Today’s auto carriers face
significant challenges
Consider the following:
• Thirty years ago, auto carriers operated in a
market where stable companies enjoyed an
average 7 percent annual growth in direct
written premium.Today, carriers operate in
a market where direct written premium
growth is flat — and has been since 2004.
• Eighty-three percent of drivers would prefer
to control their premiums by paying for
auto insurance based on how they drive.1
• Every year, 52 percent of personal auto policyholders change vehicles or drivers, and
30 percent of households add or replace at least one vehicle.2
An already competitive marketplace has become even more complex. Profit margins are
decreasing, and everyone is feeling the effects of the rapid commoditization of auto insurance.
Perhaps it’s time to rethink your partnership strategy.
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
2010
2006
2002
1998
1994
1990
1986
1982
NumberofInsurers
DirectWrittenPremium,DWP($B)
Direct Written Premium, DWP ($) Number of Insurer Groups & Singletons
100
200
300
400
500
600
Acquisitions in the insurance
market resulting in a one-third
decrease in the number of insurers
Plateau in premium
growth since 2004
Source: A.M. Best data set, ISO analysis
YOUR POLICYHOLDERS’ LIVES CHANGE EVERY
HOUR OFTHE DAY
• Every hour in the United States, there are 246 marriages,
121 divorces, 28,277 vehicle registrations, 152 new driver’s
licenses, 167 drunk driving arrests, 4 traffic fatalities, more
than 2,800 auto claims,3
5,663 geographic moves,4
and
7,100 job changes.5
• Eighty-five percent of college graduates move back home.6
• In 2010, the number of adult children living with their
parents increased to 15.8 million.7
How do you keep up with the life changes and events
affecting each policyholder’s risk profile?
Over the past 30 years, intense competition has cut the number of auto carriers by one third,
and premiums have plateaued.
4. An electric car at its charging station.As the automobile industry transforms itself,
insurers will need to innovate and act with analytical insight.
5. 4
Innovate — or get left behind
Given today’s market challenges, your company’s growth will depend on a willingness to act
with analytical insight and boldness.
Today’s leaders are masters at capturing information, analyzing it to achieve their business
goals, and implementing change quickly.
The reality is harsh, but it’s also very clear: Companies that don’t make the commitment to
innovate are at risk for downsizing or acquisition.
Innovation is the key to:
• generating profitable growth • increasing quote-to-bind ratio
• retaining the right customers • automating key processes
• using staff more effectively • enhancing the customer experience
• detecting and preventing fraud • making more profitable risk selection decisions
Fortunately, carriers don’t have to do all the work themselves.The right tools, technologies,
and analytics can help.
Verisk Insurance Solutions – Underwriting:
End-to-end services to help you innovate
now — and thrive down the road
Verisk Insurance Solutions – Underwriting offers a complete suite of tools to help you
throughout the auto underwriting cycle — from point of quote to policy monitoring and
renewal to portfolio management.We are uniquely positioned to offer end-to-end solutions
for auto carriers.
No other strategic partner has such a unique and all-encompassing perspective of our industry.
We offer a powerful mix of insight, technical expertise, and coordinated service.
We can help you make the complex simple.
Our sales professionals, technical experts, and consultants stand ready to help you select the
combination of underwriting solutions best suited to your needs.We’ll show you how to use
our insights to achieve your objectives. And we’ll provide the technical support you need to
tailor our products and services to your specific requirements.
6. 5
Analytics is the key to competing
in today’s marketplace
The value of data lies in the knowledge it reveals about customers.That’s why analytics is at
the center of everything we do.
While comprehensive data collection is important, even more critical is the ability to analyze
that data — and develop insights that support strategic decision making.
Our analytical insights can help you execute the right strategies in key market segments and
across distribution channels.They can — and should — drive the entire underwriting process.
We’ll help you transition from risk selection to risk management. And we’ll show you how to
optimize your portfolio by analyzing every risk in your book of business.
Portfolio Analytics,
Management, and
Optimization
Point of Sale
Policy Monitoring
and Renewal
Data + Analytics
+ Insight
7. 6
Point of sale
Get the most comprehensive set of data in the industry at point of sale:
• generate profitable growth
• access more accurate data
• make sharper risk selection decisions
• assure rating integrity
• improve the customer experience and satisfaction
• adopt new technologies faster
• identify cross-selling and up-selling opportunities
• optimize the money you spend on new business acquisition
• increase perception as a market leader among customers
• identify and prevent potential fraud before writing the policy
Policy monitoring and renewal
Monitor your policyholders and make sure you’re retaining the right customers:
• increase profitability through smart retention
• protect against natural deterioration of profits and retention
• minimize your expenses
• maintain rating integrity
• maximize the customer experience
• identify cross-selling and up-selling opportunities
Portfolio analytics, management, and optimization
Analyze and understand how each risk relates to your entire portfolio:
• get intelligence to drive your underwriting process
• benchmark your performance against the industry and your peers
• gain insight into other business functions, such as marketing, sales, and operations
• get a geospatial view and intelligence
• advance your pricing and segmentation strategy with telematics programs
• access the power of predictive risk models to classify, segment, and price risks
• use rating symbols to gain a greater understanding of the relative risk of loss for each vehicle
in your portfolio