This presentation provides a comprehensive overview of the current insurance industry. The focus is to further explore life, health and auto insurance, as well as some new trends, ideas and disruptions facing this sector. From there, we move into a discussion on consumer tools. This section breaks down customer insurance behaviors, and the changes coming up in 2014. To end we take a look into how various companies are leveraging technologies to advance the industry.
Market scope of US health insurance industryRony Debnath
This was an assignment work for Relisource on Market scope of US health insurance industry
Topics Discussed here:
♦What is health care insurance
♦How health care insurance works in USA?
♦Share of people with public health insurance in the United States
♦Market share of leading health insurance companies
♦Total revenue of life and health insurance industry in the United States
♦The Use of Technology With the Health Insurance Industry
♦Problems that are health insurance companies facing today
♦Scope of improvements in healthcare information technology
♦Number of health insurance home-office employees in the U.S
♦Possible opportunities
♦Major Companies & products
♦What Relisource can offer
Congratulations, if you're reading this you've almost made it through 2020! With a vaccine now being rolled out, let's look to a far more positive 2021, starting with Orbital's inaugural health tech trends document, which we enjoy pulling together every year.
I don't think there is anyone out there who'd disagree that COVID has created a monumental shift in how healthcare is delivered. We here at Orbital have explored the 10x key trends every healthcare marketer should appreciate, as well as detailed the opportunity to potentially capitalise on each.
Pour yourself a cup of tea, put your feet up, and let's get a little more excited about 2021!
A quick snapshot about importance of mobility in insurance business. With a brief overview of insurance business with extremely hig cost pressure on asset improvemen and claims management, customer data and customer behaviour becomes most important, hence insurance providers going mobile to be part of customers day-to-day life.
Straight Through Processing (STP) has reduced customer on-boarding time, claims processing time, and travel insurance issuance time, this increases the agility of the insurance business to concentrate efforts on more core activities of the business.
Enabling insurance brokers, agents with customer data on the go will enable them to better sell the insurance products.
By tracking customer health quality, eating & sleeping behaviour, fitness level which enables in calculating thee risk profile of a customer.
Using IoT, Telematics, tracking a drivers behaviour and vehicle usage helps insurers to propose innovative insurance packages.
The Digital Insurer presented at this conference on 18th June 2014.
The aim of the presentation was to look at the digital trends that are impacting health insurance and to explore how digital thinking can transform face-to-face sales of health insurance in Asia as well as develop new business models.
Visit the-digital-insurer.com for more information on digital insurance in Asia
Telenor Workshop on Welfare Tech: EDB InputNino Lo Cascio
From EDB's strategy on Health-IT towards 2020 and short term focus on self service and Health 2.0.
Input to Telenor workshop on welfare technologies, august 2010.
In 2015, the Aon Global Risk Management Survey revealed how increasing competition remained at the top of the industry’s list of concerns, but the potential for damage to brand and reputation is now second, having risen up from seventh place in the previous survey.
Like any responsible supplier, we know that the answer to delivering a good service is to ensure our customers are fully furnished with the facts that may influence their buying decisions. In this report, we consider how these factors translate into the risk profile of UK retail and how they may influence insurers to underwrite them at a good price, or lower, than last time around
The drivers of consumer value appear to have fundamentally changed, with far reaching implications for the food and beverage industry. This infographic examines these consumer-led disruptions and how they represent an opportunity, even an imperative, for manufacturers and retailers to reposition themselves with consumers and shoppers. http://www2.deloitte.com/us/en/pages/consumer-business/articles/us-food-industry-consumer-trends-report.html
IoMT: The Start of a New Era in the Healthcare IndustryPixel Crayons
Read the full blog here: https://bit.ly/32Mo5kx
Connect with us through:
Contact us : https://bit.ly/2IpPX7w
Facebook : https://www.facebook.com/PixelCrayons
Twitter : https://twitter.com/pixelcrayons
LinkedIn : https://www.linkedin.com/company/pixelcrayons
Instagram : https://www.instagram.com/pixelcrayons/
Pinterest : https://in.pinterest.com/pixelcrayons/
Market scope of US health insurance industryRony Debnath
This was an assignment work for Relisource on Market scope of US health insurance industry
Topics Discussed here:
♦What is health care insurance
♦How health care insurance works in USA?
♦Share of people with public health insurance in the United States
♦Market share of leading health insurance companies
♦Total revenue of life and health insurance industry in the United States
♦The Use of Technology With the Health Insurance Industry
♦Problems that are health insurance companies facing today
♦Scope of improvements in healthcare information technology
♦Number of health insurance home-office employees in the U.S
♦Possible opportunities
♦Major Companies & products
♦What Relisource can offer
Congratulations, if you're reading this you've almost made it through 2020! With a vaccine now being rolled out, let's look to a far more positive 2021, starting with Orbital's inaugural health tech trends document, which we enjoy pulling together every year.
I don't think there is anyone out there who'd disagree that COVID has created a monumental shift in how healthcare is delivered. We here at Orbital have explored the 10x key trends every healthcare marketer should appreciate, as well as detailed the opportunity to potentially capitalise on each.
Pour yourself a cup of tea, put your feet up, and let's get a little more excited about 2021!
A quick snapshot about importance of mobility in insurance business. With a brief overview of insurance business with extremely hig cost pressure on asset improvemen and claims management, customer data and customer behaviour becomes most important, hence insurance providers going mobile to be part of customers day-to-day life.
Straight Through Processing (STP) has reduced customer on-boarding time, claims processing time, and travel insurance issuance time, this increases the agility of the insurance business to concentrate efforts on more core activities of the business.
Enabling insurance brokers, agents with customer data on the go will enable them to better sell the insurance products.
By tracking customer health quality, eating & sleeping behaviour, fitness level which enables in calculating thee risk profile of a customer.
Using IoT, Telematics, tracking a drivers behaviour and vehicle usage helps insurers to propose innovative insurance packages.
The Digital Insurer presented at this conference on 18th June 2014.
The aim of the presentation was to look at the digital trends that are impacting health insurance and to explore how digital thinking can transform face-to-face sales of health insurance in Asia as well as develop new business models.
Visit the-digital-insurer.com for more information on digital insurance in Asia
Telenor Workshop on Welfare Tech: EDB InputNino Lo Cascio
From EDB's strategy on Health-IT towards 2020 and short term focus on self service and Health 2.0.
Input to Telenor workshop on welfare technologies, august 2010.
In 2015, the Aon Global Risk Management Survey revealed how increasing competition remained at the top of the industry’s list of concerns, but the potential for damage to brand and reputation is now second, having risen up from seventh place in the previous survey.
Like any responsible supplier, we know that the answer to delivering a good service is to ensure our customers are fully furnished with the facts that may influence their buying decisions. In this report, we consider how these factors translate into the risk profile of UK retail and how they may influence insurers to underwrite them at a good price, or lower, than last time around
The drivers of consumer value appear to have fundamentally changed, with far reaching implications for the food and beverage industry. This infographic examines these consumer-led disruptions and how they represent an opportunity, even an imperative, for manufacturers and retailers to reposition themselves with consumers and shoppers. http://www2.deloitte.com/us/en/pages/consumer-business/articles/us-food-industry-consumer-trends-report.html
IoMT: The Start of a New Era in the Healthcare IndustryPixel Crayons
Read the full blog here: https://bit.ly/32Mo5kx
Connect with us through:
Contact us : https://bit.ly/2IpPX7w
Facebook : https://www.facebook.com/PixelCrayons
Twitter : https://twitter.com/pixelcrayons
LinkedIn : https://www.linkedin.com/company/pixelcrayons
Instagram : https://www.instagram.com/pixelcrayons/
Pinterest : https://in.pinterest.com/pixelcrayons/
Our exclusive study reveals 20 key findings that will help health plans set the course for their digital member experience strategies in 2016 and beyond.
One in five US adults have some type of wearable technology and 77% want wearable tech to help them exercise smarter. 56% of US adults believe monitoring of vital signs will extend life expectancy by 10 years. Welcome to the #futureofhealth.
A look at the trends, populations and products at play.
More questions than answers face a health industry in flux grappling with new meanings of cost, value, compliance and care delivery. Different stakeholder groups offer up different answers as they accelerate to keep pace with medical innovation. Providers, payers and businesses serving healthcare are being asked to incorporate and act on new data, integrate with new platforms and pioneer new offerings to create an increasingly accessible, connected experience. What’s driving the adaptation, and what trends are worth acting on?
Accenture's study finds consumers ready to trade their data for personalization, but this appetite varies across four banking and insurance personas. Read more.
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.
As well synthesized by Meg Whitman (CEO at Hewlett-Packard) “we’re now living in an Idea Economy, where the ability to turn an idea into a new product or service has never been easier”. This impact is pervasive on all industries, any company has to achieve enough agility to respond to market opportunities and threats and quickly turn ideas into reality.
For some years now, the “digital”-driven projects have become a priority for all the Insurance Groups. Let me add that here the term “digital” refers to several important aspects starting with a digitalized customer experience, which is completed by digital/technological processes aimed at improving the relationship with the clients and with the mid-term objective of maximizing the single client’s profitability.
Insurers are beginning - and those who are not doing so should start – to give serious thought to how they can build their strategy to incorporate the IoT into the insurance value chain.
The Internet of Things (IoT) is “the interconnection via the Internet of computing devices embedded in everyday objects, enabling them to send and receive data.” The most important factor in the IoT “equation” is the data – which is the main element providing value to the insurance company if harvested and analyzed in an adequate manner. In product development there should be a data collection & analysis approach embedded in the business model itself, otherwise the strategy will lack in bringing the desired added value. Having a “data mindset” in all the stages of the business will ensure that the implemented model will have the capacity to gather and analyze the high quantity of data provided by the interconnected devices and environments.
As Matteo Carbone who is an expert in the field says in his article, ultimately telematics is the integrated use of informatics and telecommunications; it is about registering, storing and analyzing data via telecommunication devices.
“Telematics could be one of the most relevant digital innovations in the insurance industry directly impacting the technical results. Due to the pervasive diffusion of the Internet of Everything, this approach could be extended from motor insurance to other insurance businesses.”
Improving the Efficacy of Root Cause AnalysisCognizant
When medical device organizations apply a relevant and appropriate level of automation to root cause analysis, they can ensure swift action on nonconformities and avoid issue reoccurrence.
Digital Process Acupuncture: How Small Changes Can Heal Business, and Spark B...Cognizant
Our latest research reveals that by applying digital remedies to precisely targeted process areas, organizations can relieve operational stress and generate improvements, yielding outsized results that ripple across the process value chain.
Global trends in life insurance policy administration and underwritingCapgemini
While gross written premiums are starting to recover from the declines at the height of the financial crisis, insurance companies are still finding growth is weak overall— especially in industrialized markets. To protect and grow profits in this environment, insurers are focusing on capturing efficiencies, especially in the policy administration and underwriting area.
This paper explores key trends for life insurers including: increased use of business process outsourcing for closed book operations; the increased adoption of self-service for policy servicing; and the enhanced use of business intelligence analytics for underwriting.
Les assureurs seraient avisés de prendre la menace très au sérieux. D'après la nouvelle édition du « World Insurance Report » réalisé par Capgemini et l'Efma auprès de plus de 15.500 consommateurs dans 30 pays, un nombre non négligeable de jeunes clients (23,4 %) est en effet prêt à se tourner vers des opérateurs non traditionnels.
Discover how emerging technology themes, enabled by the Internet of Things, are slowly transforming customer lives and allowing insurers to measure and control risks with the World Insurance Report 2016. Using data from over 15,000 customers worldwide, and over 180 executive interviews, the report also reveals that Gen Y customers, with their high digital expectations have held the overall customer experience down.
Annuity and Life Insurance Product Update - Q1 2015Corporate Insight
Our quarterly Annuity and Life Insurance Product Update reviews new products released by annuity carriers and life insurers over the last quarter. This slide deck reviews the new annuity and life insurance products introduced in the first quarter of 2015.
Insurance IoT Observatory is a six-year-old think tank specialized on the insurance IoT with the participation of top executives from the most relevant Insurers, Reinsurers, and Tech players in the IoT insurance arena
The think tank membership provides access to the most globally relevant insurance IoT knowledge
Convergence of AI, IoT, Big Data and Blockchain: A Review.
Kefa Rabah .
Mara Research, Nairobi, Kenya .
Abstract
Data is the lifeblood of any business. Today, big data has applications in just about every industry – retail, healthcare,
financial services, government, agriculture, customer service among others. Any organization that can assimilate data
to answer nagging questions about their operations can benefit from big data. In overall, the demand for big data
transcend across all sectors and business. Those who work to understand their customers’ business and their problems
will be able to proactively identify big data solutions appropriate to their needs, and thus gain competitive advantage
over their competitors. Job demand for people with big data skill-set is also in the rise especially professional,
scientific and technical services; information technology; manufacturing; and finance and insurance; and retail.
DevOps is baseless without the cloud. IoT needs cloud to operate efficiently, for computing is required by the cloud
operate efficiently. AI remained only as model up until the advent of big data. Blockchain and related distributed
ledger technologies are disrupting the technology sector as we know it. The confluence of technologies is just
inevitable and often they are beneficial especially today when usher in the 4th industrial revolution (Rabah, 2017a)
and the forth coming machine economy (Rabah, 2018). More-so, data is a key ingredient of approaches to developing
AI and machine learning, which are now being applied to a wide variety of uses, from stock trading to chatbots to
self-driving cars. There is barely a business or human activity today that is not considered as a target for AI in future
years and decades.
The New Age of Pet Insurance: Barking up the Right TreeCognizant
The needs of pet owners present a high-growth opportunity for insurers to create new products and cross-sell existing services. Here’s how insurers can embrace new strategies and align their products, distribution, underwriting, claims and operations to tap into this market.
Optimizing the Content Supply Chain: What Manufacturing Can Teach the Broadca...Cognizant
By applying best practices and models used to optimize physical supply chains, broadcasters can more effectively manage their digital content operations.
Presentation: Distribution Channels for Life Insurance, A Global PerspectiveIntelligo Consulting
Presentation at the 2nd Annual Life Insurance Forum, Amsterdam, 9-10 April 2014
- Bancassurance as a major distribution channel for life insurance
- Consumer research: distribution of protection-related life insurance in Europe
- The global market for creditor / creditor life insurance
Credit Marketing Strategies to Capture Today's Digital ConsumerExperian
Consumers look at their smartphones an average 150 times per day. They are active on multiple social media platforms. Many consistently make online purchases. We live in a digital world, but is your credit-based marketing keeping up with the times? This slideshare reveals the latest trends and insights regarding consumer engagement with credit offers. Are consumers responding to direct mail, email or something else in the financial services space? Learn about insights specific to credit offers and how consumers are responding via various digital channels. Discover the latest channels financial marketers can leverage when delivering firm offers of credit.
Understand best practices to capture eyes on your financial offers and maximize your marketing spend.
This presentation provides a comprehensive overview of the current pharmaceutical industry. It begins with a look at some of the changes facing the industry and then moves into a discussion on digital technology and its impact on pharmaceutical companies. From there, the deck explores two digital trends, mobile and eDetailing. The presentation wraps up with some examples of pharmaceutical companies their digital presence.
Our exclusive study reveals 20 key findings that will help health plans set the course for their digital member experience strategies in 2016 and beyond.
One in five US adults have some type of wearable technology and 77% want wearable tech to help them exercise smarter. 56% of US adults believe monitoring of vital signs will extend life expectancy by 10 years. Welcome to the #futureofhealth.
A look at the trends, populations and products at play.
More questions than answers face a health industry in flux grappling with new meanings of cost, value, compliance and care delivery. Different stakeholder groups offer up different answers as they accelerate to keep pace with medical innovation. Providers, payers and businesses serving healthcare are being asked to incorporate and act on new data, integrate with new platforms and pioneer new offerings to create an increasingly accessible, connected experience. What’s driving the adaptation, and what trends are worth acting on?
Accenture's study finds consumers ready to trade their data for personalization, but this appetite varies across four banking and insurance personas. Read more.
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.
As well synthesized by Meg Whitman (CEO at Hewlett-Packard) “we’re now living in an Idea Economy, where the ability to turn an idea into a new product or service has never been easier”. This impact is pervasive on all industries, any company has to achieve enough agility to respond to market opportunities and threats and quickly turn ideas into reality.
For some years now, the “digital”-driven projects have become a priority for all the Insurance Groups. Let me add that here the term “digital” refers to several important aspects starting with a digitalized customer experience, which is completed by digital/technological processes aimed at improving the relationship with the clients and with the mid-term objective of maximizing the single client’s profitability.
Insurers are beginning - and those who are not doing so should start – to give serious thought to how they can build their strategy to incorporate the IoT into the insurance value chain.
The Internet of Things (IoT) is “the interconnection via the Internet of computing devices embedded in everyday objects, enabling them to send and receive data.” The most important factor in the IoT “equation” is the data – which is the main element providing value to the insurance company if harvested and analyzed in an adequate manner. In product development there should be a data collection & analysis approach embedded in the business model itself, otherwise the strategy will lack in bringing the desired added value. Having a “data mindset” in all the stages of the business will ensure that the implemented model will have the capacity to gather and analyze the high quantity of data provided by the interconnected devices and environments.
As Matteo Carbone who is an expert in the field says in his article, ultimately telematics is the integrated use of informatics and telecommunications; it is about registering, storing and analyzing data via telecommunication devices.
“Telematics could be one of the most relevant digital innovations in the insurance industry directly impacting the technical results. Due to the pervasive diffusion of the Internet of Everything, this approach could be extended from motor insurance to other insurance businesses.”
Improving the Efficacy of Root Cause AnalysisCognizant
When medical device organizations apply a relevant and appropriate level of automation to root cause analysis, they can ensure swift action on nonconformities and avoid issue reoccurrence.
Digital Process Acupuncture: How Small Changes Can Heal Business, and Spark B...Cognizant
Our latest research reveals that by applying digital remedies to precisely targeted process areas, organizations can relieve operational stress and generate improvements, yielding outsized results that ripple across the process value chain.
Global trends in life insurance policy administration and underwritingCapgemini
While gross written premiums are starting to recover from the declines at the height of the financial crisis, insurance companies are still finding growth is weak overall— especially in industrialized markets. To protect and grow profits in this environment, insurers are focusing on capturing efficiencies, especially in the policy administration and underwriting area.
This paper explores key trends for life insurers including: increased use of business process outsourcing for closed book operations; the increased adoption of self-service for policy servicing; and the enhanced use of business intelligence analytics for underwriting.
Les assureurs seraient avisés de prendre la menace très au sérieux. D'après la nouvelle édition du « World Insurance Report » réalisé par Capgemini et l'Efma auprès de plus de 15.500 consommateurs dans 30 pays, un nombre non négligeable de jeunes clients (23,4 %) est en effet prêt à se tourner vers des opérateurs non traditionnels.
Discover how emerging technology themes, enabled by the Internet of Things, are slowly transforming customer lives and allowing insurers to measure and control risks with the World Insurance Report 2016. Using data from over 15,000 customers worldwide, and over 180 executive interviews, the report also reveals that Gen Y customers, with their high digital expectations have held the overall customer experience down.
Annuity and Life Insurance Product Update - Q1 2015Corporate Insight
Our quarterly Annuity and Life Insurance Product Update reviews new products released by annuity carriers and life insurers over the last quarter. This slide deck reviews the new annuity and life insurance products introduced in the first quarter of 2015.
Insurance IoT Observatory is a six-year-old think tank specialized on the insurance IoT with the participation of top executives from the most relevant Insurers, Reinsurers, and Tech players in the IoT insurance arena
The think tank membership provides access to the most globally relevant insurance IoT knowledge
Convergence of AI, IoT, Big Data and Blockchain: A Review.
Kefa Rabah .
Mara Research, Nairobi, Kenya .
Abstract
Data is the lifeblood of any business. Today, big data has applications in just about every industry – retail, healthcare,
financial services, government, agriculture, customer service among others. Any organization that can assimilate data
to answer nagging questions about their operations can benefit from big data. In overall, the demand for big data
transcend across all sectors and business. Those who work to understand their customers’ business and their problems
will be able to proactively identify big data solutions appropriate to their needs, and thus gain competitive advantage
over their competitors. Job demand for people with big data skill-set is also in the rise especially professional,
scientific and technical services; information technology; manufacturing; and finance and insurance; and retail.
DevOps is baseless without the cloud. IoT needs cloud to operate efficiently, for computing is required by the cloud
operate efficiently. AI remained only as model up until the advent of big data. Blockchain and related distributed
ledger technologies are disrupting the technology sector as we know it. The confluence of technologies is just
inevitable and often they are beneficial especially today when usher in the 4th industrial revolution (Rabah, 2017a)
and the forth coming machine economy (Rabah, 2018). More-so, data is a key ingredient of approaches to developing
AI and machine learning, which are now being applied to a wide variety of uses, from stock trading to chatbots to
self-driving cars. There is barely a business or human activity today that is not considered as a target for AI in future
years and decades.
The New Age of Pet Insurance: Barking up the Right TreeCognizant
The needs of pet owners present a high-growth opportunity for insurers to create new products and cross-sell existing services. Here’s how insurers can embrace new strategies and align their products, distribution, underwriting, claims and operations to tap into this market.
Optimizing the Content Supply Chain: What Manufacturing Can Teach the Broadca...Cognizant
By applying best practices and models used to optimize physical supply chains, broadcasters can more effectively manage their digital content operations.
Presentation: Distribution Channels for Life Insurance, A Global PerspectiveIntelligo Consulting
Presentation at the 2nd Annual Life Insurance Forum, Amsterdam, 9-10 April 2014
- Bancassurance as a major distribution channel for life insurance
- Consumer research: distribution of protection-related life insurance in Europe
- The global market for creditor / creditor life insurance
Credit Marketing Strategies to Capture Today's Digital ConsumerExperian
Consumers look at their smartphones an average 150 times per day. They are active on multiple social media platforms. Many consistently make online purchases. We live in a digital world, but is your credit-based marketing keeping up with the times? This slideshare reveals the latest trends and insights regarding consumer engagement with credit offers. Are consumers responding to direct mail, email or something else in the financial services space? Learn about insights specific to credit offers and how consumers are responding via various digital channels. Discover the latest channels financial marketers can leverage when delivering firm offers of credit.
Understand best practices to capture eyes on your financial offers and maximize your marketing spend.
This presentation provides a comprehensive overview of the current pharmaceutical industry. It begins with a look at some of the changes facing the industry and then moves into a discussion on digital technology and its impact on pharmaceutical companies. From there, the deck explores two digital trends, mobile and eDetailing. The presentation wraps up with some examples of pharmaceutical companies their digital presence.
This presentation is part of our continuing series of training modules for the Financial Services Industry. The Insurance Industry Overview module provides a quick look at products offered by insurance companies and how insurance companies are organized. We provide training in a wide range of topics targeted at the business lines of financial services companies. Contact us for a quote or a needs analysis. Please email me at: Floyd.saunders@yahoo.com.
While insuretech has become a major area of interest among VCs, we recognize that few investors in the space have comprehensive knowledge of the industry. To better understand the complexities and opportunities in the space, we have compiled the research report posted below. The report provides an overview of the auto, homeowners, life, and health insurance sectors. We hope you find the presentation insightful and welcome comments and questions.
Social Media For Sales In The Insurance IndustryRoop & Co.
A presentation, developed by Roop & Co. marketing communcations, that explains how social media can support sales in the insurance industry. It includes statistical data, examples, and quick tips for getting started.
Building a Code Halo Economy for InsuranceCognizant
By finding meaning in the digital data that accumulates around people, processes, organizations and things, insurers can simultaneously reinvent how they operate and reshape their customers' experience.
Please find here our first Insurance Review on Digital Disruption of the Insurance sector. We've put together the best, most shared and liked articles on this topic. All articles have been published before on our Financial Services blog
Branding Professional Services is an overview of the capabilities and process of Miles Design, an Indianapolis branding and design firm.
- Who is Miles Design
- Why Rebrand?
- What is the Process?
- Sample Work
This presentation provides a comprehensive overview of the current auto industry. The focus is to further explore car manufacturers, as well as some new technologies and ideas facing this sector. From there, we move into a discussion on car dealers. This section breaks down customer car buying behaviors, during the pre-shopping and dealership shopping phases. To end we take a look into how various companies are leveraging technologies to advance the industry.
To deal with large amounts of data while offering high availability and throughput and low latency, cloud computing systems rely on distributed, partitioned, and replicated data stores. Such cloud storage systems are complex software artifacts that are very hard to design and analyze. We argue that formal specification and model checking should be beneficial during their design and validation. In particular, we propose rewriting logic and its accompanying Maude tools as a suitable framework for formally specifying and analyzing both the correctness and the performance of cloud storage systems.
This talk gives an overview of the use of rewriting logic at the University of Illinois' Assured Cloud Computing center on industrial data stores such as Google's Megastore and Facebook/Apache's Cassandra. We also briefly summarize the experiences of the use of a different formal method for similar purposes by engineers at Amazon Web Services.
From cure to care: the disruptive opportunity of connected health insuranceAndrea Silvello
Multiple innovations are radically changing the insurance sector business profile.
Client expectations:
- Customer satisfaction has improved significantly
- 3 clients out of 4 expect to be able to interact via multiple channels with the insurance company
- International studies prove a high availability to share personal information when presented with discounts or aditional services
- Growing request for transparency
Product structure:
- Connected insurance is more and more present (Oscar for health, Cardif for home, RCIS in crop insurance)
- Pay per use (e.g. Metromile)
- Digital insurance snack (e.g. temporary coverage offered by - - Tokyo Marine via mobile, the agreement between Generali and Obi Worldphones)
- Cash back linked to “exemplary” behavior (e.g. Vitality Drive)
Presentation for the 2015 Life and Annuity Symposium in NY.
This presentation discusses the potential for life insurance to be disrupted by online distribution.
A deep dive look at the connected insurance technology sector, providing an insurance startup map, trends/insights, and relevant company profile examples.
Life Insurance industry has been witnessing low persistency (a policy's ability to be active and sustained premium payment)rate hence the proactive need for customer retention and maximizing renewal premium collection and need for monitoring the performance of intermediaries and agents could gain immense value from deriving highly usable recommendations.
The need for such inferences, importantly in a timely basis can't be more important than now as the rightful and the revised guidelines by the regulator ensures the need to minimize wrong selling, increased persistency and performance of all the stakeholders in Life Insurance to make business a flourishing one.
How did the evolving need of the industry coupled with constant change in market and competitive landscape was married and focused approaches were espoused through with tangible benefits on Customer Value Retention and Maximization & agent's performance improvement were met.
What are the recommendations from Sameer to individuals & enterprises who intend to devise their Analytical Vision for their respective organization, what are the areas to be considered before embarking such a journey
.
Tracxn Insurance Tech Landscape June 2016 ReportTracxn
Business models like Internet first insurers, enablers, distribution platforms, and P2P insurance, all have seen an uptick in number of companies founded.
Employing Analytics to Automate and Optimize Insurance DistributionCognizant
Today's insurers have the opportunity to employ advanced analytics to automate and optimize distribution, analyze and track customer patterns, enhance marketing campaigns, better manage agents and deliver more value to the business and its customers.
Accenture research reveals how transforming to a living business enables insurance companies to achieve sustainable growth through hyper-relevance. To learn more visit: https://www.accenture.com/us-en/insights/insurance/living-business
6º Resseguro - Vida Individual - Novas Coberturas e Ferramentas de Subscrição...CNseg
Palestra apresentada por Charles Lutz no 6º Encontro de Resseguro do Rio de Janeiro, realizado nos dias 5 e 6 de abril de 2017, no hotel Sofitel Copacabana.
The future of insurance distribution: New models for a digital customerAccenture Insurance
This report argues that incumbents need to embrace digital disruption, form partnerships and adopt innovative technologies to improve customer engagement and create new opportunities for growth. It introduces five new distribution models that insurers should consider, as well as six ‘lenses’ through which they can be evaluated.
Your insurance clients know that far-sighted players are already confronting the future of insurance distribution. Use this report to help them assess their options.
Today’s customers are more and more self supporting, deciding for themselves when, where and how to interact with the insurer or agents/brokers. They value multi-channel integration and expect all interactions to be fully harmonized. Delivering high-quality service across all customer channels requires a new working model between agents and brokers and the insurer, in response to the changing environment. Ignoring this market demand may lead to profitability challenges; a coordinated, comprehensive response is needed. A better multi-channel strategy includes the direct and online as well as offline channels—agents and brokers and prevents potential channel conflicts.
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.
Placing Customer Centricity at the Heart of Healthcare1to1 Media
A look at how healthcare providers, pharmaceuticals, and health insurers are adapting to the changing customer landscape and evolving their patient experiences. www.1to1media.com
Etude PwC "Insurance 2020" : dommage et digital (2014)PwC France
http://bit.ly/AssuranceEnLigne
Pour les compagnies d’assurance, multiplier les échanges numériques avec les clients est un élément essentiel pour les fidéliser et se différencier des concurrents. C’est ce que révèle le rapport de PwC "Insurance 2020: The digital prize – Taking customer connection to a new level". Le cabinet d’audit et de conseil a interrogé plus de 9 000 consommateurs dans le monde, dont 500 français.
Multi Channel Distribution in Insurance - WhitepaperNIIT Technologies
This whitepaper explores the need to develop an effective multi-channel distribution strategy that meets customer demands and delivers differentiating customer experience. Apart from the conventional ways of marketing an insurance policy, which include brokers, agents, kiosks, work site marketing and direct marketing, insurance companies now explore new avenues of innovative and attractive range of distribution techniques that can be exploited to their advantage.
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
Caregiving Innovation Frontiers: A universal need, a growing opportunity — le...Longevity Network
Can 40 million caregivers count on you?
Where can I find reliable help with meals and medications? What does this bill mean, and will my insurance cover it? And how can I help Mom and Dad stay safe and healthy? As people live longer lives, questions like these touch us all. According to the 2015 report “Caregiving in the U.S.,” an AARP and National Alliance for Caregiving study, nearly 40 million Americans in 2014 were providing unpaid care to people who are older, disabled, or otherwise in need of assistance. A quarter were millennials and half were under the age of 50. Some call it “informal” care, but there’s nothing informal about the emotional, financial and day-to-day stress such a role can involve or the growing gap between the number of caregivers and the number of care recipients. By 2020, 117 million Americans are expected to need assistance of some kind, yet the overall number of caregivers is only expected to reach 45 million.
Go digital or die. Are Middle East insurers ready?Olivier Bauchart
How quickly would they go in adopting the right digital/business transformation? How far would they go? What would the enablers be? What would the benefits be in doing so…but why would they embark on this journey in the first place? How would an aggregator manage to attract global brands to enrich their panels and increase their conversion rate?
As far as eCommerce, Online Insurance and Aggregators are concerned, let’s structure this outlook in 3 sections spanning Market Reality, Digital Transformation and Business Transformation.
Removing Uninteresting Bytes in Software FuzzingAftab Hussain
Imagine a world where software fuzzing, the process of mutating bytes in test seeds to uncover hidden and erroneous program behaviors, becomes faster and more effective. A lot depends on the initial seeds, which can significantly dictate the trajectory of a fuzzing campaign, particularly in terms of how long it takes to uncover interesting behaviour in your code. We introduce DIAR, a technique designed to speedup fuzzing campaigns by pinpointing and eliminating those uninteresting bytes in the seeds. Picture this: instead of wasting valuable resources on meaningless mutations in large, bloated seeds, DIAR removes the unnecessary bytes, streamlining the entire process.
In this work, we equipped AFL, a popular fuzzer, with DIAR and examined two critical Linux libraries -- Libxml's xmllint, a tool for parsing xml documents, and Binutil's readelf, an essential debugging and security analysis command-line tool used to display detailed information about ELF (Executable and Linkable Format). Our preliminary results show that AFL+DIAR does not only discover new paths more quickly but also achieves higher coverage overall. This work thus showcases how starting with lean and optimized seeds can lead to faster, more comprehensive fuzzing campaigns -- and DIAR helps you find such seeds.
- These are slides of the talk given at IEEE International Conference on Software Testing Verification and Validation Workshop, ICSTW 2022.
Securing your Kubernetes cluster_ a step-by-step guide to success !KatiaHIMEUR1
Today, after several years of existence, an extremely active community and an ultra-dynamic ecosystem, Kubernetes has established itself as the de facto standard in container orchestration. Thanks to a wide range of managed services, it has never been so easy to set up a ready-to-use Kubernetes cluster.
However, this ease of use means that the subject of security in Kubernetes is often left for later, or even neglected. This exposes companies to significant risks.
In this talk, I'll show you step-by-step how to secure your Kubernetes cluster for greater peace of mind and reliability.
UiPath Test Automation using UiPath Test Suite series, part 5DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 5. In this session, we will cover CI/CD with devops.
Topics covered:
CI/CD with in UiPath
End-to-end overview of CI/CD pipeline with Azure devops
Speaker:
Lyndsey Byblow, Test Suite Sales Engineer @ UiPath, Inc.
GraphSummit Singapore | The Art of the Possible with Graph - Q2 2024Neo4j
Neha Bajwa, Vice President of Product Marketing, Neo4j
Join us as we explore breakthrough innovations enabled by interconnected data and AI. Discover firsthand how organizations use relationships in data to uncover contextual insights and solve our most pressing challenges – from optimizing supply chains, detecting fraud, and improving customer experiences to accelerating drug discoveries.
Alt. GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using ...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
How to Get CNIC Information System with Paksim Ga.pptxdanishmna97
Pakdata Cf is a groundbreaking system designed to streamline and facilitate access to CNIC information. This innovative platform leverages advanced technology to provide users with efficient and secure access to their CNIC details.
Essentials of Automations: The Art of Triggers and Actions in FMESafe Software
In this second installment of our Essentials of Automations webinar series, we’ll explore the landscape of triggers and actions, guiding you through the nuances of authoring and adapting workspaces for seamless automations. Gain an understanding of the full spectrum of triggers and actions available in FME, empowering you to enhance your workspaces for efficient automation.
We’ll kick things off by showcasing the most commonly used event-based triggers, introducing you to various automation workflows like manual triggers, schedules, directory watchers, and more. Plus, see how these elements play out in real scenarios.
Whether you’re tweaking your current setup or building from the ground up, this session will arm you with the tools and insights needed to transform your FME usage into a powerhouse of productivity. Join us to discover effective strategies that simplify complex processes, enhancing your productivity and transforming your data management practices with FME. Let’s turn complexity into clarity and make your workspaces work wonders!
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Why You Should Replace Windows 11 with Nitrux Linux 3.5.0 for enhanced perfor...SOFTTECHHUB
The choice of an operating system plays a pivotal role in shaping our computing experience. For decades, Microsoft's Windows has dominated the market, offering a familiar and widely adopted platform for personal and professional use. However, as technological advancements continue to push the boundaries of innovation, alternative operating systems have emerged, challenging the status quo and offering users a fresh perspective on computing.
One such alternative that has garnered significant attention and acclaim is Nitrux Linux 3.5.0, a sleek, powerful, and user-friendly Linux distribution that promises to redefine the way we interact with our devices. With its focus on performance, security, and customization, Nitrux Linux presents a compelling case for those seeking to break free from the constraints of proprietary software and embrace the freedom and flexibility of open-source computing.
Unlocking Productivity: Leveraging the Potential of Copilot in Microsoft 365, a presentation by Christoforos Vlachos, Senior Solutions Manager – Modern Workplace, Uni Systems
Observability Concepts EVERY Developer Should Know -- DeveloperWeek Europe.pdfPaige Cruz
Monitoring and observability aren’t traditionally found in software curriculums and many of us cobble this knowledge together from whatever vendor or ecosystem we were first introduced to and whatever is a part of your current company’s observability stack.
While the dev and ops silo continues to crumble….many organizations still relegate monitoring & observability as the purview of ops, infra and SRE teams. This is a mistake - achieving a highly observable system requires collaboration up and down the stack.
I, a former op, would like to extend an invitation to all application developers to join the observability party will share these foundational concepts to build on:
4. overview
statistics
91 M adults in
the U.S. do not
have any life
insurance1
40% of American
households
would be unable
to meet
expenses if their
spouse died5
57% of women
have some kind
of life insurance3
61% of men have
some kind of life
insurance2
50% of
Americans admit
they do not have
adequate life
insurance4
1-4."Life Insurance Facts & Figures." Whole Term Life Insurance Quotes. N.p., 26 Apr. 2012. Web. <http://www.infographicpost.com/termand-whole-life-insurance-facts-figures/2012/04/26>.
5-6. "What You Need to Know About Life Insurance." LIFE A Nonprofit Organization. N.p., n.d. Web. <http://www.lifehappens.org/pdf/
printable-consumer-guide/life-insurance-pcg.pdf>.
93% of
Americans agree
life insurance is
something most
people need6
5. overview
market share 2012
6%
5% 5%
21%
7%
7%
14%
10%
12%
13%
MetLife
Aflac
Prudential
Northwestern Mutual
New York Life
Lincoln National
John Hancock
MassMutual
Aegon
State Farm
Figure 1.Hersch, Warren. "NAIC Names Top 25 Life Carriers by Market Share." Life Health Pro. N.p., 13 Mar. 2013. Web.
6. overview
fundamental changes
Customer
• real time decision support
• customization and
personalization of product and
services
Technology
• full integration of old channels
with a new digital core
• harnessing the power of
predictive tools and techniques
Competition
• threat from other industries or
new startups entering the
market7
7.Jackson, Graham, Jeremy Lefebure, and Vicki Symmerhayes. "Life Insurance The Digital Insurer: Change Now to Get Ahead." Accenture. Accenture, 2012. Web.
8. trend 1
boomers vs. millennials
•
two fundamentally different groups, insurers need to
decide who they will target, will it be the 55+ or the
under 35 age group
•
each segment will require a complete restructure of
current distribution models to satisfy customer
needs
•
•
first movers will have an advantage
companies that fail to act will become providers of
commoditized insurance in a market looking for
personalization8
8. French, Doug, and James O'Neill. "The Future of Life Insurance." Ernst & Young. N.p., Sept.-Oct. 2012. Web.
9. trend 1
challenges
•
two segments have almost opposite needs and
buying preferences
•
customers may turn to buying direct from online
channels (much like what has happened to
bookstores, travel agencies and stock broker firms)
•
as customers better understand life insurance needs
through independent online research, self service will
become more popular
•
failing to adapt, insurers lose an opportunity to
strengthen existing relationships or develop new ones
with young buyers9
9. French, Doug, and James O'Neill. "The Future of Life Insurance." Ernst & Young. N.p., Sept.-Oct. 2012. Web.
10. trend 1
55 & over
•
these customers have turned to advisors for a personalized service
approach
•
they have a complex set of financial needs, and need advice on financial
planning and retirement income advice
•
insurers will need to acquire knowledge to act more like financial planners
and investment advisers
•
major investments will need to be made to meet customer needs
•
changes will occur across technology infrastructure and toolsets, product
development processes, data management, agency incentives and
training
•
insurers will face new competition from wealth management companies
as they are better equipped in technology and have a stronger suite of
products to meet customer needs10
10. French, Doug, and James O'Neill. "The Future of Life Insurance." Ernst & Young. N.p., Sept.-Oct. 2012. Web.
11. trend 1
under 35
•
younger generation is looking for fairly basic protection and
savings as they enter the market for the first time
•
they prefer to conduct as much as possible online
•
insurers who plan to serve this segment will need a technologically
savvy and connected agency force
•
agents will have to play new roles and capture data about
individual consumers and feed it back to the home office in order
to effectively measure customer engagement
•
there is no optimal data source to track these trends, an agency
force with the listening capabilities and agility to play this role will
succeed11
11. French, Doug, and James O'Neill. "The Future of Life Insurance." Ernst & Young. N.p., Sept.-Oct. 2012. Web.
12. trend 1
defining future success
•
10 - 15 years the number of people in different life stages will be a
significant driver for life insurers choosing which primary market to
serve
•
who they will serve should be determined by a self assessment of
carriers current operational strengths, as well as where they are
most strategically positioned to succeed
•
depending on the segment life insurance carriers must understand
how and what customers want to buy more precisely than they do
today
•
this will require a retooling of their distribution channels to address
the unique needs and opportunities associated with each of the
major segments12
12. French, Doug, and James O'Neill. "The Future of Life Insurance." Ernst & Young. N.p., Sept.-Oct. 2012. Web.
14. trend 2
the digital insurer
Successful life insurers will demonstrate
3 characteristics.
1. Connected - reinvent the customer
experience and place customers at
the heart of their business
2. Analytic - exhibit richer insights and
smarter decisions to enable better
outcomes
3. Agile - constantly stay one step
ahead13
13. Jackson, Graham, Jeremy Lefebure, and Vicki Symmerhayes. "Life Insurance The Digital Insurer: Change Now to Get Ahead." Accenture. Accenture, 2012. Web.
15. trend 2
the digital insurer
connected
•
physically and emotionally connected with consumers, and
stay in tun with changing customer sentiments, behaviors
and expectations
•
multi-channel sales and service as a standard offering, fully
integrating old channels with a new digital core
•
embracing and actively engaging through relevant social
media, such as social and mobile platforms
•
harnessing deeper collaboration and connection with a
broader group of stakeholders including customers,
employees, partners, distributors and suppliers14
14.Jackson, Graham, Jeremy Lefebure, and Vicki Symmerhayes. "Life Insurance The Digital Insurer: Change Now to Get Ahead." Accenture. Accenture, 2012. Web.
16. trend 2
the digital insurer
analytic
•
richer insights and smarter decisions to enable better
outcomes
•
tap into and exploit value from the explosion of data
•
harness the power of next generation predictive tools and
techniques
•
wire analytics into core processes and decision making
•
integrate real-time decision support, drive more value from
each customer interaction
•
customize and personalize products and services15
15. Jackson, Graham, Jeremy Lefebure, and Vicki Symmerhayes. "Life Insurance The Digital Insurer: Change Now to Get Ahead." Accenture. Accenture, 2012. Web.
17. trend 2
the digital insurer
agile
•
execute operational excellence built around lean core
business processes and strong process management
disciplines
•
use an intelligent sourcing approach, making cost effective
and flexible use of supplier capabilities
•
develop early warning and rapid response mechanisms to
constantly scan, assess and initiate changes based on market
movements and opportunities
•
deliver greater, faster and cheaper change through agile
methods
•
foster a culture of innovation and entrepreneurship16
16.Jackson, Graham, Jeremy Lefebure, and Vicki Symmerhayes. "Life Insurance The Digital Insurer: Change Now to Get Ahead." Accenture. Accenture, 2012. Web.
19. competition
IEnetwork
Mobile life insurance app to find the
best quotes quickly and easily.
•
easily estimate quotes across 100+
carriers
•
no annual/monthly fees
•
up-to-date quotes
•
includes policy fees17
17. "IEnetwork." Manage, Market & Recruit. N.p., n.d. Web. <https://www.ienetwork.com/>.
20. competition
cakehealth
The best free way to manage health
care plans online.
•
track health spending by entering
insurance credentials
•
visibility into medical payments,
and peace of mind that you are on
top of your bills
•
helps you find a plan that’s
optimized specifically for your
needs
•
keep up with routine check-ups and
doctor’s appointments18
18. "The Best Free Way to Manage Healthcare." CakeHealth. N.p., n.d. Web. <https://cakehealth.com/>.
21. life insurance industry
summary
Life insurers will need to provide customers with a innovative and
personalized experience. Insurers will need to embrace digital
technologies that are preferred by their target segment. On the
retail side, insurers will need to focus on acquiring and training
high performing agents and providing with them with the proper
tools to effectively serve their customer base. Ultimately, insurers
who accomplish this will gain a significant advantage in the
marketplace, while those that don’t will be replaced by new
entrants.
22. life Insurance Industry
opportunities for the future
•
develop integrated tools to give customers access to
information and educate themselves on different types of life
insurance
•
create mobile and online tools to provide agents with the
ability to collect, monitor, manage and quantify data
•
design mobile tools to assist insurers with segmented
targeting and selling strategies
24. overview
statistics
Individuals’
contribution to
health care is
rising 10% a
year19
Medical bills are
a major cause of
60% of
bankruptcies in
the US23
875,000
Americans were
medical tourists
in 201021
18% of
Americans are
uninsured20
41% of working
Americans have
medical bill
problems or are
paying off
medical debt22
Women pay
approximately
30% more for
health
insurance24
19. Komisar, Harrient. "The Effects of Rising Health Care Costs on Middle Class Economic Security." AARP Public Policy Institute. N.p., n.d. Web.
20-24. "Health Insurance Facts." EnhanceInsurance.com. Enhance Insurance, n.d. Web. <http://www.enhanceinsurance.com/images/health-insurance-facts-infographic.jpg>.
26. overview
fundamental changes
•
customers are more likely to purchase insurance from nontraditional sources
•
private insurers and employers are likely to pursue contracts
with accountable care organizations
•
increase in private health insurance exchanges
•
new legislation, starting the 1st of the new year, health
insurers won’t be able to turn people away because of health
problems25
25."Health Reform: Seven Things You Need to Know Now." Consumer Reports. Consumerreports.org, n.d. Web.
28. trend 1
overview
•
PwC estimates by 2019 28 million
Americans will purchase health
insurance through this new online
channel
•
52% of health insurance executives
plan to compete and participate in
the exchanges
•
exchanges will create an array of
new choices for customers in the
individual and small group markets
•
top concerns for insurers are
adverse selection and technology
integration (payment & enrollment
transactions)26
26.Barnes, Kelly, Michael Galper, and Jeffery Gitlin. "Change the Channel Health Insurance Exchanges Expand Choice and Competition." PwC. PwC, July 2011. Web.
29. trend 1
2014 changes
Health insurers will not be permitted to...
•
deny coverage or charge different premiums based on a
person’s health or claim history
•
charge premiums that are more than 3x higher than the
lowest premium, based on age, for the same product and
geography
•
spend less than 80% of premium dollars on medical expenses
for the individual and small group markets27
27. Barnes, Kelly, Michael Galper, and Jeffery Gitlin. "Change the Channel Health Insurance Exchanges Expand Choice and Competition." PwC. PwC, July 2011. Web.
30. trend 1
2014 changes
What insurers can do...
•
charge different rates based on geography, number of
persons covered (ie. single, family), age and tobacco use
•
there are limitations on the premium variation for age and
tobacco use
•
charge a smoker 1.5x the premium of a non-smoker28
28. Barnes, Kelly, Michael Galper, and Jeffery Gitlin. "Change the Channel Health Insurance Exchanges Expand Choice and Competition." PwC. PwC, July 2011. Web.
31. trend 1
for customers
top things health insurers can do to make insurance purchasing
more user friendly...
•
72% provide a clear view of what is covered
•
46% make it easy to talk to someone at the insurance
company
•
43% provide tool to estimate costs of common procedures
•
37% offer a way to compare insurance products
•
31% make it easy to change plans
•
20% offer multiple methods of payment (ie. electronic or
automatic payment)29
29. Barnes, Kelly, Michael Galper, and Jeffery Gitlin. "Change the Channel Health Insurance Exchanges Expand Choice and Competition." PwC. PwC, July 2011. Web.
33. competition
covered california
•
goal is to increase the number
of Californians with health
insurance
•
customers can shop online, over
the phone and in person choose
the health plan that offers the
best services and greatest
value for their individual needs
•
individuals and small businesses
can discover if they qualify for
federal financial assistance
•
customers have access to
financial assistance 30
30."Covered California." About Us. N.p., n.d. Web. <https://www.coveredca.com/about/index.html>.
34. competition
bloom
•
Bloom works with employers and
health plans to define and control
health benefit spending
•
employers pre-deposit tax defined
contribution dollars on behalf of
each employee into a Bloom
account
•
employees take an health survey
that matches them with plans and
services to meet their needs
•
recommendation engine generates
tailored insurance plan options for
each employee (displayed through
Virtual Shelf, online marketplace) 31
31."Bloom." Our Help Your Benefit. N.p., n.d. Web. <http://www.gobloomhealth.com/>.
35. competition
oscar health
•
Oscar makes it simple to guide
customers through the complex
process of health insurance
•
revolutionizing care delivery, log
into your account, type your
symptoms and a doctor will call
you to chat within 20 minutes
•
if you need to see someone, the
site offers a list of nearby providers
•
allows customers to check prices
for procedures ahead of time and
offers 3 free in person doctors
visits and free generic drugs 32
32."Oscar Insurance." New York Health Insurance. N.p., n.d. Web. <https://www.hioscar.com/>.
36. health Insurance Industry
summary
New legislation and regulations are paving the way for change
within the health insurance industry. Current health insurers are
facing increased competition from new market entrants. In order
to retain their market share, traditional insurance companies will
need to take on health insurance exchanges. Successful insurers
will be able to simplify the insurance buying process and provide
customers with personalized plans.
37. health Insurance Industry
opportunities for the future
•
destination for customers to search health conditions and
compare different types of plans
•
easy definable personalized access to plan pricing
information
•
portal to access insurers and make it easy for customers to
ask questions and get immediate answers
39. overview
statistics
$1,029 is the
average amount
spent on auto
insurance per
year33
Auto premiums
usually go down
substantially
after a driver
turns 2537
16% of drivers
are uninsured at
any given time35
On average a
driver will have
an accident
claim every 17.9
years34
All 50 states
require drivers
to carry
insurance36
33. Copeland, Larry. "The Cost of Owning Your Car? $9,000 a Year." USA Today. Gannett, 16 Apr. 2013. Web.
34. Aho, Karen. "Here's How Many Car Accidents You'll Have." CarInsurance.com. N.p., 17 June 2013. Web
35.- 37 Stauffer, Eric. "Automobile Insurance Facts (Infographic)."ExpertInsuranceReviews.com. N.p., n.d. Web. <http://www.expertinsurancereviews.com/insuranceeducation/car-insurance-facts-infographic/>
40. overview
fundamental changes
customer
•
shift to individual customer data collection instead of
industry wide statistics
technology
•
impact of car technology could completely alter auto insurers
current business models
•
demand for online and mobile tools to give customers the
convenience and access they desire
competition
•
increased competition from new entrants 38
38. Brockman, Marik, and Anand Rao. "The Insurance Industry 2013." Reshaping Auto Insurance. PwC, 2013. Web.
42. trend 1
insurance by manufacturers
•
in-car technology, such as telematics, location awareness and
collision avoidance sensors will shift the risk of driver liability to
manufacturers
•
a new auto insurance, that comes packaged with these
technologically advanced cars
•
coverage would be marketed to customers directly by the auto
manufacturers and/or dealers
•
profound impact on insurers, changing the entire value chain from
product definitions, to pricing, marketing and distribution 39
39. Brockman, Marik, and Anand Rao. "The Insurance Industry 2013." Reshaping Auto Insurance. PwC, 2013. Web.
43. trend 1
pay per mile insurance
•
urban living and the increasing availability of car sharing suggest a
future in which premiums move from 24 hour asset coverage to
pay per use model
•
currently 80% of the US, and 50% of the global population are
considered urban dwellers and car sharing is rapidly growing
•
Forbes reported in 2012 that the global car sharing market is
expected to grow and could exceed 10 billion by 2020
•
result would increase the number of low frequency drivers, which
would reduce individual insurance premiums 40
40. Brockman, Marik, and Anand Rao. "The Insurance Industry 2013." Reshaping Auto Insurance. PwC, 2013. Web.
44. trend 1
then there’s google...
•
success and adoption of driverless vehicles could change the entire
industry
•
Google’s driverless, laser equipped vehicles have logged over
300,000 miles without an accident
•
2012 study by JD Power found that 37% of US drivers were
interested in this new technology
•
driverless cars can reduce traffic accidents, the number of cars on
the road and wasted commute time and energy by 90%, resulting
in savings of 2 trillion per year for the US economy 41
41. Brockman, Marik, and Anand Rao. "The Insurance Industry 2013." Reshaping Auto Insurance. PwC, 2013. Web.
46. trend 2
gps monitoring
•
gps systems in cars are being used to rate individual drivers
on their driving habits, instead of relying on statistics of
accidents reported in the area as a whole
•
systems collect the following:
•
•
•
•
•
average speed driven, occurrence of sudden stops
average times of day driven
number of miles driven per day
location of parked vehicle
systems benefit less risky drivers, who can now receive lower
premiums and more discounts thanks to this technology 42
42."Auto Insurance Chnages in 2013." VehicleInsure.com. N.p., n.d. Web. <http://vehicleinsure.com/auto-insurance-changes-in-2013/>
48. competition
leaky
Leaky helps you compare car car
insurance the easy way for free.
•
compare prices, plans and
potential scenarios to take the
mystery out of your insurance
•
manage all your insurance
information in one easy spot
•
provide alerts when customers
can save money so you get the
best deal possible on
insurance 43
43. "Compare Car Insurance the Easy Way." Leaky. Leaky, n.d. Web. <http://leaky.com/>.
49. competition
metromile
MetroMile is per mile car insurance
designed for people who drive less than
10,000 miles a year.
•
calculates insurance costs each month
based upon actual miles you drive
•
customers pay a few cents per mile
and a low monthly base rate, that’s
significantly less than standard
insurance
•
rewards customers for driving less, so
when your car is parked or when you
decide to take the bus or ride your
bike you save money
•
charges are capped at 150 miles per
day, regardless of how far you drive 44
44."MetroMile - Because You Drive Less." MetroMile. MetroMile, n.d. Web. <https://www.metromile.com/>.
50. competition
drivefactor
Drivefactor is the trusted worldwide source
for driving data and analytics
•
use a sensor telematic platform to
gather better driving data for
superior scoring and customer
rewards
•
smart ways for customers to monitor
and improve personal driving
behaviors through a plug and drive
device
•
insurers can utilize drivefactor’s
technology to roll out usage based
insurance programs and gain a key
competitive advantage in the
marketplace 45
45. "The Trusted Worldwidesource for Driving Data and Analytics." Drivefactor.com. Drivefactor, n.d. Web. <http://www.drivefactor.com/>.
51. auto Insurance Industry
summary
Changing technology is dramatically impacting auto
insurance companies. Advances like GPS monitoring, in
car telematics are paving the way for a new insurance
model known as usage based. Successful auto insurers
will need to recognize these changes and act quickly
before they are displaced by new entrants.
52. auto Insurance Industry
opportunities for the future
•
develop apps for auto insurers that monitor
individual driving behaviors
•
create apps and online comparison tools for auto
insurers to provide customers with access to pricing
and plan information
•
develop interactive quizzes or games that allow
customers to estimate individual insurance needs
based on personalized scenarios
53. propane studio is a full-service
digital agency focused on
developing experiences and
solutions that fuel the way people
connect with brands and each other.
propane studio | 1160 battery street, suite 350 san francisco, ca 94111 | 415.550.8692 | www.propanestudio.com