The latest technology trends and how they impact the insurance industry
The insurance industry is in the midst of a brutal stress test, due to the current environment. The loss of customers who become unemployed, already an issue, is likely to worsen. Some insurance products may become uneconomical. And many insurers will come under pressure to reduce their spending. Given this fast-changing business environment, insurers need […]
An explosion of technology innovation over the last several years has created digital-savvy consumers and digital-empowered employees. For the insurance sector, this has brought forth both new market opportunities and new market confusion. The insurance sector has leveraged digital for new ways of working, and that has proven to be especially valuable in light of […]
The digital landscape is now so all-encompassing that most consumers expect a digital experience in everything they do. That’s certainly true when it comes to insurance, as evidenced by the findings of our recent consumer survey. Based on responses from more than 2,000 individuals in the United States, the 2020 DXC Insurance Survey Report presents […]
At the start of the year, DXC Technology issued its 2020 predictions for the future of work, which show renewed focus on technology to drive growth while ensuring the right environment for the teams and leaders to take companies into the future. These trends resonate strongly across the insurance industry, which has undergone significant change […]
The lone inventor hunched over a bench, toiling over a thousand failed experiments before achieving success (Eureka!), is the notional image of innovation we’ve carried for generations. But innovation rarely happens in isolation, especially in the insurance industry. Digitalization makes it possible for insurers to serve customers in many new ways, stretching the demand curve […]
For years, women have been under-represented in science, technology, engineering and mathematics (STEM) courses and occupations. Although more women are starting to work in STEM fields, the gender gap remains high. Only about a quarter of STEM workers are women, and female representation on boards is lower than in other industries. Some businesses and industries […]
The use of artificial intelligence (AI) technologies has spread across the insurance value chain. In product development, it enables insurers to create more profitable and effective products based on insights from past claims and product uptake in the market. In underwriting, it creates a better understanding of risk for new and underserved markets. It’s improving […]
A high wind just brought a tree down on a customer’s house. Meanwhile, another customer watches helplessly as his basement fills with water. For both of these insureds, the world has just spun out of control. And now, in the midst of this upheaval, each of them must also file an insurance claim. For many […]
The digital era is enabling new opportunities as well as challenges for underwriters. Today, there’s a requirement for massive quantities of information from different sources to evaluate risks, leaving underwriters with a significant amount of data to sift through so they can effectively rate the risks for a new customer and determine the coverages that […]
Most insurers are aligned around a common vision of the future, so strategy is about charting the course from here to there. Whether the focus is new business, claims, or filling the white space in between, the journey starts with an outside-in view of the personas being targeted (e.g., customer, agent, adjuster); the capabilities and […]
