Alan Walker

Transformation and improvement are not the same, and insurers should use different approaches to the two types of innovation.

It’s an interesting time for insurers, with changes forced by COVID-19 set against a background of opportunities for digital transformation.

Taking a few key steps will enable an insurer to resolve its operational challenges and lay the foundations for future success.

If insurers innovate aggressively, they have a once-in-a-lifetime opportunity to educate potential buyers on the value of insurance.

Here are key questions that senior executives should be considering on the longer-term business model implications of COVID-19.

The 10 steps to going digital aren't rocket science, yet few insurers, globally, have implemented a truly sustainable digital transformation.

The employee benefits provider of the future will have to adapt to fragmented career paths and may stop seeing employers as the client.

The Risk Manager of the Future will provide a holistic service to clients -- and only a smart part will involve insurance.

If you only deal with your broker via email and text, how do you know you aren't dealing with an artificial intelligence? You will be.

Employees at the Insurer of the Future will need terrific support: expert systems, world-class knowledge management and collaboration tools.

AI, robotics and other automated systems will transform back-office functions for the Insurer of the Future and empty them of people.

At the Insurer of the Future, products will be very different. But how will they be developed? Certainly not the same way as now.

The customer will buy a total risk management solution that flexes to her needs month by month, day by day, hour by hour.

CRM was always a challenge in the past because insurers had only small numbers of interactions with their end customers.

For new entrants, blockchain will be at the core of their business model and operating model. For incumbents, it will be a "bolt-on."

As the abilities of cognitive/AI systems surpass those of humans, claims personnel will no longer be required by the Insurer of the Future.

If I were a young actuary or underwriter, I’d be worried – because the Insurer of the Future won’t have much need for my skills.

The Insurer of the Future will do little auto business. Insurers that remain focused on this segment will shrink drastically or fail.