Karen Pauli

The big question for insurers is – which of the six AI technologies drive the most value for commercial lines?

Don't just work from the 2020 budget: Claims transformation and claims operations have a new performance baseline because of COVID-19.

There have been four notable launches or expansions just in the past month for parametric insurance--innovation is speeding up.

Given that vehicle usage is a fundamental rating factor, telematics might be heading toward a new and shining position within the industry.

Start looking ahead, through the windshield. Product development in insurance has relied on a historical view, but that needs to change.

Given the enormity of the changes in motion related to customer and agent expectations, technology skills alone will not suffice.

In a word, no. Interest and application in personal lines are still strong because of UI and AI. But some scenarios are good news/bad news.

Because the strategic value of technologies to insurers is maturing, there is a shift in how research looks at transformational technology.

In five years, the premier insurance technology providers will be Aon, Marsh, Munich Re, Swiss Re and Allianz.

Many claims folks have been stuck because of regulatory constraints, inflexible legacy systems and a perpetual cycle of reduced budgets. Until now.

It is a challenge to create the five-question, two-minute online experience that many are striving for in other lines. Customers feel no sympathy.

The message is not to lock the door and send everyone home, but the competitors of yesterday may not be the competitors of tomorrow.

Data prefill has reached commercial lines: Businesses need a simpler application, and distributors need to be freed from clerical tasks.

The “yeah buts” are waning across commercial lines as executives find emerging technologies that can improve business outcomes.

Staffing up is expensive, and claims organizations are already experiencing a shortage of individuals to fill critical roles.

A long and detailed research initiative earlier this year found disruption very hard to pull off -- but saw that Munich Re was succeeding.

If a portal allows a customer to pay via credit card but then defaults to paper-based processes, there is a serious disconnect.

The answer is now clear: It's important to be insurtech. Many startups are generating real value.

Life and annuity insurers have long been thought of as significantly behind P&C insurers in terms of technology. No longer.

The independent distribution channel is wrangling its own destiny in a new direction using data, business intelligence and analytics.

Life and annuity insurers aren't finding a bowl of cherries these days, and only 19% say they're doing the hard analytical work to improve.

Insurers must change direction and move from the data-and-analytics-investment “comfortable zone” and over into innovation.

Telematics technology can, among many other things, generate the first notice of loss from the actual impact dynamics.

Some insurers see fraud as just a cost of doing business, but that attitude can't continue in an era of razor-thin margins -- and there are answers.

Insurers should focus more on the rapidly changing world of products and services, because of emerging technologies.

Digital MGAs are appearing, but stalwart MGAs have an amazing opportunity to reinvent themselves once again in the digital world.

The analytics firms being acquired by core solution providers have deep expertise that many insurers have never been able to access.

Fortunately, for insurance executives, there is an antidote (seven, in fact) for the anxiety that comes with trying to transform.

Depending on which path a distributor chooses, it can either be a Happy New Year – or it can be a very un-Happy Year.

Traditional distributors must be able to execute as efficiently as the newly minted distributors emanating from the insurtech world.

Departments fight over who owns the customer experience -- or who doesn't. This has to stop. Some individual needs to take ownership.