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Displaying "Transformation" articles (55)

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10 Insurance Technology Trends Reshaping the Industry

A number of high-impact business trends are shaping and reshaping the insurance industry as we speak. Capgemini’s Executive Vice President, Seth Rachlin, Ph.D., shares his thoughts on why companies need to “prepare for the world as it is today, and not as it used to be.”

Meet New Regulatory Changes Faster & Easier

The UK’s Financial Conduct Authority (FCA) aims to tackle ‘Price walking’ through the implementation of new rules that protect consumers from loyalty penalties related to various insurance products. These updates are likely to change the insurance industry as firms will now have to offer renewal prices that are no higher than the prices offered to new customers.

The Surprisingly High Cost of Delaying Tech Adoption

Traditional pricing and rating systems tend to be individual, siloed applications that require too much time and manual effort to make them work - causing significant pricing delays and missed opportunities. In this eBook, we will delve into why insurers have not focused on new technology and describe the nine capabilities every insurer should demand as they evaluate new rating and pricing technology.
ITC 2021: On stage with Earnix CEO, Udi Ziv

ITC 2021: On stage with Earnix CEO, Udi Ziv

Today, carriers are under increasing pressure to fully personalize their products and dynamically deliver them to their customers. Fueled by consumer demand, Usage-Based Insurance is one of many trends in personalization poised to make the leap from niche to mainstream. But historically, insurers have struggled to find success creating bespoke offerings profitably and at scale.
How to Drive Business Growth with Usage-Based Insurance

How to Drive Business Growth with Usage-Based Insurance

As a “legacy” industry, insurance companies are not known for being early adopters of new technology. That being said, the speed at which consumers are adopting UBI makes it clear that this is where the insurance industry is headed. Luckily, adding UBI policies to your portfolio of products does not need to be a scary endeavor. In this eBook, we take a closer look at some of the real-world UBI challenges, but more importantly, best practices to help any insurer get started—and capitalize—on UBI today.

Pricing at Speed. Months to Minutes.

Creating a new banking product is an inherently time-heavy process. But some companies can, and do, get this done faster than others.

Gore Mutual Partners with Earnix to Improve Pricing and Rating Processes

Here’s how Gore Mutual used Earnix to improve its modeling, rating deployment and pricing processes — all from a single, end-to-end platform.

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Common Errors in the Pricing Process

While insurance companies and their embedded pricing teams had the best of intentions, more often than not, they wound up with a pricing environment made up of too many tools, too much manual effort, and too much that could go wrong. Here's a closer look at the many challenges caused by a fragmented approach to pricing and rating, and the over-reliance on too many disparate solutions.