Blockchain technology will be a source of both disruption and opportunity for insurers, according to a new report from Boston-based research and advisory firm Novarica. In its latest executive brief, released on Monday, Novarica predicted that the technology would have…
More than half of P&C insurers surveyed by insurance strategic advisory firm Strategy Meets Action (SMA) are at least aware of the implications and potential of blockchain in the industry, a new report from the company has found. In particular,…
Five insurers and reinsurers – Aegon, Allianz, Munich Re, Swiss Re and Zurich – have launched the blockchain insurance industry initiative B3i, aimed at exploring the potential of distributed ledger technologies to better serve clients through faster, more convenient and…
Lower costs and higher efficiencies can be realized through adoption of smart contracts, with potential annual savings in the personal motor insurance industry alone amounting to US$21 billion globally thanks to automation and reduced processing overheads in claims handling, Capgemini…
Insurers need to understand potential disruptions to risk analysis and cost basis as well as distribution to effectively manage their strategies, suggested a new report from Boston-based research and advisory firm Novarica. The pace of technological change makes it a…
Technological developments will profoundly change the way in which the re/insurance industry develops, distributes, underwrites and administers the insurance protection it sells to consumers, Swiss Re said on Monday. New technologies such as cognitive and cloud computing as well as…
Chief information officers (CIOs) and other executives in financial services must be able to identify the imminent threats and opportunities that will be affecting their operating model, human capital approach, ability to innovate and ability to execute, notes a new…
Half of CEOs worldwide expect their industries to be “substantially or unrecognizable transformed” by digital change, according to a survey released on Wednesday by Stamford, Conn.-based information technology research and advisory company Gartner Inc. The 2016 CEO Survey: The Year…