The Digital Insurer Library update

Published: Sun, 02/09/20

The Digital Insurer Library Update

Pádraig Floyd

Digital Insurer Library Editor

padraig.floyd@the-digital-insurer.com

This month’s Digital Insurance Library features the growing use cases for facilitating and delivering digital transformation.

Businesses face increasing cybersecurity threats and breaches, but there is growing realisation that security must be part of a broader cyber risk program and not treated in isolation, according to this report from Cisco.

This Capgemini report looks at the crucial role of AI to the development of more efficient cyber security projects.

Meanwhile, as the digital market becomes the main driver of the Chinese economy, so demand for cyber coverage increases. This is presenting a new avenue of opportunity to provide risk protection and solutions for intangible assets such as intellectual property, networks data and information, according to Swiss Re.

The paper this month from McKinsey focuses on how insurers have been slow to leverage the benefits of digital technologies and increase their overall productivity. This paper identifies a number of levers management must use to generate a sustainable edge, However, insurers need to stop pulling one at a time and prepare to pull all of them at once.

It is generally accepted that customers must become the central focus of a digital business. Those who’ve failed to make progress because they fear the expense of satisfying customers' every needs must understand that it will deliver far more through new opportunities, says this paper from Bain & Co.

A paper from Wavestone looks at the other side of the technology that will unlock new business models through big data and advanced analytics. But what will companies do with all that data and what risks come with the responsibilities of holding it?

Much emphasis has been placed on the source of data being customers themselves who will be prepared to offer up data from wearable tech. This paper from BMC Public Health shows the willingness to adopt wearable technology is in fact greater – if only slightly – than had been assumed. Insurers must adapt their business models, but the paper indicates there is strong evidence for implementing such a strategy.

The last piece is from SAS and it is a handy A to Z guide on the internet of things. It provides a useful resource for groups who may have limited, or differing, levels of exposure to IoT.

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Featured Report

BMC: Willingness to adopt wearable devices with behavioural and economic incentives by health insurance wellness programs

The survey from BMC Public Health looks at the willingness among American consumers to adopt tech that will encourage them to adjust their behaviour.

Read survey here

SAS: A Non-Geek’s A-to-Z Guide to the Internet of Things

McKinsey: The productivity imperative in insurance

Bain & Company: Have it both ways- Happy customers and lower costs

Swiss Re: Digital transformation in China- on the crest of a wave

CISCO: The evolution of industrial cybersecurity and cyber risk

FMA: Strategic risk outlook 2019

Capgemini: Reinventing cybersecurity with artificial intelligence

Wavestone: Artificial intelligence- An increasingly complex operational challenge

Latest updates from across TDI

1. Digital marketing to transform customer experience and distribution economics - Click below to watch full webinar recording now

2. China in Focus: Healthcare funding ecosystems

This month’s China in Focus sponsored by Swiss Re looks at the development of healthcare funding ecosystems in China’s digital insurance market, with in-depth analysis and focus on the key InsurTechs in the market.

3. ANZIIF InsurTech Conference 2020 - TDI speakers

Join TDI's Hugh Terry and Simon Phipps on 19–20 February 2020 at Australasia’s largest InsurTech Conference. ANZIIF’s InsurTech Conference is designed to connect you with the industry, inspire new thinking and encourage innovation. Learn more and register at the link below.

4. The world's largest InsurTech event and awards are coming to Singapore...

Join us at InsurTech Connect in Singapore on 2-4 June for the most senior and diverse gathering of insurance industry executives, investors, and startups from across the Asia Pacific region. The event also features InsurTech and Insurer Innovation Awards in partnership with TDI, follow the link below to learn more and enter now.

More details and enter the Awards here

5. Read the latest Newswire updates

Keep up to date with all the latest global digital insurance news via our Newswire. Check out all this week's articles below, and follow us on Twitter @DigitalInsurer for daily updates.

View This Week's News

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