Monthly Update from The Digital Insurer - May 2015

Published: Tue, 05/05/15

May 2015
The Monthly Update from The Digital Insurer includes 9 new articles on digital insurance that we have reviewed and released to the Library, including links to the source articles. The Digital Insurer is a forum for professionals interested in the impact of digital trends on insurance business models. We believe we have the world’s biggest library of reviewed reports on Digital insurance.
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Featured Article

Digital Adoption in the Insurance Sector - The Economist Intelligence Unit

In the report “Digital Adoption in the Insurance Sector”, the Economist Intelligence Unit looks at the ways in which digital adoption is shaping the insurance sector by forging new business models, new commercial partnerships and different consumer relationships, and by providing new potential revenue streams.

Customer loyalty in P&C insurance - Bain and Company

Modern Customer Care in a Mult-Channel World - Oracle

How to Compete in the New Digital Economy - CSC

Advice Made Social - Cognizant White Paper
 
Leveraging Social Media across the insurance Lifecycle - Capgemini
 
Innovation in the Insurance Customer Experience - SMA
 
How can Big Data help an Insurance Company? - PWC
 
New whistleblower on insurance frauds - An Infosys Research Brief
This month's highlights from The Digital Insurer

1. If you've been following us closely, you will know that we have recently launched a new Digital Marketing in Insurance section on our website where we will releasing content on key topics relating to Digital Marketing throughout the year.  Our inaugural Topic Intro article on Effective Web Design is now ready for you to read.

"Your website is your digital home, your office, your online premises where people come to browse, explore and – ultimately, shop or go some way to making a purchasing decision. And this important concept is no different for insurers.

And yet, readily available data clearly backs this up. The recent chart below from digital agency, We are Social, shows that corporate websites are the most visited website category with a massive 98% of consumers in Asia Pacific searching online for these"

Next month, we will be releasing the Masterclass on Effective Web Design which will feature a case study on User Experience and Mobile-friendly design.
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2. This month's guest article comes from Ruth Gilbert and is a highly topical discussion on whether Google has crossed the line by entering the insurance market.  We received a lot of debate in our LinkedIn Group where we wrote about the Google launch in the US earlier this year and so we thought we'd continue on the theme of Google given that it's clearly a subject that our readers have a lot of opinions on!
 
"The question is, by doing so, has Google crossed the line and is it exploiting its dominance by 1) taking market share in an unrelated field and 2) manipulating search results to do so? Or is it merely entering a new market where it sees the potential for disruption is ripe and creating healthy competition?" 
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3. Last month we announced our partnership with our latest sponsor, eBaoTech. Together with eBaoTech, we will be exploring how technology companies are responding to the demand of agile deployment of new products with a much higher standard of user experience. Watch this space for content and case studies coming soon on this.

4. We recently released our final survey with PGi on how insurers use collaboration tools on a day-to-day base.  We would really appreciate your views and our 3 question survey below won't take a minute to complete 

5. Finally, we'd like to share with you an article within our Underwriting & Fuilfilment Report, produced with Swiss Re on Predictive Underwriting: In Theory and In Practice.

The article gives an introduction to the topic of predictive underwriting - what it means, where it can be used and some tips on implementation. It then goes on to give 5 guidelines for developing successful predictive analytics and models.

 
1. Start with the end in Mind
2. Be realistic about limitations
3. Imperfect data is no excuse
4. Data cannot do everything
5. Big data - lots of talk, little action
Read the full article
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