Blog Archives - Page 4 of 9 - Silicon Valley Insurance Accelerator

Ukraine Families Need Your Help Now

03/01/2022 Michael Connor, CEO, SVIA Blog, Uncategorized

The Terror Vladamir Putin has unleashed is literally tearing families and people in Ukraine apart. Please donate now.
Women, their children, and the elderly are heading west away from the fighting. In many cases, they are on foot. The temperature is just under 40 degrees.

Insurance 2.0: A Survivors Guide

03/02/2021 Mike Connor, CEO, SVIA Blog, Future of Insurance, Uncategorized

Digital adoption had been accelerating across every aspect of our lives. Then COVID kicked that into hyperdrive. Couple that with macro trends like climate change, shifts in consumer lifestyles, values, and demographics, and you have the makings of a perfect unpredictable storm of change. To survive this digitally supercharged storm over the next 3 years requires becoming a 2.0 Insurance company.

Why Its Time to Prepare Now for the Data & Analytics-Driven Future of Insurance

11/02/2020 Mike Connor, CEO SVIA Blog, Future of Insurance

Insurance has always been data-driven. It’s also one of the industries leading the race to adopt AI. And, AI in all its different forms is coming fast. It will impact every part of the insurance industry’s value chains. How we reach customers, engage with them, assess and price risk, manage policies, handle claims and fraud will all be impacted. Beyond that, it will also impact how we measure and manage internal operations as well as distribution channel partners, and how we define and manage products. To stay competitive in this race, Insurers need to rethink and realign current data, analytics, and AI initiatives with the future that’s coming.

The 2021 Insurer Mandate: Accelerating Digital Transformation 2.0

10/19/2020 Mike Connor, CEO, SVIA Blog, Future of Insurance

Adoption of Digital Transformation 2.0 has been building momentum over the past couple of years. Holistic, integrated, customer, data, and analytic driven it’s a game-changer. COVID put afterburners on its adoption. If insurers expect to compete in a market thrown 5 years into the digital future by COVID, they need to realign their digital transformation with a 2.0 approach immediately.

Platform Systems: Foundation for Agility, Speed, and Innovation

09/26/2020 Denise Garth, Chief Strategy Officer, Majesco Blog, Digital Ecosystems, InsurTech

Innovation & Agility = Insurer Survival. COVID rocked our world. Normal family, community, and business practices turned upside down. Insurance operations that relied on paper and in-person interactions obsolete. Surviving requires innovation and agility. Without an enabling platform, it’s impossible. That’s why every insurer needs to build an innovation scorecard.

What Does It Take To Be Transformative?

09/13/2020 Greg Murphy, is EVP for INSTANDA North America Blog

Over the past few years, businesses across all industries have been busy implementing digital strategies and fundamentally changing how they operate and deliver value to customers. As a sector, however, insurance has been slow to embrace digital transformation. Part of the problem is the interpretation of what ‘digital transformation’ really means.

Blend Culture Change and New Tech for Success with Digital Transformation

09/09/2020 Phil Reynolds, CEO & Co-Founder, Jeff Haner, Director of Market Research & Strategy, BriteCore Blog

Digital transformation is not about technology. Yet, isn’t that where we tend to focus? It is too easy for us as insurance business and IT leaders to fixate on technology problems and solutions and overlook the most critical (and more difficult) changes that must take place if we are to transform our organizations…changes in attitudes, beliefs, and day-to-day behaviors that are critical for true transformation and success with digital business.

Life Insurers Can Provide Better Insurance To Next Gen Customers

09/07/2020 Shira Warshavski, VP Marketing, Atidot Blog

Life insurance margins continue to be squeezed due to the plunging interest rates, as well as the precipitous drop in the stock market and global economic crises. The much-awaited rise in interest rates has not materialized, and recent events such as COVID 19 and high unemployment rates make it clear that they will continue to plunge. As a result, it is crucial for life insurance providers to find new ways to maximize revenue opportunities. Those opportunities abound.

Automating Commercial Lines Submission Intake and Underwriting with AI

09/06/2020 Ron Glozman, CEO and Founder, Chisel AI Blog, Commercial Insurance

According to Accenture, on average only 25% of an underwriter’s day is spent on selling and broker engagement, while more than 50% is spent on core processing and repetitive tasks like data entry. Imagine if underwriters could spend more time with brokers and customers, and focus on delivering a better customer experience instead of being bogged down by cumbersome, error-prone manual processes? What if you could drive more revenue by increasing your underwriting capacity by 50% – without adding staff?

Embedded Insurance: Simple, Transparent, Game-Changing

08/11/2020 Mike Connor, CEO, SVIA Blog, Disruptive Business Models

Nobody wants to buy insurance. It is hard to understand, related to a future risk that is hard to imagine, and relative to that risk seems arbitrarily expensive. Topping that off is an often frustrating, burdensome, heavily paper and people-intensive process. Overcoming that would be game-changing. Meet the Embedded Insurance Innovators.

Assessing Leadership Proficiency in an AI-Driven Insurance Era
The rapid adoption and increasing capabilities of Artificial Intelligence (AI) require new competencies in leaders throughout their organization. Do your leaders have them? Keep reading to find out.
Benchmarking Insurance Leaders’ AI Readiness
Artificial intelligence (AI) is rapidly reshaping insurance. The role of decision-makers is more crucial than ever. Beyond merely adopting AI as a technology, leaders must prepare their organizations for the next wave AI innovations. Innovations that will redefine the industry. How ready are your leaders?
Preparing Now for AI’s Next Evolution: A C-Suite Imperative For Health Insurers
While health insurers are prioritizing enhancing customer experiences, modernizing legacy systems, and organizing data, a vital strategic focus is often overlooked: preparing their organizations for the next even more powerful waves of AI Innovation.
The AI Shift: Evaluating The Real Competitive Landscape
Understanding the competitive landscape in the AI era is critical for insurance executives. It’s important to see beyond traditional competitors. It’s about strategically understanding how AI will disrupt the industry and identifying how digital leaders and new entrants will leverage the technology. More importantly, it’s about understanding how to give your company a strategic edge
Life Insurance, Global Mega Trends, And AI Strategy: Next Steps For Execs
Global megatrends are not just reshaping the world at large; they’re fundamentally altering the insurance landscape. It’s a transformation driven by emerging technologies, climate, changing demographics, evolving consumer expectations, and a new focus on sustainability. As AI becomes increasingly central to this reshaped world, life insurance leaders face an urgent task. Strategically integrating AI to