Blog Archives - Page 5 of 10 - Silicon Valley Insurance Accelerator

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.

Digital Insurance & Speed to Market – It’s Time to Get Your Game On

07/20/2020 Mike Connor, CEO, SVIA Blog, Digital Ecosystems, Future of Insurance, InsurTech

Covid-19 is rapidly changing our world. It’s accelerated the digital transformation of our society, businesses, and personal lives by at least 5 years. The digital leaders in insurance are responding by accelerating their own digital transformation and initiatives. What that means to fast followers and laggards is that if you expect to survive the 2 – 3 years, It’s time to get your digital game on.

Why The Customer-Centric Agency is the Future

06/11/2020 Matt Chesky, President, Insuritas Blog, Customer Engagement, Future of Insurance

The agency model has unique, structural advantages over direct writers and lead-gen platforms in insurance distribution in that it is best aligned with consumer desire for objective, transparent, and trusted advice for their risk management needs. A customer-centric agency that can deliver efficient customer acquisition, a frictionless shopping experience, and trusted, ongoing advisory services can create immense value for today’s insurance consumer, and is the only way to re-establish the independent agency as the risk management model of the future.

COVID’s Digital Mandate: Insurers Double Down on Transformation & Innovation

05/31/2020 Mike Connor, CEO, SVIA Blog, Digital Ecosystems, InsurTech

Over the past months, I’ve been in conversations with multiple carriers, tech vendors, and InsurTechs. In the early days of COVID, it was all hands on deck to protect employees and to care for customers during the quarantine. While there is still work to do in those areas the conversation has shifted dramatically in the past month. The conversation now is how to accelerate digital transformation in preparation for the new normal.

The COVID-19 Imperative: Risk Management, Business Continuity Planning, & Innovation

05/18/2020 Michael Lovegrove, CEO, JRNY Blog, Future of Insurance

Digital innovation is no longer just a nice to have; it’s a must-have. It’s no longer just about reducing costs or improving margins; COVID-19 has shown that it’s now an imperative addition to risk management processes and business continuity planning (BCP) as well.

What’s Next for P&C Customer Engagement?

04/13/2020 Mike Connor, CEO, SVIA Blog, Customer Engagement, Digital Ecosystems

P&C customer engagement is changing. That change driven by InsurTechs and Big Tech firms engages customers personally through the use of big data, AI & ML, awesome UX design and back end systems purpose-built to support this kind of engagement. That’s just the first wave. What’s coming next as these companies tap deeper into the digital ecosystems surrounding insureds will change the competitive ground rules again.

COVID-19 & Insurance: Impact, Response & Innovation

03/23/2020 Mike Connor, CEO, SVIA Blog, Customer Engagement, Future of Insurance, Uncategorized

COVID-19 requires our industry to move immediately to meet insured’s needs and protect our companies and employees. Then we need to take a breath and think. Necessity is the mother of Innovation, and now is the time to put our capability as an industry to innovate to work. Here’s how.

Next-Gen On-Demand Insurance Solutions – High Impact Change Agents – Act Now

03/16/2020 Mike Connor, CEO, SVIA Blog, Disruptive Business Models

On-Demand Insurance Solutions are creating a Buzz in the industry. Introduced by InsurTechs, they are now being adopted by major carriers. Though only 1% of the market today, their influence will reshape the future of the insurance. If you haven’t taken the time to deeply understand the impact they will have and begin to work with them, you need to. Here’s why.

Insurance Core Systems: Requirements for a Digitally Connected World

02/18/2020 Mike Connor, CEO, SVIA Blog, Digital Ecosystems

Last week thought leaders from across Insurance gathered in Palo Alto, CA at our Digital Ecosystems & Insurance: Strategies for Innovators conference. The discussion centered around how digital leaders are leveraging digital ecosystems to accelerate their competitive advantage. Included in that was the impact on core systems.

Know How To Protect Your Insurance Career In An AI Era? Ignore This
Building Your Career in the AI Era of Insurance Requires A New Strategy It’s easy to get overwhelmed with all of the hype about AI and tune it out. What’s true is that none of us really know all the ways AI will impact our lives and careers and, for that matter, what to do
Gen AI is Here. What’s Next For Insurance Careers?
Welcome to The Great AI Transformation AI is not just a technological advancement; it’s a transformative force reshaping how value is defined, created, and delivered in the insurance industry. This transformation extends beyond technology, redefining the insights and skills insurance professionals need to stay relevant and competitive. Whether you work in sales, marketing, underwriting, claims,
Building a Career Edge In the AI Insurance Era: Demystifying The AI Genie
Artificial Intelligence (AI) is rapidly transforming industries worldwide, and the insurance sector is no exception. To stay competitive and advance your career, it’s crucial to develop a deeper understanding of AI and its impact on our industry.
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?