Blog Archives - Page 6 of 10 - Silicon Valley Insurance Accelerator

The Hockey Stick Impact of Digital Ecosystems on Insurance Innovation

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

True innovation in insurance, other than a few examples such as Online comparators, UBI, and Life insurance coupled with wellness, has have been slow in coming. Digital Ecosystems are about to add a hockey stick to that curve and here’s how.

Health ecosystems: striving towards an integrated and seamless patient experience

01/28/2020 Corinne Fitzgerald, Researcher, Evangelos Avramakis, Head Digital Ecosystems R&D, Jonathan Anchen, Head SRI Research & Data Support, Aakash Kiran Raverkar, Research Analyst, of Swiss Re Institute Blog, Customer Engagement, Digital Ecosystems, InsurTech

We have seen a shift in focus from treatment to prevention. It has come to be understood that it is much cheaper to prevent a condition from developing than to treat it. Here are some considerations for insurers integrating digital ecosystems and prevention into their next generaton solutions and strategies.

HealthCare: The Revolution is Finally Here

01/16/2020 Jason Andrew, Co-Founder, Limelight Health Blog, Digital Ecosystems

We are finally beginning to experience a long-awaited revolution in the insurance industry. Historically, insurance has been one of the last and slowest industries to embrace technology as a means of modernization and process innovation. The insurance industry is fragmented, without common standards, and until very recently did not attract many investment dollars, which exacerbated the general lack of incentive to modernize. However, in the past few years, we have seen signs of revitalization in the industry, and it is becoming an exciting time to be a part of the insurance community.

3 Parts to Framing a Digital Ecosystem Strategy for the Insurance C-Suite

01/13/2020 Mike Connor, CEO, SVIA Blog, Digital Ecosystems

If you’re responsible for strategy, innovation or digital transformation you are likely getting an increasing number of questions from C-Suite Executives about Digital Ecosystems. For most insurance companies, the concept of digital ecosystems remains vague. Its something between a buzzword and examples like Google, Apple, and occasionally Ping An, the Chinese insurance giant. These examples provide little in terms of actionable insight that enable executives to redefine priorities or reallocate resources. A simple explanation of what digital ecosystems are and breaking your strategy into 3 parts will.

The Future of Insurance Distribution – Digital Ecosystems

01/03/2020 Mike Connor, CEO SVIA Blog, Digital Ecosystems, Future of Insurance, Uncategorized

The way insurance is purchased will change dramatically in the very near future. Insurers, Brokers, and Agents need a strategy if they intend to survive. Digital Ecosystems are growing and maturing to support every part of our personal and business lives and activities. They provide a marketplace of services and products that are increasingly connected to us and the world around us. Services and products that leverage data, and machine learning to provide highly personalized offerings. It is within these digital ecosystems that the future of insurance is being forged. A future that will change everything we know about insurance distribution.

Designing Insurance Business Models to Thrive in A Digital Future

12/28/2019 Mike Connor, CEO, SVIA Blog, Digital Ecosystems

“The future is here, just not evenly distributed”. This famous quote by William Gibson is a word to the wise. It couldn’t be truer when it comes to Digital Ecosystems & Insurance. They are reshaping customer engagement, business models, and operations. In fact, they are reshaping entire industries including insurance. While skeptics downplay them, here are the questions the wise are asking to help them develop digital ecosystem strategies and business models to create powerful competitive advantages.

Platforms Allow Insurers to Engage with Valuable Ecosystems

12/19/2019 Denise Garth, SVP, Strategic Marketing, Industry Relations & Innovation, Majesco Blog, Customer Engagement, Digital Ecosystems

Platforms are a force multiplier of internal and external strengths
Those who have known me for years, know that I was an introvert growing up until I was a junior in high school running for class president. Yes, that surprises people! I had lots of friends across different groups (we can call them different ecosystems), but I was a relatively introspective person. Becoming class president was a catalyst in my becoming an extrovert – which my colleagues and friends recognize me as today. Why do I bring that up? Because over my career I leverage my introvert strengths, my analytical side and my extrovert strengths, my network of colleagues, peers, and others to bring both perspectives to ideas, topics and challenges.

Both personalities play a role in how individuals work within the realm of technology and today’s fast-paced changing world.

The $375 Billion Planning Guide for Digital Insurance Leaders

12/13/2019 Mike Connor, CEO, SVIA Blog, Digital Ecosystems

According to a recent Accenture report, digital leaders in insurance will gain $375 Billion in market share and new business opportunities by 2022. Here’s a guide for digital leaders looking to get their share of the pot of gold left behind by digital laggards.

Digital Ecosystems & Insurance: Strategies for Innovators

11/01/2019 Mike Connor, CEO, SVIA Blog, Digital Ecosystems

What do Apple, Alibaba, Amazon, Bank of China, JP Morgan, Facebook, Google, Intuit, PayPal, EBay, Docusign, Slack, General Motors, and Zhong An have in common? Digital ecosystems that connect them to millions of customers. According to McKinsey, $60 Trillion in revenue will flow through Digital Ecosystems like these by 2025. That includes Insurance.

Digital Insurance Ecosystems: Rise of Exponential Business Models

10/11/2019 Mike Connor, CEO, SVIA Blog, Digital Ecosystems, InsurTech

Digital Ecosystems are maturing at a rapid rate across multiple industries. The impact they will have on insurance and its business models is profound. While insurance is behind, there are some early examples from China’s Digital Insurance Leaders ZongAn and PingAn. Their ecosystems provide customers with interoperable and blended solutions that include insurance, banking, and other services. Solutions with a very different business, product, distribution, and customer engagement models. Models that exponentially increase the options and the reach of those who deploy them and that will forever change insurance.

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?