Because we’re incorrigibly curious — and because it’s part of our professional responsibility to stay abreast of things in the industry we serve — we recently conducted an experiment on Google. We entered the phrase, coronavirus insurance industry, and searched. The search returned 496,000,000 results. The sheer number surprised us. But what surprised us more […]
We know it’s bad form to quote ourselves. But we have to make an exception here. We recently watched a panel discussion about the ways in which insurers responded to the effects of the coronavirus and its ensuing shut-down. One comment, from Sean Ringsted of Chubb, jumped out at us: I draw a distinction between, […]
efficacy:noun — capacity for producing a desired result or effect We don’t seem to hear as much about digital transformation or digitalization as we used to. There are two pretty compelling reasons for that: We’re not hearing as much about those things anymore because we’re actually doing them. The coronavirus gave as a very good […]
Imagine you have some new friends coming over for dinner. You really want to make a good impression, but your house has a few things that need to be fixed. While not many friendships are lost over broken screen doors, shabby paint, or a picture that needs to be hung, it would better if things […]
We love inevitability. And we love portals. For instance, it’s often said that insurance is sold, not bought. That means many consumers don’t think of insurance as a necessity and tend to purchase it only when it’s sold to them. (Hence, the classic scene from Woody Allen’s Take the Money and Run in which Woody’s […]
We recently came across an article in which Jack Salzwedel, chairman and CEO of American Family, was quoted as having said this: We’ve made the comment that it took COVID and physical distancing to bring us closer as an organization. And I think there’s a lot of truth in that. We don’t know if that will come […]
In the July edition of Best’s Review, Bill Pieroni, president and CEO of ACORD, published an article called, “Underspend, Overperform.” In the article, he made a number of good points, including these, which we’ll address in order: “Superior Performers … demonstrated materially higher levels of digital maturity and the resulting productivity.” The importance of that point […]
As human beings and business owners, many changes have been precipitated by the coronavirus pandemic. In contending with everything from restricted travel to social distancing, from working at home to wearing masks in public, we’ve found we’re able to adapt and conform. We’ve also found we’ve been able to learn. In all the lessons available […]
If you’ve been in the workforce for a while, regardless of industry, there are three things you never want to hear, read, or experience. You’re likely to encounter them after some undertaking or other has going horribly awry, usually at the point at which the circular firing squad has been assembled or is about to […]
For those new to the insurance industry, the length and complexity of the system-purchasing process must seem overwhelming and, at times, unnecessary. Overkill might come to mind, but the much-maligned request for proposal (RFP) process drives technology selecting and purchasing in the risk-averse insurance industry. For core administration systems (policy, billing, and claims), RFPs can provide […]
