Extensive damage resulted from the Kentucky tornado that struck on December 10, 2021. Generally, tornadoes do not produce extensive catastrophe-type responses from the insurance industry because the extent of damage is limited to such a small location

What do space exploration and anti-fraud technology have in common? More than you might think. Great new technologies are influencing things once thought improbable, if not impossible.

It’s hard to talk about 2022 without a look at 2021 first. We all experienced how COVID accelerated adoption of technologies like cloud, AI and mobile. We also saw the disruption in supply chains and the shortages of both materials and labor that emerged as the economy recovered.

It is difficult to imagine where digital business operations would be today if it wasn’t for the catalyst that is the pandemic. For nearly two years, businesses across industries, and especially within insurance, accelerated digital transformation plans to adapt to remote access for customers and employees.

While many claims professionals are familiar with the concept of 360-degree scan and/or photographing technologies, I meet many who do not know how to utilize these resources.

Digital transformation has been the aim of the insurance industry for many years. It has become a war cry as early adopters and new tech start-ups become increasingly frustrated at the general lack of urgency shown for getting the project done.

With innovative technology springing out of venture-funded startups and making its way into monolithic industries like banking and healthcare, it was only a matter of time until tech-driven disruption came for the insurance industry.

Some 20 years ago, I collaborated on a white paper with Bill Gates and other senior leaders at Microsoft on the future of work, to be the centerpiece of the annual gathering he held in those days for Fortune 500 CEOs at his home.

The insurance sector is facing unprecedented change in a rapidly evolving environment. Energy transition, circular economy, urbanization, digitization: These trends have far-reaching consequences for the way we live and work.

In today’s world, a brand’s ability to personalize the customer experience is more critical than ever, perhaps nowhere so much as in the insurance industry.

1 hour, 31 minutes and 39 seconds into The Matrix, something remarkable happens. We glimpse a skyscraper, at the top of which is the single word, ’Norwich’, and what looks suspiciously like the Norwich Union logo. 15 minutes and 9 seconds later, it’s a different skyscraper, but this one has ’Aon’. This tells us everything we need to know about The Matrix.

Digitizing the claims process has been one of the shining examples of innovation in insurance — or so it seemed. But J.D. Power threw some cold water on that notion in a report released last week.

For Tyler Wright, sheriff’s deputy with Florida Law Enforcement, the anxiety and flashbacks that came with PTSD were becoming unbearable.

For as much coverage and discussion as telematics has received over the past two decades, its impact on the auto insurance economy, including transportation, is going to be even greater and further reaching than many may have thought – it will be transformative in the fullest sense of the word.

Machine learning techniques can turn the critical task of identifying changing patterns of claims development and make it a more rewarding activity for both those doing the searching and those who use the information to make decisions.