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Aug 21, 2024 | 
insuranceblog.accenture.com | Matthew D. Madsen |Michael Reilly |Cindy De Armond |Shay Alon
Personal lines insurance is very price-sensitive. As discussed previously, maintaining a 20+% expense ratio is not feasible for insurers. Beyond pricing, what truly fosters customer loyalty, and how can insurers compete to increase their market share?
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Aug 6, 2024 | 
insuranceblog.accenture.com | Matthew D. Madsen |Michael Reilly |Cindy De Armond |Shay Alon
Use of algorithmic underwriting is increasing across the insurance industry. With enhanced decision-making and improved risk assessments, an algorithmic approach to underwriting can optimize operations for insurers and experience for their customers. In this post we delve into the evolution and advantages of algorithmic underwriting and share our insights on building and scaling an algorithmic underwriting platform.
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Jul 17, 2024 | 
insuranceblog.accenture.com | Matthew D. Madsen |Michael Reilly |Cindy De Armond |Shay Alon
Navigating the competitive P&C personal lines market The global P&C personal lines market, which historically saw premium growth at 3%, has risen sharply to more than 15% in the last two years. Despite this premium growth, the expense ratio for most insurers remains in the high-cost range of 20 – 30%. The need for operational efficiency has never been more critical.
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Jun 24, 2024 | 
insuranceblog.accenture.com | Kenneth Saldanha |Cindy De Armond |Darcy Dague |Roxanne Pointu
The UK is the historical birthplace of the modern insurance industry and where the London Market emerged as a hub for global risk. How are industry dynamics and new domestic challenges in claims and pricing shifting the landscape? It’s London Calling. We mark the 4th anniversary of Insurance News Analysis with this special edition recorded in our London studio. Kenneth Saldanha joins us to dive into the insurance topics that made headlines.
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Mar 7, 2024 | 
insuranceblog.accenture.com | Cindy De Armond
In celebration of International Women’s Day, we are delighted to be part of a panel of extraordinary women leaders for this special edition of Insurance News Analysis. We discuss the strides being made toward gender equality and the work that remains. So, what is being done to recruit, retain and promote women in the insurance industry? The research shows that attracting women is not a problem, but there is a struggle in growing that talent into leadership roles .
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Dec 27, 2023 | 
insuranceblog.accenture.com | Kenneth Saldanha |Cindy De Armond |Ravi Malhotra |Anna Benetto
As we look ahead to 2024, while we see many challenges for the insurance industry, we meet these with optimism. Insurance is a resilient industry with a deep sense of purpose—offering people, families and businesses protection and a more secure future. Global macroeconomic forecasts for 2024 indicate both slowing GDP growth and continuing inflationary pressure. Talent shortages are most pronounced in the U.S. where unemployment is below 4% overall and hovering around 2% for the insurance sector.
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Dec 19, 2023 | 
insuranceblog.accenture.com | Kenneth Saldanha |Cindy De Armond |Ravi Malhotra |Anna Benetto
As we bid farewell to 2023 in this final Insurance News Analysis of the year, we are happy to welcome Cory McAnelly, Assistant Vice President of Enterprise Innovation Strategy at Principal, to delve into what made the headlines this year. We discussed how generative AI is an evolution of the AI and data analytics space, and particularly zoned in on the legal aspects of it.
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Nov 23, 2023 | 
insuranceblog.accenture.com | Kenneth Saldanha |Cindy De Armond |Anna Benetto
As with any new technology, as well as the opportunities it opens up, there are concerns about unintended consequences of generative AI and the need for responsible implementation. We were delighted to be in the hotspot usually claimed by Kenneth Saldanha in this episode of Insurance News Analysis to discuss this important topic and were delighted to be joined by Bruce Hentschel, a luminary in the industry.
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Nov 9, 2023 | 
insuranceblog.accenture.com | Kenneth Saldanha |Cindy De Armond |Anna Benetto
For more than two decades Kenneth has guided insurance carriers in optimizing their business strategies and operations. He has helped clients emerge stronger and more competitive from every kind of challenge—from market headwinds to organizational realignments—and now works with them to navigate the complexities of ongoing industry disruption and convergence. Kenneth earned a Ph.D. in Mathematics from the University of Chicago in 1998.
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Sep 8, 2023 | 
insuranceblog.accenture.com | Jim Bramblet |Ravi Malhotra |Cindy De Armond |François Metzler
The decision to initiate a Guidewire cloud migration should not be made lightly. Like any key decision in life, it is best to find experts, so not to incur potentially large expenditures in the future to fix a poor implementation. Between the financial investment, the large and potentially unknown risks, and the career implications determined by its success or failure, the stakes are very high.
