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Dec 19, 2024 | 
dig-in.com | Kenneth Saldanha
Traditionally, insurance business leaders viewed innovation as somewhat of a luxury—positioned at the margins of the business, underfunded, and observed with the anticipation of only minor changes in business operations or performance. Today however, there is growing pressure on the industry to pursue transformative change, as customers are demanding greater choice and enhanced experiences.
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Nov 29, 2024 | 
insuranceblog.accenture.com | Matthew D. Madsen |Shay Alon |Kenneth Saldanha
Insurers that focused on modernizing technology and improving their data, analytics and artificial intelligence (AI) capabilities are now able to incorporate generative AI (gen AI) as a natural next step on their reinvention journey. Gen AI is changing everything. It is being used throughout the value chain to improve customer interactions, streamline operations and support decision-making.
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Aug 26, 2024 | 
insuranceblog.accenture.com | Kenneth Saldanha |Max Richter |Accenture Insurance |Matthew D. Madsen
Recently, many leading insurers have applied transformative solutions to enhance their cyber products. With the cyber insurance market projected to , we explore what constitutes market-leading cyber claims management. In this blog we’ll delve into the complexities of responding to cyber claims, the essential skills required by claims adjusters, and the measures insurers must take to achieve excellence in cyber claims management.
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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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Feb 20, 2024 | 
insuranceblog.accenture.com | Shay Alon |Jim Bramblet |Kenneth Saldanha |Silvia Milian
Today’s cloud-based policy administration systems (PAS) are designed to enable both P&C and Life insurers to manage policies through their entire lifecycle and are the foundation of carriers’ digital strategies. These types of platforms are a boon to carriers looking for ways to enhance their customer relationships and develop more effective offerings but many carriers aren’t leveraging the full potential of these systems.
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Jan 12, 2024 | 
propertycasualty360.com | Kenneth Saldanha
In 2024, we will see AI treated more as supplementary talent. Insurers will also test sourcing models for “complex” work that was closely held and traditionally developed. Credit: Andrey_Popov/Shutterstock As we enter 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.
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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 | Venkat Viswanath |Kenneth Saldanha |Darcy Dague |Jim Bramblet
According to AM Best Financial reports, between 2018 and 2023, litigation management costs for the combined Property & Casualty industry increased by 19%, amounting to an increase of $4-5 billion, or for context, bringing total litigation expenses to ~$24B of LAE. In both personal and commercial lines, carriers have experienced the adverse effects of social inflation.
