NPS, Retention Rates and beating Digital Disruptors
Insurers achieve an 83% retention rate with an average Net Promoter Score (NPS) of 42. Customers rate "Ease of Tracking a Claim" as more...
Contributors
-
Digital Claims Transformation, Insurtech, Analytics
InsurTech World Archive
- December 2024 (2)
- November 2024 (5)
- October 2024 (4)
- September 2024 (5)
- August 2024 (3)
- July 2024 (2)
- June 2024 (1)
- May 2024 (1)
- April 2024 (1)
- March 2024 (4)
- February 2024 (2)
- January 2024 (3)
- October 2023 (6)
- September 2023 (1)
- August 2023 (2)
- July 2023 (2)
- June 2023 (1)
- May 2023 (2)
- April 2023 (3)
- March 2023 (4)
- February 2023 (6)
- January 2023 (3)
- December 2022 (3)
- November 2022 (3)
- October 2022 (4)
- September 2022 (3)
- August 2022 (4)
- July 2022 (4)
- June 2022 (5)
- May 2022 (5)
- April 2022 (5)
- March 2022 (6)
- February 2022 (9)
- January 2022 (2)
- December 2021 (12)
- November 2021 (10)
- October 2021 (7)
- September 2021 (9)
- August 2021 (6)
- July 2021 (15)
- June 2021 (11)
- May 2021 (12)
- April 2021 (17)
- March 2021 (13)
- February 2021 (12)
- January 2021 (11)
- December 2020 (12)
- November 2020 (17)
- October 2020 (10)
- September 2020 (17)
- August 2020 (14)
- July 2020 (18)
- June 2020 (15)
- May 2020 (21)
- April 2020 (19)
- March 2020 (12)
- February 2020 (15)
- January 2020 (23)
- December 2019 (13)
- November 2019 (15)
- October 2019 (22)
- September 2019 (14)
- August 2019 (20)
- July 2019 (18)
- June 2019 (18)
- May 2019 (27)
- April 2019 (21)
- March 2019 (18)
- February 2019 (25)
- January 2019 (10)
- December 2018 (15)
- November 2018 (25)
- October 2018 (25)
- September 2018 (26)
- August 2018 (27)
- July 2018 (27)
- June 2018 (19)
- May 2018 (16)
- April 2018 (25)
- March 2018 (31)
- February 2018 (33)
- January 2018 (41)
- December 2017 (20)
- November 2017 (24)
- October 2017 (28)
- September 2017 (7)
- August 2017 (20)
- July 2017 (29)
- June 2017 (23)
- May 2017 (6)
- February 2017 (1)
- January 2017 (2)
- December 2016 (1)
- January 2016 (1)
Top Global 100 Digital Insurance Companies
Whatever you think about your ranking it is based on measurable impact rather than words and hubris. Check out where you stand.
If you are...
Is insurance a rich enough game to disrupt?
I see a limited number of insurers having the vision, goals, strategies and digital acumen to keep tech giants at bay and thrive.
Then a...
Valuable data that solves discrepancies saves money and reduces fraud
Why do insurer's ignore 80%, maybe 90% of crucial data? There are reasons such as it being unstructured, in multiple formats, in silos...
Lord(s) of Life Insurance Business | What’s going on in Mordor?
Disruptive threats facing life insurers from: -
- Asset Managers
- Banks
- Big Techs
- Confrontative Startups
- Re-insurers
New Insurance Business;
Key results need to be measurable results
“Don’t tell people how to do things, tell them what you need done and let them surprise you with their results.” — General George...
Factfulness and why chimpanzees make better decisions than humans
In November 2016 I wrote "The average expert was roughly as accurate as a dart throwing chimpanzee! They were no better than...
Biggest gaps between Digital Leaders & Average Insurers? You may be surprised
Culture is a key success factor and differentiator but that's not all. The largest capability gaps between leaders and average insures...
Insurers testing new analytics frontiers face meaningful change
Willis Towers Watson advanced analytics survey of U.S. P&C insurers’ attitudes states : -"three areas dominate insurers’...
Breaking Boundaries: How InsurTech is Moving Beyond Insurance
Thought provoking new study from renowned Startupbootcamp and PwC.
Smart insurers will insist that any digital insurance platforms...
Real-Time Customer Experience- Really?
Is your customer updated in real-time every time there is a change in status? Can they click a button and start FNOL immediately?
Five Evidence-Based Factors in Transformation Success
Important BCG Study reported in MIT Sloane Management Review details five critical success factors (CSF) in successful digital...
Lloyd’s Market Association head calls for deep review
Indication that Lloyds of London is trying to modernise existing processes rather than re-imagine business models for the future. That...
Insurers still have room to grow in automation
"Why should insurers continue to develop automation solutions? Because new, agile InsurTech startups tend to be more customer-centric,...
Small Insurers, Digital Priorities & Competitive Threats
"I get it, change is hard… but, the argument, “we are not in a financial position to prioritize” is irrelevant to the discussion of...
Digital engagement, communications and orchestration
Digital transformation projects often miss a critical success factor- communications and orchestration. There are so many people involved...
Claims workforce of the future
"The optimal insurer will be a bionic organisation, harnessing the power of data and technology, while combining this with a human touch...
Keys to developing customer-centric technology
"Today, tech goes beyond chat, email and apps. With the consumerization of IT, customers are doing business via chatbots, smart speakers...
To combat fraud insurers turn to augmented intelligence
Not just USA- in UK applying business rules gained from big data analytics to flag potential fraud has lead to auto insurance...
Transformation- it's all about competence
"What is the source of business transformation? Technology? Changing processes? Leadership? Innovation?
It can be all of the above....
Implement First, Ask Questions Later
How many digitally transforming insurers are tied by the inflexibility of even cloud-based digital claims platforms?
The linked MIT Sloane...
THE CURRENT PROBLEM WITH DIGITAL TRANSFORMATION
"“when it comes to digital transformation, most companies don’t know what they don’t know.”
Heather Clancey Fortune 2016
CEOs,...
Digital Pioneer or Follower?
Whether Pioneer or Follower both strategies can achieve success. To ensure optimal innovation outcomes, however, Oxbow Partners...
Will value-added services become the core of the insurance proposition?
Begs the question as to why they are not the core now! Any insurer not combining value-added services with digitisation of the whole...
WHY INSURTECH NOW MATTERS FOR CORPORATE AND SPECIALITY INSURERS
Underwriting depends on gathering the right data to make the right decisions. When claims are made the same is true to optimise indemnity...
WeChat Gives Glimpse Into The Future of Banking
The startling number of everyday functions that WeChat allows Chinese customers to complete is long.
- Making payments
- Scheduling...
Pet Insurance NPS tops 80% and rising
Pet insurers paid out £775 million in claims in 2017 – the highest figure on record representing a 10% year-on-year increase – to help...
As a free user, you can like posts.
To repost this post to your own Passle blog, you will need to upgrade your account.
For plans and pricing, please contact our sales team at sales@passle.net