“The conservative reputation the industry enjoys has served to camouflage a tremendous track record of innovation.” – Deloitte | Despite its longstanding conservative, stoic persona the life insurance industry has always experienced innovation. The difference now is that insurance innovation has become the new face of the industry because of the adjective that’s been tacked on to it: disruptive.
Gambling and life insurance – a surprising yet oddly appropriate pair. That’s what I thought as I walked through The Bellagio doors on a sunny, April day in Las Vegas. I wasn’t there to play games of chance though – I was at the 2016 LIMRA Life Insurance Conference to learn about disruptive innovation examples in insurance and how Pyramid Solutions can help the industry with advanced case management and analytics – honestly.
Advanced analytics in life insurance is all the rage. Insurers collect an abundant amount of data on their customers, but more often than not, this data slowly becomes dark data that is not leveraged. More specifically, an article by Deloitte predicts that by 2020, the total size of the digital universe will be 44 zettabytes (44 trillion gigabytes) — with 37% of that data not being used.
By partnering with LOMA (Life Office Management Association), we are able to provide better solutions and services to our life insurance clients. Access to industry leaders and some of the industry’s largest life insurance conferences will provide us with a platform to learn, test ideas and continually improve our current offerings.
For over 90 years, the IASA (Insurance Accounting & Systems Association) has been serving the educational needs of insurance industry professionals. The association is regarded by many as a high-quality resource with a variety of valuable programs.
For an industry typically associated with being stale and stagnant, the latest insurance software products are definitely not those things. Every day visionary tech and software companies release new products that improve the back-end experience for users of insurance software and the front-end experience for insurance consumers. Here are a few different insurance software products and technologies that are moving the industry from stale and stagnant to innovative and influential.
If you’re only as good as the tools you’re using, then your life insurance software needs to be pretty stinkin’ amazing. With time being so precious, does your life insurance software optimize it? Here are seven time-saving features that every life insurance software should have.
For its 17th year, the Association of Home Office Underwriters (AHOU) will bring together its members, insurers from across the country, and solution providers in Chicago, Illinois. The 17th Annual Conference will address a hot topic in the insurance industry: “Underwriting and the Winds of Change.”
It seems like everything I read talks about how life insurers need to innovate to achieve organic growth. They need to overhaul legacy systems and ditch the manual processes. They need to adjust to their demanding customer-base: millennials.