Today, in most insurance organizations the underwriting function is fragmented into market segment or lines of business. These profit and loss centers drive demand for product, and technology solutions for their areas. Although this model can encourage internal competition and tactical success, it has also resulted in fragmented underwriting processes, operations, data and systems. As a consequence, insurers are left with IT environments and operations that are costly to maintain and difficult to change. They also lack the resources needed to drive strategic investments.

IIS Executive Insights Regulation Expert: Bill Marcoux, WCM Advisory LLC

Click here to read Bill Marcoux's bio
View More Articles Like This >
 

Eduardo Godoy Pascal, Head of LongTerm Life Insurance Unit, GNP Seguros

The digital age has revolutionized< people´s lives, it has generated profound changes in our society. Internet, computers and devices modified the habits and customs of our society, allowing people to interact with each other around the world, chat with family and friends, share moments, work remotely, compare goods and services, order groceries, buy technology items and carry out banking operations. No one in 1983 (year of internet born) would have imagined that. 

Jessica Gaudio, Senior Director of Membership, The Institutes CPCU Society

For an industry, and a world, that is becoming increasingly digitized, automated, and reliant on technology, where do people factor in and why should we keep the “human element” top of mind? According to author and consultant, Manuel Palachuk, the human element encompasses those skills and abilities that come purely from being human – drive, ambition, compassion, empathy and understanding.

Elaine George, Digital IoT Operations Division, Chubb

Jean-Roch Sibille, Chief Risk Officer, Allianz Life Insurance Company of North America

A report by Munich RE

Click here to learn more

A report by Munich RE

Click here to learn more

This article was originally published in the Fall 2018 edition of  INSIGHTS: A Professional Journal by the CPCU Society and is shared with permission from The Institutes CPCU Society.  The Society For Chartered Property Casualty Underwriters. All rights reserved. www.CPCUSociety.org

Read more

I have been asked a number of times to provide my perspective on the insurance industry in the time of the Industrial Revolution 4.0. In this piece I’ll do so, but first, how did we get to 4.0? What preceded and led to this brave new world of what’s now called “IR4”?

Learn More