Insurance

What will the insurance industry look like in ten years? Risk models and competitive assumptions are aging out. Insurtech, the sharing economy, and global warming are disruptive forces. Discover how insurance companies can embrace and thrive in change.

Insights

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The Future Of Insurance

Jeffery Williams August 14, 2019
Given the pace of social change and technological innovation, the future of insurance is very interesting! We recently published research on the future of insurance in which we offer perspectives on three central themes: insurance solutions vs. a products-based focus; ecosystem convergence; and virtual vs. vertical integration. For deeper insights, Forrester clients can check out […]
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It’s Time To Transform Insurance Claims

Oliwia Berdak May 16, 2019
With the right approach, it’s possible to fulfill the promise given to customers while protecting the insurer’s bottom-line performance.
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Transforming The Insurance Industry

What will the insurance industry look and act like? What choices made in the near term will decide insurers' fate in the long term?

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What’s Hot In Insurance Tech In 2019?

Ellen Carney May 14, 2019
Read a preview of our “The Top Insurance Tech Trends To Watch In 2019” report.
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New Tech Spotlight: A Growing Crop Of RegTech Startups Vie For Unicorn Status

Carlton Doty April 25, 2019
[This post was coauthored by my colleague, Christian Austin.] Of the 16 technology markets Forrester monitors for VC funding trends, the $2.1B raised by regulatory technology (RegTech) ranked 14th in 2018. As such, you’d be forgiven for overlooking a category that doesn’t evoke many buzzwords, hasn’t raised the splashy capital of several other markets, and […]
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Cyber Catalyst Brings Minimal Value To Businesses

Heidi Shey April 8, 2019
In late March, Marsh announced the launch of a program with a number of leading cyberinsurance firms including Allianz, AXA, Beazley, XL, and Zurich to evaluate cybersecurity products and services. Products that meet a minimum standard of criteria receive the designation of “Cyber Catalyst” for their effectiveness in reducing cyber risk. The intent is for […]
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Forrester’s Global Financial Services Architecture Online Survey

Luis Deya January 16, 2019
We’ve Kicked Off Some New Research, And We Need Your Help.  An important part of Forrester’s research process is gathering input from financial services companies so that we can advise our clients on the latest trends in the market. We’re currently fielding a survey for vendors, end users, and experts that will provide the key […]
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Top Insurance Tech Trends To Watch In 2019

Ellen Carney November 29, 2018
How will the “whats” of insurance — underwriting, claims, and compliance — translate into new “hows” in 2019? Watch the video below for more information on what’s driving changes in insurance business strategy and the tech that enables it. Do you need more help? Forrester clients can set up an inquiry with us.
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Predictions 2019: In Healthcare, CX Measurement Frameworks, Virtual Care, And AI Come To The Fore

Arielle Trzcinski November 7, 2018
The US population is growing and aging. The volume of patients and the prevalence of chronic conditions are rising. Payers and providers alike are feeling the strain of healthcare’s antiquated system and the damaging effects it has on quality of care and revenue. As a result, the US healthcare market is going through a much-needed […]
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To Benefit From $90B In New Insurance Sales In 2019, Insurers Need A Seamless Digital Integration

Susan Wu October 30, 2018
As Hurricane Willa rapidly moves closer to the US border, how are insurance companies preparing for this next calamity? The rise in natural catastrophes puts mounting pressure on insurance margins. While there’s no resisting Mother Nature, insurance companies need to prepare themselves for the nearly $90 billion in new insurance sales in 2019. The challenge […]
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Profiling Insurtech: Q&A With David Vanek, CEO Of Anorak

Oliwia Berdak September 25, 2018
“Insurance is sold, not bought.” This industrywide perception has gone unchallenged for decades, reaffirming agent- and advisor-based distribution models. But now a plethora of insurtech startups such as Brolly in the UK, Gabi in the US, and PolicyPal in Singapore aim to help customers find suitable cover. A newcomer among the firms digitalizing insurance distribution […]
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Wanted: Fintech Expert

Oliwia Berdak September 19, 2018
Financial services firms are on the hunt. They’re hunting unicorns. As firms like Revolut and TransferWise attain valuations of $1 billion or more, the pressure to find the Stripes of this world before their value skyrockets has never been stronger. But it’s not just the unicorns that firms are hunting. They’re also chasing the wolpertinger. […]
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Video: Boost Customer Engagement With Personalized Video

Nick Barber September 17, 2018
When a car insurance company wanted to boost customer engagement during the onboarding process, it turned to personalized video. No longer a gimmick, brands across verticals use the technology to create unique customer experiences at scale. And the videos resonated with the customers of Geoffrey Insurance: An overwhelming majority of them watched the entire video. […]
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Customer Experience Index Reveals Brands Lack Human Connection

Victor Milligan September 5, 2018
Forrester’s 2018 Customer Experience Index (CX Index™) results continue to show that companies are struggling to create and sustain a human connection with their customers. This is not a question of delighting customers as an endgame or some fluffy sense of emotional attachment; this is a crass and clear story of financial risk. Taking a step […]
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Health Insurers Must Improve Member Experience Now Or Be Replaced

Arielle Trzcinski August 21, 2018
Improve Your Member Experience Now Or Be Replaced Oscar Health is leading with a customer-centric business model and using technology to transform the future of health insurance. Alphabet’s continued investment in Oscar Health follows recent profit announcements from Oscar, firing a second warning shot to insurers. As Oscar shifts its focus to new populations, including Medicare […]
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Your 2018 Guide To Cyberinsurance Is Here!

Nick Hayes June 26, 2018
Forrester’s 2018 Guide To Cyberinsurance Today, no one is 100% secure — believing otherwise is hubris of Icarian proportions. This reality is a core reason why more organizations are turning to cyberinsurance. Because without it in some form (whether it’s a purchased policy or their own allocated cash reserves), they have no safety net to stymie […]
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Auto And Home Insurer CX Inches Up Slightly In 2018

Faith Adams June 21, 2018
Seven auto and home insurers saw a statistically significant change to their Customer Experience Index (CX Index™) scores in 2018. As a result, the average score for the industry has moved up one point since 2017. Insurers should not get too excited, though. Despite this small lift, most policyholders in the US saw little or no […]
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Poor Websites Are Costing American And Canadian Life Insurers New Customers

Ellen Carney April 18, 2018
It’s good times for Canadian and US life insurance companies.  Job and some slight wage growth has spurred an increase in life insurance sales, both through the employer as well as individual life insurance sales.  At the same time,  90+ million Millennials are moving into the life stages of home ownership, parenthood, and marriage that […]
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How To Ride The Technology Wave (And Not Get Swept Away)

Oliwia Berdak March 29, 2018
AI, blockchain, chatbot, digital identity, etc. — there’s enough emerging technology in financial services to fill a whole alphabet book. And it’s difficult not to get swept off your feet by visions of bionic men, self-executing smart contracts, and virtual assistants that anticipate our every need. Investing in emerging technology is one of the main […]
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The Insurance Industry Is A Prime Target For AI Technologies And Solutions

Gordon Barnett March 21, 2018
In their quest to become digital insurers, insurance carriers have a revolutionary opportunity to improve their businesses with new and emerging artificial intelligence (AI) technologies. It is certainly a balancing act to find that perfect peanut butter-and-jelly combination of operational efficiency and customer engagement, however I believe many insurance carriers to be up to the […]
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The Fintech Industry Has Grown Up

Oliwia Berdak March 12, 2018
Having trekked between the ExCel convention center and central London for most of last week – Finovate Europe moved to this larger and more remote location from the historical Old Billingsgate Hall this year – I can’t help but think that the changed location and format of the event reflect the wider changes happening in […]
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