insurance industry trends

“When you look forward two years and think about your aspirations for your consumer digital experiences, what will inhibit you from reaching those goals?” Dozens of digital business and experience executives across numerous industries and geographies shared their thoughts with us about digital experience’s current state, emerging tech, priorities, and inhibitors. I’ve summarized the findings […]

Technology alone won't drive sustainable competitive advantages. Partnerships, people, products, and processes will factor heavily into four themes that will shape the future of insurance.

Open finance is driven not by regulators but by technologies such as open APIs. This is steadily changing distribution patterns within the industry toward embedded finance — a world of connectivity, with financial services meeting the needs of customers in the moment, in cars, in virtual agents, in shopping apps, and in online marketplaces. If […]

Despite the tumult of 2020, the insurtech market ended the year alive and (relatively) well. While funding did decline 6% year over year, the fourth quarter was the second strongest for funding in 2020 and the sixth largest since tracking began in 2010. The full version of our quarterly insurtech funding roundup report is on […]

The new administration will quickly move to create a healthcare system that tackles key health insurance pain points for consumers: plan quality, accessibility, and costs. Learn what health insurers should expect.

Some may be breathing a sigh of relief — but this is a temporary reprieve. Healthcare organizations and employers must act now to innovate and rethink the way they deliver healthcare services and coverage.

This year of the pandemic will forever be known for its effect on the way we work and interact. Although our “new normal” will be temporary, the digital transformation it brought about will prove lasting. Amid the chaos, insurtechs, with their digital-first business models, have benefited as their funding has continued to improve. In Q3, […]

Mental health has become the focus of the discussion when it comes to employee benefits. As an organization — whether you have remained open, are planning for “return to work” in an office setting, or will continue to keep your workforce remote indefinitely — you need an employee mental health strategy. To set the stage: […]

As the COVID-19 pandemic shifts both geographically and in intensity, changes in consumers’ behaviors present financial services companies with new problems and new opportunities. The near-term impact will change the ways these companies interact with their customers, manage their employees, and respond to the market environment.

2020 has been a year of reckoning. Sustainability is now a business necessity, not just a differentiator. Finance and technology have important roles to play.

Even before the COVID-19 outbreak, our research showed that US consumers were facing multiple financial challenges and were worried about their financial situation. To see how the pandemic was impacting consumer finances and behaviors, we surveyed 1,122 US online adults in April 10–15, 2020 and found that US consumers: Are already feeling the impact of […]

Insurtech funding contracted last quarter amid economic uncertainty. As the pandemic and its aftereffects linger, the outlook remains unclear.

5G will let financial services firms step up their offerings for customers. But it will also increase competition in the sector. Is your tech strategy up to the challenge?

Forrester has curated a list of companies that are delivering virtual care services and support for health insurers, healthcare providers, employers, and consumers during the COVID-19 pandemic. While some vendors initially offered temporary discounts or free services, many have discontinued these practices. From self-triage to virtual care, these services allow healthcare organizations (HCOs) to screen […]

Hong Kong is one of the most sophisticated life insurance markets in the world, attracting thousands of customers from mainland China and many other places. In recent years, the emergence of digital-only insurers and tech giants has brought new elements to the fertile insurance landscape and challenges much old thinking. Let’s unveil three sacred myths […]

CPIC improves CX while saving up to $15 million by providing claims adjusters with an app that leverages computer vision.

In 2020, executives at insurance firms need to tie digital initiatives to revenue or risk seeing budgets slashed.