For more than 250 years, insurers have used data and statistical tools to assess and manage risk. Today, insurers have access to unimaginably vast troves of new data, and the computing power to explore it quickly. The new insights extend far beyond risk: carriers now gain a deeper understanding of when customers are likely to make a purchase or decline to renew a policy, how customers prefer to access information, and which marketing messages are most likely to resonate with them.
Carriers are continuing to leverage data and technology to improve their operating model and offer new products and services to position their business for growth and meet evolving customer demands.
Laura Hay, Global Insurance Leader, KPMG International
Our latest article, Digital leaders will transform & outperform in life insurance, we discuss the powerful trends unfolding, including continuously changing consumer expectations, the proliferation of data and digital tools, global innovation in products and distribution, and how industry leaders are building new capabilities in-house and through partnerships and acquisitions.
Carriers that accelerate scalable innovation to enhance customer & stakeholder engagement will outperform… and spur a new era of transformation in life insurance.
Ram Menon, Global Insurance Deal Advisory Leader, KPMG International
