Insurance giant AXA, frequently classified as ‘archaic and static’, is now embracing machine learning and real-time driver data collection to determine individual car insurance premiums.
In 2015, MetLife began a year-long brand discovery process that centered around using data and machine learning to develop a more refined view of their customer segments and enable a more nuanced go to market strategy. By better understanding their customers' needs, attitudes, and behaviors, MetLife hoped to gain a competitive advantage in targeting and better serving an increasingly demanding set of customers.
Insurance companies are increasingly relying on machine learning to create cost efficiencies. Allstate is seeing success in its machine learning implementation to date, but what are the implications for its employee base and long term competitive advantage?
Aligning Allianz’s operational strategy with its vision for a sustainable future
Digital players like biBerk are delivering commercial insurance coverage directly to small business owners online and threatening to turn the small commercial insurance industry on its head
Digitization is shrinking risk pools and upending the traditional insurance model
Discovery is revolutionising financial services by leveraging technology to drive behavioural changes in its customers
Allianz, the global insurer, has led the way in promoting clean energy to mitigate climate change, but now it must focus on its core competency by creatively reducing climate-related vulnerabilities.
Insurance companies are paying the price of climate change. How can they survive when this price keeps going up?
Allstate and other insurance companies should take on a proactive approach towards reducing the rate of global warming that can ultimately result in a win-win situation.