Insurtech (2)

Design Thinking: A Human-Centric Framework for Problem Solving

Aug 20, 2020 / by Truman Esmond posted in openIDL, Community, Issues & Trends, Insurtech, IoT, Working in Insurance, P&C Insurers, Innovation, Design Thinking, AAIS News & Views, AAIS Insights, Executive, AAIS Views

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Design Thinking is a practical and creative approach to problem solving, used in industries and organizations searching for new, customer-centric ways to enhance the customer experience. Design Thinking aims to better understand consumers' needs and formulate an innovative solution for them. When utilized properly, this framework allows organizations to create faster, more profitable innovations at a more efficient rate. At AAIS, Design Thinking helps formulate innovative insurance solutions, such as the openIDL distributed ledger technology for regulatory reporting in 2018.

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The Open Road to Real Change in the Insurance Industry

Jul 9, 2020 / by AAIS posted in openIDL, Community, Technology, Data & Technology, Events, AAIS Event Archive, Open Source, Tech News, Insurtech, Telematics, Auto, Blockchain, Latest News, Agile, Data/Tech, Insurance Services/TPAs, 2020 VME, IBM, Linux Foundation, Hyperledger, AAIS Views

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IBM, who has partnered with AAIS on the development of the openIDL data-management platform on blockchain, has long been a strong proponent of open-source software development. Chris Ferris, an IBM Fellow and CTO for Open Technology at IBM, spoke to AAIS’s Joan Zerkovich on the importance of the open-source concept and the powerful outcomes IBM has seen from building technology in an open environment.

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Parallels Between Yesterday and Tomorrow: Building Data Networks for Success

Jun 30, 2020 / by Joan Zerkovich posted in openIDL, Community, Technology, Data & Technology, Data Management/Distributed Ledger, Distributed Ledger, Insurtech, IoT, Blockchain, Data/Tech, 2020 VME, AAIS Views

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Open source technology. Collaboration and cooperation to improve the products and technologies necessary to move innovation forward. Building a platform where new applications are welcomed to extend the tool’s use cases. These fundamental practices led to the creation of the Internet…and are being seen again as distributed ledger technology takes center stage.

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Open Source at Work: The COVID-19 Data Call

Jun 20, 2020 / by AAIS posted in openIDL, Community, Issues & Trends, Data & Technology, Insurance News/Current Events, Open Source, COVID-19, Insurtech, Regulatory/Compliance, Regulators, Travelers, Data Call, Business Interruption, The Hartford, AAIS Views

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When the COVID-19 pandemic hit the United States, regulators quickly realized two problems. They would need to collect massive amounts of data and issue multiple data calls, particularly around business interruption, and there was no secure, efficient way to gather this data to truly understand the impact COVID-19 was having on the P&C market. With business interruption claims growing, a quick, effective solution was needed.

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A Data-Driven Future: 2020 Auto Trends

Jun 16, 2020 / by Casey Brewer posted in Issues & Trends, Data & Technology, Insurtech, Telematics, P&C Insurers, Auto, Commercial Auto, Data/Tech, Data Management, 2020 VME, TNEDICCA, AAIS Views

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The auto industry is fueling up for new technology down the road. Fully autonomous vehicles and advanced crash-data analysis will all impact not only how the industry operates, but how it is insured as well.

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Reliable Robotics Take on Tasks

Oct 21, 2019 / by Mutual Boiler Re posted in Community, Technology, Issues & Trends, Data & Technology, Robotics/Drones, Insurtech, IoT, New/Emerging Risks, Industry, Farming, Data/Tech, Mutual Boiler Re, FM Global Group, AAIS Views

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Robots – once the subjects of science fiction books, movies and TV programs – are now real-life partners involved in our daily lives in many ways.

Robotic applications are cropping up everywhere to replace an assortment of jobs that
have been performed by humans for decades. Often times, they’re designed to perform a very specific task, allowing them to deliver enhanced productivity, reduced operating costs and decreased error rates. They can be found in various locations and industries, completing repetitive tasks such as assembling orders in a warehouse, harvesting crops on a farm and even preparing meals at a fast-food restaurant.

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Leveraging Insurtech Capabilities

Oct 7, 2019 / by Truman Esmond posted in openIDL, Community, Technology, Issues & Trends, Data & Technology, Insurance News/Current Events, Tech News, Insurtech, IoT, Innovation, Design Thinking, Data/Tech, AAIS Views

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“Insurtech.” It’s a buzzword that’s ricocheting across the insurance industry. But what does it really mean, and how can regulators and carriers leverage insurtech to support their goals and objectives?

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Re-examining the Insurance Customer Experience

Sep 27, 2019 / by John Kadous posted in Technology, Issues & Trends, Insurtech, Insurance Operations, P&C Insurers, Industry, Executive, Customer Experience, AAIS Views

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In the modern, digital marketplace, the customer experience is everything. From retail to service, today’s consumers expect quick, complete and secure interactions at every touchpoint.

Insurance is no different – and with stiff competition to win and retain clients, creating a positive customer experience is more important than ever. Insurers need to shift from being a service transaction industry to an experience industry.

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Driving the Future of Auto Insurance

Jul 8, 2019 / by Casey Brewer posted in Issues & Trends, Data & Technology, Insurtech, Telematics, Auto, Commercial Auto, Innovation, AAIS Views, Autonomous Vehicles, AAIS Auto Program

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Earlier this year, AAIS surveyed insurance carriers to better understand where they believe the auto insurance market is heading and the challenges associated with the auto technology evolution. After analyzing the responses, the results were clear: change is coming, and the opportunities for AAIS to help Members stay ahead of the curve are great.

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Making Sense of Insurtech

Aug 23, 2018 / by Truman Esmond posted in Technology, Issues & Trends, Data & Technology, Insurance News/Current Events, Tech News, Insurtech, IoT, Innovation, Data/Tech

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Insurance and technology have been linked together since the papyrus and quill.  While the technology has changed, from paper to electronic, from documents to apps to web-enabled experiences, the functionality provided by technology has always supported the business – and not the other way around.  While the latest technology is being marketed as “transformational” and “disruptive” to insurance, what is often lost is HOW that might take place. And without that, there’s little value in that transformational technology.  

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AAIS Learning-Pandemic Coverage in the Age of COVID-19
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