Product Code: IS0959MR
Timetric's ‘Insight Report: Digital Innovation in Insurance' analyzes the potential impact of digital technology to the entire insurance supply chain, from product development to claims management, enabling insurers to reduce costs, and increase efficiency and profit margins.
An increasing number of insurers are investing in building digital infrastructure and striving for growth by developing new business models using digital platforms. However, insurers are yet to fully capitalize upon the transformative power of digital technology, and many are still struggling to develop digital strategies that align with their business objectives. The insurance industry recognizes the need to overhaul traditional business models, to capitalize on the advantages of digital technology and respond to the challenges of digital disruption.
The report discusses how insurers in different markets use digital technology in different business functions, including product development, sales and marketing, underwriting, claims management and customer services. It also discusses market trends, opportunities and challenges faced by insurers in the successful implementation of digital strategy.
Timetric's ‘Insight Report: Digital Innovation in Insurance' provides detailed analysis of the adoption and contribution of digital technology to the insurance industry globally. It provides:
- Comprehensive analysis of core digital technology such as social media, mobile technology, big data and cloud computing used in the insurance industry.
- A global snapshot of digital innovation and growth opportunities for the insurance industry.
- Insights into key market trends relating to digital technology in the insurance industry globally.
- Analysis of market opportunities and challenges faced by insurance companies globally when adopting digital technology.
- The report provides detailed analysis of the insurance industry's use of big data analytics and cloud computing in the insurance supply chain.
- It offers insights into the rising trend of social media, its adoption and impact in different functions in the insurance industry.
- It analyzes opportunities for insurers when using digital channels to create new products and services.
- It discusses emerging digital technology in the insurance industry, including the internet of things, telematics, and wearable technology.
Reasons To Buy
- Understand present developments in terms of level of digital engagement in the insurance industry.
- Gain an understanding of digital experiences and changes in consumer behavior in the digital era.
- Gain insights into challenges for digital insurers, and an understanding of the insurance industry's future through use of digital technology.
- Develop an insight into teh digital technology used by insurers to improve product development, marketing, operations, customer engagement and brand building to improve overall efficiency and profitability.
Table of Contents
1. Executive Summary
2. Digital Trends in the Global Insurance Industry
3. Consumer Behavior in the Digital Era
4. Big Data and Cloud Computing
- 4.1. Big Data
- 4.2. Cloud Computing
5. Social Media
6. Exploring Untapped Digital Opportunities
- 6.1. The Internet of Things
- 6.1.1. Telematics
- 6.1.2. Wearable technology
- 6.2. Mobile Technology
7. Challenges for Digital Insurers
- 9.1. Methodology
- 9.2. Contact Timetric
- 9.3. About Timetric
- 9.4. Timetric's Services
- 9.5. Disclaimer
List of Tables
- Table 1: Usage-Based Insurance Products in the US
List of Figures
- Figure 1: Regional Digital Trends in the Insurance Industry
- Figure 2: Key Changes in Consumer Behavior
- Figure 3: Use of Big Data Across the Insurance Supply Chain
- Figure 4: Types of Cloud Services
- Figure 5: Use of Social Media Through Insurance Business Functions
- Figure 6: Significance of the Internet of Things in the Insurance Industry
- Figure 7: Global Motor Insurance Gross Written Premium, 2009-2018
- Figure 8: Connected Wearable Devices Globally (2014-2019)
- Figure 9: Opportunity for Mobile Technology in Insurance