- Industry: Insurance
We are happy to have you as part of our diverse and rapidly growing insurance community
Our team has been very busy helping clients develop new capabilities, products, and customer experiences that make a difference.
We see many positive indicators for the insurance industry right now. Rates are on the rise. Policy volume is up in most segments. First quarter earnings were strong. Merger and acquisition activity remains high. Deriving value from untapped data and optimizing operations to improve efficiency continue to represent key themes of our recent work, and we believe these efforts will have a solid impact on earnings for years to come.
Yet, there remain many areas that demand our attention—from the unintended consequences of regulatory changes to the next “Sandy” to the implications of evolving technology— all requiring insurers to offer differentiated services to stand out. Based on industry trends and our recent work with clients, we’ve selected several topics to explore in more detail, sharing some relevant insights and best practices:
- Using advanced analytics to retain the right insurance customers. With organic growth central to many firms’ strategies, retaining your most valuable customers is critical. To help customer retention and offer differentiated services, top insurers use advanced data analytics to identify indicators of potential fraud and help manage this fraud more effectively.
- Help your clients protect one of their most important assets: their information. Cyber-crime is becoming more frequent and damaging for companies, both large and small. Insurers can play a proactive role in helping risk managers and buyers understand their exposure and take the right steps to reduce risk.
- Agility and responsiveness are key to realizing merger and acquisition benefits: A case study. Capturing value quickly is a challenge in most mergers and acquisitions, especially in “carve-out” situations that require creating a new entity. In this article, we highlight critical success factors and guiding principles that helped one client plan for a smooth, effective transaction.
I hope you find this information interesting and relevant. If there is anything we can do to assist, or if you just want to talk about something you’ve read or heard, please don’t hesitate to contact me or anyone on our team.
Finally, as we approach the summer months, we wish you, your teams and your family a safe and sunny summer!
Cindy De Armond