Changing the way insurers think: The risk concierge concept

Digital Reinvention
16/03/2023 Article
profile picture of Christian Bieck

Christian Bieck

IBM Consulting (Germany)

Global Insurance Leader for the IBM Institute for Business Value (IBV) and Leader for IBV Europe

The risk concierge at your service

In the past, betting on change in the insurance industry never was a particularly winning play. Whether it was deregulation, the advent of the World Wide Web, or the proliferation of insurtechs, the total disruption often predicted somehow never quite came to pass. 

For years, many insurers simply equated digital transformation with ‘paperless’. In 2018, two years before the Covid pandemic, only 12% of insurance executives reported prioritizing true digital transformation. Four years later, this number jumped to 64%. So many insurers have recognized that simply digitizing existing processes is not enough. Digital transformation powers entirely new classes of risk products, broader, across more lines and with more advice and service.

Want to keep reading?

Create a web account to get access to more insights

Related news & insights

Embedded Insurance
05/03/2024 Video

Why embedded insurance has become so important

For Jean-Marc Pailhol, Allianz Partners Board Member & GSP Chief Officer, embedded insurance is not new. It has existed for...

04/03/2024 Interview

Inside the panel: Angelo Di Rocco takes on Qorus Innovation in Insurance Awards

Angelo Di Rocco is Group Business Development & Partnerships Manager at Generali. This year he is joining the Qorus Innovation...

02/03/2024 News

New travel insurance program offers device protection anywhere

Travelers now have access to a pioneering program in the travel insurance industry, thanks to a partnership between Bolt and...

27/02/2024 News

Blink Parametric teams up with Buckler México to introduce cyber security solution

This proactive Data Protection solution detects potential breaches early and alerts clients to take necessary steps to safeguard their online...

26/02/2024 Interview

Inside the panel: Dr. Robin Kiera takes on Qorus Innovation in Insurance Awards

Dr. Robin Kiera is the CEO and Founder of Digitalscouting, a consulting and marketing agency based in Germany. Robin is...

26/02/2024 News

Itaú Unibanco boosts insurance business with Avita acquisition

Avita's platform allows clients to efficiently issue, manage, and control various insurance policies, streamlining processes and reducing costs.

24/02/2024 News

Trupanion hits landmark: Over 1 million pets insured

Trupanion, a leading provider of pet medical insurance, has reached a significant milestone, insuring over one million pets across North...

SME Banking
23/02/2024 News

Griffin launches Foundations: BaaS integration for UK companies

Griffin, a leading UK bank and Banking as a Service (BaaS) platform, has introduced Foundations, an early access program tailored...