INN entering second decade of honoring innovative, exemplary women leaders.
CCC's annual publication 'The Crash Course report' provides in-depth analysis on repair costs, telematics and casualty trends and myriad other factors that contribute to the performance of the automotive claims and collision repair industry.
The title of this year’s publication is “Inflection Point” – which is perhaps the best way to describe where we are at the start of 2016. Technology, data, mobility and consumer demands are changing – not predictably or linearly, but exponentially, which means we as an industry need to be ready for just about anything.
We are at an inflection point and the pace of change will be swift. Taking strategic and systematic steps to continue to modernize our technologies and business models is essential to remain competitive. Those companies that can use technology and data to guide, improve and truly create an engaging customer journey will be in the best position to respond to this inflection point.
We expect to see an increasing, widening gap between those insurers that have invested in the how of innovation and those that have not.
Over the past five years, we have seen a pattern emerging where private equity (PE) and venture capital firms have begun to eye the insurance industry – and core systems in particular.
Customer-centricity matters more than any other strategic imperative, based on a Forrester global survey of more than 250 insurance business decision-makers.
With the industry's focus on the Internet of Things, being 'closer to the ground' might be the right move.