Despite potential, only 10% of insurance customers fully embrace digital channels for their entire purchasing journey. Our recent BCG benchmarking study demonstrates that, irrespective of local regulations or market dynamics, every insurer has the capacity to excel online. Learn more about our findings and how insurers can enhance digital engagement in our latest article, “Transforming the Digital Sales Journey in Insurance” here: https://on.bcg.com/3znAyPh #insurance #digitaltransformation #digitalinsurance
BCG on Insurance
Business Consulting and Services
Boston, Massachusetts 15,941 followers
The insurance industry is entering a new era. Follow us for insights and news from BCG's Insurance practice.
About us
The insurance industry is entering a new era. Follow this page for a collection of insights and news from the Insurance practice of Boston Consulting Group, covering all insurance sectors. Connect with us here or visit: https://www.bcg.com/industries/insurance/default.aspx
- Website
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https://www.bcg.com/industries/insurance/default.aspx
External link for BCG on Insurance
- Industry
- Business Consulting and Services
- Company size
- 10,001+ employees
- Headquarters
- Boston, Massachusetts
- Specialties
- Insurance, Property and Casualty Insurance, Life Insurance, Commercial Insurance, Reinsurance, Risk Management, Health Payers and Providers, and Digital Insurance
Updates
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We're thrilled to share that our recent report with Howden was featured in the Financial Times. Raphael Troitzsch, Managing Director and Partner at BCG, highlighted that despite not expecting a significant reduction in insurance for fossil fuel projects soon, the growing need to cover against natural disasters will catalyze the sector to enhance its efforts. Read more about our insights and the ongoing energy transition in the full report here: https://on.bcg.com/4chKxEt Access the interview with Raphael here (albeit behind a paywall): https://on.bcg.com/4ctwk7u #Insurance #EnergyTransition #ClimateAction
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What can insurers expect from #GenAI? Alexander Vollert, AXA's Chief Operating Officer, recently explored the significant impact of GenAI on the #insurance sector with Charles-Antoine Wallaert at the BCG TECH@SCALE event in Paris. They delved into how this emerging #technology is reshaping industry practices. Key benefits include enhanced processing of previously unstructured data, improved customer interactions, upskilling opportunities, better underwriting and pricing, and more effective portfolio analysis. Catch the full insights from the interview: https://on.bcg.com/3xg7BnJ
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Yesterday, we hosted our highly anticipated Boston Consulting Group (BCG)'s 2024 Bancassurance Circle EUR in Munich. This event provided a dynamic platform for executives across the #insurance industry to explore the latest trends and innovations shaping the future of #bancassurance. We highlighted advancements in the Bancassurance space, including GenAI, SMEs, and digital transformations. We extend our thanks to all who participated, and our BCG hosts, moderators, and panelists: Santiago Mazon, Sebastian Schmoeger, Holger Sachse, Giuseppe Franco and Jürgen Eckel.
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What an exhilarating start to #LCAW2024! Yesterday, Lorenzo Fantini, Managing Director and Partner at Boston Consulting Group (BCG), moderated a dynamic panel on achieving a #climate #insurance breakthrough by 2030. He also presented our latest whitepaper, developed in collaboration with Howden. We're inspired by the energy and insights from Alessandro De Felice, Michael Gosselin, Sarah Hughes, and Nigel Topping, CMG. A heartfelt thank you to everyone who joined and contributed to the discussions. Read the paper here: https://lnkd.in/ghR6sru8
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The #insurance industry has the potential to be one of the key enablers in clearing obstacles to climate transition, supporting adaptation and #resilience against inevitable changes. Published with Howden, “The bigger picture: The $10 trillion role of insurance in mobilising the climate transition” highlights the critical need for businesses and insurers to forge lasting partnerships to support a resilient #netzero transition. Read the paper here: https://on.bcg.com/4bekCfv Rowan Douglas CBE Charlie Langdale Anthony Hobley Charlie Lawson Will Bryan Wendy Woods Lorenzo Fantini Raphael Troitzsch Luca Bizzeti Bruno Davila Garcia
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Our analysis of over 70 insurers across 13 European markets reveals a significant opportunity for enhancing digital sales in insurance, especially for non-life products. Many insurers, however, still face challenges in creating effective digital sales journeys, often pushing customers back to traditional methods. Discover how leading insurers are transforming their digital strategies to capture more market share, reduce costs, and improve customer experience in our latest article, “Transforming the Digital Sales Journey in Insurance” here: https://lnkd.in/ggvtqjun #insurance #digitaltransformation #digitalinsurance Thank you to our great authors, Angelo Candreia, Tobias Hofer, Kryštof Touška, and Siddharth Kumar.
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Today, Raphael Troitzsch, Partner at Boston Consulting Group (BCG), spoke at #ReinsuranceOutlookEU about leadership strategies reinsurance CEOs use to ensure stability and drive innovation amidst global challenges. Raphael, along with co-panelists Fabian Pütz, Marc Luginbuehl, and moderator Wyn Jenkins, explored how CEOs are effectively managing risks and adapting strategies amidst economic uncertainties. The discussion emphasized the critical need for agility and collaboration to sustain resilient and adaptable operations. #reinsurance #insurance
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Yesterday, Boston Consulting Group (BCG) hosted the second session of our 2024 Global Insurance CSO Roundtable series. The event convened CSOs from the insurance sector to explore the crucial topic of Climate Transition. We extend our gratitude to all participants, our guest speaker Charlie Lawson from Howden, and our BCG hosts Lorenzo Fantini, Raphael Troitzsch, and Luca Bizzeti for their insightful contributions to the discussion. #ClimateChange #Insurance #NetZero
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Nathália Bellizia, Managing Director and Partner at Boston Consulting Group, recently discussed the transformative impact of Generative AI on the underwriting profession at Insurtech Insights USA 2024. Alongside co-panelists Sy Foguel, Matthias Weber, Adam Sills, and moderator David Schapiro, they shared valuable insights into how underwriters can leverage AI technologies to enhance risk assessment, streamline processes, and adapt to the changing needs of the industry. #insurtech #genai #insurance