A.M. BestTV Series on Insurance Innovation: Technology Helps, Culture Makes the Difference

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)-- A series of new ^A.M.BestTV episodes featuring A.M. Best analysts and researchers look at how innovation is rapidly transforming the insurance industry. In the first of five episodes, Sridhar Manyem, senior director, Edin Imsirovic, senior financial analyst and Clare Finnegan, criteria analyst, examine a new A.M. Best industry survey of more than 450 insurance companies globally, which shows how many insurers are hungry to embrace innovation, but some face internal challenges to change. Click on http://www.ambest.com/v.asp?v=innovation1018 to view the entire program.

A.M. Best believes that innovation is becoming increasingly critical to the success and long-term financial strength of an insurer, as it enables a company to maintain relevance by developing meaningful solutions to ever-evolving risks or improving operational efficiencies.

“The increase in insurtech players is providing opportunities for insurance companies to do interesting things without necessarily having big investments,” said Imsirovic. “Innovation is also about the culture of a company, management’s ability to recognize good ideas, and equally important, to implement and execute those ideas to gain a sustainable advantage.”

To access a copy of the special report, titled, “Insurers Agree Innovation Is Critical for Future Success,” visit http://www3.ambest.com/bestweek/purchase.asp?record_code=278448.

Other episodes of ^A.M.BestTV in this series on innovation include:

Property/Casualty Innovation: It is a Connected, Data-Driven Future: Manyem and Jieqiu Fan, senior financial analyst, examine survey responses from the property/casualty segment, which shows that these insurers’ future successes or failures will be based on their ability and willingness to innovate: http://www.ambest.com/v.asp?v=innovationpc1018.
Life/Annuity Innovation: Insurers Look Beyond Sales, Distribution: Jason Hopper, associate director and Kevin Varvaro, associate analyst, say life/annuity survey respondents are concerned with breaking the constraints of legacy technology systems and finding ways to form deeper relationships with customers: http://www.ambest.com/v.asp?v=innovationlifeannuity1018.
Reinsurance Innovation: Building the Data Crossroads: Manyem and Victoria Ohorodnyk, financial analyst, discuss innovation efforts in the reinsurance industry, saying that companies are focused on gathering, analyzing and leveraging increasing amounts of data to build more effective partnerships with primary insurance clients: http://www.ambest.com/v.asp?v=innovationreinsurance1018.
Health Innovation: It’s About Controlling the Cost of Care: Sally Rosen, senior director and Hopper look at survey responses from health insurers, who are innovating by forming data partnerships with a growing range of health service providers: http://www.ambest.com/v.asp?v=innovationhealth1018.

^A.M.BestTV covers exclusive A.M. Best and insurance industry information and reports, targeted topics and key developments in the insurance, reinsurance and related sectors daily. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View ^A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.