Ungated Post | 07 Feb 2017
Rethinking insurance: How cognitive computing enhances engagement and efficiency
Oxford Economics worked with IBM’s Institute for Business Value in mid-2016 to field a survey among 1,502 C-suite executives in a range of roles around the world. As the cognitive era dawns, outperformers in the industry are rethinking insurance by applying technologies that understand, reason, learn and interact to improve the way insurers do business.
For success in the digital age, insurers must tap the hidden treasure they already own in massive quantities: data. They need to be able to scrutinize internal and external data sets, many of which have not been digitally accessible. IBM’s 2016 Cognitive Insurance Survey identified a lack of internal agility and the threat of outside disruption as major industry challenges requiring urgent responses. We categorized insurers based on revenue growth and operating efficiency over the past three years to allow a comparison of strong performers with others in the industry. While many organizations still have far to go, outperformers are already taking strides to become fully fledged cognitive insurers.
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
Related Services
Post
Socioeconomic Impact of DP World in Senegal
Oxford Economics Africa conducted a socioeconomic impact assessment of DP World Dakar covering 2022–2024. We assessed DP World’s operations in Senegal, quantifying its economic footprint, the activity supported through trade facilitation and evaluating social and environmental outcomes, while mapping how value is created for key stakeholders: employees, customers, suppliers, partners, and communities.
Find Out More
Post
From Farm to Table: The Philippine Agri-Food Economy in 2025 and the Road to Competitiveness
This report assesses the Philippines’ agri-food system, from agricultural production and food and beverage (F&B) manufacturing, to the wholesale, retail, and hospitality distribution networks that bring F&B to market. We quantify the economic contribution of the local agri-food sector, document the challenges faced by Philippine agri-businesses due to the tightening operating environment and shifting trade patterns, and outline a practical path to navigate these headwinds.
Find Out More
Post
Economic benefits quantum computing can bring to Sussex and Greater Brighton
This report focuses on the quantum computing sector in Sussex and Greater Brighton, and its potential contribution to the South East and wider UK economy.
Find Out More
