BCG's second report on the global fintech sector, “Global Fintech 2024: Prudence, Profits, and Growth”—coauthored again with QED Investors, is sharing the latest state of the global fintech market. ⭐ Review the 10 key takeaways from the report and read the full piece here: https://on.bcg.com/3Y8OEyl #fintech #innovation #growth
BCG on Insurance
Business Consulting and Services
Boston, Massachusetts 15,968 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
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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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Significant opportunities could exist for South East Asian banks in #bancassurance earnings, a recent BCG paper, "Bancassurance in Southeast Asia: A $114 Billion Opportunity", found. Among leading European banks, bancassurance contributes 30% of earnings before tax (EBT), according to the study. In Latin America, bancassurance provides 20% of EBT. In SEA, however, bancassurance provides just 7% of EBT. 💡 Clearly, there is room for growth here. Read more in our paper "Bancassurance in Southeast Asia: A $114 Billion Opportunity" https://on.bcg.com/3y8k5hC #insurance #bancassurance #southeastasia
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A corporate’s supply chain emissions are, on average, 26 times higher than their operational emissions. Yet, only 15% of corporates have set upstream Scope 3 targets. This disparity underscores a critical opportunity for insurance companies to lead the way in promoting transparency and sustainability within supply chains. Discover more about the impact and strategies for managing Scope 3 emissions in our latest report: https://on.bcg.com/3KUTEPt #supplychain #insurance #sustainability
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BCG's Most Innovative Companies 2024 report reveals that although #innovation readiness has declined, prioritization is at an all-time high. In the #Insurance industry, 76% view it as a top-three priority. There isn’t a single approach that fully captures what #GenAI offers. Executives are encouraged to evaluate their opportunities across three broad value plays: https://on.bcg.com/4bdivZl
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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
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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