5 04, 2018

Insurers Hold the Key to Healthcare’s Digital Future

By | April 5th, 2018|Financial Services, Healthcare|0 Comments

Imagine this scenario: It’s 7:30 AM, and time to leave for work. You normally drop your three-year-old daughter off at day care on your way to the train station. However, this morning she has developed two red, itchy blotches on her face. Is she sick, you wonder? Is it serious? Is she contagious? Looks like you’ll have to keep her out of day care and take her to the pediatrician, and who knows when you’ll be able to get an appointment. Or maybe you’ll just need to go to the doctor’s office and wait to be squeezed in. Either way, you or your spouse will have to miss a partial or full day of work. But what if things could be done differently, more efficiently, [...]

13 12, 2017

For Brokerages, Better Digital Experiences Earn Greater Loyalty

By | December 13th, 2017|Advanced Analytics, Blog, Financial Services|0 Comments

By Andrew Edwards Providing sound advice is a big part of earning customer loyalty in the brokerage business—but it's not enough. Bain & Company analysis of a new survey by J.D. Power of 6,500 investors in the US suggests that brokerage firms can capture more of the benefits from customer loyalty by offering an excellent digital experience around planning, reviewing and adjusting investments. The chart shows that digital intensity in a customer's interactions correlates with a higher Net Promoter Score® (a key metric of loyalty) for the firm, as opposed to the individual adviser. Firms with the highest loyalty score—USAA, Fidelity and Charles Schwab—also lead their peers in the degree of their digital, self-serve model. Net Promoter®, Net Promoter System®, Net Promoter Score® and NPS® [...]

30 11, 2017

Maureen Burns: How Big Tech Could Upend Banking

By | November 30th, 2017|Financial Services, Video|0 Comments

More big technology companies are offering financial products, creating a challenge for retail banks. Maureen Burns, a partner in the Financial Services practice, discusses how banks can remain competitive by boosting customer satisfaction and loyalty through digital channels. Read the Bain Brief: Evolving the Customer Experience in Banking

25 07, 2017

Jennifer Zeng: Blockchain in Financial Markets―How to Gain an Edge

By | July 25th, 2017|Financial Services, Video|0 Comments

Although most financial services executives believe blockchain will have a significant impact on markets, almost 40% of them are taking a wait-and-see approach to the technology. Jennifer Zeng, a partner with Bain's Financial Services practice, outlines three steps financial services companies can take to prepare a robust strategy for embracing distributed ledger technology. Read the Bain Brief: Blockchain in Financial Markets—How to Gain an Edge

5 07, 2017

Henrik Naujoks: How Insurers Can Seize the Digital Opportunity

By | July 5th, 2017|Financial Services, Video|0 Comments

Digitalization can benefit insurers and customers alike, if companies take it seriously and invest in it. Henrik Naujoks, who leads Bain's Financial Service practice in Europe, the Middle East and Africa, shares four things insurance companies can do to seize this immense opportunity. Read the Bain Brief: Digitalization in Insurance—The Multibillion Dollar Opportunity

14 06, 2017

Florian Mueller: Digitalization in Insurance

By | June 14th, 2017|Financial Services, Video|0 Comments

Insurers could turn up a multibillion dollar opportunity as they increase their use of digital technologies such as machine learning. Florian Mueller, a partner in Bain's Financial Services practice, shares three factors insurance companies should consider when incorporating artificial intelligence into their businesses. Read the related Bain brief: Digitalization in Insurance—the Multibillion Dollar Opportunity

14 04, 2017

Profiting from the Digital Revolution in Insurance

By | April 14th, 2017|Blog, Digital Transformation, Financial Services|0 Comments

By Henrik Naujoks, Florian Mueller and Nikos Kotalakidis The business of property and casualty insurance—assessing risk, collecting premiums and paying claims—hasn’t changed much since 1861, when a group of underwriters sold the first policies to protect London homeowners against losses from fire. Recently, though, the insurance industry has embarked on a radical transformation, one spurred by a series of digital innovations whose widespread adoption is just a few years away. Seven key technologies have already begun to disrupt the industry—infrastructure and productivity, online sales applications, advanced analytics, machine learning, the Internet of Things, distributed ledger and virtual reality—and their impact will accelerate in the next three to five years, according to research by Bain & Company and Google. These new technologies will be a boon [...]

4 04, 2017

Digitalization in Insurance: The Multibillion Dollar Opportunity

By | April 4th, 2017|Financial Services|0 Comments

The business of property and casualty insurance—assessing risk, collecting premiums and paying claims—hasn’t changed much since 1861, when a group of underwriters sold the first policies to protect London homeowners against losses from fire. Recently, though, the insurance industry has embarked on a radical transformation, one spurred by a series of digital innovations whose widespread adoption is just a few years away. Bain & Company and Google have identified seven key technologies—namely, infrastructure and productivity, online sales technologies, advanced analytics, machine learning, the Internet of Things, distributed ledger and virtual reality—that have already begun to disrupt the industry and whose impact will accelerate in the next three to five years. These new technologies are likely to be a boon for consumers, bringing more choice, better [...]

24 02, 2017

Thomas Olsen: Blockchain Impacts on Financial Ecosystems

By | February 24th, 2017|Financial Services, Video|0 Comments

Distributed ledger technology (DLT) has left many financial services firms unsure of how and when to proceed. Thomas Olsen, a partner with Bain's Financial Services practice, discusses how firms can take a strategic approach to adopting DLT and creating more efficient financial systems and organizations. Read the Bain Brief: Blockchain in Financial Markets—How to Gain an Edge

9 02, 2017

Blockchain in Financial Markets: How to Gain an Edge

By | February 9th, 2017|Financial Services|0 Comments

With all the noise surrounding distributed ledger technology (DLT), you’d expect participants in financial markets to be racing full-bore to get ready for it. But many are not. Part of the reason is concern about the scope and cost of the challenge. Presented almost daily with new claims about blockchain’s disruptive and revolutionary potential, many executives have begun to wonder how much benefit they’ll actually see from DLT in the near, or even medium, term. Business leaders now confront a seemingly impossible and contradictory situation. They’re dealing with a technology that has been simultaneously overhyped and underestimated. While DLT is making inroads into some areas of banking, such as cross-border remittances, the path to implementation across broad and diverse financial markets is less clear. Read [...]