The Accenture Blog on Insurance delivers leading insights about opportunities and challenges in the insurance industry.
Enterprise agility – the ability to respond rapidly to opportunities and disruption – is a strategic imperative for financial services (FS)organisations. In a volatile world, agility is required to respond and adapt to a changing and uncertain environment.
New Accenture research confirms that enterprise agility delivers better financial results and improved long-term competitive advantage. It also shows that FS firms on average score low on speed and stability, the two key elements that comprise agility.
The research indicates that firms categorised as ‘Truly Agile’ are twice as likely as the average organisation to achieve top-quartile financial performance, and many times as likely firms rated ‘At Risk’ – which is where most of FS is currently placed.
DOWNLOAD THE REPORT HERE [PDF]
Workplace injuries continue to cost companies and their workers’ compensation insurers billions of dollars each year—the US Occupational Safety and Health Administration (OSHA) estimates the annual direct and indirect costs of lift-related injuries alone top $56 billion. Yet the combination of a new generation of industrial wearables, big data and smart algorithms promises to change this picture for the better.
These technologies have the potential to deliver more accurate risk assessments and the data to support precise interventions that can reduce injury in the workplace. Workers’ comp insurers and industrial organizations can benefit from partnering to drive these solutions into the workplace—in the process, decreasing claims, keeping industrial workers protected and productive, and bringing down costs across the board.
Tech startups, insurers and industrial organisations can leverage connected wearables and data to deliver a triple win: safer workers, lower insurance costs and greater productivity.