Managing Director & Partner, Leader Insurance Data Solution Suite
Michael Urban is a core member of Boston Consulting Group’s Insurance practice and the global leader of productivity improvement in Insurance and BCG’s insurance excellence benchmarking product. He is an expert in the field of digital insurance. Michael has advised multinational and regional clients in the insurance and banking sectors on digitizing their core business, organization, and operations. He focuses on assuring long-term competitive advantage, leveraging innovation, and introducing new technologies. He is also an expert in customer journeys, complexity reduction, Agile@Scale, DAI, and productivity improvement.
Michael is a mathematician. He joined the Dusseldorf office of BCG in 2003 and moved to the New York office in August 2019.
Insurers can benefit from efficiency gains of 30% to 50% with these three steps.
Bionic Operations is more than Digital 2.0! It constitutes a new logic in client interactions with proactive and preemptive personalized services enabled by a new digital ecosystem. The impact for insurance companies is tremendous, with regard to both business logic and the setup and workforce required. The future of insurance operations has arrived, and we’ll share real-life examples.
Leading companies are already implementing a bionic approach. Others should follow.
The COVID-19 pandemic—along with the new reality taking shape because of it—has created a clear mandate for insurers: deal with the rigors of the present and the near future while starting to prepare for challenges and opportunities over the longer term.
As the COVID-19 pandemic forces insurers to prepare for the new reality, a focus on five particular areas can help them begin.
Insurance companies that make targeted, bold investments in digital initiatives see quick returns on revenue generation, cost containment, and customer satisfaction.
Successful digital transformations in the insurance industry are often easier said than done. Learn how to start, enable, and scale digital transformation in the insurance industry from BCG’s digital insurance experts.