Michael Urban
Managing Director & Partner, Leader Insurance Data Solution Suite
New York
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.
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.
Most insurers are underinvesting in digital initiatives and are steadily falling behind the industry’s “digital champions”—companies prioritizing those investments and building digital organizations. For years, uncertainty about how to digitize, the associated costs, and the return on investment have held back many insurers from taking bold steps. But recent Boston Consulting Group research found that digital investments pay off quickly for insurers, across vital business metrics of revenue, cost, 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.
