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Archive for June, 2009

Social networking was in the headlines again this week with an Insurance Times article on the marketing angle of this nascent phenomenon. I was interested to read that Direct Line plans to use Twitter to communicate with customers, and the process was deemed useful as it had a potential to enhance brand image. As many […]

Jun 29th, 2009 | Filed under Insurance, Marketing

China’s new insurance law will take effect on October 1 2009. The revised law strengthens protection for policyholders, the insured, and beneficiaries. However, it adds operational requirements for insurance companies. For example, the revised law adds a two-year incontestable rule to protect the insured party. It is a very common clause in Western countries, but […]

Jun 22nd, 2009 | Filed under Emerging Markets, Insurance, IT

The Obama administration published its white paper on financial services industry reform this week, Financial Regulatory Reform: A New Foundation, Rebuilding Financial Supervision and Regulation (http://www.financialstability.gov/docs/regs/FinalReport_web.pdf) . This will now serve as a baseline against which the legislative process can act. So, while this is not law yet, there are some broad trends which can […]

Jun 19th, 2009 | Filed under Insurance, Regulation

While many people refer to Web 2.0 as a technology, Celent considers it more of an attitude. As already mentioned in one of my previous posts on this blog, Web 2.0 combines the need for more mobility, faster information flows, a higher degree of openness, and a strong reliance on collaboration and community. To do […]

Jun 17th, 2009 | Filed under Insurance
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Cloud computing and Software as a Service (SaaS) offer significant advantages and paths to valuable operating models. However, as with all opportunities, an optimum solution requires that a devil’s advocate position factor into transition planning. One area for the advocate to explore is the exit strategy for an insurer in a cloud computing and/or SaaS […]

Jun 15th, 2009 | Filed under Insurance

At Celent, we often find ourselves helping insurance carriers implement a process of change, whether it’s selecting a new policy administration system, process reengineering, or restructuring the IT organization. Change means more than just a new technology or a new process; it also requires a shift in corporate culture. Even when the IT-side of a […]

Jun 15th, 2009 | Filed under Strategy

Post magazine reported an interesting little factoid – No Lloyd’s insurers in the FTSE 100. Amlin share price dropped at the announcement of of the share issue.

Jun 12th, 2009 | Filed under Insurance

Celent is publishing two reports reviewing Policy Administration Systems (PAS) and IT vendors in Europe later this year. The first one will profile solutions available in the general insurance sector and the second one in the life and pension sector. For insurers the selection of a PAS requires the analysis of different parameters that have […]

Jun 7th, 2009 | Filed under Insurance

Celent senior analyst Mike Fitzgerald This event is only open to Celent clients. Please click here for more information.

Jun 4th, 2009 | Filed under Insurance
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Celent’s AML vendor evaluation reports have become something of a de facto standard, referenced by financial institutions and regulators around the world. We began covering the sector in 2003, and are about to start work on our 3rd edition of the report. Although initially the insurance industry was not seen as a high-risk area for […]

Jun 4th, 2009 | Filed under Insurance