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Archive for January, 2013

Most cultures reward and encourage success. Growing up, we learn quickly to highlight our brilliance and down play our mistakes. The corporate world we operate in only reinforces that. Do you remember how many times you had to fall off your bike before you could ride it successfully? You had to fail before you got […]

Jan 28th, 2013 | Filed under Innovation, Insurance, Strategy

Social Media has established a foothold in many insurers in the United States. However, strategies, goals and results vary widely. In order to shed some light on why and how this new tool is being used by insurers to enhance their businesses, Celent and Locke Lord LLP are conducting a survey among their respective clients […]

Jan 22nd, 2013 | Filed under Insurance

On January 17 I&T posted a story about an exchange that took place at the Property/Casualty Joint Industry Forum between State Farm’s CEO, Edward Rust Jr., and an industry analyst, Brian Sullivan. Mr. Sullivan said, “It’s impossible for anyone to look at the data and say there won’t be fewer accidents than before. The technology […]

Jan 18th, 2013 | Filed under Insurance

Preliminary entries are in and they are strong! As many of you know, Celent kicked off a contest to define innovation in six words or less. Based on the principle that scarcity breeds creativity, we challenge you all to stir your creative juices and give it your best shot. We have received over 90 submissions so […]

Jan 14th, 2013 | Filed under Insurance

PwC has just published an interesting and thoughtful paper on, “The Reshaping of Auto Insurance.” The paper describes the possible impact of various on- board technologies (automatic braking, telematics, etc.) on auto losses and the longer term potential for changes in auto insurance business models. Here are a few Celent comments: It is true that […]

Jan 8th, 2013 | Filed under Insurance

For those interested in how new data techniques and availability are changing business models, I can recommend the article Smarter Information, Smarter Consumers in the latest edition of Harvard Business Review. http://hbr.org/2013/01/smarter-information-smarter-consumers/ar/1 The central premise is that legislation in the U.S. and U.K. now requires government agencies to make public data available and consumable in electronic […]

Jan 1st, 2013 | Filed under Insurance