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Her is a 2013 American science fiction romantic comedy-drama film written, directed, and produced by Spike Jonze. The film follows Theodore Twombly (Joaquin Phoenix), a man who develops a relationship with Samantha (Scarlett Johansson), an intelligent computer operating system personified through a female voice. Jonze conceived the idea in the early 2000s after reading an […]

Oct 9th, 2014 | Filed under Innovation, Insurance, Market Trends, Uncategorized

My colleague Karen Monks and I have published a report on digital transformation in insurance recently. The main objective of this report was to identify differences in terms of digital transformation in insurance between different continents. However we have quickly noticed that the term “digitization” can generate confusion in insurance professionals’ mind. Celent defines digital […]

Oct 9th, 2014 | Filed under Innovation, Insurance, IT, Strategy, Uncategorized

The adoption of mobile technologies is accelerating. Smartphones rocketed from a 10% adoption rate to 40% in just two and a half years, faster than any technology except television, and tablets are moving even faster, blowing away all previous adoption standards. Carriers are increasingly turning to their software vendors to create mobile access to core […]

Sep 18th, 2014 | Filed under Vendors
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I’m sometimes asked, “What is the worst error an insurer undergoing replacement of its core solutions can make? And how can that pratfall be avoided?” There are a lot of candidates for this honor: for example poor governance, inadequate project management, underestimating the complexity of data conversion and or integration, incomplete knowledge transfer—the list goes […]

Sep 16th, 2014 | Filed under Insurance, IT, Strategy, Uncategorized

All IT professionals have a horror story about a system upgrade gone wrong. Since most policy administration systems (PAS) have a 12 – 18 month upgrade cycle for major releases, there are plenty of opportunities to misstep. To address this dynamic, a consistent claim of modern PAS vendors is that multi-tiered architectures and other technical […]

Sep 15th, 2014 | Filed under IT

Hmmm . . . That combination is pretty tasty in a Waldorf salad, but it’s a bit hard to think of other recipes that do appeal. The Apple Watch is very attractive—one analyst hoped it would be stylish enough to wear to the Oscars. (I’ll let everyone know what I decide to do next year). […]

Sep 10th, 2014 | Filed under Innovation, Insurance, IT, Uncategorized

For most people the amount of time, skill and effort required to get access to our family photos far outweighs the possible value someone would find there in. Thus, security measures based on making it really quite difficult to get to the data while at the same time not too hard to use have become […]

Sep 3rd, 2014 | Filed under Insurance, Regulation

I was jolted at 3:20 Sunday morning by a 6.1 earthquake. I live about 15 miles as the crow flies from the epicenter of the quake. I woke up as the bed began to shake –noticeable enough to wake me – and then stronger and stronger. The quake went on for about 20 seconds- which […]

Aug 25th, 2014 | Filed under Events

AM Best came out today with a revision for the reinsurance sector from stable to negative as the reinsurance market continues to soften. When it comes to reinsurance, it’s been a buyers’ market. Competition in the global reinsurance industry is fierce as there is significant excess capacity. Reinsurers have experienced lower than anticipated cat losses […]

Aug 20th, 2014 | Filed under IT, Market Trends, Strategy

Data initiatives abound in the insurance industry. Most carriers have some type of data initiative in place. They focus their efforts on implementing reporting tools, analytic tools, and repositories — with all the tools that go with them.   Data governance, on the other hand, is an emerging discipline. The discipline includes a focus on […]

Aug 12th, 2014 | Filed under Insurance, IT