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Archive for the ‘Insurance’ Category

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

The Asia Insurance Technology Awards (AITAs) recognize excellence and innovation in the use of technology within the insurance industry in the Asia Pacific Region. Nominations for the 2014 AITA Awards are now open. Please find more information on Celent website http://www.celent.com/aita, and you can download the nomination form from there. The deadline for submitting the nomination form is […]

Aug 12th, 2014 | Filed under Events, Innovation, Insurance, IT

The announcement yesterday that MassMutual has set up its own fund to invest in innovations that may/will affect life insurers is another move demonstrating how real money is being bet on disruption. Here is the link to their press release site: http://www.massmutual.com/aboutmassmutual/newscenter/pressreleases Celent is aware of several organizations which have set up similar funds. These […]

Jul 25th, 2014 | Filed under Innovation, Insurance

The announcement today (http://www-03.ibm.com/press/us/en/pressrelease/44431.wss ) of the use of IBM’s Watson platform by USAA demonstrates several of the current research themes at Celent. The move is an excellent case of innovation at the intersection of brand, risk management and technology. First and foremost, this is another example where USAA is delivering on its brand promise – to improve […]

Jul 23rd, 2014 | Filed under Innovation, Insurance

Apple has just announced two new “robust frameworks” for developers that are aimed squarely at two of the hottest sectors in the Internet of Things (IoT): HealthKit and HomeKit (http://www.apple.com/pr/library/2014/06/02Apple-Releases-iOS-8-SDK-With-Over-4-000-New-APIs.html). The IoT connects people and non-human things. HealthKit facilitates communication between fitness apps (think fitness bands) and health apps (think doc in a box). HomeKit […]

Jun 3rd, 2014 | Filed under Innovation, Insurance, Market Trends, Strategy

I was talking with a carrier recently who asked an interesting question. “So many of the modern core systems include highly configurable environments. Does it really make sense for the business to be making their own changes?”   We have seen a movement toward more involvement by the business in the configuration of software systems. […]

May 28th, 2014 | Filed under Insurance, IT

In the world of Commercial Insurance there exists the very curious role of Risk Manager. I mean curious in the sense that successful risk managers appear to have superpowers. They are charged with taking the actions necessary to avoid or reduce the consequence of risk across an entire enterprise. Their knowledge must extend deeply into […]

May 22nd, 2014 | Filed under Insurance

Jamie Macgregor, Senior Vice President of Insurance and Nicolas Michellod, Senior Insurance Analyst This event is free to attend for Celent clients, flex-plan clients, and the media. Non-clients can attend for a fee of US$250. If you are unsure of your client status, please contact Chris Williams at cwilliams@celent.com or at +44 208-870-7875. Please click here […]

May 21st, 2014 | Filed under Events
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