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Archive for the ‘Insurance’ Category

The last seven days have been exciting for the next wave in Life insurance (and Health). Last week we saw John Hancock introduce the Vitality program into the US. This week we have a collaboration between IBM, Apple and Medtronic, the huge maker of medical devices. Just yesterday we had an inquiry from a major […]

Apr 14th, 2015 | Filed under Insurance, Market Trends

Bold words, perhaps. Transform the industry? It just might. If you did not see the announcement, you can learn more about the program at the John Hancock Vitality website. If you participate in their program, you can receive rewards and premium savings. The program rewards healthy activity, regular exercise, regular checkups and even reading about […]

Apr 10th, 2015 | Filed under Insurance, Market Trends

On March 23th Celent gathered over 350 bankers, insurers, vendors, news media, and colleagues for our annual Innovation & Insight Day. It was held at Carnegie Hall. For the first time in I&I’s history, we literally were SRO (standing room only)! It was truly an international event in an world renowned venue – I think […]

Apr 1st, 2015 | Filed under Events, Innovation, Insurance, IT

Until now US insurers have intentionally restricted the impact of their telematics programs by holding riskier drivers harmless. In other words, insurers told policyholders in their telematics programs that their premium could only go down or remain the same. Higher risk drivers’ premium would not be increased even if the telematics device revealed driving behavior […]

Today’s announcement of Google Compare Auto Insurance for California will be valued by consumers. Hopefully, it will also spur the industry to action. Celent research has identified that consumers, in general, highly value convenience in purchasing financial services products. In the report Innovation in Insurance: A North American Consumer View, we asked consumers why they […]

Mar 6th, 2015 | Filed under Innovation, Insurance

On Wednesday the 24th Celent hosted our event Making Innovation Happen in Insurance : Hedging Against the Future. The aim of the event was to move beyond the call to action, beyond the cries that innovation is necessary to discuss some practical ways insurers could innovate or have innovated. The feedback suggests we were able […]

Feb 27th, 2015 | Filed under Events, Innovation, Insurance

Celent’s Innovation and Insight Day is about a month away, and everyone at Celent couldn’t be more excited. We have great external speakers bookending the day, and we’ll be exploring exciting technology implementations with 15 Model Insurers in five categories (plus Celent’s Model Insurer of the Year): Digital and Omnichannel Legacy and Ecosystem Transformation Data Mastery and Analytics […]

Feb 26th, 2015 | Filed under Emerging Markets, Events, Innovation, IT

As I am sure all our readers know, data analytics is a critical area for insurers. Few industries have as much data, and do as little with that data, as the insurance industry. This was reinforced today when EXL announced their acquisition of RPM Direct, an analytics company focused on insurance. Personally I find the […]

Feb 24th, 2015 | Filed under Insurance, Strategy

An interesting research paper was pointed out to me by a colleague today. In the report from Tractica, titled, Wearables Device Market Forecast (follow the link to learn more), the summary projects a growth from 17 million in 2013 to 187 million units in 2015. I am not doubting their research (and I admit, I only have […]

Feb 23rd, 2015 | Filed under Innovation

I don’t want to pick on one particular company, but the breach at Anthem hits pretty close to home — our industry is under attack. Should this surprise you? Absolutely not. What is particularly concerning is that these are companies that are spending enormous sums of money to stop these intrusions.   And are still […]

Feb 6th, 2015 | Filed under Insurance, IT, Outsourcing, Strategy, Uncategorized, Vendors