Archives

Archive for the ‘Insurance’ Category

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

There have been radical changes in user interface and computing technology over the last decade or two. The Nintendo Wii propelled a new style of gaming to the forefront and touch enabled smart devices have done wonders for Apple, Samsung and Google’s Android platform. All of this seems to have made Microsoft’s old WIMP based […]

Jan 27th, 2015 | Filed under Innovation, Insurance, IT

It’s 2015, the mid-point of the decade and a good time to start looking at major trends in Asian financial services over the next five to ten years. One of the major themes will be regional integration, which is another way of saying the development of cross-border markets. There are at least two important threads […]

As you all likely know, the World Economic Forum is this week in Davos. I have reviewed much of the information, as the world economy interests me, and one area was the list of 100 strategic partners. I clearly do not know every company but it appears that 13 of the 100 are banks. That […]

Jan 23rd, 2015 | Filed under Events, Insurance