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Archive for the ‘IT’ Category

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 […]

Majesco (formerly MajescoMastek) is bulking up fast. On December 12 it acquired Agile Technologies business; and on December 14 it announced a merger with Cover-All. The resulting entity will have revenue greater than $100 million; and more than 150 insurance customers globally. Scale has always been a plus in the insurance software business. It speaks […]

Dec 15th, 2014 | Filed under Insurance, IT, Market Trends, Strategy, Vendors

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

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

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