Archive for the ‘Marketing’ Category

I rarely, actually never, give advice to automobile manufacturers because I am an insurance technology analyst, and not an automotive analyst. But as more and more and more auto manufacturers make announcements about their plans to get autonomous cars on the road, ready or not—the dire implications for automobile insurance cannot be ignored. So on […]

Most carriers in North America work with independent agents. Although the majority of premium for personal lines is written direct, that is largely concentrated in a few large carriers. Carriers who use independent agents know that high production from agents is correlated with strong relationships. However, beyond encouraging a strong personal relationship with an underwriter, […]

Jul 20th, 2015 | Filed under Insurance, Marketing

Carriers use a variety of techniques for growing the book and most consider distribution management as a key component of their growth strategy. They are expanding channels, adding distributors, moving into new territories, and working to optimize their existing channel to improve customer acquisition and retention. Some carriers are investing in improving the servicing of […]

May 18th, 2015 | Filed under Insurance, Marketing, Strategy

Let me present you my first smart watch: Timex Datalink. My mom gave me this as a present when I was 23, back in 1995 (Oh my, I just gave out my age!). For those that haven’t seen one of these, it was the first watch capable of downloading information from a computer. Co-developed by […]

May 7th, 2015 | Filed under Innovation, Insurance, Market Trends, Marketing

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 […]

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 […]

Growth and retention continue to be the top business goals affecting IT investments. However, in our current hyper-competitive marketplace with continued pressure on rates, growth opportunities for insurers are limited. Many carriers are focusing on improving their distribution practices as a key technique for driving growth. Carriers are expanding channels, adding distributors, moving into new […]

Jan 22nd, 2015 | Filed under Insurance, Marketing, Strategy, Vendors

I love games. And I bet you do too. The Pew institute says the 77% of all US households own at least one video game. When you add in card games, sports, and politics – there’s a lot of game playing happening. But we don’t usually think of games as being a legitimate activity to […]

May 12th, 2014 | Filed under Innovation, Insurance, Market Trends, Marketing

Our team spends a lot of time thinking about the role of the agent. Over the years, we have seen considerable change, particularly in the application of technology. What we have not seen change is the agent. By agent I mean the “transactional” life insurance agent. Their business is made up of selling life insurance, […]

May 8th, 2014 | Filed under Insurance, IT, Market Trends, Marketing

I bought my wife some flowers recently, and was shocked to discover that the florist—as of this minute, my ex-florist—no longer gives out those little cards you tuck in the arrangement. The person behind the counter said, “We have these new ones from Hallmark, for only 99 cents…” Huh? I’m spending $20 on cut flowers […]

May 5th, 2014 | Filed under Insurance, Marketing, Strategy