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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

Coming off a year with record results, industry reports show that prices are starting a downward trend. That ‘hard-ish’ market was gone in a blink. With pressure on rates, carriers have to compete hard to keep their accounts and have to focus efforts on growth just to make up for the rate loss. When it […]

Apr 23rd, 2014 | Filed under Insurance, Market Trends, Marketing, Strategy

Traditionally insurers have been structured by line of business and some have grouped those around personal lines and commercial lines to differentiate businesses from people. With the opportunities of varied distribution channels and more sophisticated technologies insurers are starting to be much more granular in their view of the customers. Insurers have now the chance […]

The image of a supply chain is linear, stretching from one point to another, link-by-link, in an orderly procession. If each part does its part, success is realized. But, we all know that business does not really work like that.  Rather, activities are more random, concurrent and fluid. The case studies at the Celent innovation […]

Aug 26th, 2013 | Filed under Innovation, Insurance, Marketing, Strategy

Ever since we discovered that the internet could be more than just a document repository or shop-front, we have been investing in smart ways to engage our customers better and improve the user experience.  Self-service via a laptop, tablet or mobile device clearly has huge benefits to both the customer who now has access to […]

Dec 3rd, 2012 | Filed under Insurance, IT, Market Trends, Marketing, Strategy