Archive for the ‘Strategy’ 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 […]

Here’s a thought experiment. Imagine that you manufacture some things – let’s call them automobiles. And imagine that in those automobiles you’ve installed bunches of computer systems to control steering, braking, transmission, engine performance, and even record GPS-determined locations. Let’s call these computer systems electronic control units (ECUs). And imagine that these ECUs generate streams […]

Sep 24th, 2015 | Filed under Innovation, Insurance, Strategy, Uncategorized

Celent and Asia Insurance Review hosted the 5th Asia Insurance Technology Awards (AITAs) at AIR’s CIO Technology Summit at Le Meridien Hotel Jakarta on 1 September 2015. The AITAs recognize excellence and innovation in the use of technology within the insurance industry. This year we received over 30 nominations from Australia, Hong Kong, Taiwan, India, […]

My colleague and I were all set to go to West Palm Beach this week for the LOMA TECH conference. We were looking forward to participating in the inaugural event and were both speakers. Then the weather intruded. Our friends at LOMA had a tough decision to make on Friday as Hurricane Erika was coming […]

Sep 1st, 2015 | Filed under Insurance, Strategy

On Monday, I was asked to present at a UBS conference for investors on technology disruption facing the industry. It was far from Celent’s usual audience of business leaders and technologists, and as a result the questions being asked were quite different, sometimes challenging, however refreshing at the same time. One of the most interesting […]

Jul 17th, 2015 | Filed under Market Trends, Regulation, Strategy

Choosing a vendor can make your head spin. There are so many things to consider. I know I have been tempted to create a dartboard and throw a dart to make the final decision. After hearing multiple presentations, most with similar pitches, the result can be “vendor soup.” So how do you decide? There are […]

Jul 6th, 2015 | Filed under Insurance, IT, Market Trends, Strategy, Vendors

Today’s blockbuster announcement of Ace buying Chubb will have a lot of industry ramifications—some of which will play out in the IT sphere. No doubt there has already been an IT assessment element in each insurer’s due diligence efforts. Between now and the effective date of the merger, there will be a lot of planning […]

Jul 1st, 2015 | Filed under Insurance, IT, Market Trends, Strategy, Uncategorized, Vendors

The just released report by the National Traffic Safety Board (NTSB) contains some important findings on collision avoidance systems’ potential to prevent or mitigate the severity of rear-end collisions. Some of the data points are eye-popping: a predictive analysis found that this technology could prevent or reduce deaths and injuries in 87% to 94% of […]

Jun 23rd, 2015 | Filed under Innovation, Insurance, IT, Market Trends, Strategy

Last week, I was watching the National Spelling Bee as they crowned two winners for the second consecutive year. What an amazing performance! One of the winners spoke of her passionate pursuit of winning the Bee. The comment made me reflect on a question I was asked during my interview with Celent. The question was […]

Jun 1st, 2015 | Filed under Insurance, Strategy

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