Have Electronic Applications Come of Age?

My first experience with an electronic application was in 2002.  I was working with a major credit card company who included a flyer along with the billing statement that provided information about how to apply on-line for their term life insurance product. We didn't know how many applications to expect; but based on the wide […]Continue reading...

Looking at insurance through a different lens

This year at Celent we ran a few scenario analysis sessions with different audiences, covering all lines of business. Some interesting findings came out from those scenarios related to changes in product . These scenarios covered different situations where basically products become more transparent, more flexible and more service oriented. Celent's latest report on the subject: […]Continue reading...

You Must Be Present to Win: Reflections on InsureTech Connect and the Conference Season

October is a busy month for insurance technology conferences. I am fortunate in my job to be able to attend these events, and I always come into the end of the year with a refreshed gauge on the major challenges and opportunities facing our industry. Having attended six events in the last five weeks, I […]Continue reading...

It’s Not Just Twitter’s Problem: What Insurers Need to Know about DDoS and the Snake in the IoT Garden of Eden

On Friday October 21 a massive Distributed Denial of Service (DDoS) made over 1,000 websites unreachable, including, Twitter, Netflix and PayPal. Two cloud providers, Amazon Web Services and Heroku reportedly also experienced periods of unavailability. The attack was directed against a key part of the internet’s infrastructure, a domain name system provider, Dynamic Network Services […]Continue reading...

The Evolving Role of Architects

In the last couple of weeks I’ve had the great opportunity to spend time with IT architects of various sorts both inside and outside of the insurance industry. The discussions have been illuminating and offer different visions and futures both for technology that supports insurers and for the future of the architecture function in insurers. […]Continue reading...

In search of a new ‘dominant design’ for the industry. What does insurtech have to offer?

There is little in the world of insurtech happening today that insurers couldn’t arguably choose to do for themselves if they were motivated to do it. They have the capital to invest. They have resources and could hire to fill gaps in any new capabilities required. They importantly understand the market and know how to […]Continue reading...

Where is the innovation in Individual life and annuity?

I had the pleasure of attending an amazing event last week in Las Vegas. The InsureTech Connect event drew over 1,500 people, from insurers to vendor to investors. Given the unprecedented size of an inaugural event, I was very impressed with how well the event worked. The sessions were good, but for me, the opportunity […]Continue reading...

The Rise and Rise of Analytics in Insurance

As noted in our prior research insurance has always been an industry that relies on advanced analytics and has always sought to predict the future (as it pertains to risk) based on the past. (For research on advanced analytics in insurers see here, here and here). As observed in the last post here analytics, AI […]Continue reading...

“All that glitters is not gold”: Four concepts, four potential insurtech responses

As a few of us head to InsureTech Connect in Vegas this week to explore what the world has to offer in insurtech, I feel the need to keep my feet firmly on the ground and not to get too caught up in all of the glitz and glamour of both the location and the […]Continue reading...

Life Insurance Automated Underwriting – A 25 Year Journey

Automated underwriting has come a long way in the last 25 years. It may be surprising that there was automated underwriting 25 years ago. At that time, it was called ‘expert’ underwriting. The idea was right, but the timing was wrong. The underwriting engines were black box algorithms; there was no user interface; data was […]Continue reading...