The UK’s First Personal Insurance Policy for ‘driverless cars’: Too early or just in time?

Yesterday, we received a press release announcing the launch of a new insurance proposition targeted at personal use for ‘driverless cars’ from Adrian Flux in the UK. This news arrives hot-on-the-heels of the Queen’s Speech last month that announced the UK Government’s intention to go beyond its current ‘driverless’ trials in selected cities and legislate […]Continue reading...

Apax Partners adds Agencyport to its growing property/casualty technology investment portfolio

Today’s announcement of Apax Partners’ acquisition of Agencyport makes sense. This deal is a further commitment by Apax to the property/casualty software sector—following shortly after Apax’s announcement of its equity investment in the soon to be independent Duck Creek. Insurers want the internal and external users of their systems to have seamless mobile access to […]Continue reading...

How life insurers can make underwriting investments that pay off

Automation blog graphicThere is much to automate in the new business process but where should automation dollars be spent to provide the best returns? The new Celent report, Making Life Insurance Underwriting Investments That Pay Off, provides a framework for answering this question. Celent’s analysis divides the new business and underwriting process into 22 logical components of […]Continue reading...

Reporting from Celent’s Model Insurer Asia Summit

If 2015 was the year of FinTech, 2016 will surely be the year that InsurTech comes into its own. Celent has been presenting our views on InsurTech and emerging technologies at insurance conferences throughout Asia for some time now, so naturally we see this as a welcome—and inevitable—development. We held our 7th Annual Model Insurer […]Continue reading...

Who has the best life insurance new business and underwriting system?

New business imageCelent has published a new report, North American LHA New Business and Underwriting Systems: 2016 ABCD Vendor View, in which Celent profiles fourteen providers of new business and underwriting systems. Each vendor responded to a request for information. Seven vendors met the criteria for inclusion as a potential Xcelent winner. The seven vendors eligible for […]Continue reading...

Regulators will hug their blockchains – takeaways from Consensus 2016

"Show of hands, how many people don't know insurance at all?"I attended the blockchain (BC) conference Consensus2016 this week and came away with some enhanced perspectives about the technology and its market. The ability to immerse myself in the subject, hear multiple points of view, and learn about different projects was extremely valuable. Here are my highest level takeaways along with some general observations.   […]Continue reading...

How do insurance providers develop an agile IT infrastructure?

Insurers have always faced the challenge of taking products and solutions to market faster and doing so at lower cost. The sources of this challenge are not new – changing partner and customer expectations, increased and new competition and demanding regulators with perhaps the addition of the current financial climate. Insurers have risen to each […]Continue reading...

Your customers hate your group email box (and you should too)

I’m currently dealing with two group email box issues. In one instance, I’m a frustrated customer, irritated beyond belief by the lack of response to my repeated email service requests. In the other instance, I’m the party ultimately responsible for a group email box, and I’m getting an earful from a frustrated customer. The overlay […]Continue reading...

For sustained innovation, it is not only the “What” but also the “How”

I read an excellent article recently by CoinDesk on John Hancock Insurance Company’s testing of blockchain in insurance. This is one of the early, public declarations that insurers are exploring the potential of this technology. Jamie Macgregor and I also explored this subject recently in the report: Blockchain in Insurance: Use Cases There is another […]Continue reading...

Internet of Things – NBA edition, round 2

For those of you that follow our blog, you may have read my post from April 8th, entitled Internet of Things – NBA edition. If not, then I’d suggest you click the title and read that post first. Given we’re in round 1 of the playoffs, this post feels even more timely. The basic premise […]Continue reading...