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Posts Tagged ‘analytics’

At each of the five Celent Innovation Roundtables held in the last several months, innovation practitioners consistently identify culture change as a significant success factor. A particular challenge, poor communication between technologists and their business partners, is often cited as a barrier. The Second Machine Age by MIT professors Erik Brynjolfsson @erikbryn and Andrew McAfee […]

Mar 19th, 2014 | Filed under Insurance

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 […]

It’s clear that my colleagues and I see 2014 as something of a tipping point, a water shed for established and new technologies  to take hold in the insurance industry. I’ll try to summarise them succinctly here. Expect to see reports on these topics in the near future. Celent’s 2014 prediction focus on: The increasing […]

Dec 20th, 2013 | Filed under Insurance, IT, Market Trends, Strategy

Social Media has established a foothold in many insurers in the United States. However, strategies, goals and results vary widely. In order to shed some light on why and how this new tool is being used by insurers to enhance their businesses, Celent and Locke Lord LLP are conducting a survey among their respective clients […]

Jan 22nd, 2013 | Filed under Insurance

For those interested in how new data techniques and availability are changing business models, I can recommend the article Smarter Information, Smarter Consumers in the latest edition of Harvard Business Review. http://hbr.org/2013/01/smarter-information-smarter-consumers/ar/1 The central premise is that legislation in the U.S. and U.K. now requires government agencies to make public data available and consumable in electronic […]

Jan 1st, 2013 | Filed under Insurance

What is the link between improving service technology and improving sales incentives? This was the topic of a very insightful conversation that I had recently with an insurance CIO. It highlighted how interrelated the processes are in the insurance value chain. Investments can be made in one area, but if other, correlated areas do not […]

Jul 16th, 2010 | Filed under Insurance

For online insurance shoppers, price is the most important parameter and in mature markets aggregators exert strong pressure on insurers and online players need to improve product pricing. To do so, insurers should invest in pricing optimization and sophisticated analytic tools. Predictive analytics and price optimization both together support insurers’ capability to adapt to customer […]

Jan 11th, 2010 | Filed under Insurance, IT, Market Trends, Strategy

Celent’s AML vendor evaluation reports have become something of a de facto standard, referenced by financial institutions and regulators around the world. We began covering the sector in 2003, and are about to start work on our 3rd edition of the report. Although initially the insurance industry was not seen as a high-risk area for […]

Jun 4th, 2009 | Filed under Insurance