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Posts Tagged ‘core systems’

I’m sometimes asked, “What is the worst error an insurer undergoing replacement of its core solutions can make? And how can that pratfall be avoided?” There are a lot of candidates for this honor: for example poor governance, inadequate project management, underestimating the complexity of data conversion and or integration, incomplete knowledge transfer—the list goes […]

Sep 16th, 2014 | Filed under Insurance, IT, Strategy, Uncategorized

All IT professionals have a horror story about a system upgrade gone wrong. Since most policy administration systems (PAS) have a 12 – 18 month upgrade cycle for major releases, there are plenty of opportunities to misstep. To address this dynamic, a consistent claim of modern PAS vendors is that multi-tiered architectures and other technical […]

Sep 15th, 2014 | Filed under IT

The following text was published today in Inter-American Dialogue’s Financial Services Advisor under the title: “What is driving the insurance market in Latin America?” I provided my view to FSA in advance, and now that it is out there I thought it made sense to share it with you through our blog. Growth continues to […]

Mar 18th, 2014 | Filed under Emerging Markets, Insurance, Market Trends, Regulation

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 […]

Reprising last year’s 12 Gifts of Celent on 12/12 I thought it was worth looking at free gifts offered, namely the most popular posts from 2013 on this very blog. I’ve gone for most popular blogs or blog sets by page views, which of course favours the older blogs because they’ve had longer to accumulate […]

Dec 12th, 2013 | Filed under Emerging Markets, Innovation, Insurance, IT, Market Trends, Strategy

A recurring finding from Celent research concerning the use of social media in insurance is the perception that the return on investment is low or nonexistent. Given that the cost of social platforms is minimal, this implies that the benefits associated with it are thought to be very low. Celent believes that insurers can increase […]

Feb 14th, 2013 | Filed under Insurance

Celent held its 10th Peer Networking Event in Toronto last week and met with Canadian-based carriers to discuss insurance innovation and trends in big data. The purpose of the discussions was to identify practical ways to make progress on these topics in the face of increasing demands from the day-to-day business. The group reviewed the […]

Nov 2nd, 2012 | Filed under Insurance

Celent’s message of “healthy discomfort” as a driver of positive change seemed to resonate with attendees, both carriers and their vendors. It came into virtually every conversation in some way.

Nov 8th, 2011 | Filed under Insurance

In preparation for the Creative Disruption event in Boston on November 3rd, Celent surveyed insurers to gather their views on using creative disruption to bring sustained, fundamental change to their organizations. By creative disruption, we mean implementing the initiatives that are required to fundamentally alter how insurance products are developed, implemented, and serviced. With over […]

Oct 18th, 2011 | Filed under Insurance

One of the frequently referenced benefits of transitioning to a modern automation platform is the ability to have some amount of system maintenance moved out of programming areas. In some organizations, this means having business analysts make changes to systems; in others, end users in business units perform selected modifications. Lower cost and shorter cycle […]

Sep 10th, 2010 | Filed under Insurance