Risk, reward and cyber-scurity

Risk, reward and cyber-scurity
For most people the amount of time, skill and effort required to get access to our family photos far outweighs the possible value someone would find there in. Thus, security measures based on making it really quite difficult to get to the data while at the same time not too hard to use have become increasingly popular. I would file username and password security in here. Occasionally, the digital assets on the other side are valuable to the right group. Banks use 2 factor authentication and a variety of non-digital schemes to ensure security. Even World of Warcraft where rare digital swords and armour carry their own value offer broader measures of security to protect accounts. The recent leak of a number of celebrities private photos shows that there are other assets worth the time and effort required to break this level of security. The risk associated with the data insurers hold has to date been quite minimal. There are health, specialty lines and large commercial lines where this isn’t the case, but for most people the data held by insurers and available through portals is largely innocuous and available through other means. As insurers start to tap into wider data sources and the Internet of Things it is imperative that the industry considers how it protects it’s customers. A simple example from products available today: some insurers likely hold the real-time location of the car driven by celebrities and millionaires children, thanks to the increasing popularity of telematics based car insurance. This brings with it increased security, the opportunity to recover the car if stolen and the opportunity to bring much needed assistance swiftly if the car and driver suffer an  accident. In the wrong hands this data is sadly highly valuable and thus worth the time, effort and risk to assault and try to recover. Whilst the details around the leak are still emerging it is clear that it is incumbent on the providers of these services to offer sufficient security in the first place and to educate it’s users on appropriate use. To insurers looking at cloud and portals, I say consider the edge cases – the celebrities using your security for instance, those for whom there are organised groups who would be rewarded for getting the data. Take into account the type of data available through various security schemes and portals, some information is naturally less sensitive. No one will read a story about a film star’s driving score and premium due next month, but where they drove and when – well maybe that’s a headline you don’t want your name associated with.

You can take a horse to water but a pencil must be led: The challenge of “What does Digital really mean for the industry”?

You can take a horse to water but a pencil must be led:  The challenge of “What does Digital really mean for the industry”?
Recently, I facilitated a roundtable discussion on “What digital really means for the industry”. Over the last couple of years, we’ve run many similar roundtables on the topic. Each time we run one, it never ceases to amaze me around the lack of a common definition for what digital really means, not just across the industry between firms but also between individuals within the same firms. In fact, I’m sure that there is a PhD paper waiting to be written on the topic. One of my favorite set of questions at these events is to first ask the delegates how they define “digital” and then to follow-up by asking if this definition is shared across their organization. Generally, when you ask the first question, you get very articulate and clearly well-thought through strategic response that makes 100% rational sense. Then, when you ask the second question, you often get a look of despair or, at best, frustration with their colleagues who “just don’t get it” or are “pulling in different directions”. Well, I might be exaggerating a little here but hopefully you get the idea. From the experience of asking this question repeatedly over the last couple of years, it seems to me that there are two challenges around “what digital really means for the industry”. The first challenge relates to opportunities presented by technology, which range from the mundane (such as good old fashioned ‘Straight Though Processing’ and even the application of newer more exciting mobile technologies in customer engagement) through to the extreme (such as new device enabled propositions and business models fueled by the Internet of Things). This is the “what?” challenge, the one that we hear most about and the one that we can articulate the best. It’s tangible. You can see it. You can experience it. You can recognize what others are doing that you are not. There is no mystery around this challenge and you can build a program of change to address it. The second challenge is a more subtle one. It is “as old as them thar hills” and can be aptly summed up by the saying “You can take a horse to water but you can’t make it drink”. It’s also one that this industry, as well as others to be fair, have been struggling with every time there is a step-change in pace and direction. If you know where you need to head to, bringing the rest of the organization along with you is the next big challenge, especially when you’re a large and complex one. This is the challenge of “How?”. When discussing the topic with one insurer, he shared with me his view that “digital” is merely a term used to get his team to think differently about the way things are done. To stop his team thinking about the way they do things today and start thinking about what could be instead. For me, this was a refreshingly honest perspective. It was not about the devices, the technology or the Apps, it was about re-envisioning his business. To achieve this takes great leadership and mustering support around a shared vision. This brings me back to the title of this blog. Stan Laurel couldn’t have said it better (or maybe worse?) in “Way out West” … “You can lead a horse to water, but a pencil must be led”. Maybe now is the time to move the debate on to talk more about the “pencils” and the vital role that leadership has to play in addressing successful Digital Transformation? I’d be interested to hear your views about where the challenges around digital really lie for you.

Is the insurance industry facing a Cyber-Cat? Thousands of websites at risk to heartbleed bug…

Is the insurance industry facing a Cyber-Cat? Thousands of websites at risk to heartbleed bug…
No no – I’m not referring to an animated cat on an App but rather the announcement yesterday regarding the Heartbleed bug affecting the security of over 50% of the Internet according to some estimates. The bug affects the OpenSSL package and is believed to have been in the package since 2011. It affects the way the package deals with heart beat messages, hence the moniker given to the bug. There are already tools in use that exploit the bug and provide access to recent user data on compromised servers. There have been security alerts before with many large brands facing fines and media inquiries about their losses but this bug potentially affects hundreds of thousands of websites and many businesses globally, but why characterise this as a catastrophe and why would insurers be interested? In the last 2 to 3 years with the cost of data breaches growing significantly businesses have been offsetting the risk of a breach or loss through Cyber Liability Insurance Covers. Whilst the practice and cover is arguably in it’s infancy it’s popularity suggests that this sort of event could constitute a significant liability to insurers globally offering this cover. Further the event has some characteristics in common with other events requiring catastrophe response:
  • Many insured are at risk.
  • The event will likely draw the attention of governments and regulators.
  • Swift response will mitigate further loss.
There are some significant differences here though. Most notably in the event of hail, storm or flooding the insured are likely aware if their assets are affected or not – they may not know the extent of the loss but are likely aware if they need to claim. Increasingly risk aggregation and modelling tools are helping carriers and brokers understand the likely impact of catastrophe events. In this case however the insured may not be aware if they are compromised or not since the bug allowed for intrusions that would not be logged by the affected systems. In this case the advice is to determine if OpenSSL is used and if so then the server has been vulnerable, may have been compromised and should be patched immediately. The full statement regarding the bug is available at http://heartbleed.com/ although it is also covered at http://blog.fox-it.com/2014/04/08/openssl-heartbleed-bug-live-blog/ which contains some useful advice. Further coverage is available from Reuters and The Guardian. As noted on heartbleed.com – Apache and NGinx webservers are known to typically use the OpenSSL library and account for 66% of the Internet according to Netcraft’s April 2014 Web Server Survey. Google says that it is not affected however Yahoo has already reported that they are working to fix the affected services on their side. As always communication and collaboration is crucial to managing these events. Insurer clients of Celent may like to read Celent’s case study combining internal and external data to respond to a catastrophe.

Model Insurer Asia Summit: A quick overview

Model Insurer Asia Summit: A quick overview
Earlier this month, I attended the Model Insurer Asia Summit at the Fullerton Hotel in Singapore.  With approximately 50 delegates from across the APAC region, it was a fantastic event to learn from others, debate the key issues facing the industry, and network across the region. A total of 18 firms were recognised this year from over 8 countries, with entries ranging from large regional technology transformations through to novel uses of technology to enable propositions. Tokio Marine presented just one such novel use of technology to enable a proposition where an app-based avatar is employed to provide health advice for women based upon how their body is feeling in support of a health insurance product.  This solution goes as far to include tracking the insured’s body temperature using a smartphone and a connected thermometer in order to identify when they may be coming down with an illness.  I just love this idea!  After talking about the potential for personal telemetry within the health insurance sector for several years now within Celent, it’s great to see a live proposition racing towards it.  Since its launch in June 2013, Tokio Marine has added 250,000 users already. The overall Model Insurer Asia winner was awarded to Max Bupa Health Insurance (MBHI) from India.  Being a relatively new player in India at around four years old, MBHI had aggressive plans to launch new distribution channels whilst not losing sight of delivering an excellent customer service experience. It chose to implement a BPM solution to wrap around its existing applications, enabling it to deliver a consistent end-to-end process that achieved a 75% increase in processing capacity and 90% improvement in service level agreements.  This is a great example of how, when applied effectively, technology can truly deliver a differential business performance. To find out more about these (and the 16 other finalists), a copy of the Model Insurer Asia report can be downloaded by Celent clients at http://www.celent.com/reports/celent-model-insurer-asia-2014-case-studies-effective-technology-use-insurance. Finally, this year, we sandwiched the summit between two roundtable discussions: one on the use of digital and ‘big data’ to enable innovation in insurance; and the other one on regional distribution opportunities and challenges.  Round-table discussions of this nature are always a great way to get detailed insights around the main challenges facing firms quickly.  Unfortunately, I can’t share too much as they’re closed sessions and “what’s said in the room, stays in the room”.  However, what I can share with you is that many of the opportunities and challenges facing individual firms across the Asian region are shared with insurers from around the world.  There is a growing desire to provide a more engaging proposition with the end client, a need to secure new forms of distribution, and an acceptance that effective technology is at the heart of future business performance.  Sound familiar?  That said, unlike perhaps some other geographic regions, regional diversity in distribution, regulation, population prosperity, language, character set, and political goals, make it more difficult for insurers, vendors and SIs / consultancies to navigate with a ‘one size fits all’ policy.  It’s this diversity coupled together with the regional growth rates for emerging financial services that make the region one of the most fascinating to follow and one that we expect to see a lot more innovation come out over the coming decade.

A Recipe for Digital Innovation

A Recipe for Digital Innovation
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 @amcafee offers some help. Their explanation of digital innovation made a big impression on me as the clearest description that I have found so far.  The approach is simple: “digital information….is built on multiple layers”. It is a “recipe” of different automation solutions mixed together. That is, look at a list of digital technologies, pick a few and combine them in unique ways so that they work together, and deliver new value. This description led me to revisit some Celent insurance innovation case studies and rethink how to best explain them.  The first, the AXA claims example (Visualizing the London Riots at AXA UK, http://www.celent.com/reports/visualising-london-riots-axa-uk), outlined how the insurer combined data from public police records, media reports, and their internal systems to predict which of their insureds might suffer a loss during the multi-day rioting in the U.K. in 2011. AXA “layered” successive sources of digital data, then added some analytic algorithms to produce a new and valuable tool designed to proactively identify at-risk insureds (mainly small businesses that were exposed to looting). All of these technologies existed on their own, in isolation, until they were combined to yield new insights which helped avoid losses. The second study is from Tokio Marine & Nichido Fire Insurance Co., Ltd. They were recognized as a Celent Model Insurer for their One Time Insurance product (Model Insurer 2012: Case Studies of Effective Technology Use in Insurance http://www.celent.com/reports/model-insurer-2012-case-studies-effective-technology-use-insurance). They combined geo-location, text messaging, and data prefill services to deliver real-time insurance offers to subscribers. As a prospect drives to the airport, their mobile phone receives a text from the insurer with an offer for travel insurance. Similarly, texts are sent as golfers arrive for their tee times, skiers approach the lifts, etc. It is the combination, or layering, of these technologies in a unique manner that creates the innovative service. The value of this explanation is not only academic. Layering strikes me as a useful tool to explain how all of this “digital stuff” can fit together. The recipe and layering metaphors succinctly describe digital in non-technical, accessible terms. It can be used with any audience to illustrate how the sum of the parts can be greater than the whole. I also see value in using layering to generate new ideas. My thought is that, in an interactive session, a group of participants can create a list of technologies, data sources, etc. and then brainstorm different combinations from them. Our continuing research illustrates that there is no one prescription for innovation, but there are guideposts to follow.  The use of the layering metaphor to improve communication and as a technique for brainstorming is one such guide.

Customer segmentation, fad or future?

Customer segmentation, fad or future?
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 to move from their traditional top notch markets and be able to create an offering to attract the different segments. Some of these moves include Microinsurance targeting people in the base of the pyramid and Small and Medium Business (SMB) insurance products. Microinsurance products are being launched almost every month in different parts of Latin America. Most recently it was announced that Asomi and Redcamif will be launching an initiative in El Salvador with life insurance policies written by Pan American Life Insurance Group (Palig) with premiums as low as $0,68 per month. Some brokers, large ones, are moving into the SMB market but using its affinity platforms instead of their commercial platforms to support this business. While originally SMB should have fallen into commercial, they realize that it requires processes and the agility expected also in their affinity business. In another interesting move, Metlife Mexico announced yesterday the creation of a new division that will sell to socio economic segments C and D and to young people, those that are not the usual target of insurers. According to the classifications developed by AMAI, a Mexican association, the country’s population is divided into five segments: AB (people with high purchasing power and income), C+ (people with higher-than-average incomes, whose families are headed by someone with a college degree and have at least two cars), C (people with middle incomes, whose families are headed by someone with a high school degree and have both a car and the ability to take one trip per year), D+ (people with incomes slightly below average, some secondary education and no family vehicle), D (people with low income levels and a fairly austere way of existence, who have a primary school education and who lack access to traditional banking services). Metlife Mexico will be offering simple and flexible products while also developing better distribution channels, with emphasis in the use of technology. Software vendors are coming in also to provide solutions towards being more granular. Solutions around analytics to better understand your customer, digital to better serve them and master the points of contact, core processing and BPM to adjust your products and processes accordingly, just to mention a few. Last year Guidewire presented its vision on how a core system will be able to support customer segmentation already delivering some required functionality. Core systems are just another gear in the engine and it’s important that vendors acknowledge how they need to integrate into other solutions for the insurer to be able to deliver a customer segmented value proposition. While I believe customer segmentation is where the industry needs to go, it is not without huge challenges. Insurers need to address the differences and purchase attitudes of those different segments.  Omni-channel is one of the aspects, but also dealing with channel conflicts and regulation. Products need to be tailored in a way that can be flexible but capable of scaling massively, and this means looking into pricing, packaging, marketing, distribution and servicing. Processes need to be adjusted in order to provide the correct value to each segment. At the end of the day you don’t want to be perceived as under-performing and not providing the required value, but neither you want to over deliver if this means excess of cost and important cuts in your margins. My final thoughts for you. How will your structure look as you move into serving segments? How will this affect reporting and statistics by the way, which today is seen by line of business (even by regulators)? Are you ready? Are we ready?

Insurers Can Learn from Facebook’s Digital Awareness

Insurers Can Learn from Facebook’s Digital Awareness

This is the second blog post aimed at discussing the opportunities for digital technologyin insurance within the framework of a higher design principle, one that is not technology-led, but speaks to delivering value for consumers of insurance (both individuals and businesses). The tenth anniversary of Facebook is an appropriate date to pass along this next installment.

Why? Because Facebook illustrates the difference between a narrow, technology-focused and a broad, solution-based design principle.  If Facebook had been trying to only deliver digital content on the web (a tech-focused approach), it would still be only a posting site.  However, with its introduction of the News Feed feature, it moved into the Awareness realm.  It went from “look what I have been doing and I’ll look at your posts too” to a proposition “I want to be aware of what my network is looking at because I’ll probably be interested too”.

This shift reflects the key design principles of the Awareness approach:

  • Passivity of user  – minimal or no user action to initiate Awareness (FB: don’t make the user look for news, deliver it to them when they sign on)
  • Pattern recognition determines activity and records preferences (FB: monitor what are friends doing and match that to the user’s interests)
  • Always on capability (FB: continually monitor activity and make it available when the user accesses the site)
  • Allows user to choose to “manage and/or turn off monitoring” when desired (FB: I wouldn’t identify this a strength to the platform so far)

Applying Awareness to insurance, I would add two additional key design principles:

  • Signal when a deviation from normal activity occurs using data analytics
  • Provide a user’s current and past location(s)
The objective of Awareness design in insurance is to prevent the unintentional retention of risk by continually allowing the insurer to be aware of the changing risk profile of an insured. It uses predictive capability to match data collected (at a very specific level of detail) with the external environment, and identifies changed and/or new risks faced by a person or business. It then delivers this analysis to the insured in a preferred format (text, post, email, phone call, etc.)

In my last posting on Awareness, I described a commercial insurance example (http://insuranceblog.celent.com/2014/01/stop-designing-to-be-a-digital-insurer-use-a-business-value-proposition/) .

Another example in health insurance involves continuous monitoring of an insured using their smartphone.  If any one of several key biofeedback measures begins to register out of a normal range, the insured receives a text to schedule a doctor visit.  The insurer is constantly aware of the health of the insured and takes proactive steps to intervene appropriately when needed.

Does this sound like Star Trek? Something we should be able to do in the future?  A company called Tokio Marine Nichido launched such a product in Japan last summer (June 2012). The insurance policy provides a reimbursement ranging from $50 to $300 for the visit based on the final diagnosis.

 As I mentioned in my earlier post, I am confident that we are ready to design digital solutions which change insurance from a backward-facing, financial indemnity product to a continuous, predictive, risk management service. I’d appreciate your views, either in reply on this blog, or you can reach me at mfitzgerald@celent.com

Stop Designing to be a Digital Insurer; Use a Business Value Proposition

Stop Designing to be a Digital Insurer; Use a Business Value Proposition
So much has been written about social, mobile, analytics, cloud (SMAC, previously SOLOMO). Insurers are encouraged to be “digital”. It appears to me that most of these efforts are “technology searching for a solution to solve.” I was lucky enough to be listening to my mentor once when he told me “Don’t ever start designing a solution with specific technology, begin with the business problem/opportunity.” One of my expectations for 2014, is that we can start discussing our opportunities in the framework of a higher design principle, one that is not technology-led, but speaks to delivering value for consumers of insurance (both individuals and businesses). By the end of the year, I hope to have had some great back-and-forths on what these principles could be. To start the dialog, I suggest that we start designing our solutions to increase Awareness, helping insurers, customers and agents become more aware of the risks faced by their policyholders and how initiating actions when risks change. To paint the picture, I’ll start with what Awareness looks like in insurance. Then I’ll describe how I think this can lead to higher value solutions as compared with starting with specific technolog(ies). Here are two examples from the Celent research library on innovation in insurance that tell the story of how the Awareness principle has been applied. One is live and one is a past implementation:
  • Tokio Marine & Nichido partners with a telecommunications firm to deliver location awareness for their one day insurance products. If I drive to the airport, I receive a text on my phone with an offer for trip insurance.  If I am approaching a ski area, I get a message that ski event insurance can be bought for one day for as low as $4.00. If I work at the airport or ski employee, I don’t receive the texts after the first few – the system learns that I am not a prospect. Based on location awareness, Tokio Marine is Aware that I am engaging in an activity that is not part of my typical day-to-day routine, one for which I may not be covered, and offers me a policy to cover the gap at the right time.
  • In the United Kingdom, the insurer AXA combined several pieces of public data with their internal policyholder information and created a visual map of where the London riots occurred on the morning after each of the five nights of the 2011 riots. They could tell by looking at the map which of their policyholders (mostly small retail businesses) were located in the affected areas. For those that had not reported a claim, they called them to make sure that everything was alright – NOTE: the insurer called the insured to ask if they had a loss. AXA reversed the traditional FNOL (first notice of loss) process and proactively contacted their policyholders based on this Awareness of the increased risk of their customers.
In an Aware Insurer, the process is engineered to be continuous. For example, data tools allow automated monitoring of the inventory of small business policyholders to detect changes in purchasing patterns and it is discovered that a general contractor begins to purchase roofing materials. Predictive analytics examines these changes and assigns a confidence sore regarding if this is a one-off event or more permanent change — has the contractor started delivering roofing services? Automated rules compare the inforce policy coverage with the possible new operations to determine if the contractor is performing an excluded operation that is not covered for liability loss. Digital technology then notifies the insured of this situation immediately across several technical platforms and suggest coverage options, or sends an immediate notification to the agent and prioritize is appropriately in his/her work queue. The technologies underneath Awareness include digital, analytics, cloud, perhaps some social, but these are not the “end state”. Digital should deliver unprecedented awareness anywhere any place; big data infrastructure should combine varied types and, likely, large amounts of data effectively and efficiently; analytics (algorithms) should mold this data into new insights and predictions. So, does an insurer need to be digital to make this happen? Yes. Have big data skills? Definitely. Be able to conceive, construct and test analytic algorithms? Definitely. But being a “digital insurer” won’t itself deliver this increased awareness, being able to hoover up and handle vast amounts of purchasing data won’t either.  Combining the different forces around making the insured, agent, and company more aware when a risk profile changes will bring the technologies together to solve a business problem.

I’m convinced that starting from this higher order of design will deliver more value faster, will help get business sponsors on board earlier and more completely and will avoid investment in technology for technology’s sake.  As we enter 2014 I am also sure that we are ready to have this conversation and design solutions what change insurance from a backward-facing, financial indemnity product to a continuous, predictive, risk management service.

Celent Predictions for 2014

Celent Predictions for 2014
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 importance and evolution of digital
  • The rise of the robots, the sensor swarm and the Internet of Things
  • An eye to the basics
The first topic area is labelled digital but encompasses novel use of technology, user interfaces, evolving interaction, social interaction (enabled by technology) and ye olde customer centricity. Celent predicts vendors would market core systems as customer centric again, but this time meaning digital customer centricity. Celent expects to see core system user interfaces to acquire more social features along with a deeper investment in user interfaces leveraging voice, gesture, expression and eye movements. A specific digital UI example was the wide spread adjustment of auto damage claims (almost) entirely done through photos. In addition, gamification use for both policyholders and brokers will be adopted or increase in use for those early adopters. Celent further predicts greater investment in digital and that comprehensive digitisation projects would start to drive most of the attention and budgets of IT. The second topic I’ve called Robots and Sensors, while digital there is a significant amount of attention and specificity. The merger or evolution of the Internet with the Internet of Things accelerates with devices contributing ever more data. Celent predicts this rise of the Internet of Things or the sensor swarm, will push usage based insurance policies to other lines of business, not just telematics based auto policies that UBI is currently synonymous with. Celent further predicts that the quantified self movement and humans with sensors will in 2014 yield the first potentially disruptive business model for health insurance using this data. As an aside the increasing use of automation, robotics and AI will see broader adoption in the insurance industry. For those reading my tweets, Celent predicts 2014 will see drones used for commercial purposes. I hope we won’t have the need, but wonder if we’ll see drones rather helicopters capturing information about crisis stricken regions in 2014. The final topic I’ve called the basics. Celent predicts insurers will continue to focus heavily on improving performance of the core business – a good counterbalance to the hype around digital and a good pointer to where to focus digitisation efforts. At Celent we have noted a pragmatic interest in the cloud from insurers and we predict increasing complexity in hybrid cloud models, to the benefit of the industry. A little tongue in cheek but finally, Celent suggests that industry will finally find a business case for insurers adopting big data outside of UBI. Avid readers of the blog will be happy to see we haven’t predicted an apocalypse for 2014.   A special thanks to Jamie Macgregor, Juan Mazzini, Donald Light and Jamie Bisker for their contributions.  

Digital Insurance and the Customer: Mind the Gap!

Digital Insurance and the Customer: Mind the Gap!

Let’s play Jeopardy together! If the most frequently given answer from a panel of insurance customers is “Don’t know,” what was the question?

It was: “Which UK insurer do you think is the most innovative?”

For those who think that is an exaggeration of the common opinion that the insurance industry is not innovative at all, let me tell you that the second most frequently given answer was “None.”

As Jo Hind – Industry Head, Finance at Google – explained during the first presentation of the Digital Insurance and the Customer: Mind the Gap! event Celent organized in collaboration with Google, the pace of change is accelerating. More and more people are using digital communication means to get information about financial products, including insurance policies, and among others mobile devices are getting great traction. To pave the ground for the rest of the event, Jo left the audience with simple but relevant questions to insurers: How important is mobile to the insurance business? Are insurers optimizing and planning for the four-screen world (computers, TVs, pads, and smartphones)? How can insurers engage better with their customers? Are products offered by insurers meeting consumer expectations?

When Craig Beattie followed Jo’ s final interrogations with the Celent views on the customer, Google, and UK car insurance based on research he and Catherine Stagg-Macey published recently, we – in the audience – could not anticipate that the phlegmatic British analyst would provide the audience with such an insightful and dynamic analysis of the reasons for and consequences of the changing behaviour of insurance online shoppers. After this moment of brilliance, it was time for people to take their breath and enjoy the networking break to exchange about what had just been exposed to them by Google and Celent.

The audience had opportunities to share their thoughts during the discussion panel session which ended the whole event. Ian Morgan – Industry Leader Financial Services at Google – moderated the session, which saw Jem Eskenazi – CIO of Groupama Insurances, Ollie Holden – Solution Delivery Director at LV=, Catherine Stagg-Macey – Head of EMEA Celent insurance, and Jo Hind debate about mobile and digital insurance predictions. The audience was asked to provide its opinion on these predictions before they were discussed in more detail with the panelists.

Let’s play Jeopardy again! What question related to the Celent event summarized above will result in the following answer? “Certainly.” It is: “Are insurers who were present in the audience going to view digital insurance and the customer differently from now on?”