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Posts Tagged ‘Innovation’

At the National Underwriter Executive Conference last week, a member of the Board of Directors at one of the largest life insurers in the world warned insurers: “Don’t let what happened to the taxi industry happen to us. Taxis thought regulation would protect them and you see where that got them. We can’t allow ourselves […]

Dec 11th, 2014 | Filed under Uncategorized

One of the common behaviors of successful innovative companies is establishing creative partnership arrangements. These relationships are not traditional supplier/buyer arrangements (zero sum games) but are mutual agreements that combine deep subject matter expertise and new technical capabilities to produce unique and valuable solutions. I witnessed an event this past week that demonstrated partnership-building in […]

Dec 8th, 2014 | Filed under Uncategorized

“If the regulators aren’t with you, expect insurance innovation to take longer and cost more.” This comment surfaces repeatedly in Celent’s research. We believe this is true and have seen this occur in the past (credit scoring, predictive analytics, telematics). In order to address this issue, we at Celent have begun to proactively engage regulators […]

Nov 24th, 2014 | Filed under Uncategorized

Innovation is not witchcraft but, when done successfully, there is a touch of magic. The magic happens when innovation becomes “part of the way we do things around here” (read: corporate culture). When people across the firm approach their jobs constantly through the lens of “how do I change my job so that I deliver […]

Oct 29th, 2014 | Filed under Uncategorized

Innovation is all about building prototypes, making them fail, adjusting them, and moving on quickly. So, what is the prototype for the successful senior innovation leader? How can this profile be used to make better selections when hiring for these critical positions? Continuing the Celent innovation research theme of how to make innovation work, we […]

Oct 21st, 2014 | Filed under Uncategorized

Her is a 2013 American science fiction romantic comedy-drama film written, directed, and produced by Spike Jonze. The film follows Theodore Twombly (Joaquin Phoenix), a man who develops a relationship with Samantha (Scarlett Johansson), an intelligent computer operating system personified through a female voice. Jonze conceived the idea in the early 2000s after reading an […]

Oct 9th, 2014 | Filed under Innovation, Insurance, Market Trends, Uncategorized

The announcement yesterday that MassMutual has set up its own fund to invest in innovations that may/will affect life insurers is another move demonstrating how real money is being bet on disruption. Here is the link to their press release site: http://www.massmutual.com/aboutmassmutual/newscenter/pressreleases Celent is aware of several organizations which have set up similar funds. These […]

Jul 25th, 2014 | Filed under Innovation, Insurance

The announcement today (http://www-03.ibm.com/press/us/en/pressrelease/44431.wss ) of the use of IBM’s Watson platform by USAA demonstrates several of the current research themes at Celent. The move is an excellent case of innovation at the intersection of brand, risk management and technology. First and foremost, this is another example where USAA is delivering on its brand promise – to improve […]

Jul 23rd, 2014 | Filed under Innovation, Insurance

They said it couldn’t be done, but we held the latest installment in Celent’s series of innovation roundtables in Tokyo recently. Our innovation roundtables put the focus squarely on interactive discussion among the participants. This is a relatively untried model in Japan, where events typically take the form of conventional conferences with presentations. We’re glad […]

May 15th, 2014 | Filed under Insurance

In a 2013 survey in Latin America we asked CIOs about their views on the use of Telematics and UBI. We wanted to know if these were currently in their plans and if they believed that they would have any use and impact by 2016. Despite UBI and the use of Telematics has been well […]

May 2nd, 2014 | Filed under Innovation, Insurance, IT, Market Trends, Vendors