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Posts Tagged ‘Innovation’

Earlier this week some users of the Wink smart home hub found that their smart home hub was more useful as a door stop or brick than as a hub. A fix is being worked on and rolled out to customers but for me this looks like the teething problems of the still nascent Internet […]

Apr 23rd, 2015 | Filed under Innovation, Insurance, IT, Market Trends, Uncategorized

Shocking results in J.D. Power’s 2015 U.S.Tech Choice Study released today – consumers want crash avoidance technology and are willing to pay for it! We discovered a similar view in our recent Celent report Targeting Innovation: How Your Customers Might Respond. The data pointed to the fact that consumers want to see innovation in service […]

Apr 22nd, 2015 | Filed under Insurance, Market Trends

Bold words, perhaps. Transform the industry? It just might. If you did not see the announcement, you can learn more about the program at the John Hancock Vitality website. If you participate in their program, you can receive rewards and premium savings. The program rewards healthy activity, regular exercise, regular checkups and even reading about […]

Apr 10th, 2015 | Filed under Insurance, Market Trends

I’ve had the opportunity to work alongside commercial property insurance underwriters. This is a very unique group – extremely detail-oriented, whip smart, very black and white, but not given to back-slapping humor or ironic observation. So, when one used the phrase “What we need is a good catastrophe”, it really made an impression on me. […]

Jan 9th, 2015 | Filed under Uncategorized

The opportunities and threats facing the insurance industry are forcing a change in the conversation around innovation in the sector. Celent has been tracking innovation in financial services for the last 18 months and we have detected a recent shift in interest. In 2014, insurers were exploring why they might need to invest in disciplined […]

Jan 6th, 2015 | Filed under Innovation, Insurance

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