Posts Tagged ‘Insurance’

I have attended various conferences on innovation over the past few years. In almost all of them futurologists of all kinds and innovation experts who are invited to present tend to use the same examples, such as Uber and AirBnB, to describe how new business models can disrupt an industry. The message to insurers is […]

Oct 27th, 2015 | Filed under Innovation, Insurance

Celent will soon be publishing an update to our 2013 report Perceptions and Misconceptions of Big Data in Insurance. In this report we looked at various elements in relation to the role and perception of data in insurance to understand where the industry was in terms of adoption of data-related technologies and more particularly Big Data. […]

Oct 23rd, 2015 | Filed under Big Data, Insurance

The fintech ecosystem has been evolving and maturing in Latin America for the last three years mainly due to the effort of some participants, including Celent, to connect all key players of the fintech ecosystem. Unlike the USA where there are geographical pockets of Innovation, as Silicon Valley, that brings the actors together based on […]

Solvency II – the European Union prudential capital regulation – will come in to effect in January 2016 after more than a decade of preparation. For many European insurers it means they are reaching the end of the long road of deep preparation but others have already turned their preoccupations in other directions. For instance […]

Oct 5th, 2015 | Filed under Insurance, Regulation

Here’s a thought experiment. Imagine that you manufacture some things – let’s call them automobiles. And imagine that in those automobiles you’ve installed bunches of computer systems to control steering, braking, transmission, engine performance, and even record GPS-determined locations. Let’s call these computer systems electronic control units (ECUs). And imagine that these ECUs generate streams […]

Sep 24th, 2015 | Filed under Innovation, Insurance, Strategy, Uncategorized

As many of you know, the latest buzzword is FinTech. Considerable money is coming to vendors that are attempting to define the next major technological leap in financial services. This chart, from CB Insights, shows the explosive growth in FinTech investments. It is an exciting time. What I find interesting is that Private Equity firms […]

Sep 16th, 2015 | Filed under FinTech, Insurance, M&A

Celent and Asia Insurance Review hosted the 5th Asia Insurance Technology Awards (AITAs) at AIR’s CIO Technology Summit at Le Meridien Hotel Jakarta on 1 September 2015. The AITAs recognize excellence and innovation in the use of technology within the insurance industry. This year we received over 30 nominations from Australia, Hong Kong, Taiwan, India, […]

Some of you may remember my post this spring about the breach of my family’s information by a major health insurer. I think about that a lot, as I am sure many of you do as well. It feels like we read about another major hack on a daily basis. We now have major governments […]

Aug 27th, 2015 | Filed under Insurance, security

Most carriers in North America work with independent agents. Although the majority of premium for personal lines is written direct, that is largely concentrated in a few large carriers. Carriers who use independent agents know that high production from agents is correlated with strong relationships. However, beyond encouraging a strong personal relationship with an underwriter, […]

Jul 20th, 2015 | Filed under Insurance, Marketing

On Monday, I was asked to present at a UBS conference for investors on technology disruption facing the industry. It was far from Celent’s usual audience of business leaders and technologists, and as a result the questions being asked were quite different, sometimes challenging, however refreshing at the same time. One of the most interesting […]

Jul 17th, 2015 | Filed under Market Trends, Regulation, Strategy