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Posts Tagged ‘technology’

Data initiatives abound in the insurance industry. Most carriers have some type of data initiative in place. They focus their efforts on implementing reporting tools, analytic tools, and repositories — with all the tools that go with them.   Data governance, on the other hand, is an emerging discipline. The discipline includes a focus on […]

Aug 12th, 2014 | Filed under Insurance, IT

Kathleen Sebelius resigned on Monday, and I’m betting that she is hoping that her next role does not include a major IT project.  As Secretary of the Department of Health and Human Services (HHS), Sebelius was responsible for overseeing the rollout of the troubled healthcare.gov website whose launch was tainted by serious technical problems.  Initially […]

Apr 16th, 2014 | Filed under Insurance, IT

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 […]

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 […]

Dec 20th, 2013 | Filed under Insurance, IT, Market Trends, Strategy

Insurers and vendors met in London to discuss insurance technology on the 24th and 25th of September this year. The audience mostly consisted of those with an interest in the London market and Lloyds although there were representatives from general insurers in the UK too. I was glad to see that the tone of the […]

Sep 27th, 2013 | Filed under Insurance, IT, Market Trends

Microinsurance is referred to the type of insurance that aims to the base of the pyramid (BoP) population, generally those ignored by mainstream commercial and social insurance schemes. It emphasizes the importance of understanding the needs, preferences and characteristics of this target group: the low-income household, the working poor and the under-served. Microinsurance has the potential to play […]

Mar 21st, 2013 | Filed under Emerging Markets, Innovation, Insurance, IT, Market Trends, Strategy

I’m guessing that somewhere in your strategy documentation will be an objective that states that you will succeed as an insurance company through ‘being innovative’. It may be presented up-front as a bold strategic theme or it may be hidden deep down in the depths of a key initiative. I’m also guessing that, for many of you, […]

Feb 12th, 2013 | Filed under Innovation, Insurance

Most cultures reward and encourage success. Growing up, we learn quickly to highlight our brilliance and down play our mistakes. The corporate world we operate in only reinforces that. Do you remember how many times you had to fall off your bike before you could ride it successfully? You had to fail before you got […]

Jan 28th, 2013 | Filed under Innovation, Insurance, Strategy

Once again, Celent has teamed up with the Insurance Times for the 2012 Technology in Insurance Awards. These awards are the only dedicated insurance technology awards in the United Kingdom for general insurance. Last year’s awards were a huge success in recognising some terrific successes in our industry. We had 140 people attend a cocktail […]

Apr 12th, 2012 | Filed under Insurance, IT, Market Trends

My colleague Jamie Macgregor and I have published the Celent’s regular report profiling policy administration system (PAS) vendors in the life and pension space in Europe Middle East and Africa (EMEA) back in November 2011. This report profiles 34 systems offered to EMEA insurers on the market. Beside this research we thought it would be […]

Feb 13th, 2012 | Filed under Insurance, IT, Market Trends, Vendors