- Where Insurance & Technology Meet

Digital Insurance: What, Why, and How

‘Digital insurance’ is a hot topic within the P&C community. At a high level, consultants and practitioners can rapidly agree on the importance of ‘digitalization’. However, when we start developing and implementing a business case, definitions of the strategies and tasks get a bit murky. Two recent articles help focus on critical criteria. Why do Digital… Read more »

The New Work Paradigm: Stairway to Heaven or Race to the Bottom?

Back in June, I confessed that, as a technology professional, I had been ‘economical’ with the truth about the impact new technology would have on employees.  Some anlaytsts suggest we are finding a path to a better future, but others see a slippery slope to an unpleasantly warmer place. I’d appreciate your thoughts. Transforming work?… Read more »

Who is Driving the Digital Customer Experience?

For the last two decades or so, insurers and brokers have focused on internal systems and processes in order to improve efficiencies for underwriting, claims, and client service. Marketing had little involvement. The model is changing, with marketers leveraging technology to  drive the agenda for customer interaction, with  interesting implications for the whole enterprise.  The 13th annual… Read more »

What Happens When Consumers Know More Than We Do?

A colleague of ours was recently bemoaning the lack of interest that insurers and brokers are taking in new developments such as social and usage-based insurance.  Our friend suggested that without a working knowledge of operational tools, such as social media, and technologies such as  telematics, we’re falling behind our customers and won’t be able… Read more »

The Road To 2023 Is Paved With Data, Analytics, and Good Stories

Of all the trends identified by the Insurance 2023 Group, Data and Analytics were the two that permeated most of the discussion.  It is clear the insurance engine is fueled by data and guided by analytics.  On this basis, the results of any insurance organization is only as powerful as its data are rich; and… Read more »

Insurance Marketing 2023: Is A ‘Minority Report’ Scenario Different Than What Brokers Do Now?

In 2023, will insurance ‘marketing’ include a capability for consumers to provide data directly and through sensors to allow insurance representatives to detect new or changed insurance requirements and modify insurance programs dynamically? If so, is this really different than what happens now? ‘Smarter Marketing’  On her blog, Forrester Senior Analyst Sarah Rotman Epps points… Read more »

Mobile: Is There An App for Core Sytems Replacement?

It is patently obvious that mobile technologies – including smartphones and tablets – are becoming increasingly useful tools.  As a result, a number of insurers have undertaken initiatives to extend selected functions – finding an agent/broker, getting a quote, reporting a claim to mobile devices.  What is less obvious is that mobile is entering the… Read more »

Broker/Carrier Technology Relationships: Ships in the Night, or All Row Together

In a recent editorial in PropertyCasualty360, Ellen Carney, a senior analyst with Forrester, asked ‘In dealing with carriers, do agents feel like they are on their own when it comes to technology issues?’  This is a fundamental question, still relevant since it was first posed over 40 years ago. ACORD in the US has just… Read more »

Business Driven Modern Technology – Removing the Fog from Cloud Computing

It has become fashionable in some insurance circles to relegate Cloud Computing to a technology in search of a solution.  This might be premature dismissal of an approach which could offer significant business benefits. In a recent blog post, Celent’s Ben Moreland says that people who focus solely on the technology miss the point.  While… Read more »