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5 Stories That Rocked The Insurance Technology Industry in 2012

Everyone knows what the No. 1 insurance story was this year, but there were a number of other events or trends that emerged in 2012 that will ripple through 2013 and beyond.
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5. Insurers Become Innovators

It wasn't all bad news for insurance companies in 2012, however. This year, all the hard work technologists have done over the past several years paid off with insurance being recognized in information technology circles as one of the most innovative industries around. Nearly a tenth of InformationWeek's 500 list was insurance companies, and editor-in-chief Rob Preston said the industry is "moving to the front of the pack." Further, SMA's Deb Smallwood, wrote that "insurance innovation is indeed happening, the pace is picking up, and next-gen technologies are an important part of the whole picture." This year saw advances in usage-based insurance, mobile capabilities for policyholders and producers, and customer experience that provide a solid foundation for insurers to build on.

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio

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Melanie Rodier
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Melanie Rodier,
User Rank: Apprentice
12/19/2012 | 5:28:11 PM
re: 5 Stories That Rocked The Insurance Technology Industry in 2012
The Progressive story is a fascinating lesson for companies across all industries. Social media has transformed the way firms need to work with, and respond to their clients. If they don't adapt quickly and intelligently, the consequences for their future can be devastating.
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