In order to remain profitable, productive and competitive, insurers have seen the need to develop mobile capabilities to meet rapidly changing customer expectations.
The potential benefits of automated systems for new business and underwriting – in terms of speed, accuracy, cost reduction and improved service – make for a compelling value proposition.
Peter Settel, CIO of Homesite Insurance, says that HTML5 is making insurers think hard about whether a native app or mobile website experience is best for their mobile initiatives.
Information as a Game Changer: Actuarial Analytics — Score Keeping, or Trusted Advice?May 10, 2013There is a great opportunity to more effectively utilize actuaries’ advanced analytics and modelling expertise, and thereby change actuaries’ role from scorekeeping to one in which they create a significant, information-driven competitive advantage for the organization.
Realizing Insurance IT Value Requires New Tools, New MindsetFebruary 12, 2013Insurers typically spend three to five percent of their revenue on IT, but they spend only a very small fraction of that on determining if they are maximizing their investment. That needs to change.
The Future of Auto Insurance — A ReplyJanuary 10, 2013"On-board" technologies are not the only ones insurers need to consider as having the potential to reduce auto premium, insists Celent's Donald Light.
The Reshaping of Auto InsuranceJanuary 08, 2013Strong forces that stand to reshape the sector include shifts to new types of coverage, alternative distribution channels, and redefined customer segments.
Data Pays Off For Life Insurers, Analysts SayDecember 05, 2012Accenture's global consumer survey finds life insurers lead other industries in providing a tailored experience for their customers — on the heels of a PwC report identifying "information advantage" as a game-changer in the line of business.
Keeping the Customer: Analytics Driven Acquisition and RetentionOctober 03, 2012Analytics that focus on acquisition and retention can help insurers increase market share — without sacrificing profitability — by managing the return on acquisition and retention spend among and within marketing, distribution and service.
What Revived Telematics in the UK?August 17, 2012Aviva recently announced a new initiative that uses consumers' own mobile phones to gather driving data four years after it ditched usage-based insurance due to lack of interest. PwC UK's Jonathan Burdett tells I&T why the time was right to re-enter the bu
6 Distribution Forces To Power International ExpansionAugust 15, 2012Insurers should take a more local, less regional view of key elements in external markets, such as per capita income, computer ownership and broadband access, when seeking to identify opportunities.
3 Components of a Winning Analytics StrategyAugust 03, 2012While insurers typically have viewed information as an enabler for streamlining business processes and increasing operational efficiencies, some of them have started exploiting information as a strategic weapon, and their ability to extract meaningful insi
Usage-Based Insurance Goes Mainstream (Video)June 19, 2012As the market for programs grows, mainstream media have picked up coverage on the concept of telematics-powered usage-based auto insurance.
Usage-Based Insurance: 5 Reasons This Is the YearJune 13, 2012Telematics-powered, usage-based auto insurance has been slow to get off the ground. But industry observers insist it finally is poised for a meteoric rise.
8 Priorities for More Effective Mobile SecurityMay 04, 2012Smartphone shipments are expected to reach 1.7 billion in 2017, forecasts telecommunications analyst Ovum – more evidence that the growth of the mobile channel presents tremendous opportunities for insurance companies in areas as diverse as distribut
Insurers Must Temper Mobile Euphoria with IT Security RealismApril 30, 2012Insurers' mobile-focused consumerization is a heartening development, but they need to scrupulously examine the new information security exposures that mobile creates within their business processes.
How to Build a Modern Claims ExperienceApril 02, 2012Claims have become the next battleground for winning and retaining customers, and insurers are exploring new ways to apply people, process and technology to create a superior customer experience.
PAS As a Launchpad for Improved Customer ExperienceFebruary 15, 2012A modernized policy administration platform provides the necessary launch pad for carriers to offer a variety of highly differentiated customer experiences and better respond to complex market demands.
Gaining Leverage from a Policy Administration ReplacementNovember 29, 2011Justifying the cost of a policy administration replacement can be a challenge for carriers because some of the benefits are indirect and don't surface until years later. But in the long run, you may find that the indirect benefits have the largest impact o
