Insure Think

Consumers would rather have service fast and easy, even if it is not the best result.

Insurance coverage will transition from Personal Lines (where people do the driving) to Commercial Lines (where the manufacturer is responsible for the safety and accuracy of the vehicle).

For on-premises needs, the latest technologies, including flash, solid state drives, and in-memory computing offer new ways to provide rapid access to new data.

Boosted by the impending release of the Apple Watch, wearable devices have received a fair amount of attention recently – and with good reason. This emergent technology has the potential to alter the way the health insurance industry operates on a fundamental level.

The core transformation journey requires companies to shift from reactive to proactive business models, incorporating maturing and emerging technologies, customizing and personalizing products, and accelerating speed to market while providing improved customer service.

Insurers also are confronting waves of disruptive changes, which threaten to challenge and undermine businesses.

If you think of enterprises like collections of neighborhoods that need to be nurtured, you quickly see that architecture, not obliteration, is the key.

I just don’t believe it; only 720,000 Androidwear watches were sold in 2014. Apple has been amazingly successful in so many markets. Were they always first? No, a lot of products before. Were they always best? Again, no, superior devices have fallen.

Deployment rates have grown in the year since Novarica’s last study on these topics.

Novarica research shows that nearly 40 percent of P&C and life/health/annuity carriers are currently replacing or planning to replace a policy administration system.

Insurers may like a vendor’s full service model for updating policy content rules, but they don’t want to be held captive if the vendor doesn’t offer fast speed-to-market.

Quote data often is disregarded due to its volume, but properly managed can offer insights into product and pricing strategy, expense control, cross selling and upselling.

I don’t like when insurance companies are hectored by people inside or outside of the industry about how they aren’t innovative. Many insurers are leading the way in gleaning real results from emerging technology disciplines, including big data, analytics, mobile technology, and telematics.

Going digital isn’t just something that can be accomplished by decree. It takes finesse to keep everything in sync.

Is your budget for security larger than Google, Amazon or Microsoft?

Novarica Commentaries are available to clients only, but we’ve posted direct links to some of the most important stories below.

Insurance industry IT executives, undertaking projects to modernize core systems, improve customer engagement or adapt to the Internet of Things can feel a little like they are doing the same things over and over without seeing any real transformation.

Often, the notion is that the internet will eliminate the need for insurance agents, just as the rise in online travel sites put travel agents out of business. But this analogy is not comparable.

Digital platforms are changing the way we look at data, applications, and the insularity of the insurance industry.

Four tips on how to handle system users who are reluctant or openly resistant to change.

Insurance always has generated a huge amount of information. What’s new is the volume of newly available information and insurers’ new-found ability to digest that information and use it to predict risk.

Insurers should note that customers are more willing than ever to divulge personal information for the promise of a better deal, an enhanced experience and better service.

Security, for all intents and purposes, should be a “crowdsourced” effort – everyone needs to contribute.

Next stage of the mobility revolution: stepping back from frantic rollouts and encouraging holistic enterprise offerings.

Might HoloLens succeed where Google Glass didn’t?

Firms need to actively adapt their data governance and data management capabilities – from implementing to ongoing maintenance. Here are the steps to follow.

If everybody knows that all you need to save money on insurance is 15 minutes, then car insurance is a commodity in the eyes of the customer.

The insurer attempted to start a social conversation about childhood accidents with a jarring spot in which the child protagonist dies. But if sentiment is any indicator, people didn’t want to listen.

Using a simplified approach to the RFI process allows insurers to narrow the range of potential suppliers much more quickly and effectively than a dense RFP.

Insurers from all around the world are making great efforts to become digital.

In the current hyper-competitive marketplace, many carriers are focusing on improving their distribution practices as a key technique for driving growth.

Google is getting the approval for selling insurance on their compare site in a large number of states via a number of different insurance partners.

Four steps CIOs need to take to lead insurance organizations to greater “customer obsession.”

Insurers must choose between embracing innovation or just continuing with business as usual and run the risk of becoming a casualty in the new competitive battle.

Emerging technologies displayed at the CES could be some of the greatest change agents since the introduction of the Internet, offering breakthroughs that could challenge many businesses.

Developing a usage-based insurance program has now gotten easier.

Marketing executives continue their march into the insurance data center.

We live in a brave new world now with digital devices and equipment surrounding us in a sea of capabilities that (generally) improve the quality of our experiences.

Celent surveyed 41 vendors about their cloud applications, pricing models, platform investments and their expectations of where the market is going.

By appealing to their enlightened self-interest, CIOs can convert CFOs into fellow innovators.

Key performance indicators tend to provide a one-dimensional view of project value. Try asking some “key performance questions” as well.

Even though insurers have been mentioning Google overtures to participate on the comparison site for more than two years, the Google Compare U.S. site launch keeps getting pushed back.

The new wave of digital technologies is sending a clear message to even the most recalcitrant insurers: Go digital or go home.

New study shows data center growth will soon peak, and then decline. What will take their place?

Allstate's director of technology and operations says that despite the appeal, there are fundamental challenges that could delay the widespread adoption of smart-home technologies.

System and application issues are only getting more complex and expensive. Time for more self healing.

Allstate’s CIO describes how the company’s IT leaders and managers are helping to recast the company.

Key performance indicators tend to provide a one-dimensional view of project value. Try asking some “key performance questions” as well.

A new Celent report profiles claims solutions that are available in North America.

Novarica provides seven guidelines to help CIOs to determine their architectural governance maturity.

Yes, cloud has the potential to deliver cost-savings and flexibility. But there are some other advantages that may become apparent.

One of the few positive outcomes of the financial downturn has been the realization that ongoing innovation and transformation really are required to stay ahead of our direct competition and the evolutionary changes in the marketplace.