Insure Think

Insurers should mandate risk management exercises be a part of every IT project.

Expert says one of the most common misconceptions is the belief that cloud computing is a cheaper technology to be implemented and deployed.

Two senators warn of impending disaster, but some seem to think the threat is overblown.

It’s no surprise that customers don’t relate well to the machinations of our customer-facing software.

Unified communications is the integration of various communication media with business process management and workflow.

The challenge for insurers, experts say, is to stay focused on the customer, but without additional funding to do so.

An unbalanced UK economy and uneven success across Europe utilizing a bancassurance model have hindered life insurers overall success.

As a trillion-dollar industry managed by political cronies and policed by the IRS, government-run health care is a series of problems waiting to happen.

When paired, cloud computing and BPM permit insurers to identify, model and automate ailing mission-critical business processes.

Any organization connected to health care is going to need lots of expertise in data management and architecture sooner than later.

The Chinese government and Google both seek the moral high ground, but China’s record on the Web reveals hypocrisy.

Insurers can create a hybrid cloud that keeps certain tasks within the enterprise on a private cloud, but leverages the public cloud for other tasks.

Thinking globally and acting locally, Patni follows the example of Mitsubishi and others that have brought jobs to the United States.

The reality is self service is one of the key value drivers in insurance systems these days, and can have a significant and rapid impact on the business.

When developing new processes and implementing new applications systems, it's vital to eliminate the uncertainty and get the necessary information from those who do the work.

Creating this type of a dialogue between employees frequently yields greater efficiencies for the organization.

Would Apple’s show of appreciation land it in hot water with Obama’s salary watchdog?

A new IBM study finds CFOs have gained power as a result of the financial crisis, but lack tools needed to make good decisions.

Insurers that were most happy with their IT services vendor felt they had a true partnership with their vendor.

Insurers shouldn't ignore developing mobile apps for customers, integrating social media across all activities and honing multi-channel communications.

Sure, online health care will save time and money, but it will also alienate patients from their providers.

The average large insurance company has 13 Twitter accounts, according to the study.

UK consumers have learned that their loyalty is usually rewarded with a hike in premiums.

A new, more robust version of the federal government’s intrusion detection program could be a blessing for U.S. businesses, but already the specter of invasion of privacy is being raised.

While greatly desired by many insurers, this promise is often more aspiration than realization.

Everyone agrees that something needs to be done, but crooks know they can count on government for a phlegmatic response.

While the space insurance market is currently small, one expert says it's vital for sustainable commercial space activities.

New studies find consumers are still slowly recovering from the economic maelstrom that hit between 2007 and 2009.

Implementing new strategy requires leadership, executive involvement, a plan, technology and discipline, among other things.

IT is a world unto itself, and that’s part of the problem when it proves to be ineffective.

The end-goal for many insurers is to bring self service to all aspects of customer and agent interfaces. And everybody wants it.

Leveraging existing assets and getting privacy concerns right the first time are two important lessons insurers can learn.

Part of IT planning is to consider how a system will be kept up-to-date, and how it will eventually be retired.

The federal government seems keen on developing commercial space flight technologies, but how do we insure those who go where very few men have gone before?

By opening channels for customer interaction, USAA shows that it's keeping customer care front and center.

The Associated Press reported recently that the FBI is investigating a Pennsylvania school district accused of “secretly activating webcams inside students' homes.” The FBI will explore whether Lower Merion School District officials broke any federal wiretap or computer-intrusion laws by activating the webcams in laptops that the school owns and distributes to students.

We have daily discussions with insurers about how to balance the tasks involved with the maintenance of a legacy system environment with those required for strategic system renewal. It brings to my mind the analogy of “fixing a plane in mid-flight.” Most IT shops have neither the capacity nor the skill sets to do both with their in-house staff. These needs have created a large market for ITO, BPO, and system integration services. In observing this expanded sourcing model in action, it occurs to me that the whole organizational design of information areas is undergoing a change.

A couple months back, we reported on a study that showed younger people (under 30) were more likely to be receptive to electronic communications from carriers about new products and offers, which opens new possibilities for the way insurers can and should engage with this digital generation.

Just about everyone dreams of making that big splash, that big score or that big impression that catapults themselves into fame, stardom, renown and/or lots of money. Just ask the thousands who waited for days at each of the audition sites for a chance to sing for 20 seconds in front of the American Idol judges.

As I write this, near-term predictions are multiplying for improvement in leading indicators; however, the pressure on cost containment remains strong. How should quality play into this cost reduction discussion? That question is likely to evoke strong opinions.

In a recent conversation with a vendor, I was asked if there was any way in which we [Celent] could encourage/support the standardization of request for information documents sent out by insurers. Think ACORD Standards for RFIs! At the heart of her question, was a sense of deep frustration at the evaluation process which inhibits the vendor from highlighting or differentiating themselves. I have some sympathy with this view.

Master Data Management, MDM, is one of those great ideas that everyone agrees on, like maintaining a good diet and getting exercise. But then everyone resists actually doing it. Small wonder my friend Dave Linthicum once said the biggest job in MDM was “Managing Dumb Meatheads.”

Google Buzz users went nuts when their contacts were assembled without their consent, but other social media users are only too happy to air every piece of dirty laundry in their baskets to anyone who will listen.

Open source offers rapid turnaround and quicker time to market, which appeals to many insurers.

Insurers don’t buy tech for policyholders to tell them how pretty their bill is but, instead, as part of a bigger strategy to do something for the business.

The Toyota recall is the perfect opportunity for carriers to encourage online self-service.

Speed is an important part of the equation that yields customer satisfaction and begets retention, but not at the cost of relationship building.

Experts believe companies should gradually immerse themselves in social networking strategies—not dash in an all-at-once fashion.

Insurers looking at IT outsourcing, whether for hardware, software or people, should focus not on cost, but long-term business value.

A new study from IBM suggests that data governance is critical, but actions based on data are unique.

Critic contends that all this cloud terminology is sort of silly, and suggest that it may even be setting the industry back.

Today's insurance CIO must rise above the shortcomings of his predecessors, and be equally adept at dealing with both business and technology issues.