Currently viewing the tag: "Insurance Technology"
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Create one web: A strategy for insurers as society goes mobile by Ajay Kapur 02.21.2012: In the last decade, the internet has upended numerous industries, created new entrants into the insurance industry and transformed how traditional insurance companies acquire and retain customers. But if one looks at the impact of mobile, the opposite appears true—only 2% of online commerce came through mobile in 2011. How can adoption of mobile technology be so dramatic yet its impact almost negligible? The answer to this question has direct implications on an insurance company’s mobile strategy....
Champions of analytic innovation: Deriving value from data-driven process improvements by Marty Ellingsworth 01.31.2012: Advanced analytics — including market research, web analytics, social networking, geocoding, vehicle telematics, graph mining, and much more — can enhance business intelligence to address persistent strategic challenges....
U.S. P&C Personal Lines Insurance Underwriting Process: Contractual and Compliance Perspectives by Joseph Wiest 08.23.2011: Insurance is a complicated topic that is not well understood by insurance consumers. The underwriting cycle is used to explain why it is complicated, both from a contractual and a compliance perspective. The article cycles through the entire underwriting process, from when an applicant requests coverage to the renewal of a policy, as well as discussing adverse underwriting decisions....
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The insurance tipping point: Innovation and transformation by Denise Garth 01.03.2011: Considering innovation and insurance together are viewed by many as oxymoronic. While the insurance industry demonstrated innovation during the 1960’s and 1970’s by creating new products, services and distribution methods using technology, innovation slowed measurably. But during this period of innovation, early-adoption fueled growth, expanded customer access and competitive pricing through more efficient operations enabled by technology. This value has diminished due largely to the “Achilles heel” of legacy solutions and models. Once again, innovation and disruption are needed for a new round of competition......
Industry innovations: A mobile applications interview with Bob Evans by Editor 01.03.2011: In this installment of industry innovations, we interview Bob Evans, director of Mobile Insurance Solutions at CSC, to learn about mobile applications and how insurers can use them to deliver increased value to customers and propel innovative new business models....
Insurance gets social: The rise and fall of social media for insurance by Jennifer Overhulse-King 06.01.2010: Despite recent advances in social media by industry leaders such as GEICO and Allstate, insurers as a whole are still largely considered to be dangerously behind the curve in their use of the social web. In this article, Jennifer Overhulse-King, Principal Owner of St. Nick Media Services, posits that utilizing social media is no longer merely an option for insurers, but rather an absolute imperative for those companies that wish to properly manage the modern customer experience. As such, insurers must immediately begin planning and developing strategies and protective measures in order to ensure the effectiveness of social media efforts....