Insurance

The 2017 Cincom Document Solutions Customer Conference

: Seattle, Washington
: May 1, 2017
: Michael Fitzgerald, Innovation, Digital, Innovation and Emerging Technologies, Insurance
North America

Become a communications virtuoso with hands-on technical workshops and presentations. Boost your implementation with one-on-one consulting sessions with Cincom's Professional Services and Support teams. Hear industry experts sing about the latest innovations in the customer communications industry. Harmonize with other Cincom Eloquence® customers and share lessons learned. Discover what the future holds for Cincom Eloquence.

18th Asia Conference on Bancassurance and Alternative Distribution Channels

: Jakarta
: May 16, 2017
: 2 p.m.
: Eiichiro Yanagawa, Banking, Insurance
Asia-Pacific
Banking
Insurance

Eiichiro Yanagawa, Senior Analyst, will present "The Strategic Move from Distribution to Delivery — Making Customer Engagement More Efficient for Insurers and Bankers."

  • This keynote provides the results of a Celent survey conducted in 2016 on:
  • The current role of customer communication management and deployment preferences.
  • Adoption of cloud models, drivers, and concerns for customer engagement.

Expected benefits of customer engagement in the in the era of FinTech/ Insurtech.

Industry Trends
Global

Abstract

This report analyzes regional IT spending patterns of insurance companies and presents a high-level view of the insurance global market. It examines estimates for IT budgets based on premium growth as well as the impact of technology on strategic and business trends.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

4

 

Key Research Questions

4

 

Global GPD Estimates

4

 

Global Insurance Sales

5

 

Definition of IT Spending

5

The Insurance Industry Global View

7

 

Top Technology Trends

8

North America

12

 

Snapshot

12

 

Top Trends

14

Europe

19

 

Snapshot

19

 

Top Trends

21

Asia-Pacific

24

 

Snapshot

24

 

Top Trends

26

Latin America

30

 

Snapshot

30

 

Top Trends

32

Rest of the World

38

Conclusion

39

Leveraging Celent’s Expertise

40

 

Support for Financial Institutions

40

 

Support for Vendors

40

Related Celent Research

41

Celent anuncia los ganadores del premio “Asegurador Modelo”

Boston, MA
April 5, 2017

4 de Abril, 2017

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Celent Announces Model Insurer Award Winners

Boston, MA, USA
April 4, 2017

FOR IMMEDIATE RELEASE
April 4, 2017


Celent Announces Model Insurer Award Winners

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

by Karen Monks,  Luis Chipana, April 12, 2017
Case Studies
Global

Abstract

In 2017, CSE has been awarded Model Insurer of the Year for its aspiration to achieve “the best product in the industry.” This meant they had to overcome legacy thinking and practices to re-think all the features including coverage, pricing, rules, process, and communications To do so, they sought inputs from customers and analyzed the market using two common analyses: 5 C’s and SWOT. From this point on, CSE assembled and adapted its core system.

What can insurers learn from best in class innovation initiatives?

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

3

 

Model Insurer Overview

3

 

Model Insurer Themes

3

 

About this Report

6

 

Summary of Model Insurer Award Winning Initiatives

7

Common Best Practices and Results

10

 

IT Best Practices

11

 

Measurable Business Results

14

Model Insurer of the Year: CSE Insurance Group

17

 

Opportunity

18

 

Solution

19

 

Project Planning

20

 

Delivery

23

 

Results

24

Conclusion

27

Leveraging Celent’s Expertise

28

 

Support for Financial Institutions

28

 

Support for Vendors

28

Related Celent Research

29

by Donald Light, April 4, 2017
Case Studies
Global

Abstract

Celent Model Insurer 2017: Case Studies in Digital and OmniChannel

This report recognizes three outstanding implementations of digital strategies by life insurers — which resulted in reduced costs, faster cycle times, and better customer experiences.

Life insurers dominate the 2017 Celent Digital and Omnichannel Model Insurer awards.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

3

 

Model Insurer Overview

3

 

Model Insurer Themes

3

 

About this Report

6

 

Summary of Model Insurer Award Winning Initiatives

7

Common Best Practices and Results

10

 

IT Best Practices

11

 

Measurable Business Results

14

Digital and Omnichannel and Its Impact on the Insurance Industry

17

 

Overview

17

CUNA Mutual Group: TruStage, Selling Simplified Issue Term Life Online

19

Lincoln Financial: Digitally Underwritten Term Life

22

New York Life: The Client and TPA Portal

24

Conclusion

26

Leveraging Celent’s Expertise

27

 

Support for Financial Institutions

27

 

Support for Vendors

27

Related Celent Research

28

by Nicolas Michellod, April 4, 2017
Case Studies
Global

Abstract

Celent Model Insurer 2017: Case Studies in Legacy and Ecosystem Transformation

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

3

 

Model Insurer Overview

3

 

Model Insurer Themes

3

 

About this Report

6

 

Summary of Model Insurer Award Winning Initiatives

7

Common Best Practices and Results

10

 

IT Best Practices

11

 

Measurable Business Results

14

Legacy and Ecosystem Transformation and Its Impact on the Insurance Industry

17

 

A Work in Progress

17

 

Legacy and Ecosystem Transformation Benefits

17

 

Introducing the Award Winners’ Profiles

18

Republic Indemnity: Workers Compensation Policy Administration System Replacement

19

 

Opportunity

19

 

Solution

20

 

Delivery/Implementation/Project

20

 

Results

21

ERS: Full System and Infrastructure Replatforming

22

 

Opportunity

22

 

Solution

22

 

Delivery/Implementation/Project

23

 

Results

24

Insurance Corporation of British Columbia: Improving Efficiency Through a Major Legacy Transformation

25

 

Opportunity

25

 

Solution

26

 

Delivery/Implementation/Project

26

 

Results

27

Conclusion

28

 

Opportunity Identification

29

 

Implementation

29

Leveraging Celent’s Expertise

31

 

Support for Financial Institutions

31

 

Support for Vendors

31

Related Celent Research

32

by Craig Beattie, April 4, 2017
Case Studies
Global

Abstract

Celent Model Insurer 2017: Case Studies in Data Mastery and Analytics

The vision for Celent’s Model Insurer research is to try to answer an apparently simple question: “What would it look like for an insurer to do everything right with today’s technology?” Three examples of successful Data Mastery and Analytics projects are detailed to illustrate the challenges of such initiatives.

Data Mastery and Analytics has evolved at great speed and is more relevant than ever to insurers looking for growth and efficiency.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

3

 

Model Insurer Overview

3

 

Model Insurer Themes

3

 

About this Report

6

 

Summary of Model Insurer Award Winning Initiatives

7

Common Best Practices and Results

10

 

IT Best Practices

11

 

Measurable Business Results

14

Data Mastery and Analytics and Its Impact on the Insurance Industry

17

 

Meteo Protect: Using In-Memory Analytics to Enhance Weather-Data Analysis

18

 

StarStone Specialty Insurance Company: Leveraging Unstructured Data to Improve Underwriting

20

 

The Saving Bank Life Insurance Company of Massachusetts: Accelerating Underwriting

22

Conclusion

24

Leveraging Celent’s Expertise

25

 

Support for Financial Institutions

25

 

Support for Vendors

25

Related Celent Research

26

by Michael Fitzgerald, April 4, 2017
Case Studies
Global

Abstract

Celent Model Insurer 2017: Case Studies in Innovation and Emerging Technologies

Innovation continued to gain traction in 2016. Changing customer expectations, digital transformation, growth needs in the face of resource scarcity, and environmental concerns are impacting every industry, including financial services. These changes accelerate the growth of the sharing economy and the demand for new customer value. These case studies profile insurers leading the way in innovation and emerging technologies.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

3

 

Model Insurer Overview

3

 

Model Insurer Themes

3

 

About this Report

6

 

Summary of Model Insurer Award Winning Initiatives

7

Common Best Practices and Results

10

 

IT Best Practices

11

 

Measurable Business Results

14

Innovation and Emerging Technologies and Its Impact on the Insurance Industry

17

Church Mutual Insurance Company: Church Mutual Sensor Technology Program

18

 

Opportunity

18

 

Solution

19

 

Delivery/Implementation/Project

19

 

Results

19

Markerstudy Insurance: VisionTrack

21

 

Opportunity

21

 

Solution

22

 

Delivery/Implementation/Project

22

 

Results

23

Suramericana de Seguros

24

Conclusion

28

Leveraging Celent’s Expertise

30

 

Support for Financial Institutions

30

 

Support for Vendors

30

Related Celent Research

31

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