Insurance

LOMA Insurance Forum

: Orlando
: April 26, 2017
: Tom Scales, Insurance
Insurance

Annual LOMA Insurance Conference

AACS Seminar

: Buenos Aires, Argentina
: April 19, 2017
: 12 hours
: Juan Mazzini, Insurance
Latin America
Insurance

Seminar looking at what digital means to insurance.

4th Brazilian Retail Insurance Summit 2017

: Sao Paola
: April 17, 2017
: Juan Mazzini, Insurance
Latin America
Insurance

Retail Insurance Conference targeted to Brazilian Insurers

CIO Insurance Summit

: Las Vegas
: April 4, 2017
: Karlyn Carnahan, Insurance
Insurance

Three day meeting of CIOs and vendors covering multiple topics.

by Michael Fitzgerald, March 2, 2017
Industry Trends
Global

Abstract

Celent invited innovation professionals from financial services firms to provide their outlook for 2017 in an online survey. The participants are all innovation practitioners who bring a current and practical perspective to their predictions. Their feedback is valuable for financial services leaders who want to benchmark and advance the innovation capabilities in their firms.

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

Program Benchmarks

2

2017 Outlook

5

 

Business Drivers

5

 

Innovation Investments

6

Path Forward

9

Conclusion

11

Appendix — Survey Demographics

12

Leveraging Celent’s Expertise

14

 

Support for Financial Institutions

14

 

Support for Vendors

14

Related Celent Research

15

by Michael Fitzgerald, February 28, 2017
Other
North America

Abstract

In order to understand the current state and trends regarding insurance payments, Celent conducted an online survey with insurers and managing general agents (MGAs). The results indicate that insurers recognize their payments capabilities as a differentiation opportunity and give their strategies careful attention. However, continued adjustments are necessary because not all insurers appear to be transitioning their views of payments from a tactical perspective to a strategic one.

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

2

 

Respondent Profile

2

Perceptions of Payments

4

 

Participant Perceptions

4

 

Customer Perceptions

5

Executing on Payments

8

 

Payments by Type and Delivery Method

8

Automation of Payments

11

 

Ranking the Customer Purchase Drivers

11

Going Forward

13

Appendix

15

Leveraging Celent’s Expertise

16

 

Support for Financial Institutions

16

 

Support for Vendors

16

Related Celent Research

17

by Colleen Risk, February 28, 2017
Industry Trends
Global, North America

Abstract

Numerous transformation initiatives provide lackluster results, and many are outright failures. This report provides the “dos and don’ts” that will smooth the road to a successful transformation journey.

Celent has released a new report titled Staying on the Right Track when the Transformation Road Changes. The report was written by Colleen Risk, a Senior Analyst in Celent’s Insurance practice.

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

2

 

Key Research Questions

2

Planning and Governance for a Successful Transformation

3

The Roadmap to a Successful Journey

5

Avoiding the Potholes in the Road

7

Buying Insurance with a Project Health Check

9

Final Remarks

11

Leveraging Celent’s Expertise

12

 

Support for Financial Institutions

12

 

Support for Vendors

12

Related Celent Research

13

by Tom Scales, February 27, 2017
Industry Trends
North America

Abstract

Agents support digital investment by insurers.

Celent has released a new report titled Driving Growth by Optimizing the Health Agent Experience. The report was written by Tom Scales, a Research Director with Celent's Insurance practice.

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

 

Key Findings

1

Introduction

2

 

Key Research Questions

2

 

About the Report

2

Survey Demographics

3

 

Agency Demographics

3

 

Personal Demographics

5

Factors in Insurance Company Choice

9

 

Functional Capabilities

11

Top Carrier Performance

14

What Can Insurers Do Better?

17

Where Should Insurers Invest?

19

Next Steps for Insurers

22

Leveraging Celent’s Expertise

23

 

Support for Financial Institutions

23

 

Support for Vendors

23

Related Celent Research

24

by Nicolas Michellod, February 23, 2017
Industry Trends
EMEA

Abstract

Analyst Perspective: While it is important that insurers are curious about new data gathering options and emerging technologies such as robo advisors, chat bots, artificial intelligence, and others, we think they should not rush to implement these new technologies. On the other hand, we think that it is crucial they try to anticipate how these technologies might impact their traditional model and identify the value they can generate not only for their customers but also for their core business (underwriting results).

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

Report Methodology

2

 

About the Survey

2

 

Digital Savviness

2

 

Survey Participants

3

Consumers’ Digital Expectations

4

 

Digital Transactions

4

 

Simple Transaction Preferences

4

 

Complex Transaction Preferences

6

 

User Experience Expectations

7

Sharing Data with Insurers

10

 

Approaches to Collect Private Consumer Data

10

 

Use of Social Media Data

10

 

Data Collected and Managed by Insurers

13

Smart Technology Adoption

16

 

Experience Using Smart Technologies

16

 

Expectations When Using Smart Technologies

17

 

Comparing Insurance with Other Industries

19

Final Thoughts

20

 

The Need to Stay Informed About Data and Smart Technologies

20

 

Actionable Recommendations

20

 

Avoid the Big Revolution

20

Leveraging Celent’s Expertise

21

 

Support for Financial Institutions

21

 

Support for Vendors

21

Related Celent Research

22

by Michael Fitzgerald, February 16, 2017
Industry Trends
Global

Abstract

A central theme in technology is speed. With cooperative development, another emerges — “You must be present to win.” Insurers have an opportunity to leverage the learnings obtained by banks and securities in cooperative development. However, they must be at the table in order to harvest these benefits.

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

2

 

Cooperative Development Models Emerging

2

 

Why Cooperative Development for DLT?

2

 

The Consortia Response

4

R3

5

 

What Is R3 and How Is It Organized?

5

 

How Are Projects Delivered?

6

Identity Management — Project LEIA

9

 

Business Challenge

9

 

KYC Proof of Concept — Project LEIA

10

 

Application to Insurance

12

Multicompany Participation — Project Camelot

13

 

Business Challenge

13

 

Managing Reference Data — Project Camelot

13

 

Application to Insurance

15

Going Forward

17

Leveraging Celent’s Expertise

18

 

Support for Financial Institutions

18

 

Support for Vendors

18

Related Celent Research

19

 

Insurance

19

 

Banking

19

 

Securities

19

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