North American SnAppshot: A Look at Mobile Apps Aimed at Insurance Consumers

by Craig Beattie,  Craig Weber, November 26, 2010
Industry Trends
North America

Abstract

The mobile web is evolving at an extraordinary rate, and each evolution has brought new possibilities to insurers. Smartphones are getting significant focus in 2010, with many leading insurers publishing feature-rich apps. Just what are these apps doing, and what features appear most frequently or are most desired?

To assess this evolution, Celent reviewed publicly available information about property/casualty insurer mobile apps. Celent reviewed the platform stores and websites of 10 prominent insurers, and we found a far more mature state of mobile application adoption than we expected. In a new report, North American SnAppshot: A Look at Mobile Apps Aimed at Insurance Consumers, Celent provides an overview of these findings and describes the requirements of North American customers.

“We won’t all shop for insurance via iPhone, or file a claim from the scene of an accident via BlackBerry, but some of us already have,” says Craig Weber, Senior Vice President of Celent's Insurance Group.

“The interplay between computing power, screen resolution, other usability factors, and consumer behaviors is not new. But some long-held assumptions about what insurance consumers want to do, and when and where they want to do it, are being challenged,” says Craig Beattie, Analyst with Celent’s Insurance Group and coauthor of the report.

This report provides an overview of available mobile apps, their use by insurers, and current trends and routes to adoption. It also offers some guidance on how these technologies can be used by insurers.

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 subsidiary 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

3

Introduction

4

 

Do Mobile Apps Matter?

5

 

When Did Software Turn into Apps?

5

 

Lesson from History?

6

Insurers and Their Mobile Apps

8

 

Approach

8

 

Platform Support

10

 

The Evolution of Features

11

 

iPhone Apps

11

 

Android Apps

12

 

App Functionality

13

Final Thoughts

15

 

Looking Ahead

17

Leveraging Celent’s Expertise

19

 

Support for Financial Institutions

19

 

Support for Vendors

19

Related Celent Research

20

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