Using Emerging Technology for Competitive Advantage: A Near-Term Guide for Life/Health Insurers

November 28, 2005


New York, NY, USA November 28, 2005

Some insurers are already using emerging technologies, while others haven稚 even started to research their potential use. This ever-widening gap will allow some carriers to gain預nd most likely sustain預 competitive advantage.

In a new report, "Using Emerging Technology for Competitive Advantage: A Near-Term Guide for L/H Insurers," Celent examines these technologies and how carriers should be using them.

Emerging technologies that are already in use by consumers or other industries預nd in some cases a handful of insurers預nd are being increasingly considered by carriers include open source software, new wireless technologies, and VoIP.

Other less mature technologies are starting to be piloted or at least investigated by carriers. These include grid, cluster, and/or utility computing, multifunction cell phones, as well as electronic forms, such as e-applications that leverage e-signatures or digital pens and paper. Other technologies are just now getting to market, such as WiMAX and 3G, new wireless technologies that will allow for always-on, broadband connections virtually anywhere.

"In general, carriers need to improve their use of technology in order to cut costs, boost revenues, and stay competitive with potential entrants to the industry," said Chad Hersh, a senior analyst in Celent痴 insurance practice and author of the report. "Carriers need to focus on quick wins and high-ROI projects to help develop a culture that supports leveraging emerging technologies. Doing so could lead to short-term and long-term benefits for carriers that embrace them."

The report also examines the likely adoption rates for certain key technologies.

A similar report, "Using Emerging Technology for Competitive Advantage: A Near-Term Guide for P/ C Insurers," is also available and covers emerging technologies for property/casualty carriers.

The 25-page report contains six tables and three figures.

of Celent's Life/Health Insurance research service can download the report electronically by clicking on the icon to the left.  Non-members should contact for more information.


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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].

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Table of Contents


New York, NY, USA November 28,  2005

Return to report Abstract

Executive Summary 3
Introduction 4
What's Mainstream Today for (A Few) Insurers, Consumers, and Other Industries 5
Growing Acceptance by Consumers or Other Industries 8
Coming Soon (Mostly) to an Industry Near You 16
Where Should Carriers Invest Today? 18
Projected Adoption Rates 21
Concluding Thoughts 23
Objectivity & Methodology 24

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