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After writing our biannual report on new business and underwritiing systems ( New Business and Underwriting Systems: North America Life Insuranc…
After writing our biannual report on new business and underwritiing systems ( New Business and Underwriting Systems: North America Life Insuranc…
Celent recently published a review of the underwriting systems marketed and sold to North American life insurers: New Business and Underwriting…
Have you wondered what changes were implemented for underwriting during the pandemic and how life insurance underwriting changed over the past t…
COVID-19 and the underlying macroeconomic environment forced life insurers to deeply examine their product offerings and business processes beca…
Since the onset of COVID-19, the life insurance industry had to make some dramatic changes. The pandemic forced life insurers to digitize rapidl…
Life Insurance Underwriting - Is It Changing Fast Enough? Every two years we do a deep dive into life insurance underwriting systems. We look at…
In this report, we look at how data solutions play a role to provide support for actuary and underwriting functions in the insurance value chain…
As part of Celent's Innovation and Insight Week 2022, a roundtable was conducted for the data, analytics, and AI theme on the topic of 'Data Inn…
Not long ago insurers were resistant (or, at best hesitant) to move legacy data and applications to any place outside of the control of their ow…
Best in Class Digital Insurance - A Celent Peer Networking Event Recap On Wednesday, October 20, Celent welcomed 20 life insurance leaders in vi…
Is the intrinsic value of the coverage enough? Or do new customers want more from their insurance company? Today’s insurance experience is often…
Elon Musk once said “Failure is an option here. If you’re not failing, you’re not innovating enough". When I reflect on our work here at Celent,…
Snap polls reflect questions posed by members of the Celent executive research panel. Several members of the NA L&H panel queried about digital…
Alternative data sources would provide insurers with additional data that complement internal organizational or policyholders’ information. It w…
Insurers are pursuing digitization while challenging themselves to become customer centric. Some have gone the path of establishing greenfield d…
Use of distribution management systems is increasing due to a variety of changes happening in the market. The increase in insurance agency merge…
Use of distribution management systems is increasing due to a variety of changes happening in the market. The increase in insurance agency merge…
Out of necessity, insurers are becoming much more sophisticated in how they think about distribution management. While the primary channel for b…
About the Showcase Gen AI is the hottest topic in the industry right now. Insurers are reaching out daily with questions and the need for advice…
Celent conducted a survey of producers with a set of questions covering management issues related to the use of technology, digital transformati…
Distribution management systems are increasing in use due to a variety of changes happening in the market. The increase in insurance agency merg…
Distribution management systems are increasing in use due to a variety of changes happening in the market. The increase in insurance agency merg…
Shifting customer expectations are creating a new need for new business models. As the current workforce ages, insurers are exploring new distri…
Insurers that use independent agents know that high production is correlated with strong relationships. But the world of the independent agent i…
Managing agent licensing is a business-critical function for insurers and agencies. But as insurers and agencies look to grow, they face increas…
At the start of the new decade, there is a noticeable observation in how business models are evolving to satisfy the latest generation of workin…
Managing the variety and innovation in a global distribution environment increasingly requires 'digital tools' and capabilities that allow insur…
Managing the variety and dynamism in a distribution environment that is increasingly digital requires tools that allow insurers to deal with a v…
The new era of customer-centricity in insurance applies to agents just as much as it applies to policyholders. Many insurers are focusing their…
Celent has released a new report titled Onboarding in Corporate Transaction Banking: Prioritizing Investments for Reducing Friction. The report…
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
This report is a companion piece to the Global IT report and focuses solely on North American Wealth Management IT Spending which includes Canad…
Over three weeks in September 2022, Celent Banking team ran an online survey where we invited our contacts in the industry – clients and non-cli…
Faced with historically high inflation and energy bills, increasing interest rates, and continued geopolitical and economic uncertainty, consume…
The demand for applications is growing faster than the supply of developers to deliver them. A new era of low/no-code development is emerging, w…
The imperative for financial institutions (FIs) to undergo digital transformation has only increased during the past two years. Many FIs are in…
Legend, an open source technology platform offered by Goldman Sachs and FINOS, tackles the rapidly growing challenge of ensuring timely access t…
The marketing statements of financial institutions have for years touted“customer-first”, “customer 360”; and “omnichannel communications” to de…
Implementing changes has always required various human and technology resources. Wealth management (WM) firms have generally employed specific p…
The demand for applications is growing faster than the supply of developers to deliver them. A new era of low/no-code development is emerging no…
The growth in demand for digital has created a long tail of applications which traditional IT struggles to build or maintain. The backlog is gro…
Implementing changes has always required various human and technology resources. Insurers have generally employed specific processes to plan, ex…
In 2018 ING embarked on a multiyear program to reimagine application development and drive change within an agile, at-scale transformation frame…
Intelligent automation projects are worth exploring as they can directly decrease the cost of operations while improving scalability and reducin…
In today’s globalized business environment, companies increasingly seek success outside their borders. To differentiate themselves, internationa…
Following up on Celent's biennial EMEA claims admin system review, Celent asked for customer references to get feedback on vendors and systems. …
Following up from Celent's biennial North American claims admin system review, Celent asked for customer references in order to get feedback on…
About the Showcase Gen AI is the hottest topic in the industry right now. Insurers are reaching out daily with questions and the need for advice…
Throughout history, insurance has provided protection to countless individuals and businesses. However, alongside the insurance industry, insura…
Taiwan Life Insurance’s AI Platform for Claims provides multiple convenient claims delivery channels that address the many issues Taiwanese poli…
Welcome to a future where the claims journey is as seamless as it is empowering. Markerstudy Insurance Services Limited embarked on a transforma…
This week, we at Celent released new and updated P&C claims systems vendor reports for four regions: North America EMEA Latin America Asia-Pac…
Claims, often referred to as the "moment of truth," represent the fulfillment of an insurance policy's promise to indemnify and make customers w…
Claims, often referred to as the "moment of truth," represent the fulfillment of an insurance policy's promise to indemnify and make customers w…
Claims, often referred to as the "moment of truth," represent the fulfillment of an insurance policy's promise to indemnify and make customers w…
Claims, often referred to as the "moment of truth," represent the fulfillment of an insurance policy's promise to indemnify and make customers w…
Housing hunters are familiar with the axiom, "Size, location, price: Pick one." But for insurance system replacements, sights are usually set hi…
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
This report is a companion piece to the Global IT report and focuses solely on North American Wealth Management IT Spending which includes Canad…
The current banking crisis in 2023 has so far focused on large regional and national banks that have had liquidity issues leading to a bank run…
Insurers have been modernizing their legacy systems, increasing their presence in cloud, and finding innovative use cases driven by emerging tec…
When Joyn Insurance developed Spark, a digital workflow platform for commercial business, it transformed a largely manual process to enable unde…
This research will provide an overview of the insurance market and technology trends in Australia and New Zealand. We will provide examples of i…
In this report, we look at how data solutions play a role to provide support for actuary and underwriting functions in the insurance value chain…
As part of Celent's Innovation and Insight Week 2022, a roundtable was conducted for the data, analytics, and AI theme on the topic of 'Data Inn…
Amerisure, one of the nation's leading providers of commercial insurance, embarked on an underwriting transformation program in 2017 to support…
The world is witnessing a state of flux, with climate change threatening where we live, work, and play. Natural catastrophes and weather reliant…
In today’s globalized business environment, companies increasingly seek success outside their borders. To differentiate themselves, internationa…
Providing the right cover in a timely manner to customers is an increasing challenge both for underwriters and brokers. Mphasis shared some of t…
Use of artificial intelligence offers new opportunities across all operations in the insurance industry. For this briefing note, we focus on Chi…
System decisions are complicated. In this report, targeted at both the buyer and the seller, Celent discusses how to manage the process of comin…
A focus on the insurance ecosystem, the role of digital, innovation, and InsurTech. I had the great pleasure of attending DIA Munich 2018 . As a…
In January this year I posted a blog, If 2017 Was the Year of Insurtech, Will 2018 be the Year of the Insurance Platform? The blog pointed out t…