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Celent European Insurance Newsletter, March 2012

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23 March 2012
London, United Kingdom

From the Senior Vice President for European Insurance

Did you know that insurance is the most expensive adword on Google? For me, that speaks to the relevance of insurance in 2012. Insurance may be a forced purchase, but it's still a necessary one. Whatever business cycle we are in, businesses and consumers need to be assured that their assets can be protected.

At the moment, being in the downswing of the economic cycle, we expect to see more claims and more fraud. So this year we will focus on more research into relevant technology vendors for the insurance market. Watch out for the European claims report, as well as the fraud detection software report. Our anti-money laundering report is already published. Another trend related to difficult times is reviewing closed life books of business. We will look into strategies being considered by insurers in response to pressures on margins and compliance.

Not just interested in writing about technology, we like to recognize good projects and people in the tech space. In the UK, we are working once more with Insurance Times on the only insurance technology awards for the general insurance market in the United Kingdom. There are some great categories like innovation, e-commerce in action, best service provider, and newcomer of the year. The judging panel will include folk from Celent, Google, and RSA. For more details on how to make a submission, check out the Insurance Times website. Deadline for entries is 11 May, so get submitting.

Catherine Stagg-Macey
Senior Vice President

Data Point of the Month

From the Celent report Telematics-Based Insurance: Has Its Time Finally Arrived?

Celent Published Reports

Research in Progress

  • Market Trends in Managing Closed Book Business Across NA and EMEA
  • Global IT Spending Trends in Insurance
  • Trends in UK Online Insurance: What is the Customer Journey for Purchasing Online?
  • Fraud Detection IT Vendor Spectrum

Calendar

11 May 2012
Nominations Close
2012 Technology in Insurance Awards

13 September 2012
Conference
Creative Disruption
New York, NY USA

1 November 2012
Nominations Close
Seventh Annual
Model Insurer Awards

30 November 2012
Nominations Close
Third Annual
Model Insurer Asia Awards

For more information on any of the above events, contact insuranceevents@celent.com or call +1.617.262.3120.