Novarica in the Press

Novarica’s principals are frequently quoted in industry publications. If you are a reporter seeking access to a Novarica study or comment from a Novarica expert, please email media@novarica.com or call 212.419.2520.

Recent quotes from Novarica are listed below:

Publication	Subject	Date	Person
	Vendor Acquisitions Could Reshape Insurance Technology Space "Josefowicz foresees the Oracle move precipitating further deals, possibly soon. "Some larger players that weren't interested in the application space are now going to look at what Oracle did and get interested," he predicts. "Also, there has been significant private equity interest in this market for a while, and with Oracle getting more acquisitive, that's the thing that will get attention from more private equity investors as well.""	May 08	Matthew Josefowicz
	All for One and One for All “Compliance with ACORD standards can be a deal killer if the solution provider is not ready to support those models, reports Josefowicz. "In a lot of cases, people are not careful about what that means," he says. "If you ask a vendor whether it supports ACORD, you have to ask the second-level questions: Which processes? What models? What messaging types? Are you using the process models or just the messaging standards? You can have 10 vendors saying they are ACORD compliant, and they all mean different things.""	May 08	Matthew Josefowicz
	The Insurance Technology Indecision Cycle “While one should expect solutions to complex operational and data management problems to be a significant undertaking, the return on investment (ROI) of IT projects is often eroded unnecessarily by poor project management, [Josefowicz] says. "That poor project management starts before the project does?in the decision cycle.""	May 08	Matthew Josefowicz
	The Matt & Chad Show: Act One “The big boys of the research and consulting trade, you see, prefer what Josefowicz called a "consistent product offering," as it fits more tightly across the research behemoths' industry practices. Yet that may not always be the best way to serve any one individual industry, he said.”	Apr 08	Matthew Josefowicz
	Safeco may be the first of many insurance deals “"Although property/casualty insurers had their second strong year in 2007 in terms of underwriting results, achieving top-line growth has been elusive. We expect to see more acquisitions by growth-hungry insurers in 2008," said Matthew Josefowicz, director of the insurance practice at research and advisory firm Novarica.”	Apr 08	Matthew Josefowicz
	Legacy and Mainframe Migration: Finally the Rule Rather Than the Exception “Many technologies are converging to finally make migrating from legacy systems hardware realistic and cost-effective. Though past promises proved empty, an array of real technologies has emerged to make migrating away from legacy systems a viable, attractive option.”	Apr 08	Chad Hersh
	Visible Value: How to Create and Communicate Value with SOA “Service-oriented architecture is a critical tool for insurer technology teams. However, the high level of hype threatens to erode support for experimentation and the creation of documentable business value. Insurer CIOs should make sure they track and communicate the value of their tactical SOA investments in order to help their business partners truly understand the value of this technology approach.”	Mar 08	Matthew Josefowicz
	Billing Systems - New Technologies, Opportunities “Insurers need to support multiple channels, new payment methods and more flexible plans that allow different segments and distribution channels to serve their markets effectively," notes Matthew Josefowicz, director of the insurance practice. "Unfortunately, legacy billing systems are often not up to the job."	Mar 08	Matthew Josefowicz
	Overstuffed “A more tangible issue for a lot of insurers besides data storage and management issues is integrating e-mail into workflow processes and workflow systems that weren?t necessarily designed for such activity, [Josefowicz] adds. This relates to tasks such as making sure you can attach an e-mail to a case file just as easily as you could attach a scanned document; making sure you can attach an e-mail to a customer service interaction record the same way you can attach call notes; and making sure customer service requests get treated with the same sense of urgency as a customer service call, according to Josefowicz.”	Feb 08	Matthew Josefowicz
	Novarica Survey Finds P&C Insurance CEOs' Tech Knowledge Wanting "'Thinking about technology only in terms of communications capabilities may put commercial and specialty lines writers at risk of failing to use data effectively,' [Josefowicz] cautions. 'They are missing the opportunity to capture and move more data electronically, which will make that data more accessible to better analytics, which in turn will be the key to better risk selection and profitability going forward.'"	Feb 08	Matthew Josefowicz
	Virtual Universe, Real World Troubles "In the end, in the view of Matt Josefowicz, principal of Novarica's insurance practice, the recent failure of Internet-bearing fiber optic cables, 'underscores some of risks of offshore outsourcing and the relative fragility of the global information infrastructure. In a virtual info economy we tend to forget that these signals travel over a physical infrastructure vulnerable to accidents and volatile political situations.'"	Feb 08	Matthew Josefowicz
	Document Automation Vendors Emerge As Enterprise Solution Players ""Exstream has carved out a very strong position in high-volume, complex document composition in insurance as well as other areas, and this move clearly strengthens HP's overall position in document creation and output," Josefowicz says. "This is part of HP's general strategy of moving up the value chain in business technology into applications and value-added areas like business intelligence.""	Jan 08	Matthew Josefowicz
	Novantas Launches Insurance Research, Advisory Service “"We are getting away from the subscription model, and have retained an advisory services model in which the agenda is directed by the client," Josefowicz told INN, "which means the client is under no obligation to purchase research that is not relevant to them.""	Jan 08	Matthew Josefowicz
	New Sources of Advice "Novarica departs from what Josefowicz refers to as the dominant "Gartneresque" advisory model based on research subscription for one based on an annual retainer that gives clients access to the analyst or consultant."	Jan 08	Matthew Josefowicz
	The Comeback "InsWeb's early business model didn't allow it to "capitalize much of the value it was creating because it would only get paid if consumers purchased insurance through the company," said Josefowicz. "More often than not, consumers would go to their site, get information and then buy insurance offline with an agent or direct carrier."	Dec 07	Matthew Josefowicz
	Financial Services Firms Increasing Spending, But Priorities Differ "Cost take-out is not enough to get projects approved now. Companies are now looking for the creation of some business advantage, and that means the creation of some kind of productivity enhancement or new business capability."	Nov 07	Matthew Josefowicz
	Make Your Mark “Some carriers had the view if you were high touch, technology was less important because you were relying on high-value people to deliver service. However, if those people don’t have the systems and information to support good service, “they’re not delivering value,” Josefowicz adds. “You need to support those people with the analytics, workflow systems, access to data, and other tools to do their jobs most effectively.”	Nov 07	Matthew Josefowicz
	401(k) rule to spark risk-return scramble Obviously this is not the news that life insurers were hoping for, and the loss of this asset stream could be an issue for insurers who rely heavily on this product class.But perhaps it will spur the industry to expand its pension offerings beyond 401(k)s into other areas that provide the same kinds of predictability benefits to both buyers and sellers.”	Oct 07	Matthew Josefowicz
	CRM Systems: One Size May Not Fit All “Insurers have invested in online self-service and customer data consolidation and analysis, but often outside the bounds of a typical CRM software package."	Aug 07	Matthew Josefowicz