Workers’ Comp Writers Using More Mobile Device Apps and Other Tech Advances

Workers’ Comp Writers Using More Mobile Device Apps and Other Tech Advances

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Workers compensation insurers are increasingly turning to mobile device applications and other technology innovations in their bid to remain a force in the industry and serve their clients, Novarica determined in a new report.

Insurers Struggle to Correct Admitted Customer Experience Deficit – Novarica Study

Insurers Struggle to Correct Admitted Customer Experience Deficit – Novarica Study

- Tom Benton

Insurers recognize that policyholders’ and prospects’ customer experiences are shaped by companies such as Apple, Google and Amazon and that their own capabilities still fall short, according to Insurer Plans for Customer Experience, a new Novarica report sponsored by GMC Software as part of the research and advisory firm’s Research Partner Program. While insurers generally see the need to improve the customer experience, they are still hampered by…

Break Out the Gold Watch

Break Out the Gold Watch

- Rob McIsaac

Annuity carriers have come to the realization that their policy systems — some a half-century old — hinder performance and cost them customers.

Former AXA, AIG CTO Joins Novarica as Principal

Former AXA, AIG CTO Joins Novarica as Principal

- Novarica

Mitch Wein, former CTO of AXA UK, AXA Equitable and AIG Domestic Brokerage group is joining Novarica’s insurance practice as a principal based in the research and advisory firm’s New York office, starting on Nov. 1.

6 Key IT Segments that Insurers will Enhance in 2015

6 Key IT Segments that Insurers will Enhance in 2015

- Novarica

More than 50% of insurer CIOs are planning to upgrade reporting, data repositories and analytics capabilities in 2015, according to Novarica’s “U.S. Insurer IT Budgets and Projects 2015,” a survey of 88 insurer CIOs.

Novarica: 40% of Insurers Planning Policy Revamp in 2015

Novarica: 40% of Insurers Planning Policy Revamp in 2015

- Novarica

Insurers are working hard on data, ease of business, and policy administration projects, according to Novarica’s “US Insurer IT Budgets and Projects 2015″ report, which surveyed 88 insurance technology leaders in P&C, life, and annuities.

The Challenge of Analytics Integration

The Challenge of Analytics Integration

- Matt Josefowicz

“There’s a tremendous amount of activity in analytics in insurance,” explains Matt Josefowicz, managing director at Novarica. “In terms of usage in small business, that’s definitely a focus area since small business has relatively tight margins.”

European Insurance Software Market Heats Up with Open GI/PowerPlace MBO

European Insurance Software Market Heats Up with Open GI/PowerPlace MBO

- Catherine Stagg-Macey

The deal follows Xchanging’s acquisition of Agencyport Europe and Total Objects and HG Capital’s acquisition of Sequel Business Systems.

What IBM-Apple Partnership Really Means for Businesses

What IBM-Apple Partnership Really Means for Businesses

- Tom Benton

For insurers, the connection with apps and their legacy core systems and mobile strategies are areas of concern. “Many insurers are struggling with mobile strategy and the IBM/Apple partnership should be of interest to those seeking solutions in their 2015 budget planning,” says Tom Benton, a principal in the insurance practice at Novarica.

Portals and BI Crucial to Individual Annuity Industry

Portals and BI Crucial to Individual Annuity Industry

- Robert McIsaac

Consolidation and fluctuating returns have complicated risk management, creating new technology priorities for insurers, according to Novarica study.

No Disruptions in Spending

No Disruptions in Spending

- Matthew Josefowicz

Despite the increased focus on technology, carriers still base their IT spending on a percentage of premium dollars.

Novarica Report Reveals Time and Cost Advantages Using ISO Electronic Content

Novarica Report Reveals Time and Cost Advantages Using ISO Electronic Content

- Chad Hersh

A new industry report by Novarica reveals several time and cost advantages for insurers that use electronic content from ISO. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics (Nasdaq:VRSK).

Telematics is the New Battleground

Telematics is the New Battleground

- Matthew Josefowicz

Mobile consumer applications have now become commonplace in the personal lines insurance business, and the top technology initiatives among personal lines insurers include agent and customer portal enhancement, business intelligence and core system upgrades or replacements.

ValueMomentum Launches BizDynamics™ To Drive Customer-Centricity for Insurance Carriers

ValueMomentum Launches BizDynamics™ To Drive Customer-Centricity for Insurance Carriers

- Chad Hersh

“As insurers recognize the importance of the agent and customer experience and put additional emphasis on the ease of doing business with both, insurance focused CRM is likely to grow in importance. These types of tools can be used to empower marketers, producers, customer service representatives and field operations teams to effectively deliver differentiated experiences to agents, brokers and customers to drive profitable growth and retention,” said Chad Hersh, Managing Director at Novarica.

SaaS/Hosted PAS Projects More Numerous

SaaS/Hosted PAS Projects More Numerous

- Matthew Josefowicz

While the fact that insurers continue to show interest in policy administration system projects may not be surprising, that they’re opting for SaaS or hosted solutions is, according to Novarica’s recent reports.

Competitive Advantage Through Analytics

Competitive Advantage Through Analytics

- Martina Conlon

Insurers have many opportunities to leverage advanced analytics across the enterprise, including underwriting, claims and marketing. But without a solid foundation, analytics can overwhelm companies that have yet to get the most out of structured enterprise data.

Building An Analytic Culture

Building An Analytic Culture

- Martina Conlon

The winds of change are ruffling the insurance industry as senior business and IT leaders have committed to remaking their business with big data and analytics and becoming truly data driven organizations.

Competitive Advantage Through Analytics

Competitive Advantage Through Analytics

- Martina Conlon

Insurers have many opportunities to leverage advanced analytics across the enterprise, including underwriting, claims and marketing. But without a solid foundation, analytics can overwhelm companies that have yet to get the most out of structured enterprise data.

Data Driven

Data Driven

- Martina Conlon

“Demand for data scientists and data analysts has always been strong in the sector but it’s even stronger now that the buzz of big data is out there”

After Telematics: What Smart Homes Mean for Insurance Product Innovation

After Telematics: What Smart Homes Mean for Insurance Product Innovation

- Chad Hersh

As smart home technology evolves, insurers may have the opportunity to utilize real-time machine-to-machine (M2M) communications for the assessment of risk and prevention of loss.

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