Retirement Plan Insurers Expanding Mobile and Social Capabilities

Retirement Plan Insurers Expanding Mobile and Social Capabilities

- Novarica

In the battle for market share in the defined contribution retirement plan space, insurers are expanding mobile and social media capabilities to help attract, retain and profitably serve clients, according to a new report from Novarica, a research and advisory firm focused on IT strategy.

Here’s One Way Insurer CIOs Can Prepare For a Digital Transformation

Here’s One Way Insurer CIOs Can Prepare For a Digital Transformation

- Novarica

With insurers facing an ever-increasing use of technology in their daily activities, the pressure is on for chief information officers to anticipate both current and future needs – for the companies they represent and the customers they hope to keep.

Committee Named to Select the Most Impactful Technology Initiatives by Insurers

Committee Named to Select the Most Impactful Technology Initiatives by Insurers

- Novarica

IT executives from some of the biggest names in the insurance industry have been named to a committee that will nominate the most impactful technology initiatives undertaken by insurers. The senior IT Execs that make up the newly formed Nominating Committee for the 2015 Novarica Research Council Impact Awards are from AIG, Encompass, Great American Insurance Group, MetLife, Patriot National, and Penn Mutual.

The Way Forward: Insurance in an Age of Customer Intimacy and the Internet of Things

The Way Forward: Insurance in an Age of Customer Intimacy and the Internet of Things

- Matt Josefowicz

A new global survey of executives was conducted by The Economist Intelligence Unit (EIU) in June 2014 and sponsored by SAP. The EIU asked 338 executives at life and property/casualty insurers to weigh in on future changes in their industry. The respondents were selected for their ability to provide an informed, high-level view of the future of insurance.

User Experience Matters. Really.

User Experience Matters. Really.

- Rob McIsaac

For insurers, the lesson is clear: improve the user experience by streamlining processes, or consumers will simply walk away.

Cloudy With A Chance of Privacy

Cloudy With A Chance of Privacy

- Tom Benton

Insurers are coming to grips with security concerns about the cloud as they gain more familiarity with the technology and institute new best practices.

Workers’ Comp Writers Using More Mobile Device Apps, Other Technology

Workers’ Comp Writers Using More Mobile Device Apps, Other Technology

- Novarica

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. Their hope, Novarica said, is that these high-tech bells and whistles will help them reduce losses and boost returns in what remains a highly competitive sector.

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

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

- Novarica

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.

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