Report Summary:

Insurers should avoid getting swept up in the hype about Web 2.0, but should not ignore the real potential to create business value in targeted areas, a potential already realized by some of their peers.

This report draws on a survey of 23 members of the Novarica Insurance Technology Research Council, an exclusive group of insurer IT and business executives, to capture a snapshot of current practices and attitudes towards various Web 2.0 areas, with a focus on their application to key insurance areas like customer communication, distribution, underwriting, claims, and especially the general challenge of internal communication and knowledge management.

The report also includes a checklist for maximizing the value of Web 2.0 elements based on these survey results.

CONTENTS

Introduction…2
What is Web 2.0?…3
Web 2.0 in Insurance…4
AJAX…5
Blogs and Wikis…7
Social Networking…9
User-Generated Content…10
Mash-Ups…11
Cloud Computing…12
Conclusions and Checklist for Success…14
About Novarica…16