The Future of Insurance: Thirty Years’ Change in Three Years?
"The insurance industry will change more in three years than in the last 30, and the disruption that is about to hit us won’t take that long to change the landscape," said Pranav Pasricha, CEO of Intellect SEEC and Carrier Management contributor. The drivers are, not…
How to Earn Homeowners Insurance Satisfaction
It's one thing to wish for customer satisfaction. Quite another to earn it. No wonder satisfaction has become the subject of countless marketing strategies and think pieces, especially as the marketing focus across industries has shifted from product to experience.
Driverless Regulations: Are Safety Standards Keeping Pace?
Last year, Business Insider predicted 10 million driverless cars on the road by 2020. Now that we're winding down the year, with 2018 just around the corner, how far have self-driving cars driven toward that milestone? It's time for another autonomous car roundup.
Better Insurance Software Decisions 505 - Avoid the Perfection Trap
So, you're planning to ditch your legacy system and invest in new insurance software. Good move. And you want to be confident that the system you choose is the right fit. Smart. In fact, you'd be willing to wait longer for rollout if you were sure that once it did go live, it would…
Better Insurance Software Decisions 404 – Avoid the Assumption Trap
So, you've identified what you need from your next insurance software solution. After doing your research, you've chosen a vendor. Finally, you've made your buying decision. Congratulations!
Now it's time to cover the most common post-purchase tech decision pitfall: the assumption…
Better Insurance Software Decisions 303 – Speed Trap Ahead
People say you shouldn't live in the past. Yet where software deployments are concerned, it's all too common for companies to need it done yesterday.
The wish for instant solutions is understandable. Putting out fires is a common challenge for business leaders, according to…
Are Extreme Weather Events Changing the Insurance Industry?
Ten years after Hurricane Andrew "tore a swath of destruction through Florida" in the early nineties, Sandy Smith at EHS speculated that if a category 5 hurricane were to hit Florida in 2002, the costs at that time would measure twice as high – from Andrew's $15.5 billion to a…
Harvey and Irma: Is Insurtech Weathering the Test?
Insurance has seen a lot of disruption over the last couple decades. Those innovations have brought profound benefits to both policyholder and insurer during times of relative stability – but how do they fare during regional crises?
Here in the wake of Harvey and Irma, we're…
Better Insurance Software Decisions 202 – How to Avoid the DIY Trap
In our last post, we talked about how to avoid the IBM trap – choosing a provider based simply on brand equity and getting stuck with a lesser product as a result. As we've seen, big brands aren't the only ones that can win best in show, and when making a buying decision, it's…
Better Insurance Software Decisions 101 – How to Avoid the Brand Trap
"No one ever got fired for choosing IBM." So the saying went. Way back in the ancient history of digital technology (ahem, the 70s and 80s), business teams rode heavily on brand equity when making IT decisions – specifically IBM brand equity – not because they had done a…
AI: The Next Big Thing in Insurance Big Data (part 2 of 2)
In an earlier post, we explored the potential impacts of artificial intelligence in big data for the insurance industry. We discussed that unlike analytics and business intelligence systems, AI isn't just looking back, drawing conclusions from what's already happened. It's also…
The Next Big Thing in Insurance Big Data (part 1 of 2)
Data is everywhere. But it's not useful if you don't know what it means. For the insurance industry, AI is poised to shed some light. What is AI, exactly? "'Artificial intelligence' is a slippery term that can mean everything from personal assistants like Siri, to the natural…