Viewing entries written by Mark Breading
Life and Annuity Insurers Investing in Customers and Core
We’ve just released a new research study, identifying the top 10 business application projects and the top 10 technology projects for L&A insurers. The study, 2014 Insurance Ecosystem: L&A Insurer Business Applications and Technology Projects, is based on a survey of insurers in North American representing all lines of business...
Insurance IT Spending Continues Upward Trend
We’ve just completed our fifth annual ecosystem research study, 2014 Insurance Ecosystem: Insurer Technology Spending, Drivers, and Projects, and it is worth some reflection on how things have changed over the last five years. In general, the investments in technology tend to follow the state of the economy and the...
Customer Experience Energy - SMA Prediction for 2014
It’s no secret that insurers are increasingly focusing on improving the customer and agent experience. Over the last two years, we have witnessed new executive appointments and many strategy projects related to the customer and agent experience.
The Top 5 Next-Gen Tech Trends in Insurance
Next generation technologies play a vital role in insurers’ strategies and plans. Far from being an intellectual pursuit or an interesting trend in other industries, many insurers view advanced technologies as critical to satisfying the needs of customers and agents, running an efficient and profitable business, and providing a competitive...
Differentiate: Look to Other Industries to Gain Advantage
Aside from gaining market edge among insurance competitors, look to outside industries to gain best practices for advantage within. At our recent SMA Summit: Innovate for Advantage, I facilitated a panel discussion on Customer Experience with Hugh Anderson, Senior Industry Principal, SAP Financial Services/Insurance; Brian Piccolo, Director, Digital Strategic Services...
Telematics and Agents: Like Water and Oil?
Much has been written and debated about usage-based insurance, enabled by telematics technologies. But one aspect of the conversation that has been largely ignored concerns the implications for agents and brokers. The vast majority of P&C companies in the US use the independent agent distribution channel, and Canada is even...
Study Shows Increased Spending on Data and Analytics Continues in 2013
There is no question that analytics projects are viewed as game-changers, but insurers also see the need to focus on improving and enhancing their data to fully capitalize on the power of analytics. I’ve recently seen that confirmed through our second annual Data and Analytics study done in conjunction with...