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Top 10 Lessons Learned: Past Insurance Innovation Pivots

July 20 2017 | Deb Smallwood

Some of the best innovation success stories are built out of the lessons learned from watching the attempts of others as they either falter or flourish. SMA regularly works with insurers and studies their innovation approaches, behaviors, and initiatives across insurance and many other industries.

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In the Core Systems Hourglass, the Sand Is Falling Faster

June 15 2017 | Karen Furtado

The core systems replacement cycle is speeding up. Twenty years ago, even if you spent your entire career working at the same insurance company, you might have to go through the implementation of a new core system once, maybe twice.

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Insurers Are Catching the Innovation Wave

June 13 2017 | Karen Furtado

As the June 30 deadline approaches for this year’s SMA Innovation in Action Awards, I’m looking forward to seeing the innovative strides that insurers and solution providers have made in the past year. The market is changing so quickly that adaptability is key.

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InsurTech and Commercial Lines: Out from the Shadows

June 08 2017 | Mark Breading

At times, it seems like InsurTech is around every corner, with new startups materializing every day, conferences emerging out of nowhere, and accelerators doing their job of accelerating. Generally, there’s just a lot of news and noise about the phenomenon.

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Micro or Macro-Insurance: What’s It Going to Be?

May 24 2017 | Mark Breading

The concept of micro-insurance has been around for a long time, and the activity in that area is now increasing rapidly, especially due to the InsurTech movement. Pervasive mobile and digital capabilities along with cloud computing have made it much easier to insure a wide range of individual events, activities,...

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Telematics: A Claims Adjuster’s New BFF

May 23 2017 | Karen Pauli

Nobody can have too many BFF’s (that’s best friends forever in today’s texting-driven vernacular).  That statement goes double for claims adjusters who are frequently seen as “bad guys” because of all the difficult-to-understand complexities of the adjusting process.

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The Allure of an Un-Connected World: What It Means for Insurers

May 01 2017 | Mark Breading

Late in the 18th century, at the dawn of the Industrial Revolution, a young mechanic named Ned Ludd became famous for destroying two machines. His actions spawned an anti-technology movement that lasted into the early 19th century.

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Global Insurance Symposium Observations: A Model for Collaboration

April 27 2017 | Mark Breading

The Global Insurance Accelerator, based in Des Moines, Iowa, has just participated in the fourth Global Insurance Symposium. Two of the big takeaways are that the InsurTech movement is maturing, and there is indeed convergence happening between the traditional industry and the entrepreneurial startups that have new ideas and business models.

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E-Commerce Transforms Retail … and Risks

April 27 2017 | Mark Breading

The April 2017 issue of Business Insurance Magazine features a cover story on the retail industry, and how the move to e-commerce is changing the risks faced by the insurance industry. The articles include “Retail caught flat footed by e-commerce,” and “Web revolution creates new era for retail risk management.”...

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What Does Innovation in Action Look Like? The Opening of SMA’s Annual Awards Program

April 24 2017 | Karen Furtado

If you were trying to communicate “innovation” in a game of charades, how would you do it? What would it look like? We talk a lot about innovation throughout our industry and across the wider digital world, but do you have an example that insurers are doing right now that...

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