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Viewing entries written by Karen Furtado

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The Impact of One Word on the Industry: Transformation

June 14 2018 | Karen Furtado

Have you ever found yourself hearing a word so frequently that it begins to lose its meaning? At SMA, we find this to be true with the word “transformation.” It is often used interchangeably with modernization, but in reality, they mean two very different things.

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Cloud Takes a Starring Role in the New Core Systems Paradigm

May 31 2018 | Karen Furtado

Eight years ago, I was giving a talk on cloud at a conference. The first thing I had to do was explain what the cloud is. It’s a new world, isn’t it? Cloud is no longer for the digital giants, the InsurTechs, and the early adopters.

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When “Modern” Isn’t Enough: Personal Lines Core Systems for the Digitally Native

May 22 2018 | Karen Furtado

Insurers, I have some good news and some bad news. Insurers have made tremendous progress in core modernization, actively purchasing and implementing new core systems and beginning to adapt their businesses to take full advantage of modern core systems’ capabilities.

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Convergence in Action: InsurTechs Meet Tech Incumbents in Core

May 15 2018 | Karen Furtado

One of the most pressing questions that has arisen from the InsurTech movement is this: Will InsurTech startups have a need to utilize the incumbent tech market’s capabilities? In the past three years, startups have been actively partnering with other startups, insurers, and tech incumbents.

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Innovation, Optional? Not Anymore

April 24 2018 | Karen Furtado

Innovation was not a word commonly used within insurance companies seven years ago. The good news – the world has changed! Innovation is now flourishing throughout the insurance industry. Since Strategy Meets Action founded the SMA Innovation in Action Awards for insurers and solution providers in 2012, innovation has assumed...

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Innovation in Action: Advanced Telematics and Artificial Intelligence

October 12 2017 | Karen Furtado

Solution providers are quickly advancing innovative approaches to the next generation of emerging technologies that are impacting both insurers and policyholders. SMA has acquired a unique historical view of how solution providers are innovating within insurance through our annual SMA Innovation in Action Awards – and we have seen how...

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Innovation Maturing Into Meaningful Impacts

October 03 2017 | Karen Furtado

Maturity in innovation means the innovative approaches taken by companies throughout the ecosystem are becoming more comprehensive and systematic. SMA has acquired a unique historical view of innovation in insurance through our annual SMA Innovation in Action Awards – and we have seen how it has changed over the six...

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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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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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