Blog Archive

2019

Scott Belsky, the former chief product officer at Adobe, once said about innovation: “It's not about ideas. It's about making ideas happen.”... Read More >
Fraud is an ongoing headache for the insurance industry. The Association of British Insurers reported that the industry detected 113,000 dishonest insurance claims in 2017, equating to a value of £1.3bn. The total number of detected insurance frauds, which also accounts for practices such as lying when applying for cover or ‘ghost broking’, was over half a million at 562,000.... Read More >
The value of the Internet of Things (IoT) to the insurance industry is becoming understood but there is plenty of room for even more innovation. The roots of IoT applications in insurance lie in how telematics were used to support early blackbox insurance for younger drivers. Early applications of this technology were being talked about over a decade ago on the BBC, for example.... Read More >
Towards the end of last year, I attended a major insurtech conference. As ever, the week was packed with interesting debates and stories about how technology is impacting the insurance industry and how insurers are reacting to changing customer demands. One of the key takeaways concerned the manner in which customers might soon be communicating with their insurer. Talk becomes action... Read More >
When the European Union General Data Protection Regulation (GDPR) came into effect in May 2018, we in the cyber insurance industry all wondered how zealously each national enforcement agency would levy fines for the inevitable infringements.... Read More >
The small- and medium-sized business (SMB) segment represents a compelling growth opportunity for insurers. However, due to the lack of information on small businesses, a common challenge for insurers in the small business workers’ compensation market is identifying risk differentiation between similar types of small venture entities.... Read More >
For the third consecutive year, Guidewire was a sponsor of Dig|In—the conference that focuses on digital trends and disruption in the insurance industry. Executives from insurance companies represent only about 45% of Dig|In attendees. The majority of conference attendees are from solution providers and insurtechs or are consultants and investors.... Read More >
While working on some of the biggest Guidewire projects in Germany we have experienced how the right mind-set is a crucial factor: In order to ensure that the technological potential of modern core systems is fully utilized, it is vital to promote a digital mindset in the German insurance industry or at least in the project organization.... Read More >
Integrations are an integral part of every core insurance system. The core system needs to talk to third-party applications to either consume certain information, send updates, or do a both-way sync. A successful core system implementation relies heavily on the effective contribution of the three parties: the insurer, the core system provider, and third-party vendors.... Read More >
In early June, I attended my 13th IASA Annual Educational Conference and Business Show. Every year, I walk away from the conference with a new observation about the insurance industry. One year—maybe in 2007 or 2008—it was that it was critical that insurers replace their COBOL-based systems. One year it was that the industry needed to get a handle on mobile and another year was that the industry better keep its eye on Amazon or other new possible “players” in the market.... Read More >

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