Menu

Log in

Business and Technology Trends: Personal Lines

Published: May 2017

Non-Client Price: $1,950

Download PDF Download Preview

Download PDF It looks like you do not have free access to this report. Click Here to Buy or For More Information.

Summary

Personal lines carriers are focusing on InsureTech companies to diversity R&D efforts, analytics, mobile platforms, and core systems upgrades to remain competitive. Personal lines continues to be a competitive sector with technology playing an ever larger role in insurers’ ability to attract, retain, and profitably serve clients, agents, and brokers.

This report provides an overview of personal lines carriers’ business and technology issues, data about the marketplace, and 72 examples of recent technology investments by personal lines insurers.

personal_lines_btt

KEY POINTS AND FINDINGS

  • Self-service and transactional capabilities matter. Agent and customer portals continue to be viewed as key elements of acquiring and retaining customers.
  • Predictive analytics continue to be used across the enterprise. Analytics are being applied to many aspects of the insurance process beyond pricing and loss prediction.
  • Effective and efficient core system workflows are vital to lean operations and rapid product launch. Carriers that have completed these investments are accelerating expansion of their digital and data capabilities.

 

TABLE OF CONTENTS

Introduction………………………………..3
Market Overview………………………………..4
Insurer Landscape………………………………..9
Top Core Application Issues………………………………..10
Front End………………………………..13
Core Systems………………………………..18
Financials………………………………..23
Documents………………………………..24
Business Intelligence………………………………..26
Workflow/BPM………………………………..27
Specialized Components………………………………..28
Top Technology Priorities………………………………..29
Next Steps and Related Research………………………………..30
About Novarica………………………………..31

  • Tagged:
  • Business and Technology Trends
  • , Personal Lines