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Since the recent publication of our research on IT value metrics, I’ve had numerous conversations with insurance IT executives about the topic.
As one of the largest and most intangible expense areas for insurers, IT departments often have difficulty demonstrating the value of their expenditures.
I attended a portion of the EY Insurance Executive Forum with this year’s theme of “Thrive on Disruption” last week in New York City.
As a long-term technologist, I’m fond of pointing out that I’m most definitely not an actuary, nor have I ever played one on TV.
A recent article discussing 3Q annuity sales from Insurance News Net raised two key points.
Insurers are continuing to invest in InsureTech in a variety of ways, working out how to best leverage the financial and technological growth of this emerging marketplace.
It is important for CIOs to understand how different accounting practices impact and change the picture that the CFO sees when first looking at the IT budget as part of the planning cycle.
JD Powers’ latest report on US Auto Claims Satisfaction confirms that 9-12% of auto claims begin online through a phone or computer, a finding that many articles about the study frame as a disappointing adoption rate given the amount invested in these capabilities.
Given WC insurance’s high sensitivity to state regulation with an assortment of mandated rates and benefits, carriers are under increased pressure to drive down the loss ratio and maximize profit.
One of the interesting things about the new insurance track of the NY FinTech Innovation Lab is how many of the partnering insurance companies already have their own InsureTech funds or participate in funds elsewhere.