I attended the Wholesale & Specialty Insurance Association (WSIA) Automation conference this week. WSIA is the 2017 merger of AAMGA and NAPSLO serving the wholesale insurance markets for managing general agents, brokers, and carriers.
March 8, 2018 by chuck gomez
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March 7, 2018 by Aite-Novarica Media
Policy administration systems (PAS) replacements and expansions remain top of mind for property/casualty insurers. Carrier goals include: improving time to market, advancing business intelligence and analytics capabilities, improving customer and distributor service, increasing operational efficiencies, and eliminating technical risk and debt.
March 6, 2018 by Christine Barry
Once an afterthought, customer experience is now a focal point for not only banks but also their business and corporate customers. Customers consider it when selecting new bank partners and have higher expectations for it than ever before. Gone are the days when banks could use sophisticated functionality as an excuse for clunky, outdated systems and manual processes. Today’s customers—from consumers to corporate treasurers—are tech-savvy and in a hurry, and they expect the same type of experience whether they are on Amazon.com or their bank’s portal. As a result, when we ask commercial banks about their preferences when it comes to technology enhancements, just as many banks prefer a focus on usability as they do on functionality.
March 6, 2018 by Mitch Wein
Yesterday, AXA announced its acquisition of XL Catlin. This is just after AIG’s announcement that it plans to buy Validus. Is this the beginning of a trend? It may be. There are a lot of macro-level drivers for acquisition. These drivers include access to emerging markets, return on capital, access to underwriting expertise, and expansion to additional specialty lines of business. There are also many non-traditional competitors entering the market (e.g. cat bonds).