We recently published the Novarica New Normal 100, for P/C and L/A, which covers 100 digital, data, and core capabilities for insurers across eight functional areas: product development, marketing, distribution, underwriting, customer engagement, billing, claims, and finance/operations.
The insurance industry is awash with change, growth, and evolution. The catalysts are an increasingly consumer-driven market and insurance carriers’ need to improve profitability. The insurtech community is evolving in parallel with the industry in its aim to support this new, unchartered journey. You can’t turn your back lest you miss hearing about a new startup solution’s changes or successes. It isn’t enough to keep your eye on the new shiny stuff that comes out; you have to watch the evolution of each startup, as odds are all carriers will have a need at some point. Making it even more challenging to pick the winners, mature solution providers are evolving and partnering with insurtech companies to create even better solutions.
As a healthcare analyst, a health plan member, and occasionally a patient, I wear multiple hats. So part out of professional curiosity and part for personal interest, I probed around a number of health plans and their benefits administrators in the industry to see for myself what their member experience was like, beyond their marketing page. What I uncovered fell short of what I was hoping to find.
