BLOGS

INSIGHTS

BLOGS

Filter By:
E.g., 2024-02-24
E.g., 2024-02-24
May 23, 2023
IT is a significant expenditure. Technology organizations are often asked to justify their spending by demonstrating the impact of IT costs on business outcomes and evaluating the effectiveness of IT investments. While IT metrics have a role to play and IT managers have a need to measure the quality and productivity of their team’s performance, these metrics are horizontal and don’t necessarily...
Read Full Post
March 9, 2023
Each year, Aite-Novarica Group identifies the top trends that will impact the insurance industry in the coming year. One sector of property/casualty insurance that we anticipate will remain at the forefront is MGAs; we also anticipate that MGA premium growth will continue to expand at a multiple of the overall property/casualty rate. Many may be surprised to learn that this channel has grown to...
Read Full Post
March 3, 2023
Data is an arms race. Competitive pressures, internal demands, and an ever-growing pool of data are driving insurers to assess their data and analytics capabilities. Traditional approaches to data management are running up against the needs of advanced analytics, artificial intelligence (AI), and machine learning. Data privacy concerns and regulations place additional hurdles on data resource...
Read Full Post
February 28, 2023
It’s safe to say that data is important to an organization. People understand that data is valuable, but it’s hard to measure that value because it’s based on how you use it, what insights you gather from it, and how you act on those insights. Data can help you identify growth opportunities, find profitable niches, understand why portfolios perform the way they do, and target high-value prospects...
Read Full Post
November 23, 2022
On Thursday, October 27th, I hosted the Aite-Novarica Data and Analytics Special Interest Group meeting along with my colleagues Martin Higgins, Senior Principal, and Stuart Rose, Strategic Advisor. Special Interest Group Meetings are exclusive opportunities for Aite-Novarica Group clients and Insurance Technology Research Council members to review recent trends and Aite-Novarica Group Insurance...
Read Full Post
June 2, 2022
In the never-ending game of bigger fish eating smaller ones, Broadcom recently announced its intention to acquire VMware for US$61 billion in one of the largest tech deals of all time. You may be familiar with Broadcom as a chip manufacturer, but the company is tripling down on its commitment to the software business. This shift in focus began in a major way with its 2018 acquisition of CA...
Read Full Post
September 8, 2021
Every insurer today is conscious of potential security exposures. Third parties are a significant source of exposure as infamously demonstrated by Target’s 2013 data breach, which cost the retailer $292M in cumulative expenses. Corporate governance and regulators demand that this issue be a priority that is taken seriously.   This is manifest in the ever...
Read Full Post
September 1, 2021
Many specialty insurers are transitioning their systems to the cloud. We spoke with several CIOs during last month’s Special Interest Group meeting on Specialty and Large Commercial, and they had a lot to say about what to transition to the cloud, when, how, and what a successful IT project looks like. Transition to (multi-)cloud and costs Specialty insurers are in the process of...
Read Full Post
July 20, 2021
Almost all commercial lines CIOs are working on multiple IT initiatives, but some common themes emerged at Novarica’s recent Special Interest Group Meeting on commercial lines. Several CIOs are focusing on technology and efficiency improvements, including consolidation, enhancement, or replacement of core policy admin systems. Several are also aiming to grow their commercial lines business by...
Read Full Post
April 21, 2021
Data is a powerful and valuable asset for any insurer, and the industry has a long history of drawing upon third-party data providers to enhance underwriting decisions and marketing strategy. These data providers may operate across industries, with insurance as one of several verticals, or be focused on the insurance industry and its needs. The need for substantial data sources to...
Read Full Post

HOW CAN WE HELP?

If you have a question specific to your industry, speak with our experts.  Call us today to learn about the benefits of becoming a client.

Receive email updates relevant to you. Subscribe to entire practices or to selected topics within practices.