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March 11, 2020
Group and Voluntary Benefits represent an area of increased interest for many carriers, including some who have traditionally operated in adjected spaces such as Individual Life Insurance and Group Health Insurance. The promise of growth is in this segment, even in light of the compressed margins on traditional Group Life / Disability products. Novarica’s recently published Business and...
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January 6, 2020
Executive leadership, especially in the insurance world, is often thought of as a distinctly male role. But there are women in power across all industries, and they are challenging assumptions and paving the way for younger women. Many of the women in insurance IT leadership roles got to where they are now via unique paths that bring unique perspectives. Path While some women have...
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August 28, 2019
Technology strategy investments in the defined contribution space must juggle prioritizing the needs of brokers and consultants, plan sponsors, and plan participants. The market is changing at the same time. DC providers contend with competition from adjacent markets—e.g., those from asset management firms, banks, and mutual fund providers—not to mention competition from other carriers....
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July 15, 2019
The insurance industry is experiencing significant change: core transformation efforts are on the rise, the demographics of the US workforce and customer base are shifting, and InsureTechs and new technologies are changing the way people engage with insurance. Having skilled and committed leaders pushing a carrier forward is always important, but it is especially critical in times of...
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July 3, 2019
Last week, approximately 20 insurance IT leaders gathered at Farm Bureau Financial Services’ corporate headquarters for the Des Moines Novarica Regional Roundtable. As participants named their most pressing industry concerns, the two issues on everyone’s mind were data and innovation. The Many Implications of Data Novarica research shows that the average insurance budget allocated to...
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January 28, 2019
Insurance is rarely the “tip of the spear” in terms of technology innovation. Yet increasingly, insurers need to be aware of broader developments in the economy and adjacent industries and carefully consider the implications for their businesses. Technology for the sake of technology is generally not a best practice, but a focus on innovation which uses leading capabilities to create competitive...
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January 17, 2019
In a bid to find success in a changing insurance landscape, CIOs have become familiar with investing in new technologies and core system replacements. However, they may want to consider investing in something closer to home—relationship-building between business and IT. Authentic business and IT alignment requires special attention to be paid towards creating a culture of open communication...
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