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November 29, 2021

Digital and Talent Top Insurer Priorities for 2022

Insurer budgets and priorities for 2022 look like those of prior years, but they also reflect adjustments to competitive and market changes the pandemic has brought. In most cases, insurers are adapting by placing additional focus on things that have been priorities for a long time. I recently had the opportunity to emcee an Insurer Client Virtual Panel webinar session to present findings from...

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Harry Huberty

November 18, 2021

New Vaccination Requirements Emerge as Part of Pathway to a Post-Pandemic Era

Recently, the Biden administration released a summary of its new rules for vaccination and testing at businesses with more than 100 employees. This new rule was previously announced in early September and is being implemented as an Emergency Temporary Standard (ETS) under the purview of the Occupational Safety and Health Administration (OSHA). The ETS indicates that employers must comply with...

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Harry Huberty

October 21, 2021

Recipes for Success From Our Impact Award Winners

During last week’s Client and Council Member Virtual Panel, Aite-Novarica Group Head of Life Insurance, Annuities, and Benefits Rob McIsaac and I were joined by four winners from this year’s Research Council Impact Awards. Each of our panelists was the leader of an insurance technology project recognized by ANG’s Insurance Technology Research Council as exemplary in generating real business...

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Harry Huberty

September 22, 2021

New Vaccination Requirements and Insurer Return-to-Office Plans

As the delta variant has contributed to rising COVID-19 cases in many regions of the country, insurers have been delaying or redesigning their return-to-office (RTO) plans. Those plans must now change further to take a new factor into account: vaccinations. On September 9, the Biden Administration announced that all businesses with 100 or more employees must ensure that their workers are...

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Harry Huberty

August 30, 2021

CIO Profile: Deepika Srivastava

Deepika Srivastava is SVP, chief information officer, and chief information security officer at The Doctors Company Group, the nation’s largest physician-owned provider of insurance, risk management, and healthcare practice improvement solutions. She is responsible for TDC’s enterprise-wide information technology...

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Harry Huberty

March 24, 2021

Straight-Through Processing of Today

Straight-through processing (STP) is becoming more common in insurance underwriting and claims, and it is likely to remain a priority for insurers seeking to improve the ease of doing business for their distribution partners and create more convenient customer experiences for their policyholders. Generally speaking, STP refers to insurers’ ability to automatically process transactions...

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Harry Huberty

March 16, 2021

Self Service Is on the Rise, Following Digital Enablement and Direct Sales

Self-service transaction and digital payment utilization rates vary significantly across the insurance industry by line of business and persona. Novarica recently surveyed our Research Council on self-service utilization rates for agents and policyholders across seven lines of business. Our findings are consistent with an industry where increasing expectations for digital experience are...

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Harry Huberty

February 25, 2021

Putting Emerging Technology into Practice

How long it takes a technology to catch on with insurers can depend on several interrelated factors. These factors include how easy the technology is to deploy, how long it takes to develop expertise and understand its use cases, how much value it creates, and how apparent that value is. Technologies that can be mapped onto existing processes often see the most rapid adoption. Robotic...

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Harry Huberty

February 16, 2021

Personal Lines Carriers Have Successes and Challenges with Emerging Technology

Insurers are experimenting with emerging technologies in 2021, and personal lines carriers, as they often do, are leading the way in innovation. It’s usually easy to theorize the value that new technologies can provide to insurers, but implementing and using those technologies can involve unforeseen challenges. That’s one reason Novarica regularly hosts Special Interest Group meetings...

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Harry Huberty

February 8, 2021

How Emerging Technologies Mature in Insurance

Although insurers are always investing in and exploring new tools, technologies can take several years to go from “emerging” to “mainstream.” Even technologies like artificial intelligence (AI) and big data, which insurers have long understood to have value for understanding risks and customers more effectively, still aren’t ubiquitous. Novarica closely studies how insurers in our Research...

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Harry Huberty