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E.g., 2022-12-08
E.g., 2022-12-08
April 28, 2022
Recently, we had the opportunity to facilitate a Special Interest Group meeting focused on annuities. Our Special Interest Groups are confidential knowledge-sharing meetings where our team can share recent research results and participants can discuss industry trends in specific lines of business. The latest session on annuities involved a diverse group of senior leaders diving into a broad...
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March 17, 2022
Policy administration systems (PAS) are known as “core systems” for good reason—as the backbone of the insurance carrier, no department’s processes are untouched by the PAS’s features, functionalities, and problems, or lack thereof. As the functionality gap between continuously updating cloud solutions and legacy systems continues to widen, it becomes more important than ever for insurers to...
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March 15, 2022
Earlier this year, we wrote a blog post exploring the debate over direct to consumer (D2C) vs. traditional agent from a distribution perspective. In that post, we postulated that this debate leads to a false dichotomy between the idea of human beings doing traditional things like taking applications vs. the concept of going all digital with no human involvement. We opined that the real action...
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March 10, 2022
In a study conducted not long before the pandemic, Aite-Novarica learned that roughly half the time insurance carrier boards of directors spend on IT-related issues is dedicated to security-related topics.  This marks an interesting contrast with the roughly 10% of IT spending noted in our latest Budgets and Projects reports that gets dedicated to specific security-related concerns. So the...
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February 24, 2022
During the pandemic, Aite-Novarica Group has been very involved in discussions as companies contend with workforce strategies to address topics such as remote work, hybrid work, “work from anywhere,” and other challenges. Typically, our view is strategic and from a broad organizational perspective. However, in this blog I will be delving into a specific discipline where the problem is especially...
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February 14, 2022
Over the past several years, there has been noticeable debate within the world of life/annuity distribution. In one camp are the traditionalists, who have sentiments such as “life insurance and annuities are SOLD—not bought” and “complex products will never be sold online.” In the other camp are the direct-to-consumer (D2C) players, who view this thinking as prehistoric and believe it proves...
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January 24, 2022
On Sunday of the long weekend honoring Dr. Martin Luther King Jr., I was notified that school had been cancelled for Tuesday and Wednesday due to COVID-19 cases affecting both students and staff. You may be thinking, as I did, “You mean going remote.” No, the district meant cancelled. I was surprised by this communication; I thought that because of technology options, the experience of...
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January 13, 2022
There is no doubt that the Great Resignation is occurring. The voluntary resignation rate continues to rise, reaching another record level in November. But how did we get here? Aite-Novarica has observed that the Great Resignation did not emerge out of thin air. The “Great Disconnect” is one of the causes. The Great Disconnect is revealed by the “role reversal” in many corporate debates....
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January 6, 2022
Aite-Novarica Group has been actively covering work from home, return to office, work from anywhere, hybrid work models, and similar workforce-related themes since the pandemic began. For the leading North American financial services firms Aite-Novarica works with, interest in these areas continues to grow. Part and parcel of the discussion is recruiting and retention. One of the themes that...
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December 9, 2021
On December 7th, AWS experienced a widespread outage. When large public cloud providers have widescale issues, there can be, in non-technical terms, two results. The first is a widescale incident where customers realize they are essentially out of business. The second case may not be as broad, but several services are down. The first one is terrible, but at least there is one element of clarity:...
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