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May 2, 2023

Speed Thrills

We live in a time of amazing changes, both in terms of technology and the economic environment around us. These changes create new opportunities as well as significant threats for insurance carriers, which may well be the operational equivalent of deciding if a glass is half full…or half empty. Opportunity and threats are, in reality, opposite sides of the same coin. I recently had the...

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Robert McIsaac

Commercial Banking blog and Insurance blog

April 28, 2023

Tech Startups in Commercial Banking and Insurance, Part 3: How Analyst Firms Can Help

Aite-Novarica Group advisors Stephanie Dalwin and Gilles Ubaghs have no shortage of experience working with technology startups in their respective verticals. In part one and part two of this three-part series, Stephanie and Gilles discussed key issues facing technology startups in their areas of coverage. Technology vendors in commercial banking and insurance are experiencing...

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Benjamin Nestor

April 24, 2023

Back to the Future?

Most people remember Michael J. Fox’s starring turn in the bit of Hollywood magic that highlights a 30-year jump back in time, landing him in the 1950s, before space travel, the Beatles, and pervasive computing of any kind. Today, a similar leap would take us to the dawn of the internet era, a world when client-server computing was at its zenith and some questioned the future viability of Apple...

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Robert McIsaac

April 19, 2023

Mentoring in Insurance

On March 29th, I hosted the Aite-Novarica Women’s Network meeting on the topic of mentoring in insurance. We were joined by Lori Bernier (AVP of Group Protection Technology Strategy and Planning, Lincoln Financial Group), Lindsay Bottari (Senior QA Test Engineer, Electric Insurance Group), and Melissa Hunting (Project Manager, Global Indemnity) who shared their perspectives on the value of...

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Deb Zawisza

April 17, 2023

Straight-Through Processing in Underwriting and Claims

Straight-through processing (STP) is often among insurers’ top goals for leveraging technology to improve efficiency for property/casualty and life/annuity/benefits insurance. STP offers insurers benefits in speed, consistency, and productivity, enabling them to support greater transaction and application volume without increasing headcount. Automated resolution of simple business frees up...

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Harry Huberty

April 11, 2023

Tech Startups in Commercial Banking and Insurance, Part 2: Solutions and Partnerships

Aite-Novarica Group advisors Stephanie Dalwin and Gilles Ubaghs have no shortage of experience working with technology startups in their respective verticals. In part one of this three-part series, Stephanie and Gilles discussed key issues facing technology startups in their areas of coverage. Technology vendors in commercial banking and insurance are experiencing shifting market conditions,...

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Benjamin Nestor

April 10, 2023

Good Risk Management

As we cross into the second quarter of 2023, it’s clear that the insurance industry will be facing a series of both challenges and opportunities in the near future. Thoughtful business planning is going to be required to identify the strategies needed to navigate a period of economic uncertainty, demographic shifts, and technological transformation that can at times be dizzying in its complexity...

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Robert McIsaac

April 4, 2023

Individual Life Insurers Must Pursue Holistic Agent and Customer Experiences: Digitalization Is Not Enough

Individual life insurance carriers are more open to greenfield policy administration system (PAS) deployment for new lines of business or new products, rather than launching on existing platforms. Carriers are waking up to the importance of customer experience from the perspective of both the policyholder and the producer. Automation and digitalization of processes are still necessary, but so are...

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Steven Kaye

April 3, 2023

Trends in Emerging Technology in Insurance: Deployment Rates and AI

Insurers regularly experiment with emerging technologies to find more efficient and effective ways to manage information, workflow, and risk. On Thursday, March 16, I hosted Aite-Novarica Group’s webinar Emerging Technology in Insurance for 2023, along with my colleagues Head of Property & Casualty Insurance Martina Conlon and Senior Principal John Keddy. Our discussion centered on...

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Harry Huberty

March 30, 2023

Tech Startups in Commercial Banking and Insurance, Part 1: Problems and Challenges

The evolution of technology has reshaped many aspects of both the financial services and the insurance industries, and there is no indication that this growth will slow down any time soon. Whether a startup calls itself a “fintech” or an “insuretech” firm, its market is evolving. Recent events have shown that the “disruptors” can also be the “disrupted” through broad market forces and challenges...

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Benjamin Nestor