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February 28, 2023

Insurance Data Leaders Are Implementing Data KPIs

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...

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Eric Weisburg

February 23, 2023

It's All About the Experience

Insurance carriers are off to a focused start in 2023. They have painstakingly planned for the unknowns of the economy and are investing their dollars and resources into projects that will improve their overall capabilities in the years to come. In Aite-Novarica Group’s Top 10 Trends in Life, Annuities, & Benefits, we found that user experience is a major focus of insurance carriers in 2023....

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Nancy Casbarro

February 22, 2023

Grabbing the Low-Hanging Fruit for Greater Revenue at Lower Expense

Aite-Novarica Group’s Three Levers of Value framework proposes three ways insurers can create value. First, insurers can sell more. They can do so by expanding the market, serving new segments, and generating or targeting demand for products. They can also introduce new products, improve speed to market, improve brand favorability, offer better services, and engineer positive customer experiences...

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Steven Kaye

February 16, 2023

Trends in Insurance

On January 25th, 2023, I hosted the first Aite-Novarica Women’s Network meeting of the year on the topic of trends in insurance. I was joined by fellow Aite-Novarica Group Senior Principals Carey Geaglone and Deb Zawisza as well as Aite-Novarica Group’s Head of Property & Casualty Martina Conlon as we shared our perspectives on current trends in insurance for 2023. In our discussion, we...

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Nancy Casbarro

February 13, 2023

Manage What You Measure

Now that we are well into the first quarter, most insurance carriers are taking stock of finalized budgets and plans, and moving into a more focused execution mode. The planning process for 2023 was much longer than normal for many carriers as they grappled with a dynamic environment that produced potentially significant implications—frequently, diametrically opposed implications. We are headed...

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Robert McIsaac

February 7, 2023

The Urgency of Finding—and Keeping—Talent

One of the most common areas of discussion now with CIOs and CTOs in Aite-Novarica Group’s Insurance Technology Research Council is related to finding, and keeping, the talent needed to run effective operations. Technology has always been an important underpinning of the insurance industry, but the age of this tech has taken on increased urgency in the pandemic/post-pandemic era. Digitization...

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Robert McIsaac

February 2, 2023

Attracting and Retaining Talent on Purpose

The competition for talent in insurance and other industries seems to have hit fever pitch over the last couple of years. We have seen the Great Resignation, quiet quitting, and, more recently, career cushioning all contributing to the difficulty of retaining talent and knowledge in the workplace. Whatever new name is given to trends in the workforce, it is clear that attracting and...

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Nancy Casbarro

January 31, 2023

Welcome to 2023!

Happy New Year! And welcome to 2023, a year which appears to offer great promise, fascinating contradictions, and some real risks for insurance carriers as they execute in what feels like a different era. The changes we have experienced over the past three years have been profound and, in many ways, have altered our trajectory. We are, we hope, finally entering a post-pandemic era. Many...

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Robert McIsaac

January 30, 2023

Is ChatGPT Good or Bad?

Q: ChatGPT – Angelic or evil? A: Neither. If you haven’t experimented with ChatGPT, it is what computers do in the movies. Ask a question, get an answer.} ChatGPT is a tool. It is not inherently endowed with good or evil. When initially experimenting with ChatGPT, I was reminded of the first time I saw a browser or saw Java. The possibilities are clear—the initial...

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John Keddy

January 26, 2023

Lessons Learned From Southwest: Digital Isn’t a Replacement for Core

Like many other travelers this holiday season, I woke up on Christmas Eve to the notification that my Southwest flight had been canceled. The process of rebooking was straightforward; I was able to easily change my flight to a later date from my phone. For the moment, I was mildly annoyed but otherwise unbothered. Three days later, my flight was canceled again, and then my trip altogether....

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Stephanie Dalwin