Insurance Technology Case Study Compendium 2018

Report Summary

Insurance Technology Case Study Compendium 2018

Matthew Josefowicz
Head of Research Councils and Advisor to the CEO

June 2018 - Novarica’s seventh annual case study compendium includes more than 30 detailed examples of IT initiatives that delivered real business impact.

Each case details business goals, project sponsors, team structure, project timeline, tools and technology used, challenges faced, success factors, and business results delivered.

Novarica Impact Awards, voted on by more than 50 CIOs, recognized winners in four categories: digital, data/analytics, core, and IT practice or infrastructure.

2018 Winners

  • Allstate for use of drone imaging in claims (data and analytics)
  • Ameritas for its cloud/API layer to enabled external app (IT practice or infrastructure)
  • AXIS Insurance for its enterprise transformation project (core)
  • Chubb for its agent portal and STP capability built on microservices (digital)
  • MetLife for its use of machine learning to optimize personal auto underwriting (data and analytics)
  • Pekin Insurance for its enterprise transformation program (core)
  • Penn Mutual for its digital life insurance experience (digital)
  • XL Catlin for its digital innovation practice (IT practice or infrastructure)

Key Points and Findings

 

Cloud, microservices, and AI are playing a bigger role in a wide variety of initiatives that are creating real, short-term business value in all four categories.

Core systems transformations may be challenging, complex, and in many cases lengthy projects, but they are leading to real advances in speed and efficiency and are supporting growth in measurable ways.

Innovation is being approached actively, with formal structures to drive programs and manage results.

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