Combine complex regulations, competing objectives, and a new political climate with insurers' need to create new and innovative products to stay competitive, and the result is an environment that raises many questions for how risk transfer is assessed.
The word epidemic immediately conjures up unpleasant connotations. But the literal definition of an epidemic simply is an event that is contagious and spreads rapidly, and those two traits are not inherently negative...
When you're planning a vacation, you know you'll be able to use your credit card to buy an Eiffel Tower souvenir in Paris or get cash from an ATM in Tokyo thanks to the use of global standards by banks and credit card companies.
Karlyn Carnahan recalls that when she was a senior executive at an insurance carrier 10 years ago, "business intelligence" meant getting a box of reports.
There is no shortage of SaaS-based solutions for policy administration in the market, but is now the time for insurers to move this core system outside their own data center?
When a contentious relationship exists between business and IT, the latter constituency often gets the blame. Yet to be completely fair, the cause of misalignment falls as much on business as it does on IT.
In the insurance business--as in any business--if you're not growing, you're dying. Growth requires "new"--new products, new markets, and new customers.