Collaboration and Insurance 2.0: An Overview of Social Software and Enterprise 2.0 for Insurers

by Craig Beattie, March 28, 2012
Industry Trends
Global, Asia-Pacific, EMEA, Latin America, North America

Abstract

Undeniably, Facebook and Twitter have changed the way human beings communicate on a global scale. Web 2.0 and the social Internet is now making its way into the insurance industry, affecting how staff members communicate with each other and with third parties.

In a new report, Collaboration and Insurance 2.0: An Overview of Social Software and Enterprise 2.0 for Insurers, Celent reviews how collaboration is relevant, accessible, and being deployed by the insurance industry. The report offers a definition of Web 2.0 and what these technologies mean in the context of a regulated environment dominated by disparate teams and workflows.

“Despite the challenging business case, insurers are investing in social technology,” says Craig Beattie, Analyst with Celent’s Insurance group and author of the report. “The impact on the culture of an organisation and the ability of this software to bridge organisational, hierarchical, and geographical walls are hugely compelling to large insurers, especially those formed by acquisitions.“

The report draws together a description of this social technology, its potential in an insurance context, and some real examples from the insurance industry.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America (Boston)
Erica Ferguson
eferguson@celent.com
Tel.: +1 617 262 8225

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)208 870 7875

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3500.3023

Table of Contents

Executive Summary

3

Introduction

4

 

What Are Web 2.0 and Enterprise 2.0?

5

 

Content

6

 

Links

7

 

Delivery

8

 

Web 2.0 in Short

9

Elements of a Social Business

11

 

Corporate Content

11

 

Social Business Processes

12

 

The Collaboration Cycle

13

 

Social Networks

14

Social Technology and Nearly STP

16

Insurer Implementations

18

 

Ourspace at Swiss Re

18

 

Allianz Life Insurance Company of North America

21

 

Broker Engagement 2.0 at Torus Insurance

22

 

Staff Training 2.0 at HFDC Standard Life Insurance

23

Social Business Initiatives

24

 

Five Key Benefits of Enterprise 2.0 and Social Platforms

25

Becoming a Social Business

26

Leveraging Celent’s Expertise

27

 

Support for Financial Institutions

27

 

Support for Vendors

27

Related Celent Research

28

Sign in to download reports and access personalized information