Your Celent Insurance Newsletter, February 2011

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22 February 2011
New York, NY, USA

From the Senior Vice President

As long as the roots are not severed, all is well. And all will be well in the garden. In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again.
--Chance the Gardener, Being There

Chance wasn't opining on the New Normal in insurance, but his simplicity (or profundity?) seems to fit our world today. The roots were not severed, and the industry seems to be returning to growth, and investments to support growth.

Those were the themes at the Celent CIO Roundtable event in New York on February 11. And I have to say there is almost a universal sense of relief that things are moving again. Fear and uncertainty are being replaced by optimism and urgency, and it feels like real change is happening.

We also saw these same themes in our annual Model Insurer event. A record number of nominations resulted in a very strong class of Model Insurer Components, each of which highlights how technology can be used effectively. Congratulations to the 25 winners, plus the Model Insurer of the Year, Farmers Insurance (Clients can download the full report here.)

As winter turns to spring in many parts of the world, we expect insurers will also be cranking up their change efforts. As always, Celent stands ready to assist with your planting, pruning, and growing.

Craig Weber
Senior Vice President

Chart of the Month

From the Celent report: Still Seeing the Shadow: Groundhog Day for Legacy Modernisation (P&C Edition)

Celent Published Reports

February 2011

January 2011

December 2010

November 2010

Research in Progress

  • Leveraging the Power of Google, Amazon, Facebook and Yahoo: A Guide for Insurers
  • Life Insurance Consumer Mobility Attitude Survey
  • Business Analysis Competencies in North American Insurance Companies and Banks

Events

Celent Insurance Webinar: 2011 US Insurance CIO Survey: Pressures, Priorities, and Practices
Donald Light
Insurance Group
March 08, 2011

Participate in Celent Research

Research has begun on our Life Insurance Agent Mobility Survey. If you'd like to weigh in, please contact Karen Monks at kmonks@celent.com.

We're also working on our IT Spending in Insurance report. Carrier participants are always welcome, and non-clients benefit by receiving a free copy of the resulting report. Please contact Craig Weberat cweber@celent.com.