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Celent Model Insurer Asia 2017: Case Studies of Effective Technology Use in Insurance

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29 May 2017

Abstract

Seventeen technology initiatives are profiled as case studies in this seventh edition of Celent’s Model Insurer Asia report.

Celent has released a new report titled Model Insurer Asia 2017: Case Studies of Effective Technology Use in Insurance. The report was written by Wenli Yuan, a Senior Analyst with Celent’s Asian Financial Services practice.

Seventeen technology initiatives are profiled as case studies in the seventh edition of Celent’s Model Insurer Asia report.

Nominations were accepted throughout 2016, and the Celent insurance team selected the winners based on the best practices and business benefits provided. Each Model Insurer Asia winner is described in a brief write-up within the report, including detailed descriptions of business drivers, technology environments, implementation details, and quantitative success metrics.

Celent has identified several common best practices such as use of industry standards, optimization of infrastructure, positioning for future reuse, automation, straight-through processing, and system integration as being integral to the success of an IT project.

The approach Celent takes is to offer case studies that describe best practices in the implementation and use of technology that a “Model Insurer” would use. Within theme categories like digital, data analytics, and legacy transformation, we consider how an insurer is tackling challenges across the product and policyholder lifecycle and in IT infrastructure and management.

“Insurers are continually looking to leapfrog their competition through use of digital, analytics, innovation, and legacy transformation. Celent evaluated insurance technology initiatives based on these themes and on implementation best practices,” Yuan commented.