2023/06/04
Insurers have been modernizing their legacy systems, increasing their presence in cloud, and finding innovative use cases driven by emerging tec…
Research related to Life Digital Suite
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2023/04/05After writing our biannual report on new business and underwritiing systems ( New Business and Underwriting Systems: North America Life Insuranc…
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2023/03/21Celent recently published a review of the underwriting systems marketed and sold to North American life insurers: New Business and Underwriting…
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2023/03/08Are emerging technologies providing cost-effective options to manage closed block policies? In the L&A insurance segment, millions of policies t…
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2022/12/12Have you wondered what changes were implemented for underwriting during the pandemic and how life insurance underwriting changed over the past t…
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2022/11/30COVID-19 and the underlying macroeconomic environment forced life insurers to deeply examine their product offerings and business processes beca…
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2022/11/29Since the onset of COVID-19, the life insurance industry had to make some dramatic changes. The pandemic forced life insurers to digitize rapidl…
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2022/09/13Life Insurance Underwriting - Is It Changing Fast Enough? Every two years we do a deep dive into life insurance underwriting systems. We look at…
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2022/08/18In this report, we look at how data solutions play a role to provide support for actuary and underwriting functions in the insurance value chain…
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2022/04/11As part of Celent's Innovation and Insight Week 2022, a roundtable was conducted for the data, analytics, and AI theme on the topic of 'Data Inn…
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2021/11/17
Not long ago insurers were resistant (or, at best hesitant) to move legacy data and applications to any place outside of the control of their ow…
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2021/10/21Best in Class Digital Insurance - A Celent Peer Networking Event Recap On Wednesday, October 20, Celent welcomed 20 life insurance leaders in vi…
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2021/06/30Over the past two weeks, I moderated and presented at the 2021 InsureTech Connect Asia and Finovate Asia conferences. The hive of activities has…
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2021/05/25Is the intrinsic value of the coverage enough? Or do new customers want more from their insurance company? Today’s insurance experience is often…
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2021/04/21
Elon Musk once said “Failure is an option here. If you’re not failing, you’re not innovating enough". When I reflect on our work here at Celent,…
Research related to EXL’s Life Insurance Group and Voluntary Benefits Billing as a Service (BaaS) Offering
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2024/02/16Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
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2023/10/31With the resumption of student debt repayments in October, the student borrower is back in the news and should be on the minds of bankers. Banks…
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2022/08/03Snap polls reflect questions posed by members of the Celent Executive Panel, a group of C level executives in the insurance industry. This quest…
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2020/06/24Insurers send out a lot of bills. It’s an expensive process — not just in terms of the physical costs of printing, paper and postage: credit car…
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2020/06/23Insurers send out a lot of bills. It’s an expensive process — not just in terms of the physical costs of printing, paper, and postage: human bei…
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2020/06/22Insurers make a lot of claims payments. It’s an expensive process — not just in terms of the physical costs of printing, paper, and postage, but…
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2019/09/30Tomorrow’s the first day of October, and that means it’s time to start preparing for Money 20/20, held October 27-30 in Vegas. I’ve got some pra…
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2017/02/28
In order to understand the current state and trends regarding insurance payments, Celent conducted an online survey with insurers and managing g…
Research related to EXL’S P&C Insurance Claim Payments as a Service Offering
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2024/02/16
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
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2023/10/31
With the resumption of student debt repayments in October, the student borrower is back in the news and should be on the minds of bankers. Banks…
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2022/08/03
Snap polls reflect questions posed by members of the Celent Executive Panel, a group of C level executives in the insurance industry. This quest…
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2020/06/24
Insurers send out a lot of bills. It’s an expensive process — not just in terms of the physical costs of printing, paper and postage: credit car…
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2020/06/23
Insurers send out a lot of bills. It’s an expensive process — not just in terms of the physical costs of printing, paper, and postage: human bei…
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2020/06/22
Insurers make a lot of claims payments. It’s an expensive process — not just in terms of the physical costs of printing, paper, and postage, but…
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2019/09/30
Tomorrow’s the first day of October, and that means it’s time to start preparing for Money 20/20, held October 27-30 in Vegas. I’ve got some pra…
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2017/02/28
In order to understand the current state and trends regarding insurance payments, Celent conducted an online survey with insurers and managing g…
Research related to Insurance BPO/TPA Services - Life & Annuities and Property & Casualty
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2023/03/08
Are emerging technologies providing cost-effective options to manage closed block policies? In the L&A insurance segment, millions of policies t…
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2021/09/08"Conversions are very risky, painful and are never on-time!"— is this old saying still true for insurance system conversions? Apparently, there…
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2021/08/17The market for IT services continues to grow as providers rebound in the wake of the pandemic. On one end, commoditization of technology infrast…
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2021/05/14The COVID-19 pandemic has been especially hard on P&C insurers. Along with a large number of natural disasters and severe weather events which c…
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2021/04/30COVID-19 presented the global life insurance industry with challenges that have turned into opportunities. New societal realities and customer n…
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2021/04/04The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
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2021/04/03The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
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2021/03/31Insurance BPO (Business Process Outsourcing) sector has seen significant growth in the past owing to increasing customer demands and operational…
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2021/03/31Insurance BPO (Business Process Outsourcing) sector has seen significant growth in the past owing to increasing customer demands and operational…
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2021/03/10This Model Bank report uncovers how Discover Financial Services quickly adjusted to the challenges the pandemic created by enabling its agents t…
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2021/01/22The pressure on the buy side is intense . On the journey to managing operational and regulatory demands in a cost-effective way, investment mana…
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2020/12/08The world had a tough 2020 but, unlike the 2008 financial markets crisis, this time capital markets emerged as the hero as governments worldwide…
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2020/11/20Insurance companies today face both internal and external challenges that hinder them from becoming more competitive and meeting business goals.…
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2020/11/11Insurance companies today face both internal and external challenges that hinder them from becoming more competitive and meeting business goals.…
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2020/08/17The mortgage lending industry is in turmoil for the second time in only a decade as the coronavirus has increased loan delinquencies and affecte…
Research related to EXL's Digital KYC Solution
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2024/03/29AML operations are plagued with perhaps the most severe efficiency and accuracy issues in financial services. Fortunately, new technology is ava…
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2024/03/21Everyone knows the importance of making a good first impression. Doing so at scale through digital-first customer engagement is today's clarion…
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2024/03/19Super-regional banks in the US face a unique, competitive environment. They compete not only with the largest global money center banks but also…
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2024/02/21Watchlist screening has become the most-scrutinized area of AML compliance, and vendor solutions are evolving rapidly, driven by AI, machine lea…
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2024/01/22Nasdaq and its subsidiary Verafin, just published their first Global Financial Crime Report. The report is making headlines for the size of its…
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2023/12/02In 2024, technological turbulence – generative artificial intelligence (Gen AI), digital asset adoption, increased fraud and cyber risk – will r…
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2023/11/23When 2023 opened with the scare of an SVB-led financial contagion, financial risk topped the list of CRO concerns. With that crisis averted, ope…
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2023/10/23Financial crime compliance departments at banks and non-bank financial institutions (NBFIs) are challenged to keep up with the high volumes of a…
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2023/10/09After nearly a year at the helm of Celent's Risk practice, I had the privilege of attending my inaugural Sibos conference. My colleagues Patrici…
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2023/09/29The financial industry is facing increasing regulatory demands for assurance around watchlist management and sanctions screening. At first glanc…
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2023/08/27Most onboarding solutions, whether built by a bank or solution provider, focus on a broad set of processes across sales automation, know-your-cu…
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2023/08/26This report is a companion piece to the Global IT report and focuses solely on North American Wealth Management IT Spending which includes Canad…
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2023/07/20What if you could identify and discard risky applicants before you took them through an expensive identity proofing exercise? What if you had a…
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2023/07/19Recorded on July 19, 2023. Want to hear more about the current state of technology strategy and investment prioritization in the industry? Our w…
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2023/07/17The ongoing transition to AI-enabled, high performance financial crime compliance systems is a leading indicator of the application of digital t…
Research related to EXL Xtrakto.AI™: AI and NLP powered Content Extraction capability
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2024/03/05For many years Microsoft Excel was the staple application of finance teams. Perhaps one of the earliest “no-code” solutions, the combination of…
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2024/02/14We recently held our first insurance executive roundtable event of the year, at our offices in New York. In attendance were 35 executives from t…
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2024/02/08Just as COVID-19 provided the “aha” moment for accelerating digital transformation in the insurance industry, generative AI (Gen AI) is the “aha…
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2023/11/19Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
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2023/09/29The intersection of P&C insurance with Generative AI and Large Language Models (LLMs) signals a transformative shift in the industry. "Beyond Hu…
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2023/09/27The life insurance vertical stands at a pivotal juncture with the advent of Generative AI and Large Language Models (LLMs). "Beyond Human Intell…
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2023/09/19Celent held a full day event for insurers focused on Generative AI (GenAI) and Large Language Models (LLMs) in the insurance industry last Wedne…
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2023/07/30When we think about things that exist today that could be brought together and generate new products and services, we start to see how AI could…
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2023/07/29Whether one believes harnessing Gen AI is a Promethean moment or simply the next chapter in one's AI journey, most would agree that the Gen AI g…
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2023/07/25Here at Celent we have just published the results of our Celent Technology Insight and Strategy Survey, 2023. For the corporate banking market,…
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2023/06/27With the introduction of ChatGPT, large language models (LLMs) have become a significant part of the AI landscape due to their ability to revolu…
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2023/06/16HSBC is making the innovative move, for a global bank, of partnering with Google Cloud to adopt a cloud-based machine-learning powered solution…
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2023/06/04
Insurers have been modernizing their legacy systems, increasing their presence in cloud, and finding innovative use cases driven by emerging tec…
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2023/05/15Summary of a robust discussion on LLMs at Navigating Turbulence event. Should I build my own ChatGPT? Applying Large Language Models in Financia…
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2023/05/14At our recent in-person event in New York, Navigating Turbulence, I had an opportunity to participate in a panel discussion, “How to Responsibly…
Research related to LISSIA
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2024/03/21For insurance and institutional clients, efficient portfolio optimization and operational agility from the standpoint of dynamic adaptation and…
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2024/03/21Taiwan Life Insurance’s AI Platform for Claims provides multiple convenient claims delivery channels that address the many issues Taiwanese poli…
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2024/03/21
Everyone knows the importance of making a good first impression. Doing so at scale through digital-first customer engagement is today's clarion…
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2024/03/20User experience was flagged in our 2022 Previsory and we continued to see momentum build through 2023 and into 2024. User (UX) and customer (CX)…
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2024/03/19
Super-regional banks in the US face a unique, competitive environment. They compete not only with the largest global money center banks but also…
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2024/02/28Fractional share trading for equities and ETFs is not new. Widespread adoption of fractionals in mostly brokerage accounts were spurred on by th…
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2023/12/15Private market asset managers were not immune from the post-pandemic, macroeconomic headwinds and recent market volatility – with operating marg…
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2023/12/11In July 2023, Celent published the LATAM life policy administration system vendor report. The data-gathering process provided some insight into…
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2023/11/23What is a life policy administration system? What life insurers use them for? What do they think of their components, features and functions? Do…
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2023/10/20Over the past decade, institutional investors’ quest for higher returns and portfolio diversification in an era of low interest rates and favora…
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2023/10/05Recorded on October 5, 2023. Watch this webinar on ceded reinsurance administration systems to gain valuable insights into the latest trends an…
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2023/09/28Recorded on September 27, 2023. Watch this webinar to learn about the evolving insurance billing systems landscape, its functionalities, and eme…
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2023/09/12Without a doubt, the pandemic spurred digital investment and CIOs started spending money on updating old technologies. Celent’s ongoing conversa…
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2023/08/27
Most onboarding solutions, whether built by a bank or solution provider, focus on a broad set of processes across sales automation, know-your-cu…
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2023/08/26
This report is a companion piece to the Global IT report and focuses solely on North American Wealth Management IT Spending which includes Canad…
Research related to LifePRO
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2023/11/23
What is a life policy administration system? What life insurers use them for? What do they think of their components, features and functions? Do…
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2023/09/12
Without a doubt, the pandemic spurred digital investment and CIOs started spending money on updating old technologies. Celent’s ongoing conversa…
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2023/08/08Using data from Celent's biennial North American policy administration solution (PAS) review, Celent drills down on the customer feedback to giv…
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2023/07/06Insurers have various approaches to acquire core business functions and capabilities. One approach is to look at relevant policy administration…
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2023/07/05This report is the fourth in Celent’s biennial look at group and voluntary policy administration systems (PAS) available to life insurers in Nor…
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2023/07/04In this ninth installment of Celent's biennial look at policy administration systems (PAS) available to life insurers in North America, we profi…
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2023/07/02Insurers have various approaches to acquire core business functions and capabilities. One approach is to look at relevant policy administration…
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2023/07/02Insurers have various approaches to acquire core business functions and capabilities. One approach is to look at relevant policy administration…
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2023/06/04
Insurers have been modernizing their legacy systems, increasing their presence in cloud, and finding innovative use cases driven by emerging tec…
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2023/03/08
Are emerging technologies providing cost-effective options to manage closed block policies? In the L&A insurance segment, millions of policies t…
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2022/09/28This research will provide an overview of the insurance market and technology trends in Australia and New Zealand. We will provide examples of i…
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2022/08/05What is Takaful Insurance? Takaful, often referred to as 'Islamic insurance', is a way for businesses to mitigate the financial risk of unforese…
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2022/03/18The global pandemic forced many insurers to accelerate the digitalization of their businesses. This came with a record number of policy administ…
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2022/03/09The last two years have seen life insurers move from complete uncertainty as to how to handle the change COVID thrust upon them to them making t…
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2022/02/27Celent profiles 19 PAS in use or being marketed for the administration of North America group and voluntary life protection products, annuities,…