
In December 2022, I had the opportunity to attend the AWS re:Invent summit at Las Vegas and observed announcements on new products and functions…
Subject to reasonable use.
Subject to reasonable use.
In December 2022, I had the opportunity to attend the AWS re:Invent summit at Las Vegas and observed announcements on new products and functions…
Robotic process automation has a strong foothold in all industries globally, and its application in the insurance industry is forecasted to cont…
Experiencing product value before purchase drives growth—Product-Led Growth:PLG •This is a primer for those who are not so familiar with Product…
Over the past week, I attended the first in-person Insuretech Connect Asia (ITC Asia) in Singapore since the pandemic, and it was also the first…
Back in December, we published our annual Previsory report, Celent 2022 Edition: Technology Trends Report . This report summarizes the major dis…
The colocation market is thriving. Although highly associated with high frequency traders utilizing ultra-low latency trading strategies, exchan…
The marketing statements of financial institutions have for years touted“customer-first”, “customer 360”; and “omnichannel communications” to de…
"Conversions are very risky, painful and are never on-time!"— is this old saying still true for insurance system conversions? Apparently, there…
The market for IT services continues to grow as providers rebound in the wake of the pandemic. On one end, commoditization of technology infrast…
Celent surveyed numerous vendors that provide RPA platforms and/or services to see how RPA is advancing with focus on areas such as process inte…
In Insurtech in Asia Series: Evolving Landscape, Changing Innovations in Singapore, we summarize the observations and segment four main areas fo…
In my previous blog, I wrote about the usage of alternative data for health insurance and how this can be enabled by the partnership of the gove…
As the world finally turn the page to a new post-pandemic chapter, the Wealth Management industry has reason for cautious optimism. While much u…
The 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…
COVID-19 presented the global life insurance industry with challenges that have turned into opportunities. New societal realities and customer n…
Have you wondered what changes were implemented for underwriting during the pandemic and how life insurance underwriting changed over the past t…
COVID-19 and the underlying macroeconomic environment forced life insurers to deeply examine their product offerings and business processes beca…
Since the onset of COVID-19, the life insurance industry had to make some dramatic changes. The pandemic forced life insurers to digitize rapidl…
Life Insurance Underwriting - Is It Changing Fast Enough? Every two years we do a deep dive into life insurance underwriting systems. We look at…
In this report, we look at how data solutions play a role to provide support for actuary and underwriting functions in the insurance value chain…
As 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…
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…
Best in Class Digital Insurance - A Celent Peer Networking Event Recap On Wednesday, October 20, Celent welcomed 20 life insurance leaders in vi…
Over the past two weeks, I moderated and presented at the 2021 InsureTech Connect Asia and Finovate Asia conferences. The hive of activities has…
Is the intrinsic value of the coverage enough? Or do new customers want more from their insurance company? Today’s insurance experience is often…
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,…
Snap polls reflect questions posed by members of the Celent executive research panel. Several members of the NA L&H panel queried about digital…
Alternative data sources would provide insurers with additional data that complement internal organizational or policyholders’ information. It w…
Insurers are pursuing digitization while challenging themselves to become customer centric. Some have gone the path of establishing greenfield d…
Snap polls reflect questions asked by members of the Celent Executive Research Panel, a group of over 265 C level executives the life insurance…
This research will provide an overview of the insurance market and technology trends in Australia and New Zealand. We will provide examples of i…
What is Takaful Insurance? Takaful, often referred to as 'Islamic insurance', is a way for businesses to mitigate the financial risk of unforese…
The global pandemic forced many insurers to accelerate the digitalization of their businesses. This came with a record number of policy administ…
The 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…
Celent profiles 19 PAS in use or being marketed for the administration of North America group and voluntary life protection products, annuities,…
The benefits of legacy conversion are well known: access to modern digital capabilities and flexibility to continue to adapt. The challenge has…
Since our last update to this report, Celent has seen an increased interest from vendors in the life policy administration system market in LATA…
In this eighth installment of Celent's biennial look at policy administration systems (PAS) available to life insurers in North America, we prof…
The life policy administration system vendor market in Europe, the Middle East, and Africa is difficult to navigate. While insurers tend to have…
A policy administration system (PAS) is the system of record for all policies that an insurance company has written. In actual practice, an insu…
It’s common to hear the refrain “conversions are risky, expensive, and are never on-time!" Well, we wanted to know if the caution is still warra…
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…
Best in Class Digital Insurance - A Celent Peer Networking Event Recap On Wednesday, October 20, Celent welcomed 20 life insurance leaders in vi…
The booming stock market is growing the money in company pension plans. It could be the right time to sell if a company wants to remove the pens…
Group & Voluntary is an active market attracting interest from both existing players and new entrants, many of which would not have existed five…
After the initial implementation of RPA and after insurers have addressed the ‘low-lying-fruit” for process automation, many ask “what’s next?”,…
Effective data management includes broad technology tools that are focused on optimizing data collection, quality control, processing, and analy…
Experiencing product value before purchase drives growth—Product-Led Growth:PLG •This is a primer for those who are not so familiar with Product…
Celent’s parent company, Oliver Wyman, recently published a paper on the transformation of banking using AI (The AI Revolution in Banking). It i…
Banks have been trying for years to implement artificial intelligence programs to improve their client experiences and fend off increasing compe…
In the insurance industry - where profit margins vary widely based on catastrophes on the property casualty side and are usually razor thin on t…
Banking is one of the most data-intensive industries, with data woven into every facet of client experience, banking operations, and servicing.…
I recently joined the Celent Corporate Banking Practice, having spent most of my career working at the intersection of business and technology w…
Over the past week, I had the great opportunity to present at two events – Celent’s inaugural Asia webinar series and the Toronto Machine Learni…
ESG criteria promotes doing business for good and holds organization accountable for actions that are damaging to the people and planet it aims…
Taiwan Life saw an opportunity to be the first to leverage new digital data from the government’s e-health initiative, using machine learning (M…
The FWD Group Data team developed a smart insurance framework, an AI-everywhere approach that aims to transform the insurance journey by leverag…
Breakthrough innovations are occurring in cash management thanks to advances in artificial intelligence and machine learning (AI/ML), connectivi…
The specialized technology that supports risk management functions has traditionally been supplied by internal development teams as well as by e…
MLOps is a multi-phase process that leverages the power of large volumes and variety of data, abundant compute on GPU, and open-source machine l…
Snap polls reflect questions posed by members of the Celent Executive Panel, a group of C level executives in the insurance industry. This quest…
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…
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…
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…
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…
In order to understand the current state and trends regarding insurance payments, Celent conducted an online survey with insurers and managing g…
Snap polls reflect questions posed by members of the Celent Executive Panel, a group of C level executives in the insurance industry. This quest…
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…
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…
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…
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…
In order to understand the current state and trends regarding insurance payments, Celent conducted an online survey with insurers and managing g…
Increasingly, risk offices at financial institutions are using advanced data management and artificial intelligence (AI), orchestration, high-pe…
In recent years, financial institutions have sought to lower AML compliance costs—and increase the effectiveness of their compliance programs—by…
Recorded on October 27th, 2022 Geopolitical and economic headwinds, following straight on the heels of the pandemic, highlight the need for resi…
Previsory is a portmanteau word coined by Celent to describe a forward-looking view of technology, and advice on how to respond to and leverage…
Geopolitical and economic headwinds, following straight on the heels of the pandemic, highlight the need for resilience and agility in Risk func…
Adverse media monitoring has grown from its origins as a filter for politically exposed persons (PEPs) to an effective means for uncovering an e…
As banks chart their course through the imperative of digital transformation, one increasingly common approach is to launch a digital bank on a…
The pandemic and the Ukraine crisis have unleashed an age of perpetual black swan effects, from supply chain disruptions to inflation. But the p…
Since black swan events are by definition unpredictable, risk and compliance needs to always be ready to handle them. This requires agility in t…
Financial institutions are increasingly looking to build and maintain sustainable Anti-Financial Crime (“AFC”) programs that can adapt to variou…
Anti-money laundering (AML) and counter-terrorist financing (CTF) programs are designed around a decade-old compliance-focused model that acts a…
Last week, my colleague Kieran Hines and I attended FinovateEurope 2022, which was back in London as an in-person event again, and it was such a…
The last 24 months have seen tectonic shifts in cloud adoption and openness to the cloud in financial services. The forces of digitalization, in…
At Celent’s annual Innovation and Insight event, we assembled experts (Dan Tannebaum, Paul Mee, Jamie MacGregor, Rob Norris and Gareth Lodge) fr…
Anti-money laundering (AML) compliance continues to face challenges of efficiency and efficacy. Recent advances in data and analytics can be lev…
This research will provide an overview of the insurance market and technology trends in Australia and New Zealand. We will provide examples of i…
As banks chart their course through the imperative of digital transformation, one increasingly common approach is to launch a digital bank on a…
What is Takaful Insurance? Takaful, often referred to as 'Islamic insurance', is a way for businesses to mitigate the financial risk of unforese…
Profound shifts born from the wave of regulatory, capital, passive investing, and fee compression trends are continuing to alter the investment…
Reinsurance plays an important role in spreading risk exposures held by an insurer, and we are seeing reinsurers’ business solutions for both in…
COVID-19 created lasting changes in the distribution of life insurance. The evolution of direct-to-consumer (D2C) sales was slow until the pande…
The demand for applications is growing faster than the supply of developers to deliver them. A new era of low/no-code development is emerging, w…
Last week, my colleague Kieran Hines and I attended FinovateEurope 2022, which was back in London as an in-person event again, and it was such a…
Last month I was honored to participate in the TradeTech FX annual conference in Miami, FL, and to assist by hosting a keynote interview and mod…
The global pandemic forced many insurers to accelerate the digitalization of their businesses. This came with a record number of policy administ…
BNP Paribas S.A. implemented One KYC, a utility for collecting, storing, and maintaining information and documents for know-your-customer (KYC),…
The 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…
Celent profiles 19 PAS in use or being marketed for the administration of North America group and voluntary life protection products, annuities,…
The benefits of legacy conversion are well known: access to modern digital capabilities and flexibility to continue to adapt. The challenge has…
Since our last update to this report, Celent has seen an increased interest from vendors in the life policy administration system market in LATA…
Snap polls reflect questions posed by members of the Celent Executive Panel, a group of C level executives in the insurance industry. This quest…
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…
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…
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…
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…
In order to understand the current state and trends regarding insurance payments, Celent conducted an online survey with insurers and managing g…
After the initial implementation of RPA and after insurers have addressed the ‘low-lying-fruit” for process automation, many ask “what’s next?”,…
Effective data management includes broad technology tools that are focused on optimizing data collection, quality control, processing, and analy…
Experiencing product value before purchase drives growth—Product-Led Growth:PLG •This is a primer for those who are not so familiar with Product…
Celent’s parent company, Oliver Wyman, recently published a paper on the transformation of banking using AI (The AI Revolution in Banking). It i…
Banks have been trying for years to implement artificial intelligence programs to improve their client experiences and fend off increasing compe…
In the insurance industry - where profit margins vary widely based on catastrophes on the property casualty side and are usually razor thin on t…
Banking is one of the most data-intensive industries, with data woven into every facet of client experience, banking operations, and servicing.…
I recently joined the Celent Corporate Banking Practice, having spent most of my career working at the intersection of business and technology w…
Over the past week, I had the great opportunity to present at two events – Celent’s inaugural Asia webinar series and the Toronto Machine Learni…
ESG criteria promotes doing business for good and holds organization accountable for actions that are damaging to the people and planet it aims…
Taiwan Life saw an opportunity to be the first to leverage new digital data from the government’s e-health initiative, using machine learning (M…
The FWD Group Data team developed a smart insurance framework, an AI-everywhere approach that aims to transform the insurance journey by leverag…
Breakthrough innovations are occurring in cash management thanks to advances in artificial intelligence and machine learning (AI/ML), connectivi…
The specialized technology that supports risk management functions has traditionally been supplied by internal development teams as well as by e…
MLOps is a multi-phase process that leverages the power of large volumes and variety of data, abundant compute on GPU, and open-source machine l…