Your Celent Insurance Newsletter, February 2011
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.
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
- Insurance in the United Kingdom 2011: The CIO Perspective
- 2011 US Insurance CIO Survey: Pressures, Priorities, and Practices
- Trends in Life Insurance New Business and Underwriting Systems Usage
- Celent Model Insurer 2011: Case Studies of Effective Technology Use in Insurance
- Still Seeing the Shadow: Groundhog Day for Legacy Modernisation (P&C Edition)
- Insurance in France 2011: The CIO Perspective
- IT Spending in Financial Services: A Global Perspective
- Claims System Vendors: North American P/C Insurance 2011
- Still Seeing the Shadow: Groundhog Day for Legacy Modernisation (Life and Health Edition)
- Model Insurer Asia 2011: Case Studies of Effective Technology Use in Insurance
- Tomorrow's Leading European General Insurer: Four Elements for a Winning Strategy
- Hidden Costs in Modern Core Insurance Systems
- Wealth Management Opportunities in the European Life Insurance Industry
- Rethinking Document Management: Three Principles
- P&C Insurance Technology Trends in India
- Creating Business Value from Business Process Management: Solutions in Insurance
- Controlling the Risk in Insurance Data Conversion
- E-Business Strategies for a New Mobile World: Considerations for Insurance
- North American SnAppshot: A Look at Mobile Apps Aimed at Insurance Consumers
- Approaching the Boiling Point: BPO, SaaS in Insurance
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
Celent Insurance Webinar: 2011 US Insurance CIO Survey: Pressures, Priorities, and Practices
March 08, 2011
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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 firstname.lastname@example.org.