Celent European Insurance Newsletter, November 2011
From the Senior Vice President for European Insurance
Every industry needs its version of the Oscars, and last month saw the first technology awards for the UK general insurance sector. Our ceremony was complete with beautiful location (The Gherkin in London), chunky awards, and excited industry folk. There were several awards going to LV= (E-commerce award), RSA (Best project), More Than (Innovation in Insurance) and Chartis (Mobile Innovation). The Leadership Award went to Lisa Gibbard, CIO at Aspen Re, so our congratulations to Lisa!
In case you think all we do is attend awards and conferences, let me put your mind at rest. We've also published on the topics of SOA, underwriting segmentation decisions, and GIS solutions. Nicolas Michellod and Jamie Macgregor are putting the final touches to the European Life Policy Admin report, and that will be published next month. This is a companion to a North American report in Life and Annuities due out at the same time.
One important topic for the UK market is the impending regulation of the life sector - the Retail Distribution Review. We will publish two reports on this topic, one covering the heart of the issue and how it might play out, the other on the technology vendors that play in this space. We will also hold an event in London on 15 November to share some of this content and bring together some interesting speakers. More details will follow on our website, but please get in touch with us if you are interested to hear more.
It would be hard not to mention the European crisis in any newsletter. Not a day goes by without the downgrading of a country or a financial institution. This level of fear and uncertainty has parallels with the 2008 crisis, which had a serious impact on IT investment. In the coming months, we will have conversations with European and North American CIOs on their investment plans for 2012. It remains to be seen how the current budget cycle (often sluggish to respond to events) reflects the ever-changing outlook, but it's hard to be optimistic.
Senior Vice President
Chart of the Month
From the Celent report Seeking Simplicity: A Historical and Future Perspective on Underwriting System Segmentation
Celent Published Reports
- The Build Vs. Buy Debate: An Update from the Insurance System Landscape
- Using Social Data in Claims and Underwriting: Creating a Social Risk Profile
- Deal Trends in General Insurance Policy Administration Solutions: 2011 European Edition
- Policy Administration Systems for General Insurers in Europe 2011
- Location Intelligence Solutions for Insurance: A Solution Spectrum
- Understanding the Value of Location Intelligence Solutions
- Seeking Simplicity: A Historical and Future Perspective on Underwriting System Segmentation
- An SOA Evolution, Insurance Edition
Research in Progress
- UK Retail Distribution Review: Market Readiness
- UK Retail Distribution Review: The Changing Technology Landscape
- Leveraging the Power of Google, Amazon, Facebook, and Yahoo!: A Guide for Insurers