EMERGING TECH IN INSURANCE: AI, BIG DATA, CHATBOTS, IOT ... · but early adopters report positive...

Q1 | 2019

NEXT GENERATION TALENT IN INSURANCE

LIFEHEALTHANNUITY NEW BUSINESS AND

UNDERWRITING SYSTEMS

BUILDING IT ANALYTICS ALIGNMENT

EMERGING TECH IN INSURANCE

AI BIG DATA CHATBOTS IOT RPA AND MORE

SPEED TO MARKET PROPERTYCASUALTY amp

LIFEANNUITY INSURERS

BUSINESS AND TECH TRENDS IN

REINSURANCE

2 Novarica Research Quarterly Q1 | 2019

Contents

Research Council StudiesEmerging Technology in Insurance AI Big Data Chatbots IoT RPA and More

Speed to Market PropertyCasualty amp LifeAnnuity Insurers

IT Security Update 2019

3

CIO Checklists Building ITAnalytics Alignment

Best Practices in Board Communications for CIOs

10

Executive Briefs amp ReportsInnovation in Insurance Expansion and Key Issues

Key Issues and Best Practices for Life CIOs in PC Companies

Maintaining BusinessIT Alignment in Insurance

Next Generation Talent in Insurance

MDM in Insurance Expansion and Key Issues

Agile in Insurance Expansion and Key Issues

Enterprise Architecture Expansion and Key Issues

QA and Testing in Insurance Expansion and Key Issues

Block Analysis and Life Systems Transformation

Simplification and Complexity in Specialty Insurance Technology

Direct Online Small Commercial Insurance 2019 Update

6

Cloud Computing Platforms in Insurance

IT Governance in Insurance Expansion and Key Issues

Enabling Innovation Vol 5 More Lessons from Silicon Valley

Data Science in Insurance Expansion and Key Issues

Cyber Risk Scoring and Modeling Overview and Prominent Providers

Medical Malpractice Insurance Overview and Key Issues

Machine Vision in Insurance Use Cases and Emerging Providers

Business amp Tech Trends

Reinsurance

Group LifeAnnuityVoluntary Benefits

Large Commercial Brokers

11

Novarica Market NavigatorsIT Services Providers for Insurers

LifeHealthAnnuity New Business and Underwriting Systems

14

Welcome to the Novarica Research Quarterly Each issue provides a summary of recently published reports including studies of insurersrsquo technology experiences capabilities and plans from our Research Council business and technology trends CIO best practices vendor information in our Novarica Market Navigators and recent webinars and presentations All of the research summarized here is available for download by our advisory clients at novaricacom Research reports can also be purchased individually

If yoursquod like to learn more or arrange a conversation to discuss any of these topics with our senior team please contact us at inquirynovaricacom or 833-668-2742

3Novarica Research Quarterly Q1 | 2019

Research Council Studies

Artificial intelligence augmented and virtual reality big data blockchain chatbots drones robotic process automation sensors and telematics smart home automation and wearables are not yet widely used in the insurance industry but many of these areas show early positive results and potential for growth Mobile and predictive analytics often still classed by insurers as emerging technology are widely deployed and investment in both areas continues

This report analyzes the results of a study of 104 insurer CIO members of the Novarica Insurance Technology Research Council

Key Points and FindingsEarly adopters are finding success Fewer than one in four insurers has experience with these technologies but early adopters report positive ROI especially in analytics drones and RPA

Emphasis on analytics About half of insurers have deployed predictive analytics in multiple areas and pilot activity in big data and machine learning remains high

No huge spike in activity in the last 12 months Rates of deployment and pilot activity are broadly consistent with survey data from last year Investment is steady but not dramatic

Topicsbull Current deployment rates and planned pilot activity

for 2019

bull Functional areas in which these technologies have been deployed

bull Return on investment for insurers who have already deployed these technologies

Matthew JosefowiczmjnovaricacomPresidentCEO

| 23 Pages


Product speed to market is consistently among the top priorities for insurers Product introduction or modification requires collaboration between diverse business functions as well as implementation and testing on disparate technology systems

IT is often seen as a major impediment to speed to market due to long implementation and testing cycles Technology can be a factor but itrsquos one among many carriers who wish to improve speed to market also need to consider overall business processes and the stage at which IT is included Bringing IT into the process early is correlated with faster speed to market

Key Points and FindingsAverage speed to market is seven months for new products three for modifications These times are broadly similar across lines

When technology is a problem itrsquos a big problem IT isnrsquot always the ldquolong polerdquo for speed to market but when it is it has a big impact on longer product times

Early IT involvement is a key factor Including IT at the table during the product ideation phase is consistently associated with faster time to market

Key Points and FindingsAverage time to market for new products and modifications

ldquoLong polesrdquo in the product development and implementation process

Factors that impact speed to market Considering the impact of technology and ITbusiness alignment on speed to market


SPEED TO MARKET PROPERTYCASUALTY

SPEED TO MARKET LIFEANNUITY


As the insurance industry changes in response to continued digitalization IT leaders must continue to maintain and improve their ability to protect confidential data and customer information While technological advances can streamline processes they can also open the door for potential risks Modern digital systems and procedures must be fully secure to retain the trust of agents and insureds and to protect companies from liability

This report looks at 2019 plans among US insurers across a wide variety of IT security areas to help insurer CIOs understand how their peers are addressing key issues in cybersecurity

| 20 Pages

Key Points and FindingsInsurers are enhancing security capabilities across the board Nearly half of all insurers are enhancing capabilities in intrusion detection app security device security and encryption

Insurers are preparing for new regulations Insurers are continuing to prepare for and implement programs to adhere to new regulations in both the US and EU

Carriers are appointing CISOs to manage risk The role of the CISO has expanded due to regulations and a need from carriers to implement effective cybersecurity programs

Chuck GomezcgomeznovaricacomVP Research amp Consulting

Mitch WeinmweinnovaricacomSVP Research amp Consulting

Topicsbull Security plans and frameworks including device and application security

data encryption NIST US state regulations and GDPR

bull The role of the CISO security resources and plans for 2019

bull Emerging technology including quantum computing


Rob McIsaacrmcisaacnovaricacomEVP Research amp Consulting

Nancy Casbarro ncasbarronovaricacom VP Research amp Consulting

Authentic business and IT alignment is a cohesive focused group of professionals collaborating to deliver on the strategy of the company Done correctly this can create a competitive differentiator for carriers and the IT organizations that support them

A common purpose tied directly to the companyrsquos strategy is a crucial element of IT and business alignment Equally important is a culture of mutual respect that fosters relationships Cultivating and maintaining this alignment is an ongoing effort that can elevate employee satisfaction improve the stature of IT and benefit the company as a whole

This brief focuses on the importance of culture communication and clarity in the organization to fully unleash the power of the business and IT team

| 7 Pages

The acquisition development and retention of talent is a mission-critical activity for high-performing companies With Millennials making up almost half of the US workforce and Gen Z starting to graduate from college understanding the younger members of the talent pool is crucial

Insurers need to know what the younger generations are looking for and how to reach them effectively Feeling professionally supported learning transferrable skills and having access to innovative technology are all top of mind for young workers With todayrsquos changing conception of a career path flexibility and transparent communication are key

This brief discusses some of the major challenges for insurers looking to hire new talent It also provides several examples of companies both in and outside of the insurance space that are looking to address these challenges

| 12 Pages

Deb Culliton dcullitonnovaricacom VP Research amp Consulting



Executive Briefs amp Reports

As insurance carriers execute on their operational plans for the future they face a variety of challenges and opportunities in the marketplace Increased competition better consumer access to information changing demographic patterns and a variety of lifestyle changes are working together to create a more complex and nuanced business environment that carriers need to consider carefully While technology for the sake of technology is not a best practice response a focus on innovation using leading capabilities to create competitive advantage can be a very important element in a broader business strategy

| 9 Pages

Life divisions in mult-iline companies face unique challenges While they are expected to produce comparable digital experiences and technological capabilities life CIOs must execute these projects with leaner budgets and resource constraints Life divisions must also contend with challenging data and application management issues

While there is no ldquoone size fits allrdquo solution life CIOs that leverage their business intimacy enterprise resources external partners and effective internal communications can thrive under the shadow of their larger corporate siblings

| 7 Pages

Justina LeejleenovaricacomLead Associate


Carriers across the insurance industry continue to invest in Agile capabilities Agile adoption can lead to improved software quality better collaboration between business and IT lower cost and risk and increased customer satisfaction To invest in Agile carriers are scaling frameworks like SAFe using product management discipline and expanding Agile principles into IT operations through DevOps Yet despite the almost ubiquitous use and relative maturity of Agile in the industry carriers continue to struggle with financial organizational and cultural issues that prevent their Agile adoption from leading to true transformation

Master data management is designed to ensure that enterprise data has been de-duplicated cleansed organized secured and assessed for quality

Insurers are placing a priority on data initiatives to support their predictive modelling and AI programs High data quality is imperative for digitization where data is being exposed to outside parties Existing and emerging data regulations are also driving a need for improved data governance

Chief data officers and multi-tiered data governance organizations are becoming more prevalent as data is increasingly being treated as an asset Challenges exist with organization resourcing process and funding that can stymie the results of well-intentioned data programs


| 7 Pages | 7 Pages

Eric WeisburgeweisburgnovaricacomVP Research amp Consulting

Ken ToffoloktoffolonovaricacomVP Research amp Consulting

Martin HigginsmhigginsnovaricacomVP Research amp Consulting


Quality assurance (QA) is an underappreciated but critical aspect of the application development and support process Though carriers have implemented quality assurance programs to varying degrees most still focus on quality control activities like testing without having a full quality assurance program

This brief explores the main drivers for the increase in QA activities at PC and LA carriers as well as the importance of maturing QA programs regardless of the state of core systems

As the insurance industry continues to evolve becoming more customer-focused and digitized the dependence on complex technology architecture increases A strong architecture governance function is needed to ensure that each project is consistent with the overall technology direction of the organization and aligned with the business strategy Each technology project is a piece of a larger puzzle of interacting technologies processes and steps leading to a desired business capability end state With the growing adoption of Agile and cloud the importance of balancing architecture best practices with the challenges of decentralized decision-making has never been higher

Chuck RuzickacruzickanovaricacomVP Research amp Consulting

| 8 Pages | 9 Pages


Life insurance core systems transformation projects are complex and expensive Before proceeding insurers should carefully analyze their options for each affected block of business

An effective block analysis provides insights into how a transition will affect different products and lines of business creates a broader understanding of relative costs and benefits and provides a rational framework for executive decisions

| 5 Pages


Large commercial and specialty (LCS) insurer technology leaders are faced with the challenge of simplifying processes and environments for an inherently complex business

Many CIOs have found that leaning on a common process of oversight and governance seeking commonality before differentiating technology solutions for unique products has proven successful

While geography products and business strategy frequently drive the requirement to deliver one-off technology solutions and initiatives a strong strategic vision can help keep the overall enterprise moving forward

| 8 Pages



An area of significant growth in insurance technology is the use of cloud computing platforms Often referred to as cloud PaaS (Platform as a Service) cloud computing platforms are integrated development and deployment platforms that allow users to create custom applications to the cloud without the need to specify manage or control the underlying infrastructure (network servers virtual machines and storage)

While most carriers still start their cloud journey with a ldquolift and shiftrdquo migration to traditional IaaS (Infrastructure as a Service) cloud many larger carriers are aggressively moving to cloud platforms for new development because of the advantages that these platforms can provide including increased productivity better scalability and lower cost

Although still mostly encountered at larger carriers the low barrier to entry of these platforms makes them an especially good fit for the midsize carriers looking to move their custom development to the cloud


| 8 Pages

Over the past decade selling small commercial insurance directly online to customers has gone from an outlandish idea to a reality While only an estimated 2-3 of small commercial sales occur online today the market could increase to 12 by 2023 as digital distributors regionals and national insurers devote more attention to growing in this important segment Insurers seeking to compete must understand evolving buyer needs and operational prerequisites as well as traditional and emerging competitors

| 13 Pages


Harry HubertyhhubertynovaricacomLead Associate

Key Points and FindingsChanges in business ownersrsquo online habits likely to drive market demand Younger business owners are comfortable buying coverage online and a significant portion expressed preference for buying that way Owners of all ages are comfortable managing their businesses online

InsureTech entrants designing experiences to meet customer need Well-funded customer-focused digital distributors are demonstrating the value of offering simplified products and experiences focused on the moment of customer need

Major commercial players are making moves While no one has yet committed the significant advertising dollars that drove the transformation of the personal lines markets top-tier commercial insurers are entering the market through dedicated operations and acquisitions

Topicsbull Estimated market size and growth from 3 today to 12 in 2023

bull Profiles of market participants including insurers InsureTech digital distributors and Amazon

bull Key issues for direct small commercial insurers including a review of strategic options

The importance of IT governance for insurers is growing Old practices need updating as they expand Agile development and cloud adoption implement DevOps and drive IT organizations to greater efficiency Increasing investment in digital and data initiatives also pose a challenge to traditional forms of IT governance

Modern IT governance processes optimize IT resource allocation for this new environment Successful IT governance focuses on high levels of collaboration via strong communication programs that align IT and business with corporate strategic objectives rather than focusing primarily on process control and budgeting

| 6 Pages


Chris EberlyceberlynovaricacomVP Research amp Consulting


Novarica recently concluded its fifth semi-annual Silicon Valley Innovation Tour which included the opportunity to lead a delegation of senior leaders through a series of on-site visits to companies in the Bay Area This tour allows carriers to see firsthand the mechanisms that support innovation in a variety of startups venture capital firms and accelerators Silicon Valley offers a tool kit of tried-and-true approaches for insurers looking to embed innovation into their organizations

This report captures key themes that emerged from discussions during our visit in the first quarter of 2019


| 13 Pages

Topicsbull Communicating Principles

bull Developing an Innovative Environment

bull Empowering Small and Autonomous Teams

bull Removing Impediments to Improve Efficiency

bull Sourcing Talent that Embraces the Culture

bull Finding Motivated People

bull Placing the Customer at the Center

bull Balancing Project and Product Mindset

bull Creating a Product that Is Difficult to Substitute

The proper underwriting of cyber risk is a critical issue for insurers as they see strong growth in new lines of business and deal with many unknowns Cyber liability covers a broad range of risks from first-party to third-party from data breaches to physical damage resulting from hacking or malware

Established providers and startups are trying to gain a foothold in the space as the technology to help with cyber liability risk assessment matures This brief provides an overview of cyber risk assessment and discusses prominent solution providers including BitSight Technologies CyberCube CyberWrite FICO Guidewire ISOVerisk Kovrr RMS SecurityScorecard Suranceio and Willis Re


Jim KlotzjklotznovaricacomVP Research amp Consulting

| 10 Pages

As investment in data science expands challenges arise around organization new data and talent CIOs are finding that older practices and techniques wonrsquot work in this rapidly changing environment

Successful data science programs need to go outside normal channels to find and grow talent as well as to leverage technology on cloud platforms Unlike other types of investment data science ROI is hard to quantify Strong business advocacy is crucial from the outset to create a sustained capability and ensure impactful results aligned with business strategy

| 8 Pages



Insurers now have access to an unprecedented quantity of image and video data Many still manually review these data sources but limited insight can be gleaned by this method Carriers are beginning to invest in machine vision technology to process this data programmatically analyzing risk factors in photos and videos and making sense of these vast image stores Machine vision offers insurers the ability to automate scale and enhance risk evaluation while seeing gains in operational efficiency and cost reduction

This brief provides an overview of machine vision technology and current use cases in insurance It also profiles some emerging providers in this space including Cape Analytics Flyreel Pointivo Betterview Claims Genius GalaxyAI Tractable and Lapetus

| 8 Pages

Jeff GoldbergjgoldbergnovaricacomEVP Research amp Consulting



Medical malpractice insurers face a unique set of business and technology issues The space is seeing continued consolidation among carriers agents and medical professionals along with growing financial pressures resulting from a steady decline in direct written premium The technological constraints from legacy environments are also impeding insurersrsquo ability to engage clients

Carriers are consequently beginning to turn their attention to customer service and engagement making technology investments in data digital and core capabilities This report provides an overview of current trends and issues confronting the medical malpractice insurance industry as well as corresponding areas of technology investment

| 9 Pages

CIO Checklists

A CIOrsquos relationship with his or her board of directors is crucial Effective communication with the board is a key capability for any executive but for CIOs and other IT leaders itrsquos more than a key capabilitymdashitrsquos essential

This checklist is intended to be used for board meetings and presentations as well as for an IT leaderrsquos overall communications relationship with his or her board

| 6 Pages


9 Plan each communication opportunity

9 Establish internal support

9 Speak their language not ITrsquos

9 ABCmdashalways be contextual

9 Keep things simple

9 Talk about organizational benefits not technology capabilities

9 Present options but be clear about which one is best and why

9 Paint a picture of what the organization looks like after the effort

9 Donrsquot hide the risks

9 Recap and ask for support

9 Return with progress reportsmdashgood bad and ugly

The Checklist

Deb Zawiszadzawiszanovaricacom VP Research amp Consulting

Data and analytics are becoming a key differentiator in insurance especially in underwriting and claims handling It is crucial for technology leaders to harness the power of artificial intelligence machine learning and third-party data sources It is of equal importance for technology leaders to foster partnerships between technology organizations and analytics teamsmdashdoing so may mean the difference between implementing innovative solutions or traditional ones between deriving value from operationalizing analytical insights or not

This CIO Checklist provides a guide for IT leaders to build and strengthen relationships with analytics units in their organizations

| 5 Pages

9 Become an enabler

9 Co-sponsor an initiative

9 Support collaboration and team building

9 Leverage agile

9 Share talent

9 Showcase successes together

The Checklist



Facing pressures from a prolonged soft market followed by an erratic business cycle reinsurers are focusing their technology strategies on attracting insurer clients and improving profitable decision-making including core systems replacement and investments in business intelligence and modeling At the same time reinsurers are actively monitoring emerging technologies like blockchain

This report provides an overview of reinsurersrsquo business and technology issues data about the marketplace and several examples of recent technology investments by reinsurers

Key Points and Findings Business intelligence and modeling are critical Data analysis is central to the reinsurance business Pressure from competitors means moving from Excel-based analysis to more sophisticated technology Larger reinsurers are investigating AI and machine learning

Reinsurers are replacing core systems Reinsurers are centralizing business and dealing with an increase in audits and regulation rather than a drive for modern technology

Alternative capital is providing stability Despite expectations that investors would flee at the first significant cat activity most are recapitalizing The availability of capital is a factor in subdued rate increases

Topicsbull Recent market and financial trends

bull Active reinsurer landscape

bull Technology issues priorities and examples by functional area

bull Top technology priorities for 2019 and beyond

| 18 Pages



Steven KayeskayenovaricacomVP Research



Key Points and FindingsSales growth is robust for voluntary lines Critical illness accident and term life products are showing strong growth

Analytics are widely used for voluntary products Applications include enrollment identifying claims fraud member conservation sales reporting and underwriting among others

With no clear standard for group benefits information exchange carriers are considering their next move ACORD has proposed an enrollment standardmdashbut with it based on one vendorrsquos offering traction is uncertain at best

Insurers are still focusing on issues of product design enrollment marketing and continuing improvement of administrative systems Innovation is still taking a back seat to execution though carriers are expressing increased concern about the need for ldquodigital capabilitiesrdquo

This report provides an overview of group benefit providersrsquo business and technology issues data about the marketplace and several named examples of recent technology investments by group benefit providers Top technology initiatives include benefit and policy administration systems as well as distribution enablers like underwriting workbenches customer portals agent portals and easy enrollment capabilities


bull Active insurer landscape



| 22 Pages


Nancy Casbarroncasbarronovaricacom VP Research amp Consulting


Key Points and FindingsWorkflow remains the number one problem brokers face There has been significant improvement in the last year in a new class of solution providers that offer automation to support new and renewal business

Brokers are investing heavily in analytics business intelligence and (more recently) AI and related technologies Brokers are using any tool possible to profitably grow their business and to provide differentiated customer service

Portals continue to be an important area of investment for carriers working with brokers Broker demand is growing for carriers to provide straight-through processing portals for small commercial business

Large commercial brokers are investing in technology to differentiate themselves in a competitive marketplace through use of AI analytics and workflow technologies

This report provides an overview of large commercial brokersrsquo business and technology issues data about the marketplace and several examples of recent technology investments by large commercial brokers





| 19 Pages





Paul Vancheri pvancherinovaricacom VP Research amp Consulting

Novarica Market Navigators

This report provides an overview of 41 major IT services providers for North American insurers with a focus on their experience levels in key functional areas The information in this report was collected directly from the providers using a proprietary Novarica RFI The report contains a brief profile of each vendor including a chart detailing the providerrsquos experience levels in specific targeted functions

Providers include Accenture Ascend Atos Birlasoft Capgemini Centric CGI Cognizant Deloitte DXC Ebix Equisoft EY Genpact HCL Hexaware HTC IBM Infosys Jarus Kumaran LTI Majesco MFXchange Mindtree Mphasis msg NIIT NTT Data PwC RCG Silver Tree Slalom Synechron TCS Trianz ValueMomentum Virtusa Wipro Xceedance and Zensar Technologies

| 96 Pages

Tom BentontbentonnovaricacomVP Research amp Consulting


This report provides an overview of the available new business and underwriting systems and suites for US lifehealthannuity insurers The report contains profiles of each of 22 vendor solutions (both full and partial) summarizing the vendor organization technology used differentiators client base lines of business supported deployment options implementation approaches upgradesenhancements and key functionality

Vendors included Accenture Andesa Services DXC Ebix EXL FJA-US Global IQX Insurance Technologies Intellect SEEC iPipeline Limelight Health Mphasis Wyde Munich Re OneShield Oracle Pegasystems Reinsurance Group of America SAP Sapiens Swiss Re Tata Consultancy Services and Vitech Systems Group

| 171 Pages




Novarica helps more than 100 insurers make better decisions about technology projects and strategy through research advisory services and consulting

We serve clients in lifeannuityretirement propertycasualty workersrsquo compensation and reinsurance Our clients range from Fortune 100 insurers to small regionals and specialty companies Although most of our clients prefer we keep their names confidential a partial client roster includes Amica AXA XL GenRe Grange Hanover Penn Mutual ProSight Sammons SECURA and SunLife

Our senior team has direct experience as senior IT executives at firms including AIG Arbella AXA Guardian Liberty Mutual MetLife Marsh Progressive Prudential Travelers Voya and others

We publish frequent independent in-depth research on trends best practices and vendors Our research projects are directed by our senior team and leverage the knowledge of more than 300 insurer CIO members of our Research Council All reports are available to our clients without seat license restrictions

Our Strategy-as-a-Service advisory services provide on-demand phone and email consultations on any topic in insurance or technology (as well as full access to our library) Our clients have told us itrsquos like having a team of experts down the hallmdashfor a flat annual fee that is a small fraction of the cost of a single employee

Our consulting services include vendor selection benchmarking project assurance and IT strategy development They are based on our deep knowledgebase extensive relationships personal experience and proven methodologies Our clients get rapid actionable insights and guidance delivered directly by our senior team

copy 2019 Novarica Inc All rights reserved

linkedincomcompanynovarica

novarica

novaricacompodcast

Novarica Inc280 Summer Street 6th FloorBoston MA 022101-833-668-2742inquirynovaricacomnovaricacom

Emerging Technology in Insurance AI Big Data Chatbots IoT RPA and More13

SPEED TO MARKET 13FOR PROPERTYCASUALTY INSURERS13

IT Security Update 201913 2

MAINTAINING BUSINESSIT ALIGNMENT IN INSURANCE13

Next Generation Talent in Insurance13

INNOVATION IN INSURANCE 13EXPANSION AND KEY ISSUES


AGILE IN INSURANCE 13EXPANSION AND KEY ISSUES

MDM IN INSURANCE 13EXPANSION AND KEY ISSUES13

QA AND TESTING IN INSURANCE 13EXPANSION AND KEY ISSUES


Block Analysis and Life Systems Transformation13

SIMPLIFICATION AND COMPLEXITY 13IN SPECIALTY INSURANCE TECHNOLOGY

CLOUD COMPUTING PLATFORMS 13IN INSURANCE

POLICY ADMINISTRATION SYSTEM PROJECT METRICS 13 2

IT GOVERNANCE IN INSURANCE 13EXPANSION AND KEY ISSUES

ENABLING INNOVATION VOL

5 MORE LESSONS FROM SILICON VALLEY 2

CYBER RISK SCORING AND MODELING 13OVERVIEW AND PROMINENT PROVIDERS

DATA SCIENCE IN INSURANCE 13EXPANSION AND KEY ISSUES

MACHINE VISION IN INSURANCE 13USE CASES AND EMERGING PROVIDERS13

MEDICAL MALPRACTICE INSURANCE OVERVIEW AND KEY ISSUES

BEST PRACTICES IN BOARD COMMUNICATIONS FOR CIOS

BUILDING ITANALYTICS ALIGNMENT 3

Reinsurance



IT Services Providers for Insurers13

LIFEHEALTHANNUITY 13NEW BUSINESS AND UNDERWRITING SYSTEMS


Contents

Research Council StudiesEmerging Technology in Insurance AI Big Data Chatbots IoT RPA and More

Speed to Market PropertyCasualty amp LifeAnnuity Insurers

IT Security Update 2019

3

CIO Checklists Building ITAnalytics Alignment

Best Practices in Board Communications for CIOs

10

Executive Briefs amp ReportsInnovation in Insurance Expansion and Key Issues


Maintaining BusinessIT Alignment in Insurance

Next Generation Talent in Insurance

MDM in Insurance Expansion and Key Issues

Agile in Insurance Expansion and Key Issues


QA and Testing in Insurance Expansion and Key Issues

Block Analysis and Life Systems Transformation

Simplification and Complexity in Specialty Insurance Technology

Direct Online Small Commercial Insurance 2019 Update

6

Cloud Computing Platforms in Insurance

IT Governance in Insurance Expansion and Key Issues

Enabling Innovation Vol 5 More Lessons from Silicon Valley

Data Science in Insurance Expansion and Key Issues

Cyber Risk Scoring and Modeling Overview and Prominent Providers

Medical Malpractice Insurance Overview and Key Issues

Machine Vision in Insurance Use Cases and Emerging Providers


Reinsurance



11

Novarica Market NavigatorsIT Services Providers for Insurers

LifeHealthAnnuity New Business and Underwriting Systems

14

Welcome to the Novarica Research Quarterly Each issue provides a summary of recently published reports including studies of insurersrsquo technology experiences capabilities and plans from our Research Council business and technology trends CIO best practices vendor information in our Novarica Market Navigators and recent webinars and presentations All of the research summarized here is available for download by our advisory clients at novaricacom Research reports can also be purchased individually

If yoursquod like to learn more or arrange a conversation to discuss any of these topics with our senior team please contact us at inquirynovaricacom or 833-668-2742









for 2019




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The Checklist




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9 Leverage agile

9 Share talent


The Checklist












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Reinsurance
















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Reinsurance








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Reinsurance





EMERGING TECH IN INSURANCE: AI, BIG DATA, CHATBOTS, IOT ... · but early adopters report positive...

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Transcript of EMERGING TECH IN INSURANCE: AI, BIG DATA, CHATBOTS, IOT ... · but early adopters report positive...