Insurers Look to Analytics Tools for Answers

A trio of professors (Ajay Agrawal, Joshua Gans and Avi Goldfarb) at the University of Toronto recently published an article in the Harvard Business Review, entitled, The Simple Economics of Machine Intelligence.  They make the point that, “Technological revolutions tend to involve some important activity becoming cheap” and for machine intelligence that will happen with […]

Reflections from the 2016 Insurance Analytics Conference

Avanade was a track sponsor for this year’s Insurance Analytics conference in New Orleans.  Not only was I able to indulge in a beignet at the famed café du monde in the French quarter, but I had the distinct pleasure of speaking with many people about how they see analytics impacting their business. By my […]

Insurance Agencies Look to Digital to Hold on to Customers

The insurance industry is in the middle of a radical operational shift. The traditional agency model of customers working solely and directly with an agent is giving way to a direct-to-consumer digital model that gives customers hands-on ability to make their own choices and purchase decision. That means  insurance agencies should be able to provide […]

Making The Move to Digital Simpler For Insurers

Back in May, my inaugural post was titled the “Five Things Successful Digital Insurers Know” where I highlighted a few of the important concepts driving the conversation around digital.  In the background, Avanade was working tirelessly to transform these concepts into something tangible for our clients.  Avanade recently produced a video (see below) that highlights […]

The Internet of Things from Both Sides of the Insurance Looking Glass

The Internet of Things (IoT) as applied to the insurance industry is starting to carve out three natural grooves in terms of use cases: Automotive telematics Home / facility / equipment monitoring Health maintenance There are other very interesting cases emerging like combining IoT and smart contracts for ‘wire-level’ cyber security coverage, but in today’s […]

Heading Down the Rabbit Hole with Blockchain

I’ve seen some pretty cool stuff over the years in technology and financial services.  Lately I’ve been going down the proverbial rabbit hole with blockchain and I have to confess I haven’t been this excited since I downloaded the source code for Mosaic, written by some guy named Marc at the University of Illinois.  I’m […]

Insurance Industry Allows Disruptive Technology to Flourish

Now that the holiday spending frenzy is over and credit cards are beginning to cool to the touch, I’d like to wind the clock back to the days shortly before there was Amazon, eBay and PayPal. Remember when buying products on the Internet meant going to a web site, locating a phone number and calling […]

The New Hotness: CRM in Insurance

CRM’s role in insurance makes me think of the film Men in Black II from 2002.  In the scene where Agent K, despite having amnesia, intuitively believes he should drive the flashy new company car, the now experienced, but still junior Agent J explains in simple terms why in fact the keys belong to him: […]

A Toast to Personalized Insurance

Over 15 million toasters were sold last year.  As everyone knows, toasters toast bread, but among those 15 million purchase events there is a particular breed of individual who, when the mood strikes for warm bread, want their bread warmed to perfection.  These self-proclaimed ‘toast snobs’ don’t buy from the local big box store, they […]