If you’re familiar with the expression, “Loose lips sink ships,” you understand why too much information (TMI) can be a bad thing. By the same token, too little information (TLI) can be equally bad. Case in point: The insurance industry seems conspicuously tight-lipped when it comes to information about implementations. As a result, there’s precious […]
We saw this question the other day: How much chain could a blockchain block if a blockchain could block chain? It accompanied this cartoon: We’re not trying to play similar word games with insurance. But we can’t help wondering: How much insurance could an insurance company write if an insurance company had insurance for its […]
According to FinTech Global, this may not be the best time to be getting involved in insurtech. As of May, 2017, interest in insurtech was on the wane. Investments in insurtech were down more than 70 percent in the first quarter of 2017 vs. the first quarter of 2016. And here in North America, plumbing […]
We once heard it said that most companies replace systems before they’ve used 80 percent of those systems’ capabilities or capacities. We were skeptical at first. But the more we thought about it, and the more we looked at systems, the more true it became. Here’s why: Most companies decide to replace systems because of […]
Given the business we’re in, we like to keep an eye on the trends, attitudes, and inclinations of the companies we might consider prospects in the industry we’re in, that being insurance. Consequently, we took note of a survey of 396 CIOs and technology leaders by the consulting firm, Protiviti. Two things in particular caught our […]
Whenever someone refers to the proverbial Three Ps, they’re typically referring to the prevailing wisdom about the way in which businesses should value their assets. In that context, they’re referring to: People Process Product. In that context, we agree with those Three Ps. But some others are worthy of consideration. We offer them here for […]
We’re quite aware of the fact that the insurance industry has considerably more than its share of acronyms. With examples like ASOP, BOP, CRIS, DEC, and others for every letter of the alphabet, we hardly need any more. But we’ve decided to create one, nevertheless: OWN. We’ll forgive you if the first thing you think […]
For all the talk about insurtech, we still live in a world of aging systems, outdated architectures, all required to keep pace with the countless processes required to run an insurance business. Why is that? Much of what’s being touted as insurtech comes from people new to the insurance industry. People who do work in […]
Since we’re in the insurance-technology business, we tend to bristle a bit when we hear and read things about the insurance industry’s ostensible lagging behind some other industries in the adoption of technology. Granting the existence of such lagging, why do people assume it’s a symptom of technology aversion, as opposed to, say, good business […]
We’re nearing the end of 2018. If you’re a regular reader of this blog, you might be tempted to think legacy replacements are behind us by now. But you’d be wrong, in part because technology is the least of the challenges we face. A bigger one is change management. And change management is all about […]
