Celent Says

Halftime Between Spring Insurance Shows

Craig Weber
Insurance Experts' Forum, June 3, 2011

It’s halftime between the major spring insurance shows (ACORD LOMA and IASA), and here’s a scoring breakdown:

* Optimism leads Pessimism by a score of 13 to 2. The Pessimism coaching staff is still plotting its comeback at IASA, but I have to say that the odds of getting Pessimism into the win column are very low.

* Las Vegas oddsmakers agree, as they are shifting the action away from Optimism’s likely win to a discussion of how soon Optimism can deliver benefits from specific projects. Our take, from many conversations at ACORD LOMA, is that compressing the project benefit timeline to 9 to 12 months (down from 12 to 18 months previously) is a high priority for many carriers.

* The strongest players for Optimism were Core Systems Renewal and Improving The Customer Experience. Fans of these players seem to be coming out of the woodwork rapidly, and Celent expects game jerseys with these names on the back to be hot sellers for the balance of 2011.

* Of course, BI and Analytics are making strong contributions as well, which is a continuation of the game summary from last season. Many carrier general managers have their scouts out looking for more data sources and the tools to help BI and Analytics perform better on the field, so this story should continue to develop. (Our upcoming Data Mastery report is looking at these trends closely.)

* Three rookies–Mobility, SaaS, and Social Media–all had strong contributions at ACORD LOMA, and they appear to be fresh and ready for IASA as well. Carriers who were prescient and bought the rookie cards for these three probably may find those cards to be quite valuable, sooner than later.

As usual, Celent was an active participant at ACORD LOMA, and we’ll be at IASA in force as well. (See us online at http://celent.com/news-and-events/events/iasa-2011-educational-conference-business-show.) Expect a full game summary after the show!

Share and enjoy.

 

Comments (1)

Optimist people are always ahead of the pessimist.
Also i really enjoyed this post..
Thanks for the post.
It was very interesting.
drug detox facility

Posted by: Eugene I | June 4, 2011 3:46 AM

Report this Comment

Add Your Comments...

Already Registered?

If you have already registered to Insurance Networking News, please use the form below to login. When completed you will immeditely be directed to post a comment.

Forgot your password?

Not Registered?

You must be registered to post a comment. Click here to register.

Blog Archive

Driving Growth Through Distribution Management

In the current hyper-competitive marketplace, many carriers are focusing on improving their distribution practices as a key technique for driving growth.

The Start of a New Era: Digital Retailers and Insurance

Insurers from all around the world are making great efforts to become digital.

Google and Insurance: One Year Later

Google is getting the approval for selling insurance on their compare site in a large number of states via a number of different insurance partners.

How IT Managers Can Get Close to Policyholders

Four steps CIOs need to take to lead insurance organizations to greater “customer obsession.”

Strategic Initiatives for 2015: Making Sense of the Shifts

Insurers must choose between embracing innovation or just continuing with business as usual and run the risk of becoming a casualty in the new competitive battle.

To Stay in the Game, Insurers Must Aggressively Embrace New Consumer Technologies

Emerging technologies displayed at the CES could be some of the greatest change agents since the introduction of the Internet, offering breakthroughs that could challenge many businesses.