Editors' Cuts

Ask and You Shall Receive Disruption

Carrie Burns
Insurance Experts' Forum, August 31, 2012

As I prepare for some upcoming travel, I’m taking a hard look at Celent’s Insurance Symposium-Creative Disruption: Technology and the Future of Insurance in a few weeks.

Since I went to this event last year, I took a look back at what I had written about it. “More—or Even Some—Disruption, Please,” was the headline of my blog post. I recall being skeptical of the event, wondering if insurers can cultivate creative disruption? If so, how? However, I soon realized that day the value and possibilities. And, in my aforementioned blog post, I echoed a comment from an audience member at the end of the day: “I wish there was more disruption.”

Fast forward a year: We got it.

At this year’s event, three insurers will take to the stage to give us attendees “some” and “more” disruption from the past, present and future:

   * John Roblin, Former CIO, Chubb Insurance, will review the implementation of Chubb Masterpiece, a product in the personal lines P&C industry. Chubb identified an underserved part of the market—high net worth individuals—and constructed a unique service and technology proposition to meet their unique needs.

   * Tom Hammond, EVP, agency operations, BOLT Insurance Agency, will discuss BOLT’s efforts involving process, people and technology to provide service to small businesses. Their growth is just beginning to take off, demonstrating the up market march that is characteristic of the disruptive approach.

   * Davinder Singh, head of third party distribution and products DLF Pramerica Life Insurance Co. Ltd., will highlight the company’s microinsurance product for the Indian market. The proposition will deliver coverage to low-income households, which typically cannot afford any insurance protection. The lessons learned can be applied to other product development initiatives, which seek to open markets with high growth potential that previously were thought to be unattractive.

These are very different examples, but I’ll be one of those people waiting in line to talk to each of these speakers after their session. But, moreover, it will be interesting to see if the conversations I have with people at the event will be much different than last year. In looking at this year’s agenda, I’m predicting they will.

And, since it worked out so well last year, I just have to figure out what to ask for this year. Any suggestions?

Carrie Burns is Editor in Chief for Insurance Networking News.

Readers are encouraged to respond to Carrie by using the “Add Your Comments” box below. She also can be reached at carrie.burns@sourcemedia.com.

This blog was exclusively written for Insurance Networking News. It may not be reposted or reused without permission from Insurance Networking News.

Comments (0)

Be the first to comment on this post using the section below.

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

How Insurers Can Develop Thoroughly Modern Mainframes

The user experience can make or break an application. Here are five ways to measure whether itís positive or negative.

The Peer-to-Peer Economy and the Uberization of Insurance

Insurance is about risk sharing, so what better model to bring in technology and make that risk sharing as efficient and effective as possible?

Rethinking Commercial Lines Underwriting Automation

The value an insurer can achieve from the powerful combination of a modern policy system and a complete suite of advanced underwriting solutions will far outweigh any effort involved.

Students are Pushed to Look Past Obstacles, and so Should We

Student teams, in the space of a few weeks, developed a variety of fresh ideas leveraging unique technologies that could help build products and services for insurance customers.

The Best Policy Administration System I Have Ever Seen

So many systems we view look like they screens were designed by a programmer and, worse, could only be used by a programmer.

Living with the Internet of Things (and crowd funding)

The Internet of Things has itís teething problems.