Novarica News
CIO Checklist: COVID-19 Highlights Need to Revisit Continuity Plans
The importance of well-documented business continuity and disaster recovery plans has reached new urgency with insurers. Natural disasters and cybersecurity issues are on the rise, and new threats ...
Let’s Chat: Bot Invasion in P/C Insurance
The use of chatbots by property/casualty insurers is growing but still limited. While only about 13 percent of P/C carriers have currently deployed this emerging technology, over 25 percent have a ...Research & Trends: Your Key to Meeting 2019 Business Objectives
Research & Trends launches a new whitepaper sponsored by West Point Insurance Services, offering highlights from Novarica's recent "2019 IT Budgets and Projections Report." Carriers' top business ...
New P/C Insurance Products Delayed by Old Policy Form Tech: Novarica
A reliance on manual processes and inadequate technology leaves property/casualty insurers with major delays in updating their coverage forms. A new industry report found that as a result, most ...
Saying ‘No’ Key to Strategic Success
How do you achieve "a durable advantage in the marketplace?" By understanding the difference between "operational excellence and strategy," according to Amy Friedrich, senior vice president of the ...
Novarica’s Take: Try Culture and Free Food
In a report published in April, "Managing Innovation in Insurance," Novarica revealed that 46 percent of large P/C insurers and 31 percent of midsize P/C insurers are expanding innovation programs. ...
Insurers Risk Plenty by Keeping Their Technology Budgets Static: Novarica
Insurers' technology budgets remain flat in an age of disruption and technology - a risky move in the face of increased rivalry from tech-enabled upstart competitors, consulting firm Novarica said in ...
Millennials Prefer Online Shopping, Hate ‘Being Sold to’: Novarica Report
Carriers looking to attract millennial consumers need to make it easy to research and shop online, according to a new report, which found that 75 percent of respondents prefer shopping online rather ...