As pointed out in Insurtech: Processes are Ripe for Disruption, wearable technology can make an impact on the insurance industry’s product development, customer service, and claims processing processes. Wearable fitness devices, like watches and wristbands, are already providing insurers with access to customer data by tracking health behaviors and habits. Insurers are using this data to offer personalized service, improve risk assessment and pricing, and build customer engagement. The health insurance sector, pointed out by Dorota Zimnoch in How Digital Is Disrupting the Insurance Sector, is using IoT and wearable technology in these ways: Vitality, the UK health and life insurer, rewards customers for being healthy by collecting data via wearable devices like Garmin, Polar, Read more
Anne Mullaney oversees Cutter's marketing and product development activities and in-house editorial/research teams. She has more than 25 years experience in the high-tech publishing business. Read more ...
Recently, Cutter Fellow Steve Andriole took a wide look at insurtech. His insight, and a collection of articles on the topic, appear in a recent issue of Cutter Business Technology Journal (CBTJ). What exactly is insurtech? According to Investopedia, insurtech refers to: the use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model.… The belief driving insurtech companies is that the insurance industry is ripe for innovation and disruption.” Steve Andriole has a unique perspective on insurtech having served as CTO and Senior VP for Technology Strategy at CIGNA Corporation, a $20 billion global insurance and financial services company. Writes Steve: The insurance industry is very quickly evolving, Read more
Nokia let the smartphone get away; Blockbuster never saw Netflix coming to steal its lunch. These are just two of the most frequently cited cases of incumbent businesses that didn’t pay enough attention to the disruptive potential of innovation by a new entrant or competitor. Your company needs to be aware of the imminent reality of being disrupted if it doesn’t stay ahead of the disruption curve. How do you stay ahead? By starting innovation as early as possible. You’ve heard it many times: fail early, fail often. Or, as Lekshmy Sasidharan wrote in a recent Cutter Consortium Executive Report: Begin adopting the disruptive and emerging technologies most relevant to your current and future business Read more
A few months ago, I wrote about Cutter Consortium’s ongoing survey to gain insight into how organizations are adopting — or planning to adopt — blockchain technology. Cutter Senior Consultant Curt Hall has been analyzing the data and interviewing respondents to discover the stories behind the numbers. In a couple of recent Executive Updates, he examined domains and industries where blockchain technology is likely to have the most significant impact. The three leading domains, as you might have guessed and can see in the figure below, are banking/financial services, digital rights management (DRM), and supply chain/logistics. Figure 1 – In which industries and domains do you see blockchain having the most significant impact? It’s not Read more
Think about the challenge interpreters at the United Nations undertake. First, they need to understand the concepts being communicated. Next, they translate the concepts for people who speak different languages — without coloring the information with their own perspectives. These interpreters use an “internal resource” that maps terms and concepts. In the business technology world, when we formalize or automate such a resource, we create a conceptual reference model. Because the terms and concepts in conceptual reference models represent the “stuff of the business,” not the stuff of IT, they make sense to business stakeholders. In his recent Executive Update, Connecting Inside and Outside the Enterprise, Cutter Consortium Senior Consultant Cory Casanave makes the case Read more
The cloud industry is loosely defined, unregulated, and quickly evolving. The typical cloud service provider (CSP) business model is very uniform. It looks the same across all industries — there’s no per-tenant service customization, CSPs don’t offer one-off contracts, and they don’t bend their terms and conditions for customers in any specific industries. So can you use a CSP if your organization is in a highly-regulated industry? Steve Chambers, a Cutter Consortium Senior Consultant and expert on the CSP industry, explains: Some CSPs enthusiastically embrace industry regulators as they see it as a competitive advantage. These CSPs build their own assurance programs that any customer can audit, effectively meeting an industry regulator halfway by supporting the Read more
Starting next week, if your organization is a reasonably sophisticated Amazon Web Services (AWS) cloud user, it no longer has to pay a “minimum hour tax.” Sounds pretty good, doesn’t it? Who is “reasonably sophisticated”? According to Cutter Consortium Senior Consultant Steve Chambers, you’re sophisticated if you fall into one of these three categories: You use DevOps CI/CD pipelines that build up and tear down environments all day. You use an auto-scaling group managing a fleet of small instances that elastically grow and shrink on demand. You have smaller and more variable, unpredictable workloads (startups, anyone?) How do AWS’s new billing options — pay by the hour, second, or even millisecond — make an impact? Read more