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
Posts Tagged 'Blockchain'
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
Cutter Consortium has been conducting a survey to gain insight into how organizations are adopting — or planning to adopt — blockchain technology. A few weeks ago, I reported on some of the finding about who is leading the blockchain efforts in organizations. A significant indicator of how far a new technology has penetrated the mainstream enterprise is the extent that organizations are budgeting for its adoption or usage. Cutter Senior Consultant Curt Hall is analyzing the data for a series of Executive Updates, and recently revealed his findings about budgeting for blockchain. Current budgeting for blockchain efforts in the enterprise is quite limited, with less than 20% of surveyed organizations having done so. (See Figure 1 below.) Read more
Early adopters of interconnected digital technologies in the industrial sector are realizing the benefits of improvements in operational efficiencies, productivity, safety, cost savings, profitability, and customer engagement and satisfaction. These technologies include those related to the IIoT movement such as AI, machine learning, big data, predictive analytics, machine-to-machine communication, and blockchain. Industries in the manufacturing, energy, utilities, automotive, and aviation sectors, to name a few, are capitalizing on investments in these revolutionary technologies. An upcoming issue of Cutter Business Technology Journal with Guest Editors Patrikakis Charalampos and Jose Barbosa will examine emerging trends and strategies in digital transformation in the industrial sector. How are IIoT, predictive analytics, AI, big data, blockchain, and other technologies being Read more
Cutter Consortium has been conducting a survey to gain insight into how organizations are adopting — or planning to adopt — blockchain technology. We are also looking to identify important issues organizations are encountering (or foresee encountering) in their blockchain efforts. In addition to analyzing the data, Cutter Senior Consultant Curt Hall has been conducting phone interviews with leaders and practitioners from different organizations who are implementing or working to implement blockchain applications. Their opinions and recommendations on using the technology add depth and richness to Curt’s analysis. Curt will be presenting his findings in a series of Executive Updates over the next couple of months. Hall’s first Executive Update, published last week, examined the initial survey Read more
Is there a case for blockchain in your organization? Cutter Business Technology Journal contributing authors Steven Kursh and Arthur Schnure recently argued that companies should begin considering which parts of their organization might benefit from blockchain. Among their advice to CIOs and CTOs is to look for areas of friction when it comes to exchange of value or information that would benefit from a blockchain implementation and profit from a shared ledger system. Write Kursh and Schnure, “Take a page from IBM, which announced in July 2016 that it plans to implement a solution to help its finance division resolve client and partner disputes. IBM believes the new system — one of the largest commercial rollouts of Read more
We are currently in the midst of the Fintech revolution. It is evident that technology is significantly transforming and disrupting the financial services landscape. This presents significant opportunities and challenges for incumbents, start-ups and regulatory bodies. Fintech is evolving, moving beyond simply being the realm of start-up disruptors, with many incumbents now making significant R&D investments and many are collaborating with start-ups. Both interest and investment in Fintech has exploded in the last few years. Fintech, the intersection between finance and technology, has experienced a 67% growth in investment in the first quarter of 2016, with investment reaching $5.3 billion (Accenture, 2016). PwC (2016) report that 83% of financial companies believe that specific aspects of Read more