Innovation in Insurance Becomes a Reality

ID Number: G00158232

3 June 2008

Kimberly Harris-Ferrante

Innovation has become a major focus among Gartner insurance clients. Identifying new business strategies to differentiate and improve business performance, as well as technologies that will enable or disrupt the industry, is imperative for market success.

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Table of Contents

Analysis

1.0

Introduction

2.0

Innovation and Insurers

2.1		Facing the Innovation Facts
2.2		Insurers Must Get in Step

3.0

Examples of Innovation in Insurance

3.1		Expanding Into New Target Markets or Consumer Segments
3.2		Creating New Insurance Products
3.3		Using New Devices and Channels to Reach Consumers
3.4		Focusing on Improving Communications and Transactions With Distributors
3.5		Introducing Streamlined Processes
3.6		Managing the Value Chain
3.7		Adopting an Internet-Driven Business Model
3.8		New Staffing Models

4.0

Challenges to Innovation

5.0

Recommendations

Recommended Reading

Accelerating Innovation
Insurance Systems
Product Innovation

© 2008 Gartner, Inc. and/or its Affiliates. All Rights Reserved. Reproduction and distribution of this publication in any form without prior written permission is forbidden. The information contained herein has been obtained from sources believed to be reliable. Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although Gartner's research may discuss legal issues related to the information technology business, Gartner does not provide legal advice or services and its research should not be construed or used as such. Gartner shall have no liability for errors, omissions or inadequacies in the information contained herein or for interpretations thereof. The opinions expressed herein are subject to change without notice.

Resource Id: 685507