Insurance in the Asia-Pacific region faces its own set of business challenges, and insurance technology has evolved along a distinctive path. In a new report, Model Insurer Asia 2011: Case Studies of Effective Technology Use in Insurance, Celent recognizes 18 insurance technology initiatives as model insurer components.
These best practices in the use of technology span key areas of the product and policyholder lifecycle, including product definition, distribution, underwriting, policy administration, service, claims, and infrastructure. The report also reviews IT best practices and measurable business results used in evaluating the model insurer components.
"Effective use of technology is more important than pursuit of technology for its own sake," says Wenli Yuan, senior analyst with Celent's Asian financial services group and author of the report. "This is the common thread among every selected model insurer component, and the decision each insurer should be proud of."
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