Novarica, a research and advisory firm focused on operations and technology strategy for insurers and financial institutions, launched the inaugural edition of its Novarica Cool Capabilities report series, highlighting five clever applications of technology by U.S. insurers.
"As industry observers, we are frequently asked what we've seen lately that's 'cool,'"
says Matthew Josefowicz, director of Novarica and lead author of the report. "Most of our research is focused on helping CIOs solve big problems and complex issues. But every once in a while we come across something that a company has done that just makes us say, 'That's a really good idea.' Most often, these involve using simple technology to solve small nagging problems, or to simplify unnecessarily complex processes."
Each quarter, Novarica's Cool Capabilities reports will highlight a handful of technology-enabled business capabilities that are notable for their simplicity and utility. The current report features profiles of:
- Progressive Insurance, for its VIN look-up capability, which simplifies the online application process.
- Montana State Fund, for creating a Certification Watermark that incents business users to prioritize data quality and governance.
- Privilege Underwriters Reciprocal Exchange (PURE), for its interactive e-billing and e-delivery capabilities.
- PacificComp, for its agent upload capability that leverages the data embedded in the standard PDFs output by agency management systems.
- Patriot Risk Management, Inc, for deploying iPads to replace laptops for some field personnel and senior executives.
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