http://www.insurancenetworking.com/news/insurance_technology_Novarica_mobile_iPad-26603-1.html
Tablet Computing Boom Ahead For Insurers
Insurance mobility state-of-the-market reports predict unprecedented adoption rate of tablets by P&C and life/health carriers.
Insurance Networking News, December 3, 2010
Insurers across both property and casualty and life/health are evaluating 2011 mobile technology plans, and many are following a model used by banks, airlines, hotels and other service providers that are focused on improving transaction and service levels, reports Novarica in two new reports on the subject.
In spite of assumptions that the life/health providers may desire mobility to beef up presentation capabilities (such as with use of an iPad or other tablets) among its distribution network, there is stronger interest in mobile tech among P&C carriers that are being driven to invest in consumer applications that support the front office.
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Novarica shed some light this week with state-of-the-market research reports that provide insight into the platforms, usage patterns, expectations of business value and investment strategies in play for both sectors.
The New York-based research and advisory firm tapped its Insurance Technology Research Council to capture data from a cross-section of 14 life/health carriers and 61 property/casualty insurers (all sizes were represented, with 62% representing mid-size carriers).
Interest and investments in the technologies that support mobility, reports Novarica, are a bit higher for P&C versus life/health. In 2010, the average investment in mobile technologies was 1.98% of life/health carriers’ IT budget. This is expected to increase to 2.43% in 2011. Only 21% of those surveyed spent less than 0.1% of their IT budgets on mobile technologies. No participant in the life/health study currently spends or plans to spend more than 5% of their IT budgets on mobile technology, reports Novarica.
Novarica points to an important qualifying factor with regards to investment by life/health carriers in mobile technologies: If core systems have been replaced or modernized, mobile is not a particularly expensive proposition.
This can be very beneficial for more front-line employees like claims adjusters and sales representatives. It can provide greater mobility for these workers, as well as an enhanced customer experience by using the new technology. In terms of more of a "behind the scenes" employee like myself in Pricing, we may not see the widespread usage of tablets except when we decide to bring our personal tablets to work for note taking.
I do not know much about the health insurance industry, however since there has been such a boom in technology usage and more specifically tablet usage in the health care industry, I was surprised to find that investments in technologies that support mobility such as tablets is higher in the property and casualty insurance industry than in the health insurance industry. P&C carriers are spending more of their IT budgets on mobile technology. We have recently been discussing whether or not tablets can potentially replace computers, and according to this article, tablet usage may outgrow laptop usage because of the cost differential, increased battery life with the tablet versus the laptop, and ease of use. They predict tablet usage to grow nearly 20%.
This can be very beneficial for more front-line employees like claims adjusters and sales representatives. It can provide greater mobility for these workers, as well as an enhanced customer experience by using the new technology. In terms of more of a "behind the scenes" employee like myself in Pricing, we may not see the widespread usage of tablets except when we decide to bring our personal tablets to work for note taking.
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