INSide Thoughts

INSideThoughts is a regular news service from the insurance experts at Wipfli. It’s a short, concise collection top-of-mind trends, strategies, and news we’ve discovered recently.

 

Are Your Product Owners MVPs in the Insurance Game?

Feb 24, 2016
By Wipfli Insurance Team
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insurance-product-owner-MVP | Photo Courtesy of http://www.istockphoto.com/photo/word-mvp-writing-on-golden-sand-background-gm525340103-52854864 Product Owner engagement – or lack thereof – significantly impacts project success. Look for these common behaviors to determine if your Product Owner is engaged and motivated, or if they need some coaching to succeed in the insurance game.

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Six Risks That Can Sabotage Your Enterprise Technology Investment [INFOGRAPHIC]

Feb 10, 2016
By Wipfli Insurance Team
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enterprise-technology-risks | Photo Courtesy of http://www.istockphoto.com/photo/risk-level-conceptual-meter-gm500039723-42999248 If you’re aware of what could transpire, your chances of mitigating and managing risks inherent in an enterprise technology project are significantly improved. Discover the six most common risks and how you can address them.

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When It Comes to Policy Admin Systems, Plan in the Large and Agile in the Small

Feb 02, 2016
By Wipfli Insurance Team
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policy-administraion-systems-plan-large-agile-small | Photo Courtesy of http://www.istockphoto.com/photo/gold-fish-jumping-to-big-fishbowl-gm470778170-62372152 Agile strategies work with software development, but is it the only viable application? PAS replacement projects benefit from the approach when you plan in the large and agile in the small.

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Taking Agile Beyond Software Development to Large Enterprise Project Management

Jan 06, 2016
By Wipfli Insurance Team
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artificial-intelligence-and-insurance | Photo Courtesy of http://www.istockphoto.com/photo/quality-function-deployment-52119634?st=517f88c Limiting agile to software development may be doing your large enterprise project a disservice. Managing your core systems replacement sub-teams using agile strategies benefits all users in the value chain.

 

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Move it Left! Achieving the Highest Quality in PAS Software Delivery

Dec 16, 2015
By Wipfli Insurance Team
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insurance-policy-administraion-software-delivery | Photo Courtesy of http://www.istockphoto.com/photo/road-sign-77907 Take a critical look at your SDLC. There are probably artifacts in it that a development team would find useful before they even write one line of code. By choosing to “Move It Left” you can help the development team deliver a quality PAS software product by immediately improving comprehension of business context, scope boundaries, and validation approaches instead of relying solely on inspecting in quality downstream using a proven Quality Assurance team.

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Insurance Customer Engagement: Can Robots Be Intimate?

Nov 23, 2015
By Wipfli Insurance Team
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artificial-intelligence-and-insurance | Photo Courtesy of http://www.istockphoto.com/photo/brain-made-out-of-circuits-46165872 As the insurance industry looks for effective and meaningful ways to engage with customers, is artificial intelligence (AI) the answer to create greater intimacy?

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The Devil is in the Details

Nov 04, 2015
By Wipfli Insurance Team
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 the-devil-is-in-the-details | Photo Courtesy of http://www.istockphoto.com/photo/carrier-rocket-launch-46787654 If highly trained NASA scientists and engineers can make costly mistakes, your project team can too. Avoid disaster with six project management lessons from a real catastrophe.

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Policy Admin Replacement Is Scaaaaaaary Business!

Oct 28, 2015
By Wipfli Insurance Team
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 policy-admin-replecment-is-scary-business | Photo Courtesy of http://www.istockphoto.com/photo/fear-58348110 There is significant correlation between a project's success and change management's impact and, more specifically, the importance of the project sponsor role in both. The earlier the project sponsor is engaged in the project and the earlier the project sponsor embraces change management, the better the chance for success.

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Insurance And Manufacturing: Lessons In Software, Systems, And Supply Chains

Oct 21, 2015
By Wipfli Insurance Team
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 insurance-and-manufacturing-lessons-in-software-systems-and-supply-chains | Photo Courtesy of ttp://www.istockphoto.com/photo/man-with-technology-icons-floating-above-his-hand-26166734?st=84fb1fe By comparing insurance to manufacturing, companies can glean valuable insights on getting lean and agile with insurance product life cycle management.

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If You Build It They Will Come: The People Side of Last Product/Last State

Oct 14, 2015
By Wipfli Insurance Team
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 people-side-of-last-product-last-state | Photo Courtesy of http://www.istockphoto.com/photo/sharing-his-ideas-57441588 Adopting a people change management approach will help you get the most value from your technology investment and achieve last product/last state in a new policy admin system more quickly.
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Last Product/Last State and Legacy Reporting

Oct 06, 2015
By Wipfli Insurance Team
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 last-product-last-state-and-legacy-reporting | Photo Courtesy of http://www.istockphoto.com/photo/paperwork-22021041 While you're getting your new PAS up and running with first product/first state, you should consider your data reporting needs in parallel, including a visualization platform and a long-term data repository.
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Last Product/Last State and Insurance Product Changes

Sep 02, 2015
By Wipfli Insurance Team
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last-product-last-state-and-insurance-product-change | Photo Courtesy of http://www.istockphoto.com/photo/businessman-jumping-over-gap-24671165 Implementing a new PAS is the perfect time to get your insurance products cleaned up and enhanced the way you want them. Doing so, however, either requires moving products "as-is" to the new system or bringing up revised products in the new system right away. Both methods present their own unique challenges for getting to last product/last state.
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Gaining Speed to Get to Last Product/Last State While Managing Risk

Aug 24, 2015
By Wipfli Insurance Team
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gaining-speed-to-get-to-last-product-last-state-while-managing-risk | Photo Courtesy of http://www.graphicstock.com/stock-image/speed-orange-vector-abstract.html Until you get to your last product in your last state and unplug the old Policy Admin System (PAS), you won’t fully achieve the business case for the new one. Yet companies often decelerate and even apply the brakes after the first product/first state goes live as a way to manage risk – but it doesn’t have to be this way.
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It's Not First Product/First State...It's Last Product/Last State

Jul 28, 2015
By Wipfli Insurance Team
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 its-not-first-product-first-state-its-last-product-last-state | Photo Courtesy of http://www.istockphoto.com/photo/don-t-look-back-concept-56313492 When you go live with that first product/first state in a new policy admin system (PAS), it's a cause to celebrate…but not for too long. Because until you get to your last product in your last state and unplug the old PAS, you won’t fully achieve the business case.
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Six Things To Know To Be a Better Core Systems Buyer

Apr 16, 2015
By Wipfli Insurance Team
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six-things-to-know-to-be-a-better-core-systems-buyer | Photo Courtesy of istockphoto http://www.istockphoto.com/photo/computer-laptop-keypad-buy-button-11899165 A core systems replacement project (CSRP) is one of the biggest an organization may ever undertake. It’s a big investment, so it’s important to mitigate risks and reduce the likelihood of missteps. While we could write volumes about the process of ensuring success, we’ll start here with 6 areas of consideration, each with questions that should be asked as part of core systems strategy and planning.
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Change Management - It Goes Way Beyond Training

Apr 10, 2015
By Wipfli Insurance Team
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 change-management-it-goes-way-beyond-training | Photo Courtesy of http://www.istockphoto.com/photo/change-decision-making-concept-35517866 There is significant correlation between a project's success and change management's impact and, more specifically, the importance of the project sponsor role in both. The earlier the project sponsor is engaged in the project and the earlier the project sponsor embraces change management, the better the chance for success.

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Insurance Core System Success – It’s about the People (He Said to Himself)

Apr 03, 2015
By Wipfli Insurance Team
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 insurance-core-system-success-it’s-about-the-people | Photo Courtesy of istockphoto http://www.istockphoto.com/photo/discussing-project-42829194 Business results are achieved when a core system replacement project is successfully implemented, moving some part of the organization from a current state to a desired future state. But the future state is only achieved when individual contributors do their jobs differently – making their own transition from the current state to the future state.
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Preparing for a Core System Replacement Project - Part 3: Additional Advice for the Business People

Mar 27, 2015
By Wipfli Insurance Team
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preparing-for-core-system-replacement-business-team-advice | Photo Courtesy of istockphoto http://www.istockphoto.com/photo/young-business-team-working-outdoor-51830408 Core system replacement can be both challenging and exciting. Non-IT business professionals involved in such a large project need to be prepared to be fully engaged throughout the process to enact effective change. Here are three pieces of advice for how they can accomplish that.
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Preparing for a Core System Replacement Project - Part 2: Additional Advice for the IT Team

Mar 23, 2015
By Wipfli Insurance Team
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preparing-for-core-system-replacement-IT-advice | Photo Courtesy of istockphoto http://www.istockphoto.com/photo/be-prepared-18154109 A core system replacement project will put a strain on your IT team. Alleviate the strain with great project governance, getting some outside help, preparing the team for a big shift, and putting your best people on the project.
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Preparing for a Core System Replacement Project - Part One

Mar 13, 2015
By Wipfli Insurance Team
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preparing-for-core-system-replacement | Photo Courtesy of istockphoto http://www.istockphoto.com/vector/are-you-ready-22734514 Core system replacement projects are big, they are risky, and fraught with potential pitfalls. So before you begin one of these projects, prepare for success by considering the following four pieces of advice.
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Big Data and the Insurance Agent

Feb 06, 2015
By Wipfli Insurance Team
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big-data-and-the-insurance-agent | Photo Courtesy of istockphoto http://www.istockphoto.com/photo/female-hands-hold-a-tablet-with-system-smart-house-39089378 As home automation/monitoring systems compile big data, insurance agents may soon be analyzing it to determine what filters to tighten, what sensors to de-activate, etc., to reduce risk and provide customers with the right coverage at the right price.
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The IT/Business Intelligence Professionals Hippocratic Oath

Jan 20, 2015
By Wipfli Insurance Team
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the-it-business-intelligence-professionals-hippocratic-oath | Photo Courtesy of istockphoto http://www.istockphoto.com/photo/ineeds-and-wants-balance-25062973 There is often a difference between what business people want and what they really need. As IT/BI professionals, our Hippocratic oath involves listening to what they say they want and learning enough about the business to deliver what they really need.
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What To Focus On When Implementing Predictive Analytics

Dec 17, 2014
By Wipfli Insurance Team
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implementing predictive analytics for insurance | Photo Courtesy of istockphoto http://www.istockphoto.com/photo/iris-scan-security-10436537 When deciding to implement predictive analytics, it is important to benchmark yourself against other companies to see how they are using them. However, you need to ensure that you focus on implementing analytics in the business areas that will provide the greatest benefit for your specific operation.
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To Define The Right Insurance Metrics, You Need To Begin With the End In Mind

Nov 21, 2014
By Wipfli Insurance Team
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insurance-metrics-begin-with-end-in-mind | Photo Courtesy of istockphoto http://www.istockphoto.com/photo/businesswoman-solving-maze-problem-27068069 BI projects need to move from left to right. That is, we need to start with the decision maker and identify the decisions or actions they make and take, and which decisions, if made poorly, will cost the most money. From there we determine the questions to be answered or metrics to be collected to support such decisions.
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A [Data] Picture is Worth 1,000 Words

Nov 05, 2014
By Wipfli Insurance Team
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insurance-business—data-visualization | Photo Courtesy of istockphoto http://www.istockphoto.com/vector/handdrawn-set-of-infographic-elements-49149600 So it is time to embark on your business intelligence journey — Where do you begin? Start small with data visualization. Most people are visual and seeing well-designed charts and graphs allows them to more quickly absorb information than they could with a traditional report.
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Insurance Business Intelligence Requires Logical Thought, Not Hip-shooting

Sep 22, 2014
By Wipfli Insurance Team
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insurance-business—intelligence-analytics | Photo Courtesy of istockphoto http://www.istockphoto.com/photo/analytics-word-cloud-on-digital-tablet-30372630 After insurance companies spend all kinds of time and money on Business Intelligence (BI) projects, why do they often question, if not lament, the investment and start re-directing future IT investments elsewhere? The primary reason I see time-and-again is that nothing changed with implementation. The BI system produces all kinds of interesting information, but it’s only looked at here and there…and discarded before the decision maker gets on with making those decisions!
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You Can't Afford to Do Nothing: Why You Need Insurance Analytics Now

Sep 14, 2014
By Wipfli Insurance Team
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why-you-need-insurance-analytics | Photo Courtesy of istockphoto http://www.istockphoto.com/photo/businessman-hand-showing-chart-on-virtual-screen-27719652 For years now, the large insurance companies have been all over analytics and “Big Data”; using it to improve business decision making. The perception may be that that analytics and Big Data are the domain of large companies; they have the money and the data. True, but with today’s technology, small- and medium-sized companies can do a lot.
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Three Questions to Ask when Evaluating Core System Replacement

Aug 20, 2014
By Wipfli Insurance Team
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“evaluating The replacement of core business systems in insurance is one of the largest and most complex operational changes an organization can go through. In order to make a good choice, one that you can live with for the next decade or more of use, consider these three questions as you begin evaluating the need for core system replacement.
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Why Are You Doing This? Core System Replacements are Hard…and Scary

Jul 23, 2014
By Wipfli Insurance Team
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core software system replacement | Photo Courtesy of thinkstockphotos 
http://www.thinkstockphotos.com/image/stock-photo-businessman-with-question-mark/468003169/ To be successful in the search for new systems and to tee up the implementation for success, it’s really important to have a well thought out, well-documented answer to the question, “Why are we doing this?
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Musings from the 2014 IASA: How Insurance PAS Are Changing

Jul 09, 2014
By Wipfli Insurance Team
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“IASA This year's IASA 2014 in Indianapolis was filled with discussions around Policy Admin Systems (PAS). Here's a summary of what we learned on how PAS is changing.
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How Can Implementation Lessons Inform the Software Selection Process?

Jun 30, 2014
By Wipfli Insurance Team
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software selection process | Photo Courtesy of thinkstockphotos http://www.thinkstockphotos.com/image/stock-photo-for-business/482052715 We’ve all read stories of big Policy Admin Systems (PAS) software projects run amok with cost overruns and failed implementations. One can categorize just about every failure in one or more of 6 different risk “buckets”. Learn how to use this knowledge and experience to inform the software selection process.
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Who Goes There? Caring for Customers and Their Data

Apr 03, 2014
By Wipfli Insurance Team
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empower-employees |Photo Courtesy of	thinkstockphotos http://www.thinkstockphotos.com/image/stock-photo-customer-or-employees-care-concept/176436790/ We live in an age in which more information is recorded about individuals than at any other time in history. That information is not simply what it was in the pre-internet age:  the nuts and bolts of their address, age, and other basic demographics.  
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Roads Less Traveled: Mapping Our Customers’ Journeys

Mar 26, 2014
By Wipfli Insurance Team
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empower-employees |Photo Courtesy of	thinkstockphotos http://www.thinkstockphotos.com/image/stock-photo-road/146006614/ We may be aware that our customers’ experience of our company and the services it offers is not as good as it should be. The challenge for us arises when we try to do something about it.
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Customer Segmentation in Today's World

Mar 13, 2014
By Wipfli Insurance Team
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empower-employees |Photo Courtesy of	thinkstockphotos http://www.thinkstockphotos.com/image/stock-illustration-pie-chart/481931657/ Spoiler alert - all customers are not created equal!  Insurance companies have been forever segmenting customers.  Such as, Marine Insurance in Italy as early as the 14th century based on what trade routes they were sailing, the 7-class plan in auto (dating myself with the 7-class plan, not 1300s marine insurance), and today with hardcore analytics.

 

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Defining Customer Lifetime Value in the Insurance Industry

Feb 27, 2014
By Wipfli Insurance Team
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empower-employees |Photo Courtesy of	thinkstockphotos http://www.thinkstockphotos.com/image/stock-photo-clv-acronym/490927513/ Most of you are probably familiar with the term Customer Lifetime Value (CLV or LTV).  What exactly does it mean for Insurance and is it useful?  Like a lot of models, there is value in understanding what it does and doesn’t mean. 

 

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Walking a Mile in our Customers’ Shoes

Feb 21, 2014
By Wipfli Insurance Team
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empower-employees |Photo Courtesy of	thinkstockphotos http://www.thinkstockphotos.com/image/stock-photo-close-up-of-sport-shoes-running/482785807/ We pay a lot of attention to the bottom line and that is a good thing.  We like it when we can complete the last step of the sales process and convert all of our work into cash.  We have a business because of our customers!
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Your customers and social media

Feb 14, 2014
By Wipfli Insurance Team
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global communications:
http://www.istockphoto.com/photo/golbal-communications-24499619/ Sincerity and credibility are key components of a social engagement approach. At the end of the day you will need a social strategy to implement and enthusiastic executive and employee support to drive it forward.
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360 Degree Customer View....Oh it is way more than that!

Feb 05, 2014
By Wipfli Insurance Team
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empower-employees |Photo Courtesy of	thinkstockphotos http://www.istockphoto.com/photo/graph-14939181/ If you are a P&C Insurance carrier, does improved retention sound good to you? What would you think about decreased claim expense? More referrals from existing clients? One key to accomplishing one or all of the above simply might be pleasing clients.
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4 Guiding User Experience Principles for P&C Insurance Carriers

Jan 28, 2014
By Wipfli Insurance Team
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The proliferation of smartphones (what, you don’t own an iPhone or an Android phone?) has done more than provide a platform for potential insurance company-policyholder interactions.  It has raised the bar on user expectations. The consumer friendly UI, and its resultant positive User Experience, will continue to make its way deep into the business world of apps.

 
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Close Customer Encounters – Do We Treat Our Customers as Aliens?

Jan 21, 2014
By Wipfli Insurance Team
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Customers are not as rare as aliens – if they are the company has bigger problems – but the nature of their interaction with a company can also be classified using a scale depending on the relative intimacy of the experience.
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Moving Beyond the Transactional Relationship

Jan 14, 2014
By Wipfli Insurance Team
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Moving past an Insurance carrier's transactional relationship with a customer to a more intimate relationship requires 3 things:  A strategy, data and tools to interpret the data acquired.  Not an easy proposition.

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The Consumer Risk App

Nov 12, 2013
By Wipfli Insurance Team
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I have had very few breakthrough ideas…well actually I have had none to date as evidenced by my working status…but there has got to be a better way to “consumer-ize” insurance. Here goes.

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Competing For…and Winning…the Next Generation of Insurance Leaders

Oct 14, 2013
By Wipfli Insurance Team
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The insurance industry is facing a crisis. Twenty percent of the insurance workforce is near retirement age, compared to only 15 percent of the broader financial services workforce. By just 2018, the number of the insurance workforce at near retirement age climbs to 25 percent. No insurance company appears in Universum’s list of the”100 Most Desirable MBA Employers.”

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Thoughts from the 2013 National Association of Mutual Insurance Companies Annual Conference

Sep 25, 2013
By Wipfli Insurance Team
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Great keynote at NAMIC today; Stan Slap, author of Bury My Heart at Conference Room B.
 
I am more convinced than ever that leadership is an art. But more importantly I am reminded what a valuable service the insurance industry provides. Long gone are the days when the neighbors got together to rebuild the barn lost to fire. So first, thank you to all of you who work in this industry.
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Predictive Analytics: Is it Good for the Customer?

Apr 29, 2013
By Wipfli Insurance Team
Comments (0)
Predictive analytics. A cold phrase, is it not? Cold. Imposing. Formidable. Big Brother. Minority Report. (Remember the Tom Cruise movie?) A practice that’s good for the insurance company, but bad for everyone else. But is it really?
 
At the core of insurance fundamentals is the need to set prices to match the risks. Insurance companies, as part of good customer service, attempt to help their policyholders reduce their risks.   As in loss control. Safety engineering. Risk management. 
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Company Impairment, yes it’s a complex issue, but . . .

Mar 25, 2013
By Wipfli Insurance Team
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Of the 18 L&H and P&C company impairments for 2012, only one is being directly attributed to catastrophic losses, according to a study published by A.M. Best’s. The others are a combination of deficient loss reserves and inadequate pricing. Wow! That implies to me that 17 are in companies’ hands, not nature’s.
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It’s an interesting business

Feb 07, 2013
By Wipfli Insurance Team
Comments (0)
Thank goodness for investment income . . . still.
 
I get the economics of the P&C insurance business, but it still fascinates me. I was just reading an article that talked about the 2012 first nine month results. For every $100 the U.S. P&C business took in, it paid out $100.10. As the old watermelon joke goes, maybe we can make it up in volume.
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What is the “Big” Deal - Haven’t we always had “Big Data”?

Jan 22, 2013
By Wipfli Insurance Team
Comments (0)
I find this terminology fascinating, and boy is it everywhere these days. Seems like every newsletter I receive has something about Big Data in it. I can’t figure out if people are trying to explain something or scare people. Maybe it’s a euphemism for “lots and lots of complex data.” Insurance has always had lots and lots of data. Big Data sounds like font size to an insurance industry veteran like me.
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The All-Important User Experience

Jan 07, 2013
By Wipfli Insurance Team
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User Experience, a/k/a UX, is a big thing now. We know this because all the various think tanks (Gartner, Forrester, et al.) are writing fancy whitepapers about it while vendors harp on how their new products and software enhance and support it. But what is it exactly?

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The Insurance Executive’s Guide to Project Sponsorship

Nov 21, 2012
By Wipfli Insurance Team
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The Standish Group’s research into the reasons why IT projects fail, and conversely what contributes to success, identified several critical factors. One is executive management support.
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Data Visualization: Gray Matters

Nov 05, 2012
By Wipfli Insurance Team
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There is at least a touch of irony in typing text for a blog on data visualization (irony accepted without hesitation). Yet visualization and how the brain receives information are issues well worth pondering, since they are central to business intelligence (BI) success.
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Business Intelligence for the Team

Oct 22, 2012
By Wipfli Insurance Team
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Recently I was working with a very smart client regarding Business Intelligence (BI) needs analysis and implementation. When I read about BI, almost everything is about using BI to analyze the business, but this client’s desires centered on managing their team and their work flow. Brilliant!
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The Devil is in the Detail - Part 2

Oct 03, 2012
By Wipfli Insurance Team
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The Mars Climate Orbiter was lost over the planet Mars in 1999 due to a failure to align measurements in two software programs. Responsibility for this error was owned publicly by Lockheed Martin Astronautics whose representative stated simply that the need for alignment was “overlooked.”

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The Devil is in the Detail - Part 1

Sep 10, 2012
By Wipfli Insurance Team
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What can we learn from a real space mission catastrophe, for instance the loss of the 1999 Mars Climate Orbiter (MCO)?
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IT and Iced Tea

Aug 28, 2012
By Wipfli Insurance Team
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Today I walked into one of those immensely popular coffee shops; you know the one that’s practically on every corner? I frequent this particular location less than once a week. I am not a coffee drinker, but I like their iced tea…and the classic coffee cake. But I digress.

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How an Agile approach might just save your life in an alien world.

Aug 07, 2012
By Wipfli Insurance Team
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It might seem a bit of a stretch to compare the building of a policy administration system (PAS) for an insurance company to flying across space in order to investigate the origins of life on an alien planet, but bear with me.
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Agile BI Part II

Jul 25, 2012
By Wipfli Insurance Team
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In a previous blog, “Is Agile BI an Oxymoron?” I talked about the “natural” fit between business intelligence and an agile implementation approach, and also pointed out some key differences. In Part II, I examine these differences and associated challenges more closely.
 
 
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Musings from IASA: Peters, Stein & Branson

Jun 07, 2012
By Wipfli Insurance Team
Comments (1)

Just back from IASA 2012 with these thoughts...

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Musings From ACORD 2012…When the First Derivative Changed Signs

May 24, 2012
By Wipfli Insurance Team
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Just back from ACORD 2012 with these three thoughts...
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Not Your Father's CRM

May 10, 2012
By Wipfli Insurance Team
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When I mention CRM systems, do some of you cringe? I understand the feeling. I am experienced (old) enough to remember the first attempt at CRM systems in the P&C industry.
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Is Agile BI an Oxymoron?

Apr 02, 2012
By Wipfli Insurance Team
Comments (1)
It’s been roughly 10 years since those world-famous programming gurus came out of the Wasatch mountains of Utah preaching revolution with something called the “agile manifesto.” And in the custom software development world there indeed has been a revolution of sorts.
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Overcoming Newton’s Laws (of Business)

Feb 14, 2012
By Wipfli Insurance Team
Comments (0)
We humans aren’t always up for change as evidenced by Newton’s laws.
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Supply Chain: The Kinks in Your Links

Feb 06, 2012
By Wipfli Insurance Team
Comments (1)

In this three-part blog series, I’m comparing insurance to manufacturing. I’ve talked about the key breakthrough in insurance software of the separation of product from policy. And I’ve addressed how the product itself needs an unambiguous way of being defined — the product model— to get to one version of the truth for both IT and business people. Now let’s consider the beginning of the product, that is, its “supply chain.”

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From Muddled to Modeled

Dec 20, 2011
By Wipfli Insurance Team
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In my previous blog, I compared insurance to manufacturing (to a degree) and talked about the key breakthrough in insurance software—the separation of product from policy. But what is an insurance product, at least in respect to systems automation?

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Predictive Analytics: A Modeling Tool Without Talent is Just a Tool

Nov 22, 2011
By Wipfli Insurance Team
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What industry do you know that is primarily a business of decision making? This business doesn’t build products … it doesn’t ship hard goods … it doesn’t provide a service that is consumed by its clients. But it does provide a highly valuable service when called upon. And what business do you know that has arguably more historical data about past decisions than other industries?

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Insurance is not Manufacturing but…

Nov 07, 2011
By Wipfli Insurance Team
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Vendor software packages have really improved their architecture over the last several years is by providing the capability in their policy admin systems for companies to “drop” in very specific product information along with associated variations into a very generic transaction system.

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Will Your BI Initiative Be Classic Fashion or Fad?

Oct 17, 2011
By Wipfli Insurance Team
Comments (1)
You can’t swing an optical mouse nowadays without hitting an article about business intelligence (BI). It’s all the rage and rightly so. With the countless sources of data available to companies, analytics are critical to making well-informed decisions.
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Have We Fallen Out of Orbit?

Sep 12, 2011
By Wipfli Insurance Team
Comments (0)
I recently read that this year’s storms, together with the earthquakes in Japan and New Zealand have caused $55 billion in insured losses. That amount is twice the cat losses of the first half of 2010 and four times the 10-year average.
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Fiercely Focused on…the Insurance Industry

Aug 31, 2011
By Wipfli Insurance Team
Comments (4)
Recently, Wipfli formalized its consulting practices to include a focus on serving the insurance industry. I’m proud to be part of this effort, and proud to have spent the better part of 30 years in insurance. The insurance industry I know is made up of quality, honest, helpful people performing a valuable service.
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