In a new report, Changing Networks, Changing Insurers, Celent analyzes how networks are changing and how smart insurers will use those changes to their advantage. Changes in networks have a mutually reinforcing relationship with changes in the communication-intensive technologies—creating a new enabled technology stack. These changes in networks and network-enabled technologies have led to four major changes in how insurers’ work gets done. There are more interactions, fewer but more important decisions made by line workers, more available information, and a changing relationship between productivity and effectiveness.
"Networks are changing. More people and types of devices are connected to them, sending and receiving more varieties of content and using more accessible and greater levels of bandwidth," said Donald Light, senior analyst and author of the report.
This report uses the impact of today's network technology on insurance companies as a departure point. It looks three to five years into the future, asking how foreseeable changes in network technology will change what insurers do and how they do it. It also discusses the implications for an individual insurer’s competitive position and for the economic and social functions performed by the industry as a whole.