July 21, 2021
Two Boston, Mass.-based advisory and research firms for the insurance industry are now one. Aite Group and Novarica Inc. said they have merged to create Aite-Novarica Group. The move comes with an investment by Pamlico Capital, a Charlotte, North Carolina-based …
March 4, 2020
Over the past decade, selling small commercial insurance directly online to customers has gone from an outlandish idea to a reality. In a new report, research and advisory firm Novarica projects significant growth in the market as insurtechs and major …
March 15, 2019
This week President Trump grounded the Boeing 737 Max as a result of a crash of a second plane in Africa. The plane had already been grounded in Canada, China, the EU, UK, etc. There is a lot riding on …
February 14, 2019
Changes in small business owners’ online habits and new market entrants are driving market demand for online purchasing of insurance, according to a report from advisory firm Novarica, which sees direct online sales capturing as much as 15 percent of …
March 14, 2018
Large commercial brokers transacting business with multiple carriers and distributors are seeking to differentiate themselves in a competitive marketplace through improved technology such as artificial intelligenceI, analytics and workflow tools. In a new report, Business and Technology Trends: Large Commercial …
July 18, 2017
A new report by the research and advisory firm, Novarica, shows that commercial insurance carriers are modernizing policy administration systems and agent portals to support complexities of business. Novarica also says use of drones, internet of things (IoT), and mobile …
November 2, 2016
Novarica, a research and advisory firm focused on insurance technology strategy, announced that Jim Klotz has joined the firm as a vice president of research and consulting. Prior to joining Novarica, Klotz spent 15 years as the senior vice president …
October 19, 2016
At a time when technology startups are also targeting the small commercial insurance market, giant Allstate has debuted a hi-tech business insurance quoting platform that it says makes it possible for small business owners to buy a policy in about …
October 17, 2016
Despite the increased challenges facing insurers from new technology-enabled competitors, insurers’ 2017 information technology budgets look a lot like those of prior years, according to consulting firm Novarica. Novarica’s annual study of U.S. insurer IT budgets and projects analyzes results …
January 29, 2016
Repeatedly, we have described 2015 as the “year the future arrived for insurance.” Across the board, we saw significant changes in how carriers thought about the impact of new technology and innovation. It was the year in which the Millennial …