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ITA Pro Weekly, June 29,2020

Data science is gelato, SIMON/EbixExchange integration, insurance innovation is alive and kicking, and more…

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Hot off the presses!

Everybody loves ice cream, but gelato takes the experience to a whole new level. In a new blog post, Celent senior analyst Marty Ellingsworth examines how data science has transformed the traditional actuarial experience into something even better.

“The entirety of the whole experience they described as data science. Data science is an aspiration of wonder dolloped as consumable understanding of complexity and made as simple as placing a scoop in a dish. Actionable information that can be easily served and consumed is data science at its best.”

 

SIMON Markets LLC and SIMON Annuities and Insurance Services LLC announced integration with AnnuityNet, EbixExchange’s order-entry solution for annuity transactions. The partnership promises to tap into new markets for annuity sales by seamlessly connecting wealth management advisors on SIMON’s cloud-based annuities platform to insurance carrier offerings, creating a simplified, end-to-end annuity sales experience.

“Ebix offers a powerful integration solution that supports the fast-paced connectivity needs of financial advisors in today’s world. We’re excited by the opportunity to partner with their team, streamline the wealth management experience for more advisors on our platform, and drive enhanced digital engagement for the annuities industry as a whole,” said Jason Broder, CEO of SIMON.

 

Insurance innovation is alive and kicking! And Denise Garth of Majesco should know -- she helped judge the 2020 Innovation in Insurance Awards. In this blog post, Denise examines the trends that are driving outside-of-the-box insurtech thinking.

“So how are insurers innovating?  In the submissions this year, there clearly are leaders who are creating a burning platform for change and are forward thinking. They understand the intersection of customer, technology and market boundary shifts by blazing new trails to the future. These leaders distinguish themselves with a stronger focus on initiatives instrumental to creating a new business model, including channel expansion, entering new markets, adding value-added services and developing new products.”

 
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