Boardroom Series: How to Capture the Strategic Value of Web 2.0

by Nicolas Michellod, October 6, 2009
Operations/ Benchmarking
Global, Asia-Pacific, EMEA, Latin America, North America


Celent's monthly Boardroom Series explores the current challenges faced by insurance companies, helping C-level executives prepare for the next "hard question" their Boards of Directors are likely to ask. Each brief focuses on a single question, provides Celent's view of the issues behind the question, and defines specific action steps that will position a carrier to deliver an effective response.

The third installment of this series is How to Capture the Strategic Value of Web 2.0. Web 2.0 technologies trigger questions companies of all kinds have to answer. There is no escape for insurers either. They need to reflect on some important questions posed by Web 2.0. Celent believes two questions are of the highest importance: How can Web 2.0 impact the insurance value chain? What value can it bring to the insurance business?

"For most insurers, technologies improving usability are believed to provide the greatest value," says Nicolas Michellod, senior analyst with Celent’s Insurance Group and author of the report. "This can be achieved internally through improved processes and externally through enhanced online insurance sales platforms."

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

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