Game Revolution: Gamification in the Insurance Industry

by Karlyn Carnahan, May 12, 2014
Industry Trends
Global, North America


Gamification is an emerging field in the insurance industry.

Gamification is defined as the application of game elements and design techniques to solve real world problems. Effectively applying gamification techniques requires an understanding of some basic principles.

A variety of techniques and components can be used, and there are a variety of risks and challenges to address. However, games are increasing in popularity, and gamification techniques are being used in a variety of ways to drive real world results.

This report covers the mechanisms of gamification, shows why it has such tremendous potential in the insurance industry, and provides guidance on how to use it effectively.

“Insurance carriers are looking for new, effective ways to address growth and efficiency challenges,” says Karlyn Carnahan, Research Director with Celent’s Insurance group and author of the report. “Gamification techniques are just starting to be used in the insurance industry, but are showing definite results when executed well. Adding elements of fun, competition, and rewards can generate real business results.”

This report provides an introduction to gamification. It describes gamification techniques and guidance on how to gamify a particular process. It includes an overview of designing and using game elements, including key components and reward structures. It provides multiple examples of gamification in the insurance industry as well as examples from other industries. An overview of regulatory and legal issues is included. Technology considerations are described, and key technology providers are identified. Guidance is provided on setting up governance and defining metrics.

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].

Media Contacts

North America
Michele Pace
Tel: +1 212 345 1366

Europe (London)
Chris Williams
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary







General Uses of Gamification



How to Gamify



Designing and Using Game Elements



Reward Structures



Enterprise Applications



Why Gamification Fails



Legal Issues



Building Blocks


Looking Forward


Leveraging Celent’s Expertise



Support for Financial Institutions



Support for Vendors


Related Celent Research


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