Mobile Development at Security Benefit Corporation

Successful Insurance R&D
by Michael Fitzgerald, February 14, 2012
Case Studies
North America

Abstract

Delivering innovation and introducing mobile technology are issues facing C-level executives in many insurance companies. How does a leader transform a traditional organization to react to a quickly changing market? How can IT organizations deliver business functionality on platforms that can be accessed any place at any time?

A new report, Mobile Development at Security Benefit Corporation, provides an example of how one insurance company, Security Benefit, challenged its service provider to deliver innovation in mobile technology. The study demonstrates how the provider, se², incubated and protected the innovation effort and details the process used to determine how to proceed with mobile development.

“Successful innovation in the delivery of insurance services to customers and intermediaries is a challenge that all insurers face,” says Mike Fitzgerald, Senior Analyst with Celent’s Insurance Group and author of the report. “Culture, process and incentives must be aligned to sustain continual research, development, and implementation.

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
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

3

Introduction

4

The Innovation Challenge

6

The Innovation Process

7

Results

9

Going Forward

11

Key Success Factors

12

Lessons Learned

13

Conclusion

14

Leveraging Celent’s Expertise

15

 

Support for Financial Institutions

15

 

Support for Vendors

15

Related Celent Research

16

Sign in to download reports and access personalized information