Welcome!

News Feed Item

Survey Shows Property Catching Up to Auto on Innovation

Poll Conducted Among 130 Senior Insurance Executives Shows 'Culture' as Limiting Innovation

NEEDHAM, MA -- (Marketwired) -- 04/29/14 -- Enservio, Inc. today released the results of a survey on innovation it conducted among 130 senior P&C executives attending the invitation-only Property Innovation Summit held in Boston earlier this month. The survey examined trends in innovation such as an organization's capacity to innovate, the perceived obstacles limiting innovation, areas of investment, and other initiatives.

Optimism prevailed when it came to executives ranking their companies on a scale of one to 10 pending its "ability to innovate". Most survey respondents (32%) gave their companies a seven, and 23% gave a thumbs-up nine. When asked why they decided to attend the Summit, 68% said "to increase my ability to lead others." Interestingly, zero percent selected "to influence my boss to innovate."

A majority of respondents (53%) cited 'culture' as a stumbling block to pursuing innovative ideas within the walls at their companies. Sixteen percent cited "failure not acceptable" as standing in the way of innovation. This was interpreted to mean that organizations typically have a low tolerance for failure or for projects that have a high probability to fail.

The insurance industry has largely benefited from investments made in automobile technology, as evidenced by innovations made with driverless cars, collison avoidance sensors, and telematics equipment. Yet in terms of where companies feel they need to innovate most when given the choice between auto and property, a vast majority (73%) cited 'property' as the area calling for the most need for innovation.

"We heard many viewpoints on innovation at this year's Summit and for the first time we polled the audience to gauge current sentiments," said Jon McNeill, Enservio CEO. "Overall, the mood was upbeat despite a few challenges. Auto has clearly made great inroads, and property is next in line to witness some positive changes and inventive thinking."

When asked about the current state of their innovation plans between auto and property, executives were almost evenly divided, with property receiving 55% of the total vote.

More than 130 senior property insurance executives flocked to Boston to hear presentations by industry thought leaders and university professors including Clayton Christensen of Harvard, CNN political analyst David Gergen, and Oklahoma Commissioner of Insurance, John Doak. The objective of the event was to provide an open forum to share insights and thought leadership on current trends in innovation.

Insurance service providers ITEL, Corelogic Insurance Solutions, Fourseventy Claim Management, Symbility, Innovation Group, Simsol, and Belfor, were sponsors of the event. To inquire about attending next year's invitation-only Summit, please contact Joel Makhluf at [email protected] or call (781) 292-6050.

About Enservio, Inc.
Enservio® software and services help you solve one of the biggest issues in property insurance - knowing what's inside an insured's home or business. This visibility helps you right-price your policies upfront, settle claims quickly and accurately, manage replacements to keep customers happy, as well as run your business more efficiently. Founded in 2004, we are headquartered in Needham, MA, with offices and professional staff across the U.S. Enservio is a strategic partner of the National Insurance Crime Bureau (NICB) in their continued fight against insurance fraud. For additional information, please visit the company's web site www.enservio.com or call 888.567.7557. Connect with Enservio via LinkedIn (http://us.linkedin.com/company/enservio), Twitter (https://twitter.com/enservio), and Facebook (https://www.facebook.com/enservio).

Enservio is a registered trademark of Enservio, Inc. All other trademarks referenced are the property of their respective holders.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Media Contact:
Victor Cruz
Principal
MediaPR
(978) 768-6888
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, Cloud Expo and @ThingsExpo are two of the most important technology events of the year. Since its launch over eight years ago, Cloud Expo and @ThingsExpo have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, I provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading the...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
"Storage is growing. All of IDC's estimates say that unstructured data is now 80% of the world's data. We provide storage systems that can actually deal with that scale of data - software-defined storage systems," stated Paul Turner, Chief Product and Marketing Officer at Cloudian, in this SYS-CON.tv interview at 17th Cloud Expo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software securi...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business. Though, IoT is far more complex than most firms expected with a majority of IoT projects having failed. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, Chief IoTologist at Wipro, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology portfolios and business models to adopt and leverage IoT. He will delve in...