Lessons for Insurers from Banking and Fintech

At Novarica, we’ve noted that many emerging tech advances are implemented in banking first, followed in five years or so by property and casualty insurers, then after another five year lag they begin to appear at life and annuity carriers. In fact, at the recent LOMA Life Insurance Conference I mentioned that implementation of core systems in the cloud appears to be following a five year lag between P/C and L/A carriers and vendors.