Matthew Josefowicz is the president and CEO of Novarica. He is a widely published and often-cited expert on insurance and financial services technology, operations and e-business issues who has presented his research and thought leadership at numerous industry conferences.
Over the past 15 years, he has worked directly with dozens of U.S. and international CIOs to advise them on IT strategy and solution selection and has written more than 100 reports on insurance technology issues. He is also the lead moderator of the Novarica Insurance Technology Research Council.
Before launching Novarica in 2007, he founded the global insurance group at analyst firm Celent and led it for more than six years. His other experience includes work at hedge fund D. E. Shaw.
He holds a B.A. magna cum laude from Brown University.
Insurers will continue to experiment with emerging technology in 2021, despite the challenges of 2020. When the COVID-19 pandemic hit, many insurers paused their 2020 innovation plans, emphasizing digital workflows and cost control at the expense of emerging technology pilots. Heading into 2021, technology priorities for many insurers, especially those in the property/casualty space, are […]
At InsureTech Connect, there were a lot of innovative approaches and capabilities on display. But the term “bubble” could be heard on many attendees’ lips, especially those who’d watched the event double in size each year. In related news, Deloitte put out a report showing that although the flood of insurtech funding continues, funding for […]
At the 11th Annual Novarica Insurance Technology Research Council meeting, two keynotes laid out some fundamental issues for the industry to address. Novarica Keynote: Key Insurance and Technology Trends for 2018 and Beyond If I had to pick out a single dominant theme of my presentation on Novarica’s recent research and guidance to clients, it […]
Sometimes, finding the answer in confusing times is really a matter of knowing the right questions to ask. For example, the Novarica Nine Insurance and Technology Trends for 2018 and Beyond looks at three groups of three key issues: External trends, like disaggregation of value, the insurtech bubble and drive for innovation leveraging emerging technology. […]
In recent years, insurers have taken an active interest in a wide range of tools and technologies that fall under the “emerging” label. This label covers a spectrum: Tech approaching ubiquity, like mobile and predictive analytics, is on one end, and tech with low adoption rates, like blockchain and smart home, populates the other end. […]
I have tracked insurer IT budgeting and planning for more than a decade. During that time, there has been one major shift: Core systems replacement went mainstream as fear of inaction surpassed fear of change. Otherwise, I used to joke that I could republish a prior year’s study and no one would notice. This year, […]
Digital, data and core capabilities have changed dramatically over the last decade and continue to evolve rapidly. To help insurers track these capabilities and their progress, we created the Novarica New Normal 100 benchmark, which we’ve conducted for the last few years. In this article, we’ll discuss the role of digital, data and core capabilities […]
Bill Gates famously said that we always overestimate the amount of change that will occur in the next two years and underestimate the change that will occur in the next 10. Looking back 10 years, we find a world devoid of iPads, iPhones, mobile apps, big data technologies, the Internet of Things, viable driverless cars […]
Billions of dollars of investment are flowing into startups focusing on insurtech. From the viewpoint of investors, anything that has to do with using technology in the insurance industry can be labeled insurtech. For incumbent insurers, however, this broad term is unfortunately not very useful for coming to an understanding of the many start-ups focused […]
The good news from the PCI Tech Conference in 2015 is that futurists like Vivek Wadhwa give the insurance industry at least three to five years before it is disrupted beyond recognition by data, analytics, the Internet of Things, self-driving cars, 3D printing, hyper-aggressive technology companies and essentially free energy. The bad news is, many […]