Mike Fitzgerald is a senior analyst with Celent’s insurance practice. He has specific expertise in property/casualty automation, operations management and insurance product development. his research focuses on innovation, insurance business processes and operations, social media and distribution management.
Fitzgerald brings extensive industry experience to the analyst role. Before joining Celent, he was vice president of enterprise underwriting solutions at Zurich North America, where he led the evaluation of technology alternatives to support a new underwriting product development process. He held a number of positions at Royal & Sun Alliance, including a field operations regional executive role. His technology implementation experience includes the installation and maintenance of billing, automobile policy administration and workers’ compensation automation. In the 1990s, Fitzgerald led an initiative that delivered one of the first global online technical underwriting and claims learning platforms in the insurance industry.
Mr. Fitzgerald has a bachelor of arts in economics from Davidson College and an MBA from the Fuqua School of Business at Duke University. He is a chartered property casualty underwriter (CPCU) and a certified project management professional (PMP).
Incumbent insurers face both challenges and opportunities from concurrent forces. Dramatically changing customer expectations and low investment returns threaten both property and casualty and life insurers. Declining participation rates and indifference from millennial consumers restrict growth in life companies. Technologies such as driverless cars and sensors (Internet of Things) promise to shrink revenue in P&C. To […]
The long-term sustainable value from insurtech lies in its ability to change how insurance products are created. The economic model behind how startups bring their products to market is bending — no, breaking — the traditional development cost curve. Insurers that recognize this dynamic and adjust their innovation activities accordingly will create more value from […]
There once was an immutable law in business: to increase quality, you must increase cost. In other words, to make something better, you must spend more. The principle seems quaint now given the generally held expectation that we should get more and pay less at the same time. One reason for this change in mindset […]
In the world of commercial insurance, there exists the very curious role of risk manager. I mean curious in the sense that successful risk managers appear to have superpowers. They are charged with taking the actions necessary to avoid or reduce the consequence of risk across an entire enterprise. Their knowledge must extend deeply into […]
In insurance, sales are usually periodic, but risks are continuous. In personal lines, for example, annual or semiannual automobile renewals are automated, and a customer may not speak with an agent or a representative of an insurer for an extended period. Insureds do not receive continual rick consultation, because it is high-touch and high-cost, and […]
Much has been written about the promise of digital technology to change insurance. But what does this mean in practical terms? Can digital technology reshape traditional patterns of engagement between insurers and their customers that have existed for decades (or centuries)? Can technology create a value proposition that avoids a zero sum game and benefits […]