Tony Boobier is a former worldwide insurance executive at IBM focusing on analytics and is now operating as an independent writer and consultant. He entered the insurance industry 30 years ago. After more than 20 years working for insurance carriers and intermediaries in customer-facing operational roles, he crossed over to the world of technology in 2006, recognizing it as one of the great enablers of change in an increasingly complex world.
Based in London, he is an award-winning insurance professional, holding fellowship qualifications in engineering, insurance and marketing, “with other stuff picked up along the way.” A frequent writer and international public speaker, he has had many articles published on a wide range of topics over the past two decades, ranging from claims management to analytical insight, including best-practice documents.
His insurance focus is both broad and deep, covering general insurance, life and pension, healthcare and reinsurance. He is particularly interested in the cross-fertilization of ideas across industries and geographies and in the “big data” agenda, which he believes will transform the insurance industry. “I lie awake at night thinking about the convergence between insurance and technology,” he says.
There’s a lot of it about. Insurtech and technology, that is. New ways of doing stuff. Breaking traditional distribution models and deconstructing established supply chains. Who could not be excited? But there’s another side to this coin, and that’s the issue of established practice. Insurance isn’t a new gig, like telematics, but something that’s been […]
It’s been an interesting few days/weeks in U.S. politics, especially when viewed from London. In the words of James Bond, some of us have been “shaken, not stirred.” Bond was, of course, referring to his dry martini. Perhaps it has been the occasional martini that has carried us through rough times in London. Recently, the […]
So we all feel we have a tough deal. Creating a product, reducing claims ratios, improving profitability – and even being the captain of the ship when all around us the waters are turbulent, and storms are on the horizon. But I wanted to share with you what I think is one of the most […]
As we think about the changes that will inevitably happen within the insurance industry, we also have to recognize that these changes will be reflected in a transformation of the leadership function. Of course, we have to distinguish between leadership and organizational power. “Power” usually comes from the ability to influence and give direction to […]
On the day after the U.K. referendum voted to leave the European Union, a leading U.K. newspaper ran a cartoon with the caption, “Democracy is too important to be left to the people.” Of course, it was tongue in cheek, but the point was well made. Since the vote, markets globally have tumbled, shares in […]
In insurance, location is everything. It helps insurers understand where the risks are, whether there has been accidental (or deliberate) accumulation of risk and where their customers are. Location helps insurers optimize their distribution strategy, their claims services deployment, their supply chain and even how they market and advertise their services. The technologies of location […]
On June 23, 2016, the U.K. population will vote on whether to stay a part of the E.U.’s 28 countries or to leave. It’s a once-in-a-generation decision, and it is likely to dominate U.K. press for the next six months. But what impact would a British exit, or “Brexit.” have on the insurance industry? A report by […]
In its most recent report, “Tomorrow’s World; the Future of Aging in the U.K.,” the International Longevity Centre, a think tank focused on longevity, population and aging, painted a gloomy picture. The report says: That the social care system is crumbling, and social class will heavily affect the life experience of the aged. That housing […]
There’s no shortage of evidence that homeworkers appear to make happy employees, because of, among other things, flexibility, empowerment and better time management. According to experts (http://globalworkplaceanalytics.com/resources/people-telecommute), an estimated three million American professionals never set foot in an office outside of their own home, and 54% say they are happier that way. But what about […]
I’m beginning to feel like a Keystone Cop. You know the one; he’s the guy hanging on the back of the police car for dear life as the car speeds around the corner in hot pursuit of something. Let me explain: For most of my professional career I have worked in the insurance industry, and […]
I am beginning to wonder more about insurance conferences. Over the course of my career, I have attended and spoken at numerous external events, some good, some less so. I have presented in the English language and through simultaneous translation and had translators stand by my side and paraphrase what I have said. In reality, […]
I’m thinking more about the “Insurance of Things.” I’m not alone. There’s an increasing amount of speculation about the “Internet of Things,” and I’m wondering how this will apply to insurance. With an estimated 15 billion networked devices by 2015 and fridges that can already tell me they have ran out of eggs, it seems […]
We – writers and readers of this site alike – are kindred spirits. We are the “Lighthouse family” because we all want to, or need to, climb to the top of the lighthouse to see what’s over the horizon. We know we can’t always change what’s coming toward us, but we can be ready, perhaps […]
Less than 10% of people keep their New Year’s resolutions for at least six months, according to research from Cancer Research UK, with half breaking their resolutions within a fortnight, blaming a lack of will power. 20% planned to cut back on alcohol, others to spend less money (34%), cut down on chocolate (21% and […]
I was thinking recently about humor in insurance, oddly enough coinciding with the recent final performance by the Monty Python team in London. Insurance was on the Python’s radar, even offered as a safer alternative to being a lumberjack. There was one notable sketch about motor insurance. I must confess I’m almost nervous about reminding everyone […]
One of the main UK newspapers has just published the best – and worst – UK insurers based on customer surveys. The scoring was based on communication, speed to settle a claim, helpfulness, value for money and overall service. Those at the top of the list will be invariably patting themselves on the back, and those at […]
My eye was caught recently by a small classified ad in the Miami Herald for a care establishment for the elderly called The Door of Heaven. It’s in Fort Lauderdale, if you don’t believe me. The title is a little presumptious and maybe assumes that everyone staying there has pre-qualified for the next (better) life. Less […]
I had the pleasure of attending a conference on analytics recently. It felt like a religious experience. As each speaker announced a new capability or widget, there was a respectful round of applause from the audience, many of whom, it must be said, work in the back offices of their organizations and probably aren’t allowed […]
I was intrigued if not slightly jealous about the results of a survey of the 3,000 new millionaires from the UK Lottery, and how they spent their money. Among other things, they spent £463 million ($740 million) on new cars, which equates to £155,000 ($249,000) a person. That’s a lot of new metal. I do hope they bought insurance, as well. Receiving […]
The original intention of the EU's Solvency 2, the regulatory requirement for capital held by insurers, was to create a framework that inspired policyholder confidence and restore trust. The real outcome was to force insurers to undertake massive programs of data management at costs that, for some Tier 1 insurers, have exceeded $200 million. Some insurers said they would […]
I am intrigued by the continuing trend of pursuing competitive advantage through early adoption of analytics, and the concept of “first mover advantage,” but was taken aback by a contrary view expressed at a recent round table on compliance and risk. There, it was suggested that, because of uncertainty about the requirements of insurance regulators, it […]