Denise Garth

Denise Garth

Denise Garth is senior vice president, strategic marketing, responsible for leading marketing, industry relations and innovation in support of Majesco’s client-centric strategy. Garth is a recognized industry leader with both P&C and L&A insurance experience as a CIO and business executive with deep international ties in Asia and Europe through her ACORD leadership role.

Garth is an acknowledged strategic thinker, innovation leader, international speaker and author of thought leadership and articles regarding the key issues and opportunities facing the industry today as it tries to prepare for the future.

Prior to joining Majesco, Garth held business and technology senior executive roles with leading insurance companies, including Mutual of Omaha, CUNA Mutual and Century of America. At ACORD, she was vice president, standards and membershi,p driving ACORD’s international expansion and market presence. While at Innovation Group, she was EVP, strategic marketing, and global head of market strategy; she re-established the company’s position through market-driven strategy and solutions. Most recently, she was partner and chief digital officer with Strategy Meets Action, leading the innovation practice evaluating emerging technologies, outside industry trends and innovation and their implications and opportunities for the industry.

Garth is a cum laude graduate with a BS in math and computer science from Central College in Iowa and MBA work at the University of Northern Iowa. She has attended various executive leadership programs.

Recent Articles by Denise Garth

5 Topics to Add to Your List for 2017

As an industry, we are knowledgeable. In fact, I think one could say that insurers may know more about the way the world works than most other industries. We hold the keys to risk management and the answers to statistical probability. We underpin people, businesses and economies world-wide. We have centuries of real-world experience and […]

6 Minutes of History From 2016

We knew that 2016 would be big. To capture the flavor of the pace and magnitude of change, I wrote a series of blogs where I likened the dramatic shifts in insurance technology to what happened during the original Italian Renaissance, when education, money, art and science combined to create quantum leaps forward and redefined […]

Insurtech’s Pay-As-You-Go Promise

Even though Metromile was groundbreaking with its pay-per-mile insurance, it certainly wasn’t the first to provide usage-based cover. In fact, the earliest documented paper insurance policy, a commercial policy, was a pay-per-use policy and was dated Feb. 13, 1343. It covered 10 bales of linen on their trip from Pisa to Sicily on the Santa […]

What Small Firms Want to Buy

American entrepreneurship is alive and well and growing! There are countless rags-to-riches stories of how people with a good idea, boundless energy and infectious optimism have made it big, or simply made a rewarding livelihood and legacy for themselves and their families. Today’s fintech and insurtech movements are testament to this in spades! And while […]

Thinking on Core Systems Is Backward

Insurance technology spending is high. In April 2015, Celent estimated that global insurance technology spending would top $181.6 billion by the end of 2016. This spending will include a combination of standard modernization, keeping legacy systems alive and well, supporting infrastructure projects and (increasingly) building digital and data frameworks. Many insurers remain focused on upgrading or […]

Are You Ready for the New Customer?

In our new consumer research report, The Rise of the New Insurance Customer: Shifting Views and Expectations, we captured the views and expectations of today’s consumers in the midst of the disruption and change rapidly unfolding in the insurance industry. Insurers, MGAs, reinsurers and others must embrace this shift by understanding changes at play and […]

6 Hot Areas of Focus for 2017

When you Google Jeopardy! and insurance, you get 855,000 hits, including a range of Jeopardy! games developed to help educate people about insurance. At Majesco’s recent customer conference, Convergence 2016, we developed a Jeopardy! session with insurance industry analysts Karlyn Carnahan of Celent, Martina Conlon of Novarica and Karen Furtado of Strategy Meets Action around the […]

Insurtech: One More Sign of Renaissance

Just before the Italian Renaissance, guilds were formed in Florence and throughout Italy to bring together people of like occupations under a social network. Their purpose was to agree upon standards and rules, represent the group to government, improve upon their art, science or trade and provide support services to families and widows when needed. […]

A Renaissance, or Just Upheaval?

When people think of the Renaissance, they most often consider shifts in art, architecture and a period of calm European advancement. In reality, the Renaissance was an upheaval. It was a rebuilding of an entire society, characterized by major new developments in social and cultural behaviors, science, art, trade and thought. This shouldn’t surprise us, because […]

Commercial Insurers and Super Delegates

No matter how hard I try, I have been unable to avoid being bombarded with news about the presidential race. While most of the opinions and assertions leave me wondering, the additional insights into the importance of super delegates fascinated me. It turns out that winning the traditional delegates was important, but having the super […]

6 Charts on Startups, Greenfields, Incubators

The Future Trends Framework The New Insurance Value Chain The greatest level of activity in insurtech is focused on the front end of the value chain, where new companies are leveraging expectations and capabilities to change traditional insurance distribution. They are focused on making it easier for customers to compare features and prices and get […]

Startups: How to Find the Right Partner

InsurTech is rapidly growing and evolving, with a wide array of new startups: from technology companies serving the industry, to new distribution and insurance companies meeting new customer and risk needs. To quote a recent Majesco white paper, “Greenfields, Startups and Incubators … Innovation in Insurance,” “The number of insurance-related startups varies widely across different sources: Venture […]

The Insurance Renaissance, Part 5

This is part 5 of a 5-part series. Part 1 can be found here. Part 2 can be found here. Part 3 can be found here. Part 4 can be found here. A Thirst for Reality Today’s Insurance Renaissance shares one very clear trait with the Renaissance of the 1400s — in both cultures we find […]

How to Unlock Group Insurance Market

A combination lock relies upon multiple numbers to match in order to release the catch. You can have three of the four numbers correct, and the lock will remain closed. Is this what is happening to the promise of group insurance sales? Are some insurers just one or two details away from unlocking the market? […]

Testing Requires Its Own Transformation

As new technologies like mobile are used and the need for agility and speed rises, so does the need for new testing techniques; otherwise, testing will hold implementations and organizations back. Just as today’s systems are modernizing, new testing methods and tools are rapidly advancing the quality and speed of development and implementation. To assess […]

Inventing Your Future: A 3 X 3 Approach

When you add it all up, the insurance industry has many characteristics that make it an attractive target for aggressive investments in innovation. First, it is enormous; it is estimated to be a global market of premiums written of more than $4.7 trillion. Second, it faces multiple challenges that offer opportunities for exploitation by nimble, […]

How to Turn ‘Inno-va-SHUN’ Into Innovation

No industry has been witness to as many changes in the business world as insurance. Paradoxically, the insurance industry has remained (relatively) the same operationally. However, it can no longer turn a blind eye to the change rapidly occurring around and within insurance. The need of the hour is not “inno-va-shun”— shying away from necessary […]

How to Plant in the Greenfields

If insurance were a map, we would be surveying a whole new world. The fences and boundaries of tradition have fallen. The snow-capped mountains of certainty are melting away. The rivers of market share are changing course, and streams of data are coming directly to our doors. We know there are still products to plant […]

The Insurance Renaissance, Part 4

This is part 4 of a 4-part series. Part 1 can be found here. Part 2 can be found here. Part 3 can be found here.  In 1494, Luca Pacioli, a Venetian friar and mathematician, published a textbook that described the use of double-entry bookkeeping. Drawing upon his knowledge of Venetian merchants, Pacioli showed how […]

The Insurance Renaissance, Part 3

This is Part 3 of a four-part series. Part 1 can be found here. Part 2 can be found here. What if Leonardo Da Vinci had been alive to witness the digital revolution? Perhaps he would have been a sought-after consultant and speaker (after his start-up had gone public and his paintings were selling for […]

Data Science: Methods Matter

When data analytics uses simple formulas, much conjecture and an arbitrary methodology, it often fails in what it was designed to do —give accurate answers to pressing questions. So, at Majesco, we pursue a proven data science methodology in an attempt to lower the risk of misapplying data and to improve predictive results. In Methods Matter, […]

The Insurance Renaissance, Part 2

A few weeks ago, in our opening blog series on the Insurance Renaissance, we discussed how the climate of change we saw in the Renaissance of the 1400s holds lessons for the current state of insurance. In both periods, we see the epicenters of change and innovation. For insurers, the Renaissance is more than an […]

The Insurance Renaissance (Part 1)

It was in 14th century Florence that an epic awakening happened. It was all-pervasive. It wasn’t just art that began to thrive. Philosophy, economics, culture and science began rapid change, too. Education, technology and literature were thrown into a cauldron of modernization, and world-shaking disruption and advancements spread rapidly. Fast-forward to today, and the comparison is […]

The 5 Charts on Insurance Disruption

The high-level forces (people, technology and market boundaries) are responsible for insurance’s driving influences — new expectations, innovations and new competition that individually exert tremendous transformation pressure on the industry. The forces don’t operate in isolation, however. They are connected and combine to create an even more powerful and disruptive impact on the industry. Majesco […]

Helping Data Scientists Through Storytelling

Good communication is always a two-way street. Insurers that employ data scientists or partner with data science consulting firms often look at those experts much like one-way suppliers. Data science supplies the analytics; the business consumes the analytics. But as data science grows within the organization, most insurers find the relationship is less about one-sided […]

Secret Sauce for New Business Models?

Insurance companies were built to bring stability to an unstable world. So, why do factors such as market instability, technological upheaval and consumer pressure seem to throw so many insurers into panic? In many cases, insurers can simply point to their rigid foundations. It didn’t take many California earthquakes to convince California builders that foundations […]

Leveraging the Power of Data Insights

The vast majority of insurance companies lack the infrastructure to mobilize around a true prescriptive analytics capability, and small- and medium-sized insurers are especially at risk, in terms of leveraging data insights into a competitive advantage. Small- and medium-sized insurers are constrained by the following key resource categories: Access and ability to manage experienced data scientists […]

Waves of Change in Digital Expectations

In the first of this three-part blog series, titled “Bringing Insurance Distribution Back Into Sync Part 1: What Happened to Insurance Distribution?”, we talked about the seismic shifts that have rocked traditional insurance distribution and about how insurance companies need to adopt a 2D strategy to thrive in this new environment. There are four fundamental […]

How to Bring Distribution Into Sync

We’ve been taking a look at how a confluence of forces are having an impact on insurance distribution and how insurance companies need to respond by following a 2D strategy. In my first two blogs, we detailed the four fundamental drivers of the changes. In my first blog post, “Bringing Insurance Distribution Back Into Sync […]

Meeting a Litmus Test for Disruption

The insurance industry has been talking a lot about disruption over the past couple of years. But, as with many things, insurance is a late arriver to the disruption party. Clayton Christensen helped kick off an earnest discussion of the topic back in 1997 with his first book, The Innovator’s Dilemma: When New Technologies Cause Great Firms to […]

What Happened to Insurance Distribution?

A bright market pundit could probably offer up her ideas on just which day it was that insurance distribution fell markedly out of sync with retail technology and consumer expectations. Was it the day Amazon was launched? Was it the day that the first app was purchased on the app store? Did it involve Google […]

New Insurance Models: The View From Asia

Recently, I chaired the 4th annual Asia Insurance CIO Technology summit in Jakarta, Indonesia. The experience brought me into contact with an entirely different set of insurers and insurance technology players. I was rewarded with a fresh view on the challenges and opportunities of insurance during an era of disruptive innovation, as well as a […]

Keep Your Eye on the Fourth P

If you ever took a marketing class, you probably remember the four “P’s” – product, price, promotion and place. While attention to all of these is vital to business success (including one or two new ones added over the years), the fourth P, place (which really is about distribution) has been getting a lot of […]

New Channels, New Data for Innovation

Distribution channels may be the most tangible part of most consumers’ experiences with insurance. While the details of the product are obviously important, once the policy is purchased, most people file it away and forget about it. Many consumers couldn’t find their policies if you asked them. And how many consumers do you think have […]

Why ‘Digital’ Is So Important

We all know that digital technology has changed, and continues to change, how people shop for, buy and use goods and services. Power has shifted from the company to the customer. All companies must adopt the digital technologies that create the interaction that consumers now demand and expect. But is digital readiness more of an […]

New Leaders in Race for the Killer App

Last week, we looked at how insurers have missed opportunities, multiple times, to become real innovators and follow through on developing the new killer apps. We took as our inspiration, the book, The New Killer Apps: How Large Companies Can Out-Innovate Start-ups, by Chunka Mui and Paul B. Carroll. This week, we’re looking forward. Is […]

What Is the Killer App for Insurance?

Remember the must-read book Unleashing the Killer App: Digital Strategies for Market Dominance, by Larry Downes and Chunka Mui? I was lucky to get a signed copy at a Diamond Technology Partners event and hear them speak about the killer app. It was in 1998, the start of the e-business revolution, with the emergence of […]

The Coming Renaissance

Insurance has been around for a long time … dating back to ancient times. The first written insurance policy was carved into a Babylonian obelisk; the “Hammurabi Code” offered basic insurance for individuals if a personal catastrophe made it impossible to pay back a debt. Insurance continued to grow and evolve across centuries and continents. […]

Succeeding in the Digital Revolution

History has seen different technology revolutions: the industrial revolution in the late 1700s, the information and telecommunications revolution in the mid 1900s and the digital revolution of the present. Each revolution has taken advantage of the new technologies of its day, creating disruption, innovation and business transformation. Businesses have either grown or died based on […]

Voice of the Customer: They’re Not Happy

Early in November 2014, immediately following the release of the SMA research report Crowdsourcing and Open Innovation: Powering the Sharing Economy, which explored the shared economy and its implications for insurance, I received an interesting email from the CEO of a shared shipping start-up. The CEO stated, “I just wanted to let you know that I […]

How to Enable the Next-Gen Insurer

Innovation continues to be a key topic within the industry, attracting greater attention in the last few years because companies like Google, Walmart, Apple and others have raised the bar with strong innovation cultures that are challenging existing companies and industries, including insurance, in a multitude of ways. Their commitment to create, nurture and inspire […]

2015: Pivotal Year for Emerging Technology

The Consumer Electronics Show (CES) has been the preeminent show for seeing, hearing and feeling what is emerging and hot in consumer electronics. It is the place to go to see new electronic games, mobile devices, TVs, home appliances and other electronics that will be coming to market to amaze and excite us. Remember Onewheel, […]

Cars: What’s Driving Disruption and Change

The SMA research report The Next-Gen Insurer: Fueled by Innovation identified the major influencers within and outside the industry that are reshaping the business of insurance. It cautioned that if insurers chose to ignore, or even put off, the inevitable need to change along with the rest of the world, they would be taking a chance and […]

Google and Insurance: One Year Later

In January 2014, SMA published the research report, Google and Insurance: Far-Reaching Implications, which hit a nerve in the industry. We followed up in August 2014 with the research report, The Shifting Competitive Landscape: A New Breed of Industry Challengers, which generated even more discussion. We noted in both reports that the future of insurance is changing […]

New Way to Insure the ‘Sharing Economy’

Disruptive influencers are surrounding the insurance industry. Speed and intensity are increasing, challenging industry practices, assumptions and business models. According to a Forbes article in January 2013, the revenue flowing through the shared economy directly into peoples’ wallets in 2013 would surpass $3.5 billion, with growth exceeding 25%. At this rate, peer-to-peer sharing was moving […]

Innovation in Insurance Begins to Refocus

With today’s fast pace of change, innovation is no longer a nice-to-have initiative, but rather a must-have, strategic mandate that is defining a new era for insurance – and separating future winners and losers. Today, it is not any one thing that is creating change, but the convergence of many things that are creating a […]

The Power of Crowdsourcing

From Ben Franklin (inventor of the lightning rod and bifocals) to Thomas Edison (the phonograph and popular form of the incandescent light bulb) to Tim Berners-Lee (the World Wide Web)/Internet, inventions have spawned new generations of ideas and disrupted, transformed and created businesses. That process continues. . . but at a much faster pace, with […]

9 Technologies That Will Change Insurance

“We’re at maybe 1% of what is possible. Despite the faster change, we’re still moving slow relative to the opportunities we have.” This compelling statement from Larry Page, CEO and co-founder of Google epitomizes the power and potential of emerging technologies. Yet most insurers have difficult comprehending how fast emerging technologies are being introduced. And […]

Made in China: Some Surprising Innovations

The dawn of a new industry and the Next-Gen Insurer is unfolding, influenced by levers of change from within and outside the industry, accelerated by an explosion of data and new technologies and fueled by innovation. Some insurers are embracing innovation to inspire a renaissance of competitiveness and customer value, reinvigorating what made them successful […]

Your Competitors Aren’t Who You Think

Historically, the insurance industry has assessed its competition by looking at those companies within the industry that directly compete and sell in the same market segments, offer similar products, use the same distribution channels or have similar market size. But in today’s fast-changing digital economy, this approach has become outdated, and insurers are being blindsided […]

How Internet of Things Puts Industry at Risk

To put the  impact of the Internet of Things (IoT) into context, consider industry estimates: By 2020, there will be 8 billion people on earth and 50 billion connected things, with 5 million apps; that means nearly six connected things per person. By 2035, there will be 1 trillion connected things, with 100 million apps. […]

The Need for Speed: It Just Keeps Intensifying

At the recent meeting of the Insurance Accounting & Systems Association, President Bill Clinton said in his keynote speech, “Share the future or fight over it.” As an industry, we have a history of collaborating, which has benefited all of us, but we need to raise the bar to succeed in this fast-changing world. Other […]

A Report From MIT on the Next Revolution

Inspired. Extraordinary. Insightful. Transformative. Innovative. These are the words describing what I heard, saw and experienced at the recent MIT Sloan CIO Symposium, titled “Lead Your Digital Enterprise Forward:  Are you Ready for the Next Digital Revolution?” The symposium had more than 700 business and IT leaders, from  a wide range of industries, converging to […]

How to Build an Innovation Ecosystem

Innovation ecosystem. Open innovation. The combination of these two empowers the sharing of knowledge, information and ideas that are accelerating innovation today, helping to reimagine industries and companies. Why is an ecosystem so powerful and so critical? Because of day-to-day operational demands, insurers often don’t put the influencers of change for insurance into context. An ecosystem can […]

Reimagining Insurance: More on AXA-Facebook

The reactions to the Strategy Meets Action blog “The Shot Heard Around the Industry: AXA and Facebook” have been enlightening. The blog has drawn polarized reactions … from some who envision the potential, and from others who only see today’s view of Facebook and insurance. The responses of this latter group explain a lot. They see the industry as risk-averse, steeped in […]

What the Next-Gen Insurer Will Look Like

Innovation is a crucial strategic mandate that is defining a new era of winners and losers. From retail to entertainment and everything in between, decades of business traditions and assumptions are toppling because of change – change that runs the gamut from customer behaviors and expectations to the use of new technologies. This level of change […]

Facebook-Axa: Reimagining Insurance

What a stunner and brilliant outside-in move by AXA – to position itself as a dominant digital insurance company by partnering with Facebook! You baseball fans will know the phrase, “the shot heard 'round the world,” which was said about the game-winning home run by a New York Giants player against the Brooklyn Dodgers in 1951 […]

Striking a Nerve: Google and Insurance

To say we struck a nerve in the industry with the Google and Insurance: Far Reaching Implications research is an understatement! It was picked up by all the major industry media – in some cases multiple times. It has set a record for downloaded and purchased SMA research, generating a torrent of follow-up calls and discussions. […]

Is M&A in Data and Analytics Setting a Path for Innovation?

The trend of acquisitions of software and data providers is continuing, but with a twist that may lay the foundation for innovation in the insurance industry.  CoreLogic closed out 2013 with a bang by announcing its acquisition of Eqecat, a catastrophe modeling firm, on Dec. 20, adding to an already impressive list of acquisitions in […]

2014: The Future Is Coming at You Faster Than You Think

Without a doubt, 2014 will be a pivotal year for the insurance industry – a new future is dawning, reshaped more quickly than expected by powerful influences such as customer expectations, forces from outside the industry, and technology. We will see the acceleration of these influences.  This pace of technology change, challenging decades of business […]

Google and Insurance

Google has really ratcheted up its innovation momentum over the past two to three years by broadening its digital, mobile, and data presence and, in doing so, has raised the potential impact on the insurance industry. Google continues to push forward, moving well beyond its platform for searches, marketing, and advertising and embedding its technology […]

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