Insurance-Canada - Where Insurance & Technology Meet

Telematics: Service Providers Lead a Path that Insurers Could Follow

We have blogged in the past about some of the isolated examples of insurers using Telematics – use of technology to monitor vehicles – (e.g.,  see comments on Commercial Underwriting) as well as on-going debate by some insurers as to the utility of the approach.  A recent posting by Jamie Yoder, principal at PwC’s Diamond… Read more »

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Broker/Carrier Technology Relationships: Ships in the Night, or All Row Together

In a recent editorial in PropertyCasualty360, Ellen Carney, a senior analyst with Forrester, asked ‘In dealing with carriers, do agents feel like they are on their own when it comes to technology issues?’  This is a fundamental question, still relevant since it was first posed over 40 years ago. ACORD in the US has just… Read more »

Key Competitive Elements: Mixing Claims Service and Technology

In his role of senior executive for claim quality, customer and policyholder service, reserving, expenses and regulatory compliance,   Mike Lancashire’s leverages his background in claims and his commitment to technology to compete with much larger insurers. According to a recent article in Insurance & Technology, Lancashire, who is Senior Vice President of Claims and… Read more »

Standardize or Customize? SaaS May Influence the Decision.

There is a long standing debate in technology implementation. Should we shape the technology to fit the user or force the user to fit the technology?  The movement towards Software as a Service (SaaS) may force the decision. We all like freedom to do what we want with technology. This is what a lot of… Read more »

Age and Gender in Underwriting: The Politics of Neutrality

A recent ruling by the European Court of Justice suggests that insurers may be forced to take age and gender out of the underwriting process.  While seemingly taking  the high ground, similar initiatives have been eviscerated by the scalpel of politics.  And Canadian technology professionals were collateral damage in the last attempt at this in… Read more »

Key to Social Media for Insurers: The Customer Controls the Conversation

In her well received presentation at the 2011 Insurance-Canada Technology Conference, Technologies that Make a Difference, Christina Colby, Vice President, Global Business Intelligence Leader for Insurance, Capgemini, gave attendees common sense advice on how to take advantage of Social Media.  In a nutshell, the advice is:  Lose Control and Prosper. Colby noted that the daily… Read more »

IT Spending and Employment: A Change in the Calculus?

Is increasing IT putting downward pressure on employment? We recently commented on the rise in IT budgets in 2010 and the possibility that the ‘new’ money might be spent outside the IT departments with BPO, cloud technologies, and the like.  Joe McKendrick in Insurance Networking News looks at the same budget trend and wonders if… Read more »

Predictive Modeling Gaining Momentum with Insurers

There is increasing evidence that P&C insurers in the US and Canada are seeking, and finding benefits with the use of predictive analytics and modeling in underwriting, and claims. National Underwriter On-line reported that a recent Towers Watson survey found that 90% of US insurers surveyed indicated that the use of predictive analytics enhanced rate… Read more »

Canadian Brokers and Carriers: Technology Connects and Disconnects

Two leading analysts at the 2011 Insurance-Canada Technology Conference produced new, original research showing that Canadian Brokers and Carriers have important common interests with technology.  There are, however, significant disconnects, which may offer opportunities for selected partners. Kimberly Harris-Ferrante, Vice President and Distinguished Analyst for Gartner spoke on “Insurance Trends in Canada:  Hot Topics and… Read more »

2011 Insurance-Canada Technology Conference a Success; the Legacy is New Information

The 2011 Insurance-Canada Technology Conference was held Monday, February 28, 2011 at the Sheraton Centre in Downtown Toronto.  Over 400 delegates registered, creating a new record for the conference.  New studies were released by several analyts. The sponsors provided details on new products and services, and the speaker provided new information.  The insurance-Canada team is… Read more »