Insurance-Canada - Where Insurance & Technology Meet

Insurance in ‘Jeopardy’? What does Watson think?

Jamie Bisker, who has spoken several times to Insurance-Canada conferences (most recently in 2010), is putting forward some compelling thoughts on how natural-language question and answer (QA) systems – such as the IBM Watson system – which recently successfully competed on Jeopardy – could ‘change the insurance landscape’. Bisker, who serves as the global segment… Read more »

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2011 Insurance-Canada Technology Conference – Almost Ready for the Reveal

With one week left to go, the Insurance-Canada.ca team feel they will be ready to ‘reveal’ the 9th annual insurance-technology conference to what appears to be a record number of attendees on February 28, 2011. The conference theme – Business Results Through Informed Action – is carried through out the programme by a high-caliber faculty,… Read more »

Will IT be Spending the New Insurance-IT Budget?

The brutal competition in the P&C market may be driving increased spending on technology.  But this could be a two-edged sword for in-house insurance technology professionals as BPO and cloud based services offer alternative strategies. As published in Propertycasualty360.com, a recent report by Celent, titled “IT Spending in Financial Services: A Global Perspective”, noted that… Read more »

Getting Started with Social Media: Be a good Listener

Social Media can be intimidating.  The language is unfamiliar, and the variations and options seem endless.  And  it seems there is a steep, and  time-consuming learning curve.  A recent article from Matt Marko, Marketing Process Manager for Progressive Insurance offers some clear (and time-saving) tips. For example, here’s  Matt ‘s suggested starting point for time… Read more »

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Cloud Computing – Real Opportunities, Real Risks, Real Insurance

There is little doubt that Cloud Computing presents real opportunities.  But there are also real risks, and real risk mitigation strategies, which can include insurance. As we’ve noted recently in this space, organizations of all sizes and shapes (including insurers),  are moving to cloud computing to reduce fixed costs, and allow greater flexibility.  And there… Read more »

Social Media and Claims Investigations

Claims professionals may have much to gain from using social media, but must take care with the tactics used. Two years ago, at an insurance association session on social media, the presenter asked if anyone was using social media for business.  A  half dozen people (out of 50 or so) raised their hands.  One was… Read more »

Insurer-Broker Technology Collaboration Beyond Transactions – New Canadian Research Study

Brokers and insurers collaborate in varying degrees to acquire, serve, and retain Canadian property & casualty customers. While the industry continues to improve broker-insurer transaction efficiencies, a potential new area of collaboration is the sharing of information and insights gained through customer analytics. Based on a new SMA research study in Canada, “Analytics to Enhance… Read more »

Social Media: Marriage of Marketing and Customer Service

There is a lot of talk about the power of social media in selling insurance.  But, as was the case with the emergence of the Internet in the mid 1990s, the real power (for good or ill) may be in marketing through customer service. The holy grail of marketing is getting the customer to recommend… Read more »

Win-Win: Commercial Fleet Underwiting with Telematics

We blogged recently on competitive uses of predictive analytics,and noted that ‘Telematics,’ the use of location technology to automatically track automobile usage, was gaining some favour for some auto underwriting.  There is now evidence that this will extend beyond obvious uses in personal lines to more sophisticated applications in commercial  fleet insurance. The neat spin… Read more »

BI/Analytics: More Complex, More Mobile, More Important

For the  folks who have been able to dismiss the significance of business intelligence/predictive analytics, and relegate its use to actuaries and computer geeks,  there is growing evidence that this is a bad idea which is only going to get worse. Bob Evans Editorial Director, InformationWeek puts out an annual ‘Top 10’ list for CIOs. … Read more »