New report shows 81% increase in regulatory compliance costs at a time when Canada grapples with dragging productivity — By Insurance Bureau of Canada (IBC) — Regulatory compliance costs across Canada’s property and casualty (P&C) insurance sector have surged by 81% since 2022, according to a new Regulatory Compliance Cost Survey by Insurance Bureau of Canada… Read more »
Extracting Benefits from the Commercial Auto Insurance Claims Value Chain
By Matteo Carbone, Founder & Director, IoT Insurance Observatory — Twelve years ago, a project with Octo Telematics changed my career. I would not be here doing what I’m doing without: that project that disrupted my 2013 summer holidays, and the engagement of my LinkedIn network with my telematics discussions over the following 36 months… Read more »
Canada’s cyber insurance market finds its footing
By Mahan Azimi, Director – Catastrophic and Emerging Risk Policy, IBC — Encouragingly, the Canadian cyber insurance market continues to stabilize, thanks in part to stronger underwriting practices, more predictable loss trends and a broader array of products. But the threat landscape is evolving at an unprecedented pace. Cyber criminals are increasingly using artificial intelligence… Read more »
Strengthening Business Continuity in the Evolving SaaS-on-SaaS Ecosystem
By Karun Arathil, Senior Analyst, Celent — In today’s fast-paced digital landscape, Software as a Service (SaaS) has emerged as a dominant business model, transforming how organisations access and utilise software solutions. This blog explores the significance of business continuity within a SaaS-on-SaaS ecosystem, highlighting the key features and benefits of the SaaS model, the… Read more »
Surfing Insurance Innovation With Zelros Studio
by Domitille Dien, Marketing Manager, Zelros — In a world where insurance faces numerous uncertainties from climate risks to inflation, flexibility and cost reduction have become essential for insurers. The Zelros Studio offers industry leaders real-time agility and control. Our no-code Studio enables marketing, business distribution, and technical teams to manage their projects directly, all… Read more »
Agencies’ 2025 strategic initiatives enhance efficiency and productivity
By Mark Breading & Heather Turner, ReSource Pro — What are the strategic priorities for agency leaders in 2025 and beyond? What are the drivers behind those big initiatives? And what hurdles are they striving to overcome? These and other questions were the subject of new ReSource Pro research focused on understanding the initiatives independent… Read more »
A.I. Could Break the Gartner Hype Cycle
By Stephen Applebaum and Alan Demers — As we live in an era of technological boom, it is increasingly difficult to separate hype from reality. With so many breakthroughs in medicine, space exploration and even autonomous driving, it is not advisable to bet against even the boldest of efforts. So, perhaps humans will indeed live… Read more »
Solar vs Hail: Pivoting Away From Danger
By Richard Carroll, Global Head of Energy, AXIS — The impact of extreme weather on solar photovoltaic (PV) assets is one of the main underwriting considerations for renewable energy insurers. Severe convective storms that are widespread and intense, and bring powerful winds and destructive hailstones, pose a particular challenge for the solar industry. While once… Read more »
Canada’s rising secondary peril losses: Mitigation beyond modeling
Now is the time for insurers to embrace tech-driven transformation to unlock efficiency, innovation, and long-term profitable growth — By Jolee Crosby, CEO Reinsurance Canada, Swiss Re — 2024 marked Canada’s costliest year on record. In the space of just a few weeks in July and August, four different events unfolded that saw insurers and… Read more »
Strategic Priorities 2025: A New Operating Business Foundation for the New Era of Insurance
Now is the time for insurers to embrace tech-driven transformation to unlock efficiency, innovation, and long-term profitable growth — By Denise Garth & Glenn Westlake, Majesco — Insurers have operated for decades under traditional models shaped by outdated assumptions around products, pricing, distribution channels, and customer engagement. However, shifts in customer expectations, competitive dynamics, risk… Read more »
Insurance Ecosystem: Navigating a New and Unfamiliar World
Partnerships, collaboration, and trust matter now more than ever — By Stephen Applebaum and Alan Demers — Even as so much has changed so quickly, including the entire insurance, automotive and mobility ecosystem, market leaders and their long-time trusted partners are better positioned than ever to weather the storm, adapt and succeed. These include auto… Read more »
A.I. in Claims: The 4x Trust Effect of Human Oversight
Highlights from Wisedocs’ AI in Claims Survey Report — By Amy Mingopoulos, Growth Marketing Specialist, Wisedocs — Wisedocs and ALM’s PropertyCasualty360 recently partnered to conduct a claims industry survey, uncovering a paradox at the heart of AI in claims: while there’s clear excitement around AI’s potential to streamline operations, trust in its autonomous decision-making remains… Read more »
Modernizing Claims Triage With AI
By Sanjay Malhotra, CEO, Brisc AI — Insurance claims departments handle a wide range of incoming claims every day – some simple, others complex. Managing these claims efficiently requires a way to quickly understand which ones need attention first. Claims triage is the process used to sort and prioritize claims. It helps insurers respond appropriately… Read more »
Navigating the AI rush without sidelining security
By Limor Kessem, X-Force Cyber Crisis Management Global Lead, IBM — The cyber landscape has changed dramatically with the rapid adoption of artificial intelligence. In the frenzied race to harness the potential of AI, organizations often find themselves up against the clock, eager to deploy AI without first assessing their foundational cybersecurity measures. This creates… Read more »
Why Most Businesses Are Not Yet Winning With A.I.
By Kim Basile, Michael Bradshaw & Maryjo Charbonnier, Kyndryl — Artificial intelligence is no longer on the horizon — it’s here, embedded across enterprise functions to improve operations and efficiency, enhance customer engagement, and drive business growth. In fact, in this new survey, some 95% of enterprise leaders told us they are already using AI across… Read more »
Protecting Our Tomorrow As Severe Weather Escalates
By Hanna Beydoun, Insurance Bureau of Canada — Severe weather is getting worse. And we are all paying the price. That’s why Canada’s home, auto and business insurers are leading the way, advocating for solutions and helping Canadians adapt. It’s all part of our plan to protect the things we love. Canada’s home, auto and… Read more »
Beyond One-Size-Fits-All: A Strategic Framework for Gen AI Productivity Tools in Insurance
By Joseph D’Souza, Founder & CEO, ProNavigator — With Gen AI dominating boardroom discussions, it’s easy to get lost in the noise. Many executives I speak with find themselves at a crossroads: Should they implement general-purpose solutions, such as Microsoft Copilot, ChatGPT, or Gemini, or opt for specialized Gen AI tools tailored for insurance, or… Read more »
Transforming Insurance: A Way Forward for Community Leaders
By Stephen Brandt, Chief Development Officer, InnSure Corporation — More and more, we are seeing communities being left behind with little help from insurance. The devastation from Hurricane Helene last fall, for example, resulted in insured losses of approximately $10 billion, a mere fraction of the storm’s total economic impact, which ranged from $30-50 billion… Read more »
Solving AI’s Power Problem with Nuclear Energy
Q&A with Bob Johnson, VP Analyst, Gartner — Global enterprises are facing rapidly increasing electricity consumption driven by AI and generative AI (GenAI), which threatens to disrupt energy availability and lead to data center power shortages. Gartner predicts that power shortages will restrict 40% of AI data centers by 2027. Small modular nuclear reactors (SMRs)… Read more »
The Right Way to Onboard a New Employee
By Joseph D’Souza, Founder & CEO, ProNavigator — Effective employee onboarding is crucial for setting the stage for new hires’ success. It helps them understand their role, acclimate to the company culture, and accelerates their productivity. A well-structured onboarding process can drastically improve job satisfaction and retention rates. On the flip side, a poor onboarding… Read more »
Trust of AI remains a critical challenge, reflecting tension between its benefits and risks
Global study on trust in Artificial Intelligence (AI) reveals more than half of people are unwilling to trust AI, reflecting an underlying tension between its obvious benefits and perceived risks The intelligent age has arrived: 66% of people use AI regularly, and 83% believe the use of AI will result in a wide range of… Read more »
The Silent Asset: How Companies Can Leverage Institutional Knowledge From Highly Experienced Staff
By Joseph D’Souza, Founder & CEO, ProNavigator — Most insurance organizations have highly experienced & tenured staff. In areas such as claims and underwriting, these people have developed an innate wisdom that drives their success. But that wisdom is often NOT documented anywhere – much of it is instinctual. This article focuses on how to… Read more »
Insuring electric vehicles: A growing opportunity with near-term challenges
by Xin Dai & Roman Lechner, Swiss Re Institute — Electric vehicle (EV) sales are forecast to grow 30% annually up to 2030, and the market for EV insurance is growing rapidly with it. Estimates place the global market size at over USD 200 billion by 2030, versus USD 51 billion in 2022. EV driving… Read more »
How Natural Disasters Impact Canadian Wallets
By Matthew Roberts, MyChoice — Climate change is responsible for a 379% increase in average annual insurable damages in Canada in the last decade. In light of the devastating impact of the Milton hurricane in Florida, which by some estimates will cause anywhere in between $60-100 billion in insured damages, many Canadians are left wondering… Read more »
Waymo reducing serious crashes and making streets safer for those most at risk: New Study
By Trent Victor, Director of Safety Research & Best Practices, Waymo — The path to Vision Zero requires reducing severe crashes and improving the safety of those most at risk. Our latest research paper shows that the Waymo Driver is making significant strides in both areas. By reducing the most dangerous crashes and providing better… Read more »
Innovation in P&C Insurance? Look no further than InsurTech MGAs
By Mark Breading, Senior Partner of Transformation Services, ReSource Pro — Okay, the title of this blog may be stretching the point – innovation is certainly occurring in all segments of the P&C industry. However, a strong case can be made that insurtech MGAs – startups from the last decade-plus – are catalysts for change… Read more »
Closing the gaps in Canada’s auto theft crisis
Stopping the export of stolen vehicles — By Hanna Beydoun, Insurance Bureau of Canada — Canada is in the midst of an auto theft crisis that is costing Canadians billions of dollars. Auto theft losses skyrocketed more than 254% between 2018 and 2023, surpassing $1.5 billion in direct claims costs for private passenger vehicles in… Read more »
Will AI really transform the insurance industry?
By Mark Breading, Senior Partner of Transformation Services, ReSource Pro — With the thousands of blogs, articles, and presentations on AI and P&C insurance saturating the market, you may be wondering, “What more can be brought to the table?” While this may seem like just another blog on the topic, our research at ReSource Pro… Read more »
A.I. Can Fix Everything In Insurance
By Stephen Applebaum and Alan Demers — Every time I read an article or a marketing piece espousing the astounding power of AI as applied to insurance, I cannot help but think about Gus Portokalos. As you may recall, Gus was the bride’s father in the 2002 hit movie My Big Fat Greek Wedding who… Read more »
Are insurers truly ready to scale gen AI?
New survey findings uncover gaps in preparedness, but a strategic focus on resources, responsibility, and returns could help insurers from POC to production — By Sandee Suhrada & Stephen Casaceli, Deloitte — It’s likely that no other technology offers as much transformative potential as generative artificial intelligence. This technology has the potential to change the… Read more »
Generative AI in the Insurance Industry
Savvy insurers will seize the gen AI opportunities that intrigue their customers — By Christian Bieck, IBM Institute for Business Value, et al — For the insurance industry, is generative AI more of a risk or an opportunity? Insurance CEOs are equally divided: 49% said it’s more of a risk, 51% said it’s more of… Read more »
It’s Time To Emphasize Climate Defence Over Offence: IBC
Governments and insurers must work together urgently to prepare communities and households for wildfires, floods, windstorms and hail while improving Canada’s response to and recovery from these increasingly frequent and severe disasters — By Craig Stewart, Vice President, Climate Change and Federal Issues, IBC — In the last decade, more than 880,000 Canadians and 87,000… Read more »
Rising Uncertainty: Risk & Opportunity For Insurance Resilience
By Stephen Applebaum and Alan Demers — Until recently, it was said that the only constant was change – now the only constant is uncertainty. Uncertainty is at a generational high in almost every aspect of our lives; socially, financially, politically, and technologically. One of the most serious consequences of this uncertainty is its impact… Read more »
AI and the Future of Actuarial Science
How cyber insurance is moving faster, scaling up, and preparing for unknown risks — By Austin Aten, Head of Cyber Pricing, Coalition Inc. — When cyber insurance was first introduced almost 30 years ago, the cyber threat landscape looked much different. We were far less reliant on digital technology and data, it was much more… Read more »
Trust, Personalization and Transparency: Foundational for Premium Accuracy
By Stephen Applebaum and Alan Demers — The insurance industry is at a crossroads. Brewing negative consumer sentiment toward insurance affordability and premium fairness is spilling over as profitability struggles threaten markets. As the industry takes needed action, the approach itself comes into question. Insurers find it difficult to inform and educate a customer base… Read more »
Drowning in Duplicated Docs: Which Version Is the Correct One?
By Joseph D’Souza, Founder & CEO, ProNavigator — I have a 10-year-old son who likes to take pictures when he gets access to a phone. It’s cute to watch him taking pictures. It’s not so cute when he holds the shutter button down and I find 50 little near-identical images of his thumb. Okay, well,… Read more »
P&C Insurance: Mind The Gap(s)
By Stephen Applebaum and Alan Demers — The expression “Mind the gap” dates to the 1960s when it was first announced on the London Underground. The purpose was to warn passengers of the potentially dangerous gap between the train door and platform which are not perfectly aligned. It has since evolved to become a general… Read more »
Knowledge on Mute: How WFH Makes Your Company Forget What It Knows
By Joseph D’Souza, Founder & CEO, ProNavigator — 2020 was a remarkable and noteworthy year in history, especially for businesses and their employees. Many businesses found out that they can remain at near peak productivity with their employees working from home (WFH), while many others found out that they cannot. It also added wrinkles to… Read more »
Combatting Canada’s Auto Theft Crisis: Tackling ReVINing
By Hanna Beydoun, Policy Manager, IBC — In Canada, a vehicle is stolen every five minutes. This national crisis is disrupting the lives of Canadians and causing significant distress and financial strain. From 2018 to 2023, auto theft losses surged over 254%, surpassing $1.5 billion in direct claims costs for private passenger vehicles. Ontario has… Read more »
There Is Just Too Much Insurance Knowledge Out There
By Joseph D’Souza, Founder & CEO, ProNavigator — At the end of the 20th century, as web technologies began to go mainstream, the term “information superhighway” was coined to describe how the piping infrastructure of the internet would allow information to travel frictionless from portals to users and back to portals. As internet adoption exploded,… Read more »
Six Hard Truths CEOs Must Face In The GenAI Era
Whether generative AI is your wildest dream or your worst nightmare depends on how your organization reacts today and prepares for tomorrow — By Christian Bieck, IBM Institute for Business Value, et al — Generative AI has the potential to shake up the way your business has always worked, driving unprecedented productivity and revealing new… Read more »
Navigating Technology Transformation In Insurance
Mark Breading, Senior Partner of Transformation Services at ReSource Pro, discusses the evolving landscape of the P&C insurance industry in a Coffee Talk session with ACN’s Brian Langerman — Mark outlined six major trends in the P&C insurance industry, and addressed topics like the impact of AI on agents, the evolving mobility space, and cyber… Read more »
Broken Trust – Insurance Industry Included
By Stephen Applebaum and Alan Demers — It is a well-known adage that ‘trust takes years to build, seconds to break, and forever to repair.’ The extensive and growing loss of trust in our most treasured institutions is responsible for the recent and rapid transformation of behavior and attitudes across the entire landscape. Trust is… Read more »
Waymo is safer than even the most advanced human-driven vehicles, new Swiss Re study reveals
By Trent Victor, Director of Safety Research & Best Practices, Waymo — We are pleased to share new cutting-edge research with Swiss Re, one of the world’s leading reinsurers, analyzing liability claims related to collisions from 25.3 million fully autonomous miles driven by Waymo. The study uses auto liability claims aggregate statistics as a proxy… Read more »
Unprofitable Insurance: Tail Effect Hits Auto Lines
By Stephen Applebaum and Alan Demers — Since 2020, the world has seen more change, disruption and surprises than any period in recent memory – and the U.S. personal auto and property insurance market is no exception. Declining auto claims and associated consequences are now in focus. The P&C industry has endured catastrophes, runaway inflation,… Read more »
Unlocking the Best Path: Three Approaches to Effective Customer Communications Management
By Gautam Jit Kanwar, President, BelWo Inc. — As insurers continue their digital transformation, many face the challenge of how to handle the complexity of producing and delivering communications through a policyholder’s channel of choice. To stay competitive, insurers must effectively manage customer touchpoints—whether it be print or email or SMS text on a mobile… Read more »
Generative AI in the insurance industry
Savvy insurers will seize the gen AI opportunities that intrigue their customers — By Christian Bieck, IBM Institute for Business Value, et al — For the insurance industry, is generative AI more of a risk or an opportunity? Insurance CEOs are equally divided: 49% say it’s more of a risk, 51% say it’s more of… Read more »
Embedded Insurance: Major Disruptor Can Bridge the Huge Coverage Gap
By Stephen Applebaum and Alan Demers — Embedded insurance promises to disrupt insurance distribution as well as product. Moreover, it will help close the “protection gap” – which is roughly 50% of all economic losses not covered by insurance. Accenture defines embedded insurance as “any insurance that can be purchased within the commercial transaction of… Read more »
Wow Your Customers with On-demand Omnichannel Communications
by Ernie Crawford, President & CEO, Crawford Technologies — With the rise of real-time data, the relationship between insurers and their policyholders has fundamentally changed. Today’s consumers expect immediate access to information, services and support. For both P&C and life & health insurance companies, this means rethinking their communication strategies, moving from traditional print and… Read more »
Reimagining human potential in the generative AI era
Revolutionizing work to boost business value — By Cathy Fillare, IBM Institute for Business Value, et al — Business leaders must be careful not to focus solely on how generative AI can simplify and automate today’s processes – many of them are routine and mundane. While such measures may increase productivity, executives also have a… Read more »
