Insurance-Canada.ca - Where Insurance & Technology Meet

“The Envelope, Please”: The Importance of Awards in the Digital World

For the last nine years, Insurance-Canada.ca, supported by excellent practitioners and suppliers, has delivered awards for the use of technology in the insurance industry. This provides a disciplined process to celebrate technology-driven success and to engage all members of our industry in best-of-breed tools and techniques. InsurTech anyone? Why celebrate? Insurance-Canada’s primary purpose is to… Read more »

Artificial Intelligence: Modernity with a Nod to Antiquity

Artificial intelligence (AI) comes with new opportunities to improve underwriting, marketing, new products, claims, and distribution. However, there are known unknowns, and a history of challenges that have little relationship to the technologies. Given the volatility of new tools, evaluating and managing AI is a dynamic task. When the world gives you lemons…. Some start-ups… Read more »

Be there for your policyholders when they need you most

As auto insurance premiums converge due to increased competition, policyholders are beginning to place more importance on both peace-of-mind and engagement when evaluating their relationship with insurers. While price is still the critical factor impacting policyholder acquisition, how insurers engage with their policyholders and create peace-of-mind drives retention. Directly following a crash is the point… Read more »

Disruption to the Core

Since 2015, there has been an avalanche of new InsurTech applications that are designed to disrupt existing process and products. Initially, insurers were overwhelmed with opportunities. This is changing rapidly. Suppliers are bringing forward technologies that will require a clear alignment with insurers and an understanding about new linkages to risk data. Yesterday’s Core System… Read more »

Can We Take Pride in Insurance Technology?

For the longest time after I started working in the insurance industry, I accepted the common wisdom that insurance technology was a laggard in comparison to other sectors. Whether that was ever true, InsurTech is definitely at play now, driving innovation. So, can we stop apologizing for being so far behind?  Let’s explore a few… Read more »

Nudge Theory and Insurtech – Happy Bedfellows?

Richard Thaler’s Nobel Prize-winning “Nudge Theory” is finding its way into tech and, specifically, insurtech.  Will this be a happy relationship, or cause for putting up fences? Coming together… Thaler contends that (1) positive reinforcement and (2) indirect suggestion can affect the way humans think and behave, and therefore the outcomes of that behaviour.  On… Read more »

Risk, Technology, Engagement: The Wholly Trinity On Display

The business of insurance is changing dramatically.  We have identified three interconnected pressure points – Risk, Technology, and Engagement – that now define critical factors in the new era of insurance. These factors will inform the content of our upcoming Insurance-Canada.ca Technology Conference (ICTC2018).  The following describes the trinity aspects and interleved with  samples of… Read more »

Technology Addiction: A Fatal Distraction

You are more likely to be reading this on a mobile device than on a laptop or desktop. A June 2017 Pew survey revealed that 77% of Americans own a smartphone and 85% of U.S. adults get their news on a mobile device at least some of the time. And therein lies the source of… Read more »

2018: An Insurance Functional Divide?

2018 will be an interesting year. As InsurTech matures, there are increased pressures to join the digital transformation movement. First movers are setting the course for this, but not all will be in a position to adapt quickly. Will this result in fundamentally different types of insurance providers? The starting point may be earlier than you… Read more »

Wishing You A Merry Disruption

It’s that time of the year where we reflect on a year that skated by at the speed of light.  We want to share our thoughts on 2017.  And what we really think about you (it’s pretty good). 2017 Insurance-Canada Technology Conference and Broker Forum Four hundred and fifty professionals attended ICTC&BF2017 in February.  (As an… Read more »