Insurance-Canada.ca - Where Insurance & Technology Meet

Happy 2011: Year of the New Insurance Customer?

Developments in social media, cloud computing, and new technology are challenging IT professionals, but progress is being made, and the challenges are turning into opportunities. We sometimes fail to appreciate that customers – insurance customers – are going through the same challenges and are seeing similar opportunities in selecting companies and products which meet their… Read more »

Holiday Wishes

The Editors and Publisher of The Intersection thank you for your support during our introduction and wish you the very best for the holidays and for the new year. We will be back in full voice early in 2011.

Mid-Market Commercial Lines – Transforming Data to Knowledge to Action

Mid-market commercial lines has always been a holy grail for insurance automation – alluring, but out of reach.  New developments suggest we might be extending our reach. The core problem has been the volume and type of data that is required to be gathered, synthesized and intelligently acted upon has defied easy solutions.  Collecting and… Read more »

Canadian Clouds: Location, Location, Location

IT World Canada reports that Canada may have significant legal and geographic advantages as a location for cloud based computing services. Michael Geist, law professor at the University of Ottawa, is quoted in the article as saying:  “Location matters and where the cloud exists matters an awful lot when it comes to issues around privacy… Read more »

Consumers Interested in Social Media Connections with Financial Institutions, but Lack Awareness

The results of a recent survey by Fiserv of 3,000 US consumers indicate that the population has wide spread interest in using social media to connect to Financial Institutions, but lacks awareness of the ability to connect to these institutions. Some of the key finding are: Younger customers are more likely to use Social Media,… Read more »

Results At the Core of the 2011 Insurance-Canada.ca Technology Conference (ICTC)

At the 2010 Insurance-Canada.ca Technology Conference, Jim McGregor, CEO, The Precept Group, and long-time supporter of technology to improve the insurance business, made a controversial statement.  To paraphrase, Jim said that when he first got involved in broker-carrier interface in the late 1980s, the expense ratio for broker supporting insurers was 35% – ‘unacceptably’ higher… Read more »

Welcome to The Interesection: An Insurance-Canada.ca Blog

Welcome to The Intersection, an Insurance-Canada.ca Blog. Since 1995, Insurance-Canada.ca has been devoted to providing technology/insurance content through its web site, seminars, conference, and newsletters.  The website has become a meeting  point for insurance and technology professionals and consumers.  The Intersection is intended to extend the distribution and expand the content, Hence the sub-title:  Where… Read more »

Employees’ Home Technology Trumping Work Tools?

We recently commented on research indicating that an increasing number of organizations are accommodating employees bringing personal technology to work.  More evidence is surfacing that there is general employee dissatisfaction in Canada with current tools as compared with those available personally.  Further, within the insurance industry in the US, it seems that there is pressure… Read more »

Major Challenges to BI – Redux

A few days ago, we posted on a Novarica report which provided insight on major challenges to Business Intelligence.  The largest inhibitors for insurers seemed to be systems/data related (core systems inflexibility, poor data quality,  lack of standards for data).  Now a major study by the IBM Institute for Business Value in collaboration with MIT… Read more »

Being ‘Social’ Just Isn’t Enough

  There are lots of success stories around social media these days.  It is important to remember that just being ‘social’ doesn’t guarantee success. IT World Canada recently did a look back on 7 Social Technologies that died in 2010.  All come from well known technology companies. In case you don’t recognize the logo here,… Read more »

Major Challenges of Business Intelligence

According to a recent Novarica study – Business Intelligence in Insurance: Current State, Challenges, and Expectations – some of the major challenges facing insurers in implementing Business Intelligence solutions come from data access and data quality. Solving this requires addressing questions such as: How do I consolidate duplicate information and ensure accuracy? How do I… Read more »

But It Followed Me to Work

A hot topic among IT and HR managers is the trend for workers to bring their own personal technology to work, and expect to incorporate it seamlessly into their tool kit. Although the jury is very much out, it seems that a number of organizations are accepting this trend as inevitable, and looking to make… Read more »

CIOs: Death in the Clouds?

Predictions are that Cloud Computing might be the roadmap to the future, but a recent posting on the Celent blog suggests that it might be a dead end street for some professions. Many of us have heard rumours of the demise of the technical CIO in insurance organizations for years. The argument goes that given… Read more »

The Social Media ‘Branch’

When discussing resources required to support social media, a colleague of mine came up with a neat concept. She said that the social media initiative of an insurer or broker should be thought of as the organization’s next ‘branch’. The amount of resources assigned should relate to the type of functions performed in the ‘branch’… Read more »

Are You Having Too Much Success Exhibiting @ Trade Shows?

If you seem to be having too much success when you exhibit at trade shows (getting too many leads, having too many people come directly to your booth, etc.), you should read: 11 ways to ensure you have a results-free trade show at the InfoExecutive Web Site. It is a whimsical list of suggestions to… Read more »

Strategy and Measurement are Keys to Navigating the New Insurance Normal

Opening the ACORD Implementation Forum in Fort Lauderdale this week, a panel of senior insurance technology executives, moderated by Celent’s Donald Light, reviewed the ‘New Normal’ for insurance organizations and agreed that the future needs to be navigated carefully, guided by increasingly precise measurement of actions and impacts. Light, in his opening comments, said that… Read more »

Modern Technology and the Apple

Most everyone has heard about the great success of the iPad with consumers. Lesser known is the penetration within the business community. And insurance is no exception. Geico has taken to expanding a popular customer application, Glovebox, to a variety of devices, including the iPad. Watch this to be the norm for any insurance applications…. Read more »

Social Media and Market Share: Linked or What?

Two pieces of data crossed our desk this week. The first came from Insurance Network News which quoted a recent study indicating that a recent report from NetProspex on Social Media Use by Business found that the insurance industry ranked 43rd out of 50. (Banks ranked 3rd.) The second piece of information came in conversation… Read more »