Insurance-Canada.ca - Where Insurance & Technology Meet

The Internet of Things Morphs to the Infrastructure of Innovation

April 2017 may well go down as the pivot point when the Internet of Things (IoT) went from theory to reality. Some insurers (and InsurTech startups) are building models and working prototypes, but there are some serious gaps including resource allocation and governance. Where are you on the IoT journey? We have a map to… Read more »

Blockchain Moving to Mainstream, With Help from the Cooks

Blockchain is getting more traction in the business press, but implementation still seems to have remained in the IT domain. However, applications relying on Blockchain technology are emerging in the insurance domain. In addition, third parties are providing entry points for insurance professionals to understand and drive Blockchain applications. Are you part of these developments? Blockchain… Read more »

Claims 2017 – Distinctly Driving Digital

In the May 28 blog post, I suggested that claims and risk management are taking a prominent place in digital transformations. Today, I will review recent articles that describe potential impacts and possible time frames. I will also note sessions at our 2017 Insurance-Canada Executive Forum, which will provide unique claims thought leadership. Telematics is not… Read more »

Is Insurance the Future of InsurTech?

InsurTech is the hot topic this year, and for good reason. In the effort to improve consumer engagement, InsurTech’s new technology-driven construct is showing value. But can we envision base insurance principles being stretched in service of modernity? Customer Experience – Oxymoron or What? Having worked in the industry for a while, I can say… Read more »

Home Insurance: Engagement Rising Through Collaboration

When I started working in the insurance industry, a very wise (if somewhat cynical) colleague gave me his analysis of the product: “Insurance is dead simple, but trained professionals have spent 300 years making it impossible to understand.” This could be a theme which explains – and which caused – a current disruption trend. What’s… Read more »

Cyber Risk: The Mother of Innovation

“Jazz is not dead. It just smells funny.” – Frank Zappa For the last two decades, insurers have introduced products, which are intended to respond to cyber risk. However, the offerings seem to lag behind the technology risks. As we enter the new era of the Internet of Things, the risks will expand exponentially, but… Read more »

IoT as a Virtual Risk Manager

The Internet of Things (IoT) has gone beyond a passive monitor of activities to become an intelligent nervous system for the world of devices and people. As a result IoT could be the largest opportunity for improving the business of insurance. Last year, Aviva Canada introduced the “Home Protect Bundle” which included coverage that provided… Read more »

Could Claims Challenge Existing InsurTech Priorities?

While the majority of InsurTech activity leans towards marketing, underwriting, sales, and product service, there is growing interest in streamlining and improving claims reporting and adjusting. Could this mean that Claims disruption is on the horizon? Customer as examiner… Earlier this month, RDN – Repairer Driven News reported that Allstate will cease using the company’s drive-inspection stations… Read more »

23 Hours of InsurTech

Last week, we had a 23-hour opportunity to take stock in our readiness for the digital incarnation of insurance. As that time passed, we found some answers — and many more interesting questions. So we’re planning to do it again with a larger team of experts. Setting the pace and the place setting … Matteo Carbone, Founder and… Read more »

Borders and the Flow of Intelligence

Just after the last US presidential election, I posted a blog on the possible impact of US immigration policies on the tech industry in Toronto. Six months on, we’re finding that Toronto and Canada may be getting some advantage. I’d like your thoughts. Is this down to just one man? The Vector Institute – an “independent, non-profit research… Read more »