Insurance-Canada.ca - Where Insurance & Technology Meet

When Demographics are Not Enough: A View of On-line Evolution

Population characteristics – age, gender, income, etc. –  play large roles in marketing generally and insurance marketing specifically.  With the proliferation of data coming from sources including social media and on-line services, leading experts are agreeing that these factors – referred to as demographics – may not be enough for optimal results.  A set of… Read more »

Claims Innovation, Social Business, and Competitive Advantage

As economic stresses, including the soft market, continue for insurance practitioners, leading organizations are looking for innovation in customer service to provide competitive advantages.  Claims offers unique prospects, according to one leading expert.  We feel this is supported by other trends and should be carefully examined. In a recent post in Insurance & Technology, Michael… Read more »

Legacy Systems Modernization – Celent Survey Provides A Dose of Cultured Reality

Just when we thought there was nothing but good things to say about legacy systems modernization, along comes a report by Celent’s Craig Weber based on a recent survey of industry participants.  It’s a needed dose of reality, we think.  Here’s some of the headline information from the preliminary results (thanks, Craig, for sharing them)…. Read more »

Mobile Apps Take the Lead

It seems that all those folks you see pushing buttons on mobile devices are doing more – much more – than texting friends or tweeting what they had for lunch.  And there are implications and opportunities for insurers and brokers. Flurry Analytics,  which provides accurate, real time data to developers about how consumers use their… Read more »

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Brokers and Social Media – Is the Breakthrough Coming?

The buzz with social media continues to grow louder in the business and trade press.  But a big question that remains is:  How will this impact Canadian insurance generally and insurance distribution specifically.  There is some evidence that while insurance brokers are not far along the adoption path,  a breakthrough may be in sight as… Read more »

Corporate Culture and Social Media

There is increasing evidence that use of social media has the capability to improve customer service, enhance marketing, and even streamline internal processes for insurers and agents/brokers.  So why isn’t the insurance industry beating a path to the new media?  Perhaps we have a culture clash. Karen Furtado, partner at Strategy Meets Action (SMA). Furtado… Read more »

Managing ‘Big Data’ Requires Hardware, Software, and Greyware

Recent articles in the trade and business press suggest that the latest buzzword in the Data Management community – Big Data – has big implications for insurance executives.  Hardware and software are required.  But the real key asset – grey matter – might be in short supply. Wikipedia defines Big Data as: “a term applied… Read more »

Social Business and Insurance – A Natural Fit?

IBM is marshaling significant resource to articulate a vision of ‘Social Business’.  While this is intended to span different industries,  the approach seems well-suited to address the many demands being made on the traditional insurance business model (and the tools and techniques associated with it).  We will break this out in a several posts over… Read more »

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Democratizing through Modern Technology: Solutions for the Large at Heart

A very wise mentor of mine once noted that insurance is a very egalitarian enterprise. There are few barriers to entry for any organization – small, start up, or whatever – that has a real vision of either an under-served market segment or a better processing method.  It now seems that vendors of technology are… Read more »

Keys to Competitiveness: Innovation and Data Anytime, Anywhere

As the soft market in virtually all parts of the industry continues, being competitive has gone from being a platitude that’s important to long-term growth to a principle that’s critical to day-to-day survival.  We recently saw two articles which gave clear direction to help IT understand its role in competitive positioning, and IT Management understand… Read more »