- Where Insurance & Technology Meet

‘Plug and Play’ Insurance Technology: Data Standards Connect the Dots

Editor’s Note:  Greg Maciag, CEO of ACORD came across several of our posts, including Lost in Translation, and Living in the Past.  He offered some comments we thought readers would find interesting .  Greg agreed to put these into a blog post for us. During the 1980’s, each piece of software was an independent entity…. Read more »

Insurance Use of Social Media in Canada presented results of two surveys on insurance practitioners’ use of social media in Canada during a webinar on Tuesday, August 23.  Results tracked with some information from elsewhere, but provided a few surprises as well. The open surveys were conducted earlier in the summer.  The first, focusing on how much different groups were using… Read more »

Claims 1.0 to 2.0: A Shift in the Marketplace, Mindset, and Requirements

Recent research on property and casualty claims by Strategy Meets Action paints an interesting picture of insurer plans for the next three years. The transformation that will take place over this time period will move insurers from what SMA calls Claims 1.0 to a more evolved state – Claims 2.0. This transformation will encompass a… Read more »

The Curse to an Independent Broker May Be The Cure

We have noticed a spate of surveys and commentary on the decline of the independent agent/broker system.   But people who know brokers suggests that the good ones are very  resilient and have a history of turning adversity to strength.  And, in these times, technology plays a critical role. We recently posted on research by the… Read more »

Illumination vs. Support: Analytic Understanding in Systems Replacement Projects

One of our favourite quotes comes from the Scottish poet,  Andrew Lang:  “An unsophisticated forecaster uses statistics as a drunken man uses lamp-posts – for support rather than for illumination.”  This seems to summarize a problem with current systems modernization and analytic initiatives. Numbers geeks (present company included) are attracted to titles such as the… Read more »

Social Media Insurance Strategies – A Tale of Two Insurers

As insures and agents/brokers think about how to use social media in business, there is an interesting compare and contrast of two approaches that is materializing in the real world.  This is articulated nicely in a recent post by Terry Golesworthy, President of The Customer Respect Group, in Insurance Networking News. On the one hand,… Read more »

Pay as You Drive Gains Traction; Insurers Offer Incentives

We have written about the benefits accruing to insurers who adopt Usage-Based Insurance (UBI) schemes, including competitive advantages of better underwriting data and marketing advantages derived from micro segmentation. But why should a driver use it?  A recent announcement in the US market offers instruction on how insurers want to increase the uptake of this… Read more »

Is Canada Living in the Past with Broker-Carrier Connectivity?

Earlier this year, we received an email from a broker who retired a few years back. He had just read one of the Canadian trade magazines which focused on recent efforts to establish industry standard interface between broker and carriers.  His comment was:  “Didn’t  we settle these issues 20 years ago?” To be clear, our… Read more »

Doing Social Business Right: Being Effective and Compliant

Recently LIMRA hosted a webinar which contained some valuable tips on how to be both effective and compliant while using social media for business.  At the heart of the presentation were two key points:  First, whether you know it or not, you ARE on social networks, so there’s nothing to be gained by waiting.  Second,… Read more »

On-line Marketing Options for Insurance

Ok, so you’ve decided to do some on-line marketing.  Why not run an ad on Goggle.  That’ll work, right? It likely will, but bear in mind, you’re about to join a very expensive club.  According Wordstrem,  a company which tracks advertising on Google (quoted in Wired),  If you are looking to use the word ‘insurance’… Read more »