Insurance-Canada.ca - Where Insurance & Technology Meet

IT Spending and Employment: A Change in the Calculus?

Is increasing IT putting downward pressure on employment? We recently commented on the rise in IT budgets in 2010 and the possibility that the ‘new’ money might be spent outside the IT departments with BPO, cloud technologies, and the like.  Joe McKendrick in Insurance Networking News looks at the same budget trend and wonders if… Read more »

Predictive Modeling Gaining Momentum with Insurers

There is increasing evidence that P&C insurers in the US and Canada are seeking, and finding benefits with the use of predictive analytics and modeling in underwriting, and claims. National Underwriter On-line reported that a recent Towers Watson survey found that 90% of US insurers surveyed indicated that the use of predictive analytics enhanced rate… Read more »

Canadian Brokers and Carriers: Technology Connects and Disconnects

Two leading analysts at the 2011 Insurance-Canada Technology Conference produced new, original research showing that Canadian Brokers and Carriers have important common interests with technology.  There are, however, significant disconnects, which may offer opportunities for selected partners. Kimberly Harris-Ferrante, Vice President and Distinguished Analyst for Gartner spoke on “Insurance Trends in Canada:  Hot Topics and… Read more »

2011 Insurance-Canada Technology Conference a Success; the Legacy is New Information

The 2011 Insurance-Canada Technology Conference was held Monday, February 28, 2011 at the Sheraton Centre in Downtown Toronto.  Over 400 delegates registered, creating a new record for the conference.  New studies were released by several analyts. The sponsors provided details on new products and services, and the speaker provided new information.  The insurance-Canada team is… Read more »

Insurance in ‘Jeopardy’? What does Watson think?

Jamie Bisker, who has spoken several times to Insurance-Canada conferences (most recently in 2010), is putting forward some compelling thoughts on how natural-language question and answer (QA) systems – such as the IBM Watson system – which recently successfully competed on Jeopardy – could ‘change the insurance landscape’. Bisker, who serves as the global segment… Read more »

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2011 Insurance-Canada Technology Conference – Almost Ready for the Reveal

With one week left to go, the Insurance-Canada.ca team feel they will be ready to ‘reveal’ the 9th annual insurance-technology conference to what appears to be a record number of attendees on February 28, 2011. The conference theme – Business Results Through Informed Action – is carried through out the programme by a high-caliber faculty,… Read more »

Will IT be Spending the New Insurance-IT Budget?

The brutal competition in the P&C market may be driving increased spending on technology.  But this could be a two-edged sword for in-house insurance technology professionals as BPO and cloud based services offer alternative strategies. As published in Propertycasualty360.com, a recent report by Celent, titled “IT Spending in Financial Services: A Global Perspective”, noted that… Read more »

Getting Started with Social Media: Be a good Listener

Social Media can be intimidating.  The language is unfamiliar, and the variations and options seem endless.  And  it seems there is a steep, and  time-consuming learning curve.  A recent article from Matt Marko, Marketing Process Manager for Progressive Insurance offers some clear (and time-saving) tips. For example, here’s  Matt ‘s suggested starting point for time… Read more »

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Cloud Computing – Real Opportunities, Real Risks, Real Insurance

There is little doubt that Cloud Computing presents real opportunities.  But there are also real risks, and real risk mitigation strategies, which can include insurance. As we’ve noted recently in this space, organizations of all sizes and shapes (including insurers),  are moving to cloud computing to reduce fixed costs, and allow greater flexibility.  And there… Read more »

Social Media and Claims Investigations

Claims professionals may have much to gain from using social media, but must take care with the tactics used. Two years ago, at an insurance association session on social media, the presenter asked if anyone was using social media for business.  A  half dozen people (out of 50 or so) raised their hands.  One was… Read more »