Insurance-Canada.ca - Where Insurance & Technology Meet

The Way You Do Business Has Changed – For Good

Technology is changing at a faster pace than ever before, and internet-only shops offering insurance policies as a click and buy commodity are popping up everywhere. So how do Insurance firms keep up? With Amazon-esque buying patterns, pop up internet insurance shops, and rapidly evolving technology, the requirement for audit trails, error and omissions protection,… Read more »

InsurTech, Dead? (Maybe It Just Smells Funny)

It was bound to happen.  A recent article strongly suggests that InsurTech is losing momentum and, as a result, the promised transformation of insurance may be stalled.  And the result?  The author says that, in spite of innovative technology, InsurTechs have “failed to capture the market”. What is one to do? Let’s get real …. Insurance… Read more »

Are InsurTechs and Insurance Execs Reaching Common Ground?

At the outset, the InsurTech movement has focused on disruption of the insurance industry and its organization.  However, InsurTechs may be finding that it is easier to join the insurance incumbents, not fight them.  Does this mean insurers are drinking the kool-aid, or that they are reaching into their innovative insurance core? All insurers are… Read more »

Automobile Insurance in the Autonomous Vehicle Age

We have written on the future of automobile insurance in the era of autonomous vehicles.  While some insurers are sitting on the fence, some auto manufacturers and leading underwriters are driving new approaches to mobility and insurance. We’d like your thoughts. What’s the risk? There is a lot of high-volume speculation on the impact of… Read more »

Dissecting Digital Dimensions: There is a Plan … Sort of …

Digital technologies are driving new opportunities for insurers, brokers, insurtechs, and just plain folk.  Digital offers streamlined workflows, processes, and intelligent assistants.  In some instances, digital alters the insurance product. I borrowed an excellent post from a large insurer which has developed a model of digital things to come to start the discussion about impacts.  And we… Read more »

Convergence and Champagne in Boston

InsurTech is the hot topic of the day.  And start-up organizations are demonstrating the value of InsurTech to disrupt antiquated processes and products.  However, this does not mean that we derail the existing corporate infrastructure and rely exclusively on new technology.  So what do we need?  Convergence might be in order. A week ago, I… Read more »

Who Wins the Risk Game: Humans or Machines?

Digital insurance and InsurTechs are keys to the ‘new’ approaches, which will support customer centricity and improve the insurance product and its distribution. But is this a revolutionary shift, driven by technology, or the next generation of insurance professionals driving improved processes and products? I’d like your thoughts. What’s new? For the last 30 months… Read more »

InsurTech Futures

InsurTech is a hot topic in the insurance community. Developers are bringing forward digital technologies, which improve existing functionality, increase customer experience, support new products, and reduce friction costs. The big question is whether InsurTech will continue to operate on the periphery of ‘standard’ insurance technology or integrate with insurers’ architecture. InsurTechs are taking positions……. 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 »

Notes On the Path to Insurance 2.0

In our last post, we noted the impact of derisking on the current insurance model. As technology lowers the probability of risks (with an attendant reduction of rates and premiums), we see insurance seeking new exposures and developing more engagement with consumers. This post turns to different elements in the new world. Going ‘Episodic’ Speaking… Read more »