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 »

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 »

Smart Canadian Insurers, Smart Homes, and Insurance 2.0

Canadian insurers’ interest in smart home technology is rising. At one level, this is providing new, cool insurance programs. At a higher level, this is a prototype of Insurance 2.0. Home, Dry Home … According to CB insights, Intact Insurance in April “became the latest insurer to invest in a smart home startup – water… Read more »

Operationalized Customer Experience: On the Horizon?

The last two decades have not been kind to insurers. Sources of pain range from a continuing soft market and falling interest rates to regulations and judicial rulings that increase costs or limit revenues. Insurance marketers have sought strategies that could increase competitive advantage and improve profitability. One such strategy is ‘Customer Experience.’ Will this… Read more »

Marketing Disruption – The Future of the Insurance Promise

Disruption is challenging the construct of the insurance product, which leads to a crucial question: How do we convince consumers that existing insurance organizations are still needed? A new commercial is starting down this road. And reviewing some alternative ads might be in order. We’d like your thoughts. The End of Automobile Insurance Back in… Read more »

Digital Value Drivers

In my role on the Digital Market Insight team at Guidewire, I spend a lot of time talking to our customers and other insurers all over the world about their digital strategies. It is clear that every insurer is investing in “going digital”. But what is really driving this investment? We ask this because our… Read more »

Just in Time, Lean Insurance: Why and How

There is no doubt: we are living in volatile times that are impacting products, services, and processes. Technology is breaking down barriers and re-defining business models. Many sectors are adopting and embracing change. However, leading analysts believes that insurance has been an outlier. But there are opportunities to change that. What are the changes and… Read more »

Will Emerging Technologies and Innovation Transform the Insurance Customer Experience?

The world is abuzz with the potential of a new wave of emerging technologies aimed at transforming business, society, and our daily lives. Every day, there are new developments in wearables, drones, autonomous vehicles, the Internet of Things, virtual reality, and a host of others. And the pace is accelerating.  Our world will look different… Read more »

Threats and Opportunities in a Totally Connected World

How does insurance work in a totally connected world? Would the available data and expanded mitigation opportunities decrease risk, potentially lowering premiums? Or would we see new risk opportunities with increased value and exposures associated with connectivity (cyber risk, critical failures)? Stick around, the next decade will be informative. And you can get a preview… Read more »