Insurance-Canada.ca - Where Insurance & Technology Meet

Digital Insurance: What, Why, and How

‘Digital insurance’ is a hot topic within the P&C community. At a high level, consultants and practitioners can rapidly agree on the importance of ‘digitalization’. However, when we start developing and implementing a business case, definitions of the strategies and tasks get a bit murky. Two recent articles help focus on critical criteria. Why do Digital… Read more »

Too Much Going On? Too Expensive? This Could Be the New Normal

When we ask our IT colleagues how they are, the most frequent response is “Too Busy.” When we ask our Finance colleagues how things are going, a common reply is that “IT projects are costing a lot.” These aren’t necessarily new revelations, but we’re wondering if these symptoms indicate bigger changes coming. We’re going to… Read more »

Are You Satisfied with IT? Does IT Know?

Are you satisfied with IT in your organization?  Has anyone asked you lately?  These are becoming important questions as IT finds itself serving an increasingly diverse and sophisticated group of users who recognize options beyond in-house IT services. As a user, or as an IT professional, or both, we’d like to get your thoughts:  Is… 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 »

The Future of Insurance: If Not Technology, Then What?

Is the insurance industry really immune from the impact of technology?  Or will the collaborative nature of Web 2.0 and Social Media force a new reality on the community? Ara Trembly, has been preaching the importance of technology to the insurance community for years.  However, in a recent post, reviewing a report from Deloitte, even… Read more »

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 »

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 »

Math lesson: Is there ROI for Core Systems Replacement?

A sharp IT professional recently argued with his colleagues that there is no cost-based return on investment argument that favours replacement for core insurance administration systems.  His contention was that there are lots of good reasons, but none that are cheaper than maintaining the old beast. This sounded just contrarian enough that it might be… Read more »

Results At the Core of the 2011 Insurance-Canada.ca Technology Conference (ICTC)

At the 2010 Insurance-Canada.ca Technology Conference, Jim McGregor, CEO, The Precept Group, and long-time supporter of technology to improve the insurance business, made a controversial statement.  To paraphrase, Jim said that when he first got involved in broker-carrier interface in the late 1980s, the expense ratio for broker supporting insurers was 35% – ‘unacceptably’ higher… Read more »

Strategy and Measurement are Keys to Navigating the New Insurance Normal

Opening the ACORD Implementation Forum in Fort Lauderdale this week, a panel of senior insurance technology executives, moderated by Celent’s Donald Light, reviewed the ‘New Normal’ for insurance organizations and agreed that the future needs to be navigated carefully, guided by increasingly precise measurement of actions and impacts. Light, in his opening comments, said that… Read more »