"Chronicle" weekly newsletter - Where insurance and technology meet

FEBRUARY 6, 2018

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Generational Shift To Digital Insurance 2.0
Majesco's new research report, Insights for Growth Strategies: The New SMB Insurance Customer, assesses the new products and business models introduced to the market by InsurTech or innovative insurers. Read more.

Aviva, OneEleven Launch InsurTech Program
OneEleven and Aviva Canada are joining forces to support the success of Canadian InsurTech companies with the high-impact resources and networks they need to scale and grow their innovative ventures. Read more.

New Cyber Risk Management Solution
Cisco, Apple, Aon and Allianz have announced a cyber risk management solution for businesses, comprised of Aon resilience evaluation services, the most secure technology from Cisco and Apple, and enhanced coverage options from Allianz. Read more.

SMA Predictions 2018: Shifts, Pivots and Turns
Insurers are building upon core modernization investments and embracing innovation as the cornerstone for change and transformation. So what's next for the industry? Read more.

allai To Launch Insurance AI App Store
allai, a Montreal-based InsurTech startup, is preparing to launch Canada's first insurance AI app store for brokers and carriers. Read more.

Incumbents Fueled InsurTech Investment In Q4
Incumbents are exerting an increasing level of influence on the start-up community as part of an emerging trend described as “the Sobering of InsurTech,” according to the Fourth Quarterly InsurTech Briefing from Willis Towers Watson. Read more.

Digital Transformation Challenges Businesses
Businesses continue to transform through technology, but many are challenged to fully realize their digital vision, according to the EY Digital Deal Economy, an international survey of corporate executives across major industries. Read more.

Innovative Insurance Distribution: Report
Aite Group's latest report focuses on the expansion of distribution options available to both life and property and casualty insurance carriers as well as on what carriers should be looking for with regard to these partnerships. Read more.

IBAS Endorses CSIO eDelivery Solution
The Insurance Brokers' Association of Saskatchewan is pleased to announce its support for a new eDelivery solution soon to be released by the Centre for Study of Insurance Operations, which will allow brokers to securely send consumers their personal and commercial policy documents electronically. Read more.

Data And Analytics Advancing Slowly
More than 9 in 10 organizations have not yet reached a "transformational" level of maturity in data and analytics, despite this area being a number one investment priority for CIOs in recent years, according to a worldwide survey by Gartner. Read more.

Get On Board With National Education Month
The Insurance Institute of Canada has several educational courses, programs and seminars that can help to ensure new employees have the right tools and training for successful onboarding. Read more.

Drivers Fed Up With Paper ‘Pink Slips’
Insurance Bureau of Canada (IBC) has released the results of a survey that shows consumers are strongly in favour of being granted the option of carrying their proof of insurance “pink slip” in digital form. Read more.

The Intersection: Blog

What's going through the Intersection
of insurance and technology?

AI: Modernity With A Nod To Antiquity
Artificial intelligence (AI) comes with new opportunities to improve underwriting, marketing, new products, claims, and distribution. However, there are known unknowns, and a history of challenges that have little relationship to the technologies. Given the volatility of new tools, evaluating and managing AI is a dynamic task. Read more.

Be There For Your Policyholders When They Need You Most
By Nino Tarantino, Octo Telematics
While price is still the critical factor, policyholders are placing more importance on both peace-of-mind and engagement when evaluating their relationship with insurers. Claim servicing is the top driver of satisfaction; so how can you use telematics to improve the claims process? Read more.

“Insurance Vectors in Play:
Risk, Technology, Engagement” Technology Conference
Feb. 27-28, 2018 — Toronto

The Insurance Broker Association of Ontario is leading an initiative to improve broker-insurer connectivity. Learn more about their program and its future potential at ICTC2018.

Hear from Colin Simpson, CEO, IBAO; Adam Mitchell, President, Mitchell and Whale; Greg Kruk, Partner, Sentinel Risk; and Rick Orr, Owner, Orr Insurance.

Then get an insurer perspective, from Simon Brown, Digital Development, RSA, and Tom Reid, Digital Broker Strategy, Aviva.

Register now or see complete details.

From Doug

Looking at the 2018 ICTA nominations, I note that all the contenders explicitly address customer service or the user experience, if not both.

Unlike sports teams which have a straightforward objective each year to win the trophy, insurance businesses are here for the long run and have to survive whatever comes while working toward diverse and complex goals.

As new philosophies (innovation, disruption, InsurTech) and new technologies (AI, social, mobility, drones, blockchain) impact the industry, each has a period of hype in the spotlight and is later operationalized.

There are constants. Those who have applied the mantra of “good data” continue to reap the rewards. Core systems are also important foundational components.

But insurance is a people business. Your people who develop a strategy, then plan, implement and run it are key; they are your culture.

ICTC2018 will feature thought leadership and case studies on important insurance topics from AI and blockchain to UX and weather risk. Join us.

Doug Grant, CIP

Doug Grant

The Chronicle weekly newsletter features news, events, and general information relating to insurance, technology, and innovation in the Canadian insurance industry and the marketplace. Subscribe here or view past issues.

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