“The New Landscape”
Social Business, Mobile, Analytics, Modern Technology
10th Annual Insurance-Canada.ca Technology Conference
Toronto Sheraton Centre - March 5, 2012
ICTC2012 was held Monday, March 5th, 2012.
Our two-day ICTC2013 will be held March 18-19, 2013.
2012 Conference Logo and Theme
The 2012 conference theme is “The New Landscape”. Our conference logo represents key components of the theme. Our faculty will address the elements of the theme in their presentations.
We believe the New Landscape has three elements, represented by three concentric circles in the logo.
Results are at the centre.
Surrounding results are business actions which create data, which become information, which accumulate into knowledge, which in turn inform further action.
Supporting the business actions are major IT trends: Business Analytics, Modern Core Technologies, Mobile and Social Business.
Components of the Logo
1. Data: The quantity of data, whether statistical - as in internet and social data - or transactional, being gathered and stored is increasing dramatically, leading for some larger organizations to the challenges of "big data". As more and more decisions are being made based on this data, the quality of data from initial capture is increasingly important. When processed by multiple organizations (brokers, insurers, reinsurers, claims providers), the explicit meaning of the data becomes imperative (industry standards). There are lots of issues and opportunities in that data.
2. Information: Traditional reporting tools and basic analysis have been the basis for information upon which many decisions have been and continue to be made. Based on ever-better data and using sophisticated analytical tools with better analytic approaches, the information today is increasingly higher quality, more granular and better predictive
3. Knowledge: Better traditional information, and new information based on other sources is combined with experience, interpretation and judgment to provide insight. This insight enables decisions.
4. Actions: In today's real time world, many decisions have to be made in the front lines of underwriting and claims. Of course longer term tactical and strategic decisions and actions will determine performance relative to the competition. Actions will often identify the need for more data and how existing data can be improved.
5. Results: At the end of the day, corporate success depends on and is defined by results.
6. Social Business: Based conceptually on social media and related tools, these enable more effective communications. Currently viewed by many as being for personal social use, businesses are harnessing them for marketing and customer service purposes. Will the tools evolve into more effective ways for those inside the industry to collaborate and share, in order to more effectively (and efficiently) accomplish our work responsibilities and objectives.
7. Mobile: Increasingly rich in function and communications, the mobile tools promise our desktop functions wherever we are. With such mobility come a number of issues and challenges.
8. Analytics: These systems and tools help locate the hidden business information from the growing volume of data, allowing us to be more granular in underwriting, claims, customer service and marketing. Some predict that analytics could transform some of the basic insurance products over time.
9. Modern Technologies: At the base level, modern processing systems are better at collecting, processing and communicating data and at managing workflows - functions required to operate the business. They provide the foundation upon which people can apply their skills to analyze, communicate and collaborate. But modern core technologies have their challenges too - how to get there, and then how to stay there as the technology evolves over time.
These elements of the logo are being evaluated, selected and implemented, today, in order to drive better results and help the corporation meet its objectives. Each of our speakers will address one or more aspects of the theme, to help address the challenges and issues we all face.