Insurance-Canada.ca - Where Insurance & Technology Meet

Amazon Introduces Alexa and Echo, Echo Dot, and Echo Plus in Canada

Highlights Alexa is a cloud-based voice service that is always getting smarter—she answers questions, plays music, turns on and off the lights, gives you sports scores, and more Amazon Echo is a revolutionary device designed entirely around your voice—it’s always ready, hands-free, and fast—just ask Alexa and get answers instantly Put an Echo Dot in… Read more »

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InsurTech and Insurance, a Match Made in Where?

The relationship of insurance and technology has had its low moments in the past. However, the entree of ‘InsurTech’ is demonstrating that Insurance and Tech can work well together. Moreover, the relationship may be mandatory. Can we do this without starting a war? What do insurTechs think about taking a position in insurance? Noting that… Read more »

Nationwide adds Alexa voice option to customer communications for telematics UBI

Advancements in digital innovation through voice-integration technology: Integration to encourage safe-driving habits helps lower insurance premiums COLUMBUS, Ohio (July 18, 2017) — As Nationwide continues to make industry-leading advancements in digital technology, the company has enhanced its current Nationwide skill for Amazon Alexa by adding a SmartRide® capability. The goal is to provide a new… Read more »

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On People, Platforms, and Predictable Disruption

A recent report from Accenture provides an interesting synopsis of trends in the insurance and technology world, including some extremely important insights on the role that intelligence (real, not artificial) will have to play in order for insurers to stay viable and actively manage what Accenture calls “predictable disruption.” This Year’s Vision is “Predictable” This… Read more »

Insurance Going from Evil to Good: Is there an App for That?

Sixty-one years ago tomorrow, Sun Life Insurance took out an advertisement to provide high points of its annual report. In the ad, a box provided commentary, with the heading, “The Miracle of Life Insurance.” While this sounds arcane today, it might be making a reprise in P&C insurance, thanks to Insurance Technology (InsurTech). Fintech is… Read more »

Selective Innovation: Reason for Celebration or Contradiction in Terms?

Criticizing insurers for their lack of innovation and technical progress has been a sport for at least 3 decades.  The most recent focuses on ‘digital transformation’.  The reality is that many insurers are very innovative, but not always focused on organizational transformation.  As an industry, are we missing the boat, or floating as best we… Read more »

Only in Insurance: Can Analog be Accommodated in Digital?

Becoming digital is the holy grail these days.  Insurers look with envy at the likes of Uber and Amazon, which use digital to completely disrupt complex business by introducing digital platforms that suck up consumers with the elegance of  a finely tuned Dyson.  So why, then, is digital taking so long to catch on with… Read more »

Data and Analytics: We Have Met the Enemy, and …

Insurers (and distributors) are seeking efficiencies and differentiation strategies.  One common approach is to become “data driven” in products, services, and customer service.  The siren song of increased market share and profitability emanates just around the analytics bend. The aspiration is laudable, but carries execution risks.  Fortunately, we already have the tools to move forward. Analytics… Read more »

One-Stop Financial Shopping: Will We Find the Holy Grail?

In the news stories surrounding the purchase of State Farm’s Canadian operations by Desjardins General Insurance Group, I saw a phrase that took me back to my insurance roots: ‘One-Stop Financial Shopping’. Conceptually, this has strong appeal for all parties – insurers, distributors, and clients.  In practice, however, results have been spotty. I’m wondering if, in… Read more »

Insurance and The Internet of Things

Last week, we penned some thoughts on trends in insurance and technology for 2014. These included items which have received attention in this space and elsewhere: Modern Admin Systems, Cloud Technology, and Telematics/Usage-Based Insurance. We added in one that is just climbing out of the geeky world and hitting the horizon of business: The Internet… Read more »