Insurance-Canada.ca - Where Insurance & Technology Meet

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 »

Waiting for Disruption

An analyst and thought leader recently went public with a post suggesting that disruption is over-hyped and underwhelming from a practical standpoint. I respect the author and the analysis, but I think that we are in uncharted territory, and when looking at disruptive competitors, we might consider Hunter Thompson’s advice. Who is the analyst and… Read more »

Are you Competing with a Robot to Keep Your Job?

In your current job, have you ever asked yourself, “Could I be replaced by a machine?” If not, you might want to pay attention to advances in robotics. There is risk, and there is hope.  However, hope seems to require embracing the inevitable incursion of machine intelligence on our intellectual turf. Who is safe, who… Read more »

ORBiT 2015: Digital Lively, but CRM May Still Be Dead

At ORBiT Real Time Day this week, the majority of discussions were vibrant – focusing on effective use of new technology and building better digital connections in the broker world – until one attendee turned to the funereal topic of CRM.  Then things got really lively. I’d like your thoughts. What’s an ORBiT, Mom? And… Read more »

Analysts: Customer is Queen, Data is Crown Princess

Two recent reports are making it clear:  The winners in the new insurance game will be those who recognize that the driving force for change is the customer, and data and analytic tools will be key enablers for the change.  We’d like to know:  Does this message resonate with your organization, with your colleagues, and… Read more »

Data Analytics and Understanding: Strategies for Balanced Growth

There’s an old story that goes something like this:  The CEO has commanded that all decisions have to be backed by solid market information.  This causes a parade of people to form outside the IT VP’s door looking for data and information.  After getting tired of providing the same answer, the overworked exec puts up… Read more »

Insurance Digital Marketing: Data Primacy, Channel Challenges

There is conflicting evidence about the current value/importance of digital or data-driven marketing for insurance. However, there seems to be consensus on a few elements: Data comprise the currency, and Channel assumptions will be challenged. Our questions: How well prepared is the insurance industry for changes that are coming in data driven marketing? How well… Read more »

DIY Claims: Tools and Analytics Support Innovation

From home improvements to financial transactions, ‘Do-It-Yourself’ has become a trend for consumers.  A recent article by a noted industry consultant suggests the DIY philosophy might well be carried forward to claims handling, with benefits to all concerned.  Like other DIY projects, the right tools, and skills, are keys to success. Christopher Tidball, who authored… 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 »