Insurance-Canada.ca - Where Insurance & Technology Meet

Can Insurers Break Through to a New Plane of Digital Engagement with UBI?

Reports indicate that insurers have hit a low plateau in the implementation of consumer engagement strategies using digital technologies. There may be a unique opportunity, in the form of Usage-Based Insurance (UBI), which could allow a transformational breakthrough into the brave, new, digitally-engaged world. We’d appreciate your thoughts. What’s causing the blockage? As reported on… Read more »

Are Customers Returning to Independents? For How Long?

A recent poll for a US insurer suggests that a significant portion of insurance consumers who moved from the independent channel to direct marketers are returning to the independents. Good news for Canadian brokers? Perhaps. Sustainable change? Aye, there’s the rub. Sixty percent return to independents …. The Hanover Insurance Group, a top 25 US… Read more »

Is Data Forcing Modern Systems to Stay in Second Gear?

There has been significant emphasis in the past few years on rapid execution of implementation plans for large systems. Agile methodologies and modern technologies allow significantly shorter timelines from the decision stage to lights-on.  However, the delivery of strategic goals may not follow as quickly, as we cope with our increased need for more, and… Read more »

Analytics Goes Operational From Quoting to Claims

Increasingly, insurance-related analytics is moving from the purely analytic to real-time operational for leading insurance organizations and new-comers to the industry. The impacted areas range from from prospecting and conversion to claims handling including fraud management. And the anticipated results are impressive. Analytics for Fun and Prospects (Is That A Zebra In My Quote?) On… Read more »

Beyond Technology Modernization: Will The Circle Be Unbroken?

We have all heard about the need for insurers to ‘modernize’ their core technologies in order to survive and thrive. But how long does a system stay ‘modern?’ And is modernization enough? Several experts suggest that modernization should not be a goal, but rather a process that requires other complementary investments to occur to achieve… Read more »

How Do Consumers Want To Be Served? Do We Know, or Think We Know?

“How may I help you?” It seems like an innocent enough question, but our success going forward  may depend on knowing the correct answer for each prospect or customer we serve.  Specifically, we need methods to understand each consumer’s attitude about how much of his or her personalized information we can (or cannot) use. This… 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 »

Several Dimensions of Theory Vs. Reality For BYOD

It seems like a straightforward question:  Should employees be allowed or encouraged to use their own electronic devices at and for work?  Informal conversations with our peers suggest it is not so easy to come up with a simple answer and, as a result, there doesn’t seem to be a consensus among Canadian insurers and… Read more »

Is Canada Behind in Social Media Use?

Lately, one of the more frequent questions we hear seems to be: “Are we Canadians lagging in the use of social media for business?”  A couple of recent items suggest that we probably are, in business generally, and insurance specifically. The Weekend Globe and Mail (16 Apr) carried an article:  ‘Canadian Job Seekers Lag in… Read more »