Insurance-Canada.ca - Where Insurance & Technology Meet

AI: The Computing We Always Wanted?

With all of the discussions about InsurTech, Disruption, Innovation, Artificial Intelligence (AI) may  be poised to slide in seamlessly and radically change how we do business.  Are we realizing what we thought computing should be? Where is AI now in insurance? We are already seeing implementations of AI.  Lemonade, which is bringing a new model… Read more »

InsurTech – It’s About Time

In the last two posts, I focused on whether incumbent insurers can employ InsurTech; I suggested that insurers can, assuming that the insurer is ready to make changes. Today, I’m posing the question: How can insurers effectively bring in InsurTech? Hint: As with insurance, time is of the essence. InsurTech on a role InsurTech –… Read more »

Insuring the Digital Economy (Part 2): A Slice of On-Demand Insurance

Recently, I suggested that the the digital economy offered opportunities for new revenue – but this would require insurers to look at new models.  The example was the introduction of coverage that bridged a gap. Let’s look at a different model which meets specific features of the new economy and promises real disruption. When you… Read more »

The Transforming Insurer: Competing in a Post-Modern World

Insurers have spent significant time and money updating processes and modernizing core business systems. What happens if modernization is only table stakes? According to leading analysts and practitioners, competitive pressures are increasing, coming from traditional and non-traditional suppliers. Their competitive advantage?  Transforming the enterprise to meet the demands of customers. How we got modern …… Read more »

Just in Time, Lean Insurance: Why and How

There is no doubt: we are living in volatile times that are impacting products, services, and processes. Technology is breaking down barriers and re-defining business models. Many sectors are adopting and embracing change. However, leading analysts believes that insurance has been an outlier. But there are opportunities to change that. What are the changes and… Read more »

Platforms and Insurance: Where the Bulldozer Meets the Road

In a 1989 speech to brokers, a bank executive offered an analogy to explain changes he saw to distribution: “If you see a bulldozer paving a road, heading towards you, you need to decide fairly quickly, ‘Do I want to be part of the bulldozer, or be part of the road?’” Twenty-five years later,  a… 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 »

When a Keynote Lasts All Day: Sharon Ludlow @ ICEF2015

A keynote address is intended to set the tone for a conference. This was exactly the case at the 2015 Insurance-Canada Executive Forum (ICEF2015). Sharon Ludlow’s remarks to kick off the day became the outline for the expert faculty to follow. We’ll provide samples here and will add further notes from ICEF2015 on another day. It… Read more »

Canadian Insurance Innovation: Can We Go From Inconsistencies to Opportunities?

Frankly, we have gotten a bit weary of the term ‘innovation’.  It seems that every second consultant, supplier, and blogger is beating the innovation drum, while reciting a litany of benefits ranging from improved profitability to better golf scores. It is a bit like dietary fibre: we all know we need more, but do we… Read more »

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Google Embedding Innovation in its Insurance Foray

‘Innovation’ is becoming a key driver for business generally, and insurance specifically. While there has been some hyperbole around the topic, we have found a few insurance industry analysts who have looked hard at the disruptive innovations that are beginning to be seen in the insurance domain. We recently featured a post from Celent’s Mike… Read more »