- Where Insurance & Technology Meet

Personal Lines: Top Business and Technology Projects

This year will see a renewed focus on telematics/UBI with big new shifts all around the customer New SMA Blog Deb Smallwood, Founder & CEO, Strategy Meets Action Boston, MA (Feb. 28, 2018) – SMA has tracked the changing course of business and technology projects in the insurance industry for nine years. Our recent research… Read more »

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Rise of the robots brings huge benefits for businesses, but also creates new loss and liability scenarios

Allianz Artificial Intelligence Report Highlights: AI-based applications will increase vulnerability of businesses to cyber-attacks and technical failure, leading to larger-scale disruption and loss scenarios Companies face liability challenges as responsibility shifts from human to machine and manufacturer. New framework needed to manage rise in AI-generated damages Risk management can help maximize the net benefits of… Read more »

Connected-Car Insurance: The Rise of Data Exchanges

Connected-car data exchanges and alternative models are competing to bring OEM data to the insurance industry, giving insurers a number of options: Aite Group report Boston, MA (Mar. 21, 2018) – Aite Group’s latest report, Connected-Car Insurance: The Rise of Data Exchanges, explores auto insurers around the world and their quest to accelerate the penetration… Read more »

KPMG’s 5th annual Canadian insurance industry opportunities & risks report

KPMG’s 5th annual Canadian insurance industry opportunities & risks report Toronto, ON (Mar. 19, 2018) – With input from insurance professionals across the country, KPMG’s 5th annual Canadian insurance industry opportunities & risks report uncovers a number of interesting findings and trends. Rapid technological developments and shifting consumer preferences have revolutionized several sectors of the economy… Read more »

Large Commercial Brokers Focusing Tech Investments on Improving Digital Workflow

Analytics, business intelligence, and AI tech used to differentiate customer service: Novarica Boston, MA (Mar. 13, 2018) – The greatest technology challenge faced by large commercial brokers is transacting business with multiple carriers and distributors. Brokers are seeking to differentiate themselves in a competitive marketplace through improved technology such as AI, analytics, and workflow tools…. Read more »

Car Insurance Prices Rise in Alberta, Decline in Ontario

On average, Albertans 45 and up in saw the largest increase (5.6%) in the past year, while Ontarians 18 to 24 saw an 11.8% decline in their rates: 2018 Auto Insurance Price Index report Toronto, ON (Mar. 13, 2018) – Today, launched its 2018 Auto Insurance Price Index report, the country’s only price… Read more »

Insurers That Transform Their Businesses and Operating Models Could See US$375 Billion in New Revenue Growth

Accenture releases new report, “Insurance as a Living Business” New York, NY (Feb. 12, 2018) – Insurance carriers globally could seize US$375 billion in new revenue in the next five years by transforming and revitalizing their businesses, according to a new report from Accenture. The report, “Insurance as a Living Business,” finds that insurers that… Read more »

Innovative Insurance Distribution: Can Vendors Provide What Carriers Want?

A new array of alternative distribution options has emerged in recent years for insurance carriers to consider Boston, MA (Jan. 30, 2018) – Aite Group’s latest report, Innovative Insurance Distribution: Can Vendors Provide What Carriers Want?, focuses on the expansion of distribution options available to both life and property and casualty insurance carriers as well… Read more »

Costliest year on record for weather disasters with USD344 billion global economic loss in 2017

Aon catastrophe report: All natural disasters cost USD353 billion, with insurance industry in position to handle high volume of claims payouts and explore future growth to build resilience in underinsured regions Chicago, IL (Jan. 24, 2018) – Impact Forecasting, Aon Benfield’s catastrophe model development team, has launched its Weather, Climate & Catastrophe Insight: 2017 Annual… Read more »

Quantum Computing to Usher in Fundamental Technology Change

Novarica report suggests that while changes won’t be immediate, insurers should incorporate quantum into their five-year plans Boston, MA (Jan. 25, 2018) – The technology of today is still limited by barriers imposed by classic binary computing. Quantum computing will bring about a change in technology that will impact the fundamentals underlying data usage and… Read more »