Insurance-Canada.ca - Where Insurance & Technology Meet

Will Driverless Cars Disrupt Uber and Insurance?

Ride-hailing services – the poster child being Uber – are recognized as a major disruptors for taxi fleets and other modes of transportation. These actors introduce continuous innovation by embracing internal disruption. However, there are other external initiatives that may disrupt the disruptors. And insurers may be collateral damage. We’d like your thoughts. Driverless cars… Read more »

Customer Experience as an Ecosystem: New Opportunities, Old Bugbears

Customer experience (CX) is becoming critical as insurers and brokers look for ways to maintain and grow relationships. One aspect that is less understood is the relationship the client has with other providers. Getting a larger perspective on the ecosystem offers a broader landscape with which to work but can be challenging to operationalize. The… Read more »

On Digital Marketing, Transformation, and OREOs

Would you pay $15 for a box of OREOs, delivered as a present? Not a question I normally ask, but the answer – which came at the Strategy Institute’s Digital Marketing for Financial Services Summit last week – was riveting and instructive on several levels, including the future of IT and Marketing. The marketing construct… Read more »

The Future of Work, Platforms, and Insurance

The on-demand  economy is driving new methods of work. New products and services  that leverage digital tools are emerging rapidly. Much of the development – and use – of these tools occurs outside of traditional work arrangements. Until recently, this had little impact on insurance, but that is changing. The nature of work is changing… 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 »

Innovation, Integrity, Fintech: Pick 2?

When we hear of ‘innovation’ these days, the odds are pretty good that there is new technology behind it. The question now is whether the technology innovation can maintain integrity while scaling rapidly, especially for financial services. Technology is a critical part of daily life In a recent blog post, Mark Breading, partner in the… 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 »

Developing the Aviva Ride-Sharing Insurance Coverage: Untying the Customer

Since Aviva announced its new coverage for ride-sharing services, several commentators have suggested that this solves problems for ride-sharing companies such as Uber. But what does it do for Aviva, its customers, and its distributors? The answers are both simple and profound. Tying customers up in knots? Jason Storah, Executive Vice President of Broker Distribution… Read more »

The Two-Edged Sword of Technology: Cutting Your Path to the Future

New technology options offer a rich environment of functionality combined with an engaging user experience. This combination can produce intended and unintended consequences. We believe the winners will be those that can plan for the unknown as well as the known. We will showcase strategies and tactics at #ICTC2016. Here are a few examples. Insurance… Read more »

What role will insurance play in the Sharing Economy Theatre?

The “sharing economy” (code for disruptive services such as Airbnb and Uber) is catching on with high consumer acceptance.  Governments are setting a stage which will allow consumers easy access to these new services.  Insurance will play a key role as well.  Our question is:  Will we be wearing a white hat or black hat?… Read more »