"Chronicle" weekly newsletter - Where insurance and technology meet

NOVEMBER 7, 2017

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Blockchain in Insurance: What's the Real Story?
Leading insurance strategic advisory firm Strategy Meets Action has just published a new blog by partner Mark Breading about how much of the conversation around blockchain is hype and how much is reality.
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Chatbots Mitigate Rising Costs, Expectations
P&C carriers are facing tepid growth in written insurance premiums and increasing demands from policyholders. Aite Group's latest report examines chatbot vendors in the insurance space and the opportunities that they bring for carriers.
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The Cost Of Ignoring The Metadata Opportunity
Roy Pollack explains that some of the costs associated with maintaining metadata are not only justifiable but in fact constitute a worthy investment.
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AIG Introduces Digital Subsidiary Blackboard
American International Group, Inc. has introduced BlackboardSM, the new brand name and logo for its technology-focused subsidiary, formerly operating under the Hamilton USA brand. AIG completed the acquisition of Hamilton USA on October 2, 2017.
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RSA Transitions Surety Business To Trisura
Trisura Group and RSA Canada are pleased to announce the transition of RSA's contract and commercial surety business in Canada to Trisura Guarantee Insurance Company.
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Lawyers' Mutual Selects ISI Enterprise
Insurance Systems Inc. is pleased to announce that Lawyers' Mutual Insurance Company has selected ISI Enterprise for its insurance operations.
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IMS Awarded Road Usage Charge Project
Intelligent Mechatronic Systems has been awarded Washington state's first road usage charge project, through which participants will get access to DriveSync® connected car services with billing through A-to-Be's MoveBeyond™ back office platform.
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Jack & Co. Partners With Archway Insurance
Archway Insurance is pleased to announce that Jack & Co. Limited of Halifax and its affiliate, AFC Insurance Services, have joined forces with the growing brokerage.
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Peace Hills, DAS Offer Legal Expense Insurance
Peace Hills Insurance is proud to announce a new partnership with DAS Canada to protect Homeowner, Condo, and Tenant policyholders when they are faced with an unforeseen legal life event.
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Reinsurance Sector Poised For Hurricane Losses
In the wake of a devastating hurricane season, JLT Re has launched a new Viewpoint Report which assesses the likely impact on the reinsurance market and highlights the key differences this year compared with previous market-changing losses.
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Willis Towers Watson Updates Emblem Modeling
Willis Towers Watson has released an updated version of its Emblem predictive modeling software, distinguished by the addition of a technique to model complex customer behaviors.
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Tips To Protect You From Email Phishing Fraud
The Guarantee offers these five tips to help you catch Spear-Phishing in your inbox and protect yourself from targeted, fraudulent emails intended to appear genuine and from trustworthy sources.
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Disruptive Innovation Forum 2017 - You to the Power of IBM

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InsurTechTO - Monday, November 6, 2017

From Doug

What is InsurTech? I am narrowing in on my definition – InsurTechTO helped.

It is NOT insurance technology (but technology is an essential ingredient – no surprise there).

It is more than technological components – such as cloud, A.I., drones, analytics, etc. – which are being deployed widely across the insurance sector.

As we heard at InsurTechTO, insurers and brokers are investing in or working with InsurTechs yet do not consider themselves InsurTechs. It seems InsurTechs are those building solutions, using advanced technologies, to address pain points in insurance.

That yields two categories: (1) those who are entering the insurance business as a broker or insurer; and (2) those who are selling their solution to brokers or insurers.

The buzz seems to be moving from investment in InsurTechs toward more dramatic innovation by incumbent insurers and brokers using best practices relating to speed and agility, a culture of change, and focus on the customer.

Doug Grant, CIP

Doug Grant

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