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JUNE 19, 2018

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INSURANCE INDUSTRY NEWS

Predictive Analytics Delivers Business Value
In its latest Novarica Market Navigator, research and advisory firm Novarica outlines the available predictive analytics software solutions currently available to US insurers to help both property/casualty and life/health/annuity carriers understand their options. Read more.

2018 Digital Technology Adoption Trends
Applied Systems has shared the findings of its annual Digital Agency®/Brokerage Survey, providing an industry-wide benchmark for agencies and brokerages to measure their digital technology adoption and progression towards digital transformation. Read more.

The Impact Of One Word On The Industry
The word “transformation” is often used interchangeably with modernization, but in reality, they mean two very different things. Modernization keeps you moving forward one step at a time. Read more.

Erie Mutual Insurance Partners With Biolinc
Erie Mutual and Brock University's Goodman School of Business are pleased to announce a partnership through BioLinc, Goodman's business incubator, to enhance new businesses and discoveries taking place at Brock and throughout the Niagara Region. Read more.

Pathway, AKA Broker Partner On Digital Marketing
Pathway has announced a partnership with AKA Broker to deliver a more streamlined digital marketing experience for Canadian insurance brokers and their policyholders under which each offers a discount to clients of the other. Read more.

KPMG, Google Partner On Digital Experience
KPMG International has announced an alliance with Google to help organizations transform their business and operating models with secure cloud computing, machine learning, enterprise mobility and advanced analytics technologies. Read more.

Tower Selects EIS Group Platform
Tower Insurance of NZ has selected EIS Group's digital insurance platform to underpin Tower's transformation into a challenger brand by simplifying its business and creating a new way to deliver different products and services for customers, tailored to their specific needs. Read more.

U.S. Auto Insurance Customer Satisfaction High
Despite increasing premiums, U.S. auto insurance customers are more satisfied with their carriers than ever, thanks to a mix of digital and live interactions that keep customers engaged across channels, the J.D. Power 2018 U.S. Auto Insurance Study reveals.
Read more.

Crawford Launches Staffing Solution
Crawford & Company (Canada), Inc. has introduced its Workforce ADVANTAGE program to the Canadian insurance market to meet staffing demands by placing Crawford claims management professionals in-house at our clients' place of business. Read more.

Great-West Life Plan Boosts Mental Health Care
The Great-West Life Assurance Company has joined Morneau Shepell in offering the mental health solutions provider's cognitive behavioural therapy platform, enriching the resources available to plan members receiving disability benefits for a mental health condition. Read more.


The Intersection: Insurance-Canada.ca Blog

What's going through the Intersection
of insurance and technology?

Operationalizing a New Insurance Model: Is Traditional Risk Passé?
When I started my insurance career (1983), I was impressed with insurers' collection of data. As my career pressed on, the shine faded, as there was little curiosity in using the data beyond specific needs.
However, Big Data, Analytics, Machine Learning, etc., are providing new data and processes to underpin insurance with significant benefits for the insured, the insurer, and the broker.
And more is still to come. Read more.


“The Digital Future of Insurance: Is Risk Passé?”

Tuesday, August 28, 2018

The new insurance economy is driven by algorithms.

This algorithmic-driven mindset is here for the P&C insurance industry with different stakeholders on a familiar journey of digitizing their workflows, introducing “BigData” platforms and investing in AI. But putting it all together is hard with common pitfalls.

Explore Insurance in the Age of Algorithms with Baiju Devani, Vice President of Enterprise Analytics at Aviva Canada.

Register today or see complete details.


From Doug

This weekend we drove through southern Ontario to a family picnic in the rural community where I grew up. Lots of memories – you can't take the countryside out of the farm-boy!

Someone brought a white pith helmet and red jacket from an ancestor who had commanded a battalion of the Perth County Regiment in 1890, along with a photo of the regiment.

There was no technology (as we understand it) at that time, obviously, but turning to today ...

It seems to me that the core of a great deal of artificial intelligence is machine learning (ML) – a subset of AI in the field of computer science. ML often uses statistical techniques to give computers the ability to harness data to “learn” (i.e., progressively improve performance on a specific task) without being explicitly programmed.

Doug Grant, CIP
Partner
Insurance-Canada.ca

Doug Grant

The Chronicle weekly newsletter features news, events, and general information relating to insurance, technology, and innovation in the Canadian insurance industry and the marketplace. Subscribe here or view past issues.

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