The Intersection - The Insurance-Canada.ca Blog

MGAs: on the Edge of Digital?

This past week, I read a post from CB Insights suggesting that Managing General Agents (MGAs) may become significant players in the digital insurance world.  After cleaning my glasses to make sure I was reading the post correctly, I reflected a bit and  and am coming around to the idea… Sort of. First reality check:… Read more »

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Operationalized Customer Experience: On the Horizon?

The last two decades have not been kind to insurers. Sources of pain range from a continuing soft market and falling interest rates to regulations and judicial rulings that increase costs or limit revenues. Insurance marketers have sought strategies that could increase competitive advantage and improve profitability. One such strategy is ‘Customer Experience.’ Will this… Read more »

Marketing Disruption – The Future of the Insurance Promise

Disruption is challenging the construct of the insurance product, which leads to a crucial question: How do we convince consumers that existing insurance organizations are still needed? A new commercial is starting down this road. And reviewing some alternative ads might be in order. We’d like your thoughts. The End of Automobile Insurance Back in… 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 »

Digital Divide: A Tale of Two Insurance Models

Common wisdom says that insurers must adopt digital technologies in order to become more flexible, more innovative, and more effective. The alternative is to face ‘disruption’ with insufficient resources to respond. But is this assumption accurate? Let’s compare two insurer models and develop some thoughts on the value propositions. The ‘digerati’ Digital transformation is a… Read more »

Enhancing Digital With Psychology? The Doctor Can Help!

You are designing a website which will provide quotes on a great new product suite.  In addition to insurance coverage, this site must link to related products and services that will engage the customer. You’re confident in your technical skills, but how do you make it engaging? Perhaps you need a doctor. Why do I… Read more »

Do We Go Outside to Bring InsurTech In?

A recent report documents the geometric increase in organizations and funding dedicated to innovation and disruption in insurance. While the result is a vibrant and robust ecosystem for insurers to navigate, the authors add an important caveat about the actual reach of the efforts, and suggest a trip outside might be in order. “InsurTech” is… Read more »

Drive To Thrive – On Our Way to Zero

In 2014, in the province of Alberta alone, there were nearly 145,000 collisions – causing close to 19,000 injuries and 370 fatalities. These numbers are staggering, especially when you consider that other provinces across the country are recording similar statistics. The data clearly shows us that something needs to change, and change we will. In… 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 »

Fort McMurray, Insurance and Data: Hi-Tech supports Hi-Touch

During the second week in May, I attended a conference focused on the use of data in insurance. What I didn’t realize was that, quite apart from the formal agenda, I was going to learn the value of integrated data and analytic tools in catastrophic situations. On the banks of the Athabasca Fort McMurray, a… Read more »