The Intersection - The Insurance-Canada.ca Blog

Does the Big Data Future Start with One Step Back?

The old saying, “Data Rich, Information Poor,” seems more applicable today than when it was first coined. Paradoxically, at the same time as we are facing data avalanche, the most important tool to exploit 21st-century data might be one that has been around for more than three decades.  However, this “one step backward” approach may… Read more »

Emerging Technologies and Insurance: How Do You Resource Innovation?

Do you and your staff have some extra cycles? Specifically, would you mind evaluating three, five, or maybe nine new technologies in your spare time? Just asking, because there might be a few things coming along …. We’d like your thoughts about the capability of insurance organizations to exploit new technologies.   Emerging Technology’s Impact on Insurance – Source SMA… Read more »

On Being Re-skinned: Welcome to The Intersection’s New Look

As you likely noticed (if you’ve come by this blog before), we’ve been re-skinned! It didn’t hurt too much, really, and we believe the updated look and feel, combined with new features, will make your experience with the Intersection more rewarding. We hope you’ll let us know. How did this all start? Back in October, 2010, we… Read more »

A New Era of Technology: Part 2 – Analytics

In my last post, I focused on the transformative power of the current generation of Mobile Technology. I will turn to the core of current technologies, and an example from the insurance industry. Big Data, along with his trusty companion, Analytics are what drives organizations to make decisions because…the numbers don’t lie. Gone are the… Read more »

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Canadian Insurance Innovation: Can We Go From Inconsistencies to Opportunities?

Frankly, we have gotten a bit weary of the term ‘innovation’.  It seems that every second consultant, supplier, and blogger is beating the innovation drum, while reciting a litany of benefits ranging from improved profitability to better golf scores. It is a bit like dietary fibre: we all know we need more, but do we… Read more »

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A New Era of Technology: Part 1 – Mobile

As I think of the amazing transformation we have witnessed over the past couple years, I wish I could share this moment with my grandparents. They would be blown away by the simple idea of a smartphone, tablet, or PVR, the technologies we take for granted every day. Does this make us oblivious to how… Read more »

Agent Connectivity: What Gets Measured…

The old adage, “what gets measured, gets done,” was validated again during the agents’ sessions at the ACORD Implementation Forum this week.  And, just as significantly, what got done is forming a platform for better things to come. Real-time is real work…. Within the U.S. property-casualty community, Agency/Company interface is an industry with a half… Read more »

Aligning Insurance and Emerging Technologies: Existential Requirement or A Step Too Far?

A recent report from SMA, “Emerging Technologies: Reshaping the Next-Gen Insurer,” has an ambitious scope, on which it delivers. Moreover, it contains a surplus of well-supported recommendations for aligning threats and opportunities driven by the technologies with changes in insurance purpose and process. The challenge we see for some insurers – especially one segment  of… Read more »

Insurance 2024: A View from the Podium

Who would ever have thought that the insurance industry, which has thrived for many years with a traditional business model, would face pressure to adopt cloud, analytics, mobile and social strategies to meet the needs of its insureds? Regardless, 100 attendees at the Insurance-Canada Executive Forum: Insurance 2024 did. I believe we all came away… Read more »

Will Insurers Lead Transformation with the Internet of Things?

At the recent 2014 Insurance-Canada.ca Executive Forum, Donald Light, Director – Americas Property/Casualty Practice, Celent, gave an update on the progress of the Internet of Things and his view of the direction the IoT might give to the industry.  It is a bad news/good news story that — we think — needs careful attention. Do… Read more »