The Intersection - The Blog

Selective Innovation: Reason for Celebration or Contradiction in Terms?

Criticizing insurers for their lack of innovation and technical progress has been a sport for at least 3 decades.  The most recent focuses on ‘digital transformation’.  The reality is that many insurers are very innovative, but not always focused on organizational transformation.  As an industry, are we missing the boat, or floating as best we… Read more »

Whose Biz? uBiz!

Small commercial business is highly competitive.   While the majority of the business continues to be written by brokers, direct writers and direct marketers are making inroads, primarily because of their ability to process the business quickly and efficiently.  Recently Gore Mutual announced an offering which provides efficiency, effectiveness, and the value of an independent broker…. Read more »

7 Essential Technologies for Engaging Insurance Customers

You got the email. “We need to improve our customer experience. Our conversion and retention numbers are down. What can you do?” In fact, you got several emails and briefings from marketing and line-of-business leaders, and you were copied on a complaint from a key producer citing frustrated policyholders. You know what it will take,… 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 »

Cyber Risk: Opportunities and Threats for Insurers

Uptake for cyber insurance has been challenging, according to the brokers I know who specialize in the product. However, recent reports say that this is turning  around, and it seems rates and premiums are rising as well. Question: Can the industry respond to turn these into opportunities? The turning tide According to a recent Wells… 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 »

Peer-to-Peer Insurance: Something Old, Something New

At a recent social event, a GP physician asked me what business I was in. When I told him insurance and technology, his eyes widened and he asked an unexpected question: “What do you know about peer-to-peer insurance?” I told him it was becoming a hot topic in my world, and he surprised me again,… Read more »

360° Customer View: You Can Look, but Can You Touch?

Like the lives of so many celebrities and reality-show families whose relationships and daily interactions are splashed across our screens, insurers’ views of their customers present the same frustrating dilemma: sometimes they want to try to reach into the customers’ world to help influence decisions. But, just like on TV, it seems today’s insurers can… Read more »

Platforms and Insurance: Where the Bulldozer Meets the Road

In a 1989 speech to brokers, a bank executive offered an analogy to explain changes he saw to distribution: “If you see a bulldozer paving a road, heading towards you, you need to decide fairly quickly, ‘Do I want to be part of the bulldozer, or be part of the road?’” Twenty-five years later,  a… Read more »

Benchmark’s Experience with CARF Accreditation: Long Day’s Journey into Enlightenment

As a leading Independent Medical Examiner, Benchmark is committed to meet or exceed standards for quality and service. To this end, we committed to complete the Commission on Accreditation of Rehabilitation Facilities (CARF) accreditation process. The experience was enlightening and we thought we would share it with our community. What’s CARF? CARF’s mission is to… Read more »

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