The Intersection - The Insurance-Canada.ca Blog

The Era of the Digitally Unthinkable

Digital transformation is a hot topic these days. In many ways, the technology is a catalyst for different approaches to the business of insurance. To take advantage of this, insurers and suppliers will have to look at the existing relationships and be prepared to commit to new terms of reference.  Are we prepared for that?… Read more »

Waiting for Disruption

An analyst and thought leader recently went public with a post suggesting that disruption is over-hyped and underwhelming from a practical standpoint. I respect the author and the analysis, but I think that we are in uncharted territory, and when looking at disruptive competitors, we might consider Hunter Thompson’s advice. Who is the analyst and… Read more »

If Digital Is Urgent, How Do We Play It?

InsurTech (Insurance Technology)  is a hot topic in the insurance community these days.  But how significant is this trend and how urgently do we have to respond?  We think that the recent  Insurance-Canada.ca Executive Forum (ICEF2016)  provided insight. What do we do and, when do we do it? Writing in PropertyCasualty360, PwC analysts, Jamie Yoder… Read more »

Will Driverless Cars Disrupt Uber and Insurance?

Ride-hailing services – the poster child being Uber – are recognized as a major disruptors for taxi fleets and other modes of transportation. These actors introduce continuous innovation by embracing internal disruption. However, there are other external initiatives that may disrupt the disruptors. And insurers may be collateral damage. We’d like your thoughts. Driverless cars… Read more »

Searching for Innovation in All the Wrong Places?

We all agree that innovation is the word of the decade (so far). But today’s version of innovation may require some humbling tradeoffs. Are you ready for this? Tell me if you’ve been here … It’s planning time and the executives have been spirited away to a 3 day retreat to finalize ‘The Plan’. The… Read more »

Millennials Leading the Way for Digital Transformation

With 75% of the workforce expected to be made up of digital natives by the year 2025, digital communications are becoming more and more important. I’m not a millennial, but I live with a few of them, and I have noticed some differences. Big Group/Big Differences.  Big Dollars/Big Opportunities. At first I didn’t buy into… Read more »

The Future of Insurance Work?

The insurance industry has a reputation for being a stable, consistent employer with a structured model for talent acquisition and development. But new demands may require additional skills, training, and terms of engagement to meet an emerging disruption. We’d like your thoughts. Insurers and Future Work The noted futurist David Smith produced a white paper… Read more »

On Robotics and Muddling Through

While reviewing material on the benefits and challenges of implementing omnichannel communications, I came across a new (to me) approach to introducing robotics into existing processes. I am a big fan of ‘muddling through,’ and this approach seems to offer help to organizations which are looking for a starting point to the digital world. It… Read more »

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 correctly, I reflected a bit, and I 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 »