The Intersection - The Insurance-Canada.ca Blog

InsurTech: Going Hard or Hardly Going?

To avoid being ‘disrupted,’ and – potentially – to improve the balance sheet, some insurers are driving experimentation of Insurance Technology (InsurTech). However, some initiatives are geography-specific and, from a global industry perspective, the commitment is underfunded. Is this just the nature of today’s innovation paradigm, or are we treating InsurTech as a lower priority?… Read more »

Customer Experience Focus: Worth the While?

Insurers are realizing that improving customer experience (CX) can bolster the bottom line.  The good news is that digital tools align well to support improved CX.  The bad news is that real changes are not sustainable without more fundamental transformation at the technology and business levels. On balance, is this worth your while? Consumers are… Read more »

Insuring the Digital Economy (Part 2): A Slice of On-Demand Insurance

Recently, I suggested that the the digital economy offered opportunities for new revenue – but this would require insurers to look at new models.  The example was the introduction of coverage that bridged a gap. Let’s look at a different model which meets specific features of the new economy and promises real disruption. When you… Read more »

Kanetix and ClientDesk to Offer New Insurance App Solution

With technology continually revolutionizing the way people communicate, the relationship between company and consumer is also changing at a rapid rate. The insurance industry is not immune to the evolving expectations of consumers, and the recent partnership between Kanetix Ltd. and ClientDesk Inc. will help insurance providers to connect with their clients in ways they’ve… Read more »

On People, Platforms, and Predictable Disruption

A recent report from Accenture provides an interesting synopsis of trends in the insurance and technology world, including some extremely important insights on the role that intelligence (real, not artificial) will have to play in order for insurers to stay viable and actively manage what Accenture calls “predictable disruption.” This Year’s Vision is “Predictable” This… Read more »

Insuring the Digital Economy (Part 1): New Modes, New Methods

Insurers are realizing that the new digital economy is a prospect for growth (beyond cyber insurance). But insurers are also finding that they have to take different approaches to be successful in this world — and it involves making the insurance meet new demands. We’ll look at two examples. In this post (part 1 of… Read more »

Celent Innovation and Insight Day: Pride and Optimistic Uncertainty

Last week, I attended Celent’s Innovation and Insight Day. I found my (Canadian) nationalistic pride reinforced, my questions about the evolution and impact of FinTech and InsTech addressed, and even a boost for my (American) nationalistic pride. Don’t Forget the Alamo Celent CEO Craig Weber opened the day by describing what he believes is the… Read more »

Innovation, Integrity, Fintech: Pick 2?

When we hear of ‘innovation’ these days, the odds are pretty good that there is new technology behind it. The question now is whether the technology innovation can maintain integrity while scaling rapidly, especially for financial services. Technology is a critical part of daily life In a recent blog post, Mark Breading, partner in the… Read more »

Is CRM Realizing its Potential After 3 Decades?

Customer Relationship Management (CRM) offers users the potential to be more disciplined in marketing and selling products and services.  It was embraced early by insurance carriers.  However, after three decades of less than inspiring results,  is there a reason to keep CRM alive? If at first it looks like success …. One of the first… Read more »

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New Customers, New Insurance products, Same PAS?

Looking at the current state of some insurers’ core systems in the P&C  insurance world suggests that certain IT managers and project sponsors would do well to spend a  bit of time meditating  on one of Thomas Pynchon’s proverbs for paranoids: “If they can get you asking the wrong questions, they don’t have to worry… Read more »