The Intersection - The Insurance-Canada.ca Blog

Is it Possible to Calm the InsurTech Blizzard?

We are experiencing a blizzard of technologies and processes aimed squarely at changing the insurance industry. Early implementations show that there are opportunities to improve the business of insurance, but some of the edges are fuzzy. The new technologies rely on a new business model that can be a bit threatening. So, What’s New ……. Read more »

Modern Technology, Muddling Through, and Insurance Management

Insurance decision-making has always been a vibrant mix of data / facts and personal experience / intuition. Question: Will the rise of powerful data analytic and inferential tools tilt the balance permanently? Scientific Management keeps getting more scientific Since scientific management principles were brought forward in the early part of the 20th century, there has… Read more »

Accenture’s Vision of Insurance: 5 Trends and a Great Plot

I have the opportunity of  reading a lot of interesting, forward-looking material related to insurance technology.  While most have some value points, few have the detail and holistic view that I found in the Accenture Technology Vision for Insurance 2015. It is well presented and has specific conclusions that will challenge many of us, for… Read more »

Data Governance: Under New Management?

A recent post in SearchContentManagment posed the question: “Is 2015 finally the year of the data governance plan?” Bravely, they also provided their answer: “No.”  While I agree with the logic that led there, I disagree with the conclusion. I think there is another corporate group that is working on all the components now and could… Read more »

Is Insurance CRM Dead, or Does It Just Smell Funny?

Customer Relationship Management (CRM) has had a chequered history in the insurance industry.  There is significant potential value, but precious little that has been realized.  The question is, can this change? Here’s my experience … The second IT project I worked on in the insurance industry was developing and deploying a CRM solution for multi-line… Read more »

Analytics In P&C Insurance: Is a Good Start Good Enough?

A new report from two senior analysts at SMA suggest that P&C insurers have made a good start down the analytics road.  The question is:  will this be good enough to remain competitive given the pace of adoption by present and potential competitors?  A second report, focusing on the broader Financial Services community, puts perspective… Read more »

ICTC2014: Focus On The Core (Plus More)

Core Insurance Systems replacement will continue to be a major thrust for many insurers and brokers in 2014, according to virtually all insurance technology prognosticators (present company included).  Data suggest a majority of insurers are at various stages from planning to almost-completed.  Some projects are going well.  Others need some re-examination.  All can benefit from… Read more »

Summertime, And The Living Is … Frenzied?

With 2013 more than half over, some days it feels as though we’ve done a whole year’s worth of work already and there’s still a year of work more before the calendar year ends. Is this an exceptional period, or another “new normal”?  And is there anything that can help?  We’ve got some thoughts and… Read more »

Analytics Getting Operational In Intelligent Claims Processing

Analytics capabilities are seen by insurers as essential tools for intelligent claims handling, so much so that technology suppliers are moving to embed analytics offerings within claims administration systems.   Two leading experts, while underscoring the value that analytics can bring to claims handling, offer a cautionary note about over-reliance on silicon tools to the exclusion… Read more »

To Data With Love: A Valentine Card for a Complicated Relationship

“She is frequently kind, And she’s suddenly cruel She can do as she pleases, She’s nobody’s fool But she can’t be convicted, She’s earned her degree…” –        Billy Joel, American singer/songwriter Databases have been called “relational” but if data were a person, I would describe my relationship with her as “complicated.”  I’ll give you some… Read more »