The Intersection - The Insurance-Canada.ca Blog

Digital Insurance: What, Why, and How

‘Digital insurance’ is a hot topic within the P&C community. At a high level, consultants and practitioners can rapidly agree on the importance of ‘digitalization’. However, when we start developing and implementing a business case, definitions of the strategies and tasks get a bit murky. Two recent articles help focus on critical criteria. Why do Digital… 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 »

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 »

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 »

Too Much Going On? Too Expensive? This Could Be the New Normal

When we ask our IT colleagues how they are, the most frequent response is “Too Busy.” When we ask our Finance colleagues how things are going, a common reply is that “IT projects are costing a lot.” These aren’t necessarily new revelations, but we’re wondering if these symptoms indicate bigger changes coming. We’re going to… Read more »

Policyholders Will Love That Omnichannel Feeling

“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ―Maya Angelou “Customer intimacy” might be the latest catchphrase in customer experience, but I wonder how policyholders really feel about being more intimate with their insurance company. How close do… Read more »

Is the Purpose of Digital to Make Analog Better?

I own a good number of vinyl records, some going back almost five decades. I like the experience of vinyl better than any other reproduction of music. That said, much of the electronics that support playing the vinyl are fully digital. Is there a lesson here for digital generally, and digital insurance specifically? I’d like… Read more »

The Digital Insurance Organization: If or When?

Becoming ‘digital’ is the latest mantra.  Unfortunately, this makes it easy to dismiss ‘the digital insurer’ as the next fad. However, pressures on the industry are going to force tough decisions about product, service, and distribution.  A number of industry analysts are indicating that successful adoption of digital strategies will be a hallmark of successful… Read more »

The Agent Advisor: Virtual, but Very Real

Watson, the computer made famous for winning on the quiz show Jeopardy!, is getting a lot of media attention. Already, the medical profession has already adopted Watson Oncology Advisor to advise physicians in selecting appropriate treatment protocols for their patients. Watson and cognitive computing has captured the imagination of leading insurers and banks who are… Read more »

The Future of Insurance: Virtual Assistants

Editor’s Note: Andrea is the  Watson Transformation Leader, IBM Financial Services. We get this question often: Will platforms like Watson impact the insurance community in a meaningful way in the foreseeable future? To answer that question, let’s take a look at how Watson can help insurers transform the customer experience. Tech-savvy insurance customers are becoming… Read more »