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 »

Data & Analytics: Going to the Core of InsurTech

In less than 2 years, ‘InsurTech’ has become a topic du jour for insurance and technology professionals. But much of the discussion focuses on ease of use and engagement; it misses some critical fundamentals. Fortunately, there is an opportunity to find the mix of externals and internals creating the magic. Ease of use is getting… Read more »

2016 – Digital Directions and Distractions

In the late days of 2015, we projected that 2016 would have one overarching driver for insurers and brokers: digital transformation. All things being equal, I think we hit a chord that resonated. However, there was a parallel trend that made the acoustics a little strange. Digital First In 2015, there were early indications of… Read more »

Cyber Risk and Commerce: Communication Across Multiple Constituencies Required

We increasingly rely on digital for all matters of commerce. Whether we are buying tangible items or dealing exclusively in services, we expect risk-managed transfers of money, credit, communications, and control systems. And we rely on cyber insurance to indemnify gaps. But will we have standards & regulations in place to meet future business requirements?… Read more »

Emerging Tech in Canadian Insurance: Watch This Space

Emerging technologies seem to be taking the world by storm. The Internet of Things, drones, autonomous vehicles, wearables, and a range of other new technologies are in the news and poised to transform various industries as well as our daily lives. Canadian insurers are investigating opportunities and developing strategies for new technologies, with an eye… Read more »

Digital Then and Now: Why It Will Work This Time

In 1995, there was a lot of noise about the Internet revolutionizing insurance, which would result in savvy players becoming future winners.  While there was some impact, it looks like the real revolution was waiting for the ‘InsurTech’ phase.  What happened, what is making the difference, and how do you get more information? A brief history Insurers… Read more »

Infrastructure & Insurance, Risk & Reward

Public infrastructure and military projects played a critical role in socio-economic stability in the 20th century.  Insurers could expand that role to new requirements for monitoring, measuring, and mitigating risk for new assets in the 21st century. Infrastructure was a lifeline in the 20th century Growing up in the US in the 1950s and 1960s was… Read more »

Insurance Broken

If I had to recommend a one-line description for the 2016 InsureTech Connect Conference,  being held at the Las Vegas Convention Centre this week, I would suggest, “Insurance is critically important.  That’s why we must break it.” The heart of the matter… Caribou Honig, Partner at QED Investors and chairman of the event, opened with a… Read more »

A Letter to Peter: Tech Changes Insurance for Good?

Dear Peter Diamandis: I was pleased to see your post, “5 Tech Forces That Will Change Insurance for Good,” and your participation with Lemonade. I have followed your newsletter for years and have previously referenced your thoughts in this blog. I am offering a few comments and describing my admittedly foggy view of the future…. Read more »

The Future of Disruption: Will Telematics Uberize UBI?

We are hearing a lot about disruption that will hit the insurance industry as the result of InsureTech and digital transformation. However, widespread enterprise-wide implementations are some ways out, so we won’t see the impact of all of the moving pieces. But there is one exception: Telematics / UBI. Telematics is proven and poised for… Read more »