The Intersection - The Insurance-Canada.ca Blog

Canadian Disruptions, Eh?

The theme for the 2017 Insurance-Canada Technology Conference on Feb.28 was “Disruption ⇒ New Realities, New Opportunities.”  I had the privilege of moderating two sessions, which demonstrated that Canadian insurance organizations are embracing the realities and creating opportunities. If you missed it in person, or want to visit it again, you will have the opportunity… 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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Marketing Disruption – The Future of the Insurance Promise

Disruption is challenging the construct of the insurance product, which leads to a crucial question: How do we convince consumers that existing insurance organizations are still needed? A new commercial is starting down this road. And reviewing some alternative ads might be in order. We’d like your thoughts. The End of Automobile Insurance Back in… 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 »

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 »

Is Distribution a Second Thought In Insurance Innovation?

With all the high pitched noise about digital innovation and resulting disruption, the distribution side of insurance has had less attention in North America, other than to assume that agents and brokers could be left on the side of the road.  There are exceptions, however, and I’d like your thoughts. Digital is capturing people’s attention… Read more »

MGAs Walking the Specialty Line

Managing General Agents are getting attention of late.  A recent study finds that the MGA channel is growing faster in commercial market production than the commercial segment generally.  It points to specialty lines as a key driver. An international MGA association cites the need for MGAs to leverage analytics / modern technology to maintain the success. Last,… Read more »

Defining Insurance & Distribution 2025

What will insurance product distribution look like in a decade? I know three things: (1) it will look very different than it does now; (2) it will have high levels of customer service at the centre; and (3) I am going to listen carefully to some very smart people at ICEF2015 on August 31st. We… Read more »

Competitive Ground Changing for Brokers and Direct Writers

I was recently mandated to moderate a series of focus groups with P&C insurance brokers. In the context of these groups, one of the topics discussed was how brokers would compete with direct writers in the short to medium term.  After some discussion, there was a new twist on an old conversation.  I’m still trying… Read more »

One-Stop Financial Shopping: Will We Find the Holy Grail?

In the news stories surrounding the purchase of State Farm’s Canadian operations by Desjardins General Insurance Group, I saw a phrase that took me back to my insurance roots: ‘One-Stop Financial Shopping’. Conceptually, this has strong appeal for all parties – insurers, distributors, and clients.  In practice, however, results have been spotty. I’m wondering if, in… Read more »